(home based business) should I go to Hand R block even tho they are very pricey or a CPA (tax write offs)?

Question

tax forms tax breaks business home based hr block cpa

Answer 1

You don't necessarily need either one. Independents can do an excellent job without being so pricey. Personally, I think H&R is horrible. They are twice the cost as independent preparers and most have little experience. CPAs may or omay not be very expensive but not all do taxwork. I would ask around to see who others in your line of work use or even just other friends. Find someone who is happy with the service abd expertice and contact them.

The big names aren't always the best.



what do you think vb?

Answer 2

( CAP LOCK ISSUE, SORRY)

CPA's will help with your credits, including the small business home office depreciation.

Answer 3

Block charges based on the complexity of the return. I would definutely ask for someone with at least 5 years experience (Senior Tax Advisor or Master tax Advisor) and would not go during the busy "peak period" during the last week of January and the first week of Feburary. I have seen business returns as low as $200 and as high as $400 (usually caused by multiple car deductions, etc. There is also HRBlock Premium which is staffed with Enrolled agents who handle the real difficult returns. I have had to fix many a CPA return that have come in for electronic filing because they had not been keeping up with tax law (not claiming child tax credit for a foster child, only taking a $500 write off for a horse breeder with 9 horses, etc.) Most CPAs don't "interview" you like a good Block preparer will. If you find one who concentrates on taxes, great.

H&R Block also offers the Piece of Mind product which is an extended service plan that will cover you for up to $5000 in additional tax and will pay for an enrolled agent to represent you during the audit. Costs $30 this year. Lasts for the 3 years they can audit you for this year. Many small businesses come to Block just to get this protection and extended service, something the small independents cannot offer.

Answer 4

Go to a CPA. H & R is geared towaRD LOW INCOME eic REFUND LOANS AND INDIVIDUALS WITH NO PATIENCE FOR THE usps. ( CAP LOCK ISSUE, SORRY)

CPA's will help with your credits, including the small business home office depreciation. H & R will charge more and do less for a business client. Use a local in your area, and you'll develop a good relationship with an important friend as your business grows.

Answer 5

A CPA or an Enrolled Agent would be a good choice for the first year...even if you attempt to do the taxes yourself in later years. (An EA is someone who passed an exam to practice before the IRS. Their focus is solely on taxes. A CPA *may* be less focused on taxes and more focused on the "big picture" of how you want your business to work.)

If this *is* the first year, you should have hired them already as 12/31 was the last day to take actions that could affect your taxes in 2007.

Answer 6

I'd see a CPA who does a lot of tax work for small businesses, for the first year - they can suggest deductions you can take, and also advise you on what records you need to keep. After that, you might be able to do it with something like TurboTax for future years.

If you go to H&R Block, a lot would depend on who you got to do your return. Many of their preparers would just enter your numbers, without making additional suggestions. Some of their more experienced preparers could do a good job of helping you identify eligible deductions.