Thoughts - Tax Preparation as PT Work?

[Mulligan]

Charging folks a 36% APR for Emerald Advance loans is not my idea of being ethical. Throw into the equation of charging anywhere from $250-$400+ for returns that have EITC isn't my idea of being ethical either. In my way of thinking Block as well as many other tax prep firms take advantage of those who can least afford to be taken advantage of. If you step back and look at the whole situation in a wider perspective these firms are taking your tax money that was intended for those with lower incomes.

Not bashing Block, just telling it the way it is.

In 2002, I saw them advertising Efile and get your money quickly. Well I thought it would be cool to get my money fast. So I went in there with my forms all completed. All they had to do was type in the numbers as I already had them written out in the correct forms. This process took maybe 15 minutes. I had to pay $150. And I did all the work! Needless to say, I just went back to snail mail, and now onto Turbo.


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[frayne]

This is exactly why I stopped doing tax returns fit money and went the volunteer route.

Me too.

 

[rothlev]

Charging folks a 36% APR for Emerald Advance loans is not my idea of being ethical. Throw into the equation of charging anywhere from $250-$400+ for returns that have EITC isn't my idea of being ethical either. In my way of thinking Block as well as many other tax prep firms take advantage of those who can least afford to be taken advantage of. If you step back and look at the whole situation in a wider perspective these firms are taking your tax money that was intended for those with lower incomes.

Not bashing Block, just telling it the way it is.

Frayne - On those points I agree with you. I wish they would lower the fees especially so on the earned income credit tax returns. The loans are gone, when we had them because they were two week loans the finance charges wound up being about $15. It is all the other charges that bother me . If I do leave those will be the reasons. If someone balks at the fees, I will tell them they have other options. Reality is the lower income folks rarely complain about the bill.

 

[target2019]

As an HRB grad I am outraged! But seriously, their ethical-ness is improving because it had to. You could spend a long week reading through the evolution of their business, but why bother? The course is good, and you can decline the job which will pay you a bit more than minimum wage for the first few years.

 

[frayne]

When I worked for Block they pushed the EA loans starting about Thanksgiving and the fee 36% APR, for a thousand dollar loan worked out to about a dollar a day. Then there were upfront administrative fees of around $45 and then if for some reason their tax return was held up by the IRS for some reason they would end up paying late fees as well. Most of the people who get these loans as well as the one that have their prep fees withheld are glad to get the money as soon as they can and realize that they have very few other options.

Block has excellent training and is probably one of the better national tax prep firms as compared to Liberty and JH. That said they all take advantage and rip off the poor and unsuspecting.

 

[Buckeye]

Block has excellent training and is probably one of the better national tax prep firms as compared to Liberty and JH. That said they all take advantage and rip off the poor and unsuspecting.

+1 on the quality of the training.

 

[JoeWras]

Thanks all for pointing out VITA. Looks like this may be a way for me to get my brain stimulation with less commitment than a j*b.

It will be worth investigating.

 

[jebmke]

Thanks all for pointing out VITA. Looks like this may be a way for me to get my brain stimulation with less commitment than a j*b.

It will be worth investigating.

Also look at AARP TaxAide. Similar program aimed at seniors. I think they are under the same oversight by IRS as VITA and use the same training materials.

 

[frayne]

Also look at AARP TaxAide. Similar program aimed at seniors. I think they are under the same oversight by IRS as VITA and use the same training materials.

That is correct as we have a person at our site that works both at VITA and at the AARP/TCE site.

 

[haha]

For the people who are doing commercial tax preparation such as HR Block, why would you quit a corporate job that must have paid enough to allow you to at least semi-retire, and start doing a low paid but still fairly stressful and time consuming job like tax prep? Posters have even remarked on intense office politics in these jobs, I would imagine trying to get more and better hours and the more lucrative clients.

Ha

 

[Free To Canoe]

For the people who are doing commercial tax preparation such as HR Block, why would you quit a corporate job that must have paid enough to allow you to at least semi-retire, and start doing a low paid but still fairly stressful and time consuming job like tax prep? Posters have even remarked on intense office politics in these jobs, I would imagine trying to get more and better hours and the more lucrative clients.

Ha

Good question.
1) It helps you prepare your own taxes / helps with finances. Turbo tax will not tell you everything. One example is that if you have unused tax deductions, you can use them up by doing a roth conversion. This is especially true when you through the ACA into the mix.

2) You help others. It is a service that people are happy to utilize for many reasons. This is especially true in the less prosperous areas like the one I live in.

3) It gets one out to meet people. This is especially good in these parts during the winter tax season.

4) You make some money. The marginal utility of these dollars is greater on a per dollar basis than if you make more. Earned income enables certain tax advantages and could also bring the unemployment insurance windfall (but not for me).

I started out at VITA and had office politics problems. Block is better. Good franchise owners.

 

[Dog]

My current job (8 days left before ER) does not allow PT work or reduced hours. And I'm tired of megacorp BS and don't want to participate in the upcoming restructure AKA laying off my managers.

I'm investigating this option since it is only 31/2 months employment (during crap weather) and will allow me to keep my mind sharp and earn a few bucks for "frivolous spending". If I don't like it, I will quit. Advantage of FI.


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[frayne]

Also look at AARP TaxAide. Similar program aimed at seniors. I think they are under the same oversight by IRS as VITA and use the same training materials.

Good question.
1) It helps you prepare your own taxes / helps with finances. Turbo tax will not tell you everything. One example is that if you have unused tax deductions, you can use them up by doing a roth conversion. This is especially true when you through the ACA into the mix.

2) You help others. It is a service that people are happy to utilize for many reasons. This is especially true in the less prosperous areas like the one I live in.

3) It gets one out to meet people. This is especially good in these parts during the winter tax season.

4) You make some money. The marginal utility of these dollars is greater on a per dollar basis than if you make more. Earned income enables certain tax advantages and could also bring the unemployment insurance windfall (but not for me).

I started out at VITA and had office politics problems. Where I work a Block is better. Good franchise owners.

All good points and I never really felt that tax prep was all that stressful, more of a challenge.

 

[rothlev]

Good question.
1) It helps you prepare your own taxes / helps with finances. Turbo tax will not tell you everything. One example is that if you have unused tax deductions, you can use them up by doing a roth conversion. This is especially true when you through the ACA into the mix.

2) You help others. It is a service that people are happy to utilize for many reasons. This is especially true in the less prosperous areas like the one I live in.

3) It gets one out to meet people. This is especially good in these parts during the winter tax season.

4) You make some money. The marginal utility of these dollars is greater on a per dollar basis than if you make more. Earned income enables certain tax advantages and could also bring the unemployment insurance windfall (but not for me).

I started out at VITA and had office politics problems. Block is better. Good franchise owners.

#1

 

[frayne]

One of the other things I really disliked about Block is they partnered with Ameriprise and we were suppose to guide clients their way. Something I never did in the five years that I worked for them.

 

[Free To Canoe]

One of the other things I really disliked about Block is they partnered with Ameriprise and we were suppose to guide clients their way. Something I never did in the five years that I worked for them.

Hard to put a positive spin on that. The Ameriprise reference thing is kind of non-functional where I work so that is good.
The good outweighs the bad for me, so far.

 

[PatrickA5]

For the people who are doing commercial tax preparation such as HR Block, why would you quit a corporate job that must have paid enough to allow you to at least semi-retire, and start doing a low paid but still fairly stressful and time consuming job like tax prep? Posters have even remarked on intense office politics in these jobs, I would imagine trying to get more and better hours and the more lucrative clients.

Ha

I doubt anybody quits a corporate job and goes to work for Block thinking it will be more lucrative to work at Block. Normally, people quit mega-corp (for many reasons) and then look for something to do later. Tax prep is one of those areas that you can work when you want and it's seasonal so you can have 3/4 of the year to do other things. It's no different than quitting mega-corp and volunteering somewhere, or substitute teaching. Same idea.

I made easily 10 times more (per hour) at my old Fortune 20 company - with great benefits. BUT, after 30 years, I'd had enough of the game playing. Wouldn't go back if they doubled my old pay. At Block, I set my own hours, don't get involved in politics, and basically do my own thing. I enjoy doing taxes and meeting with my clients (most of them anyway).

I remember my first year at Block and the new District Manager told me the dress code required men to wear a tie. I said "that's not happening - did that for too many years". Like I said, I just let any of the negative stuff roll off me. If it gets bad, I'll quit. Very few people that work at Block need the money other than maybe a little extra spending money. I use my earnings to take a nice family vacation each year.

 

[PatrickA5]

Hard to put a positive spin on that. The Ameriprise reference thing is kind of non-functional where I work so that is good.
The good outweighs the bad for me, so far.

I don't think Ameriprise is a partner of Block anymore. I didn't steer a single client their way in 5 years and got no pressure to do so.

 

[rothlev]

I don't think Ameriprise is a partner of Block anymore. I didn't steer a single client their way in 5 years and got no pressure to do so.

I never did either, nor was there any pressure to do so. When they first sold off HR Block financials we were told of the partnership, and indeed a visit or two was paid to our office by Ameriprise, who then left their business cards. That was it.