Block Advisors year-round tax prep service celebrates one year
Partnering with Xero and hosting business networking events mark first anniversary
H&R Block (NYSE: HRB), the company that invented the tax preparation services category, enters its second tax season with Block Advisors. With 61 offices added in the last year, a total of 347 Block Advisors offices partner with individuals and small businesses to eliminate the stress of taxes and to minimize tax liability. Block Advisors is marking the milestone with a partnership, an event and tax advice.
“In our first year, our tax advisors have forged relationships with individuals and small-business owners capturing all the credits and deductions due. Our bookkeepers have taken accounting tasks off business owners’ plates allowing the focus to remain on growing the owner’s business,” said Kip Knight, H&R Block senior vice president of Block Advisors.
Last month, Block Advisors partnered with Xero, a leading cloud-based accounting software for small businesses. Block Advisors’ clients and bookkeepers will use Xero to manage financial data enabling Block Advisors bookkeepers to provide payroll, bookkeeping, and tax compliance. The partnership further enhances Block Advisors services to small businesses by giving them a technological edge with the most modern, cloud-based financial management tools.
“In our search for a partner to serve client needs, we evaluated the industry leaders. We assessed on multiple criteria. The technology and service provided by Xero was the clear winner,” said Knight. “Our bookkeeping services coupled with Xero’s technology and user-friendly solution, allows Block Advisors to remove much of the burden small businesses face when managing their finances.”
Marking anniversary in offices
Block Advisors offices will host a networking event for professionals on Thursday, January 12 from 3 p.m. to 7 p.m. Small-business owners and business professionals are invited to meet the tax advisors serving their community and talk about tax law changes, tax planning, sales and use taxes and other services available through the offices.
Block Advisors’ tax advisors average 15 years of tax preparation experience. Many of the tax advisors are Certified Public Accountants, Enrolled Agents or have received H&R Block’s highest level of certification.
Small business tax tip
Taxpayers who run a small business or are starting a new business have some more stability this year – at least as far as their tax returns go. Because of permanent changes the Protecting Americans from Tax Hikes (PATH) Act made to the tax code, small businesses have added certainty around the research tax credit allowing businesses without a taxable income – a common situation for a lot of new businesses and startups – to qualify.
Tax planning also has more certainty. The PATH Act permanently set limits and phase-out thresholds for expensing qualifying property costs helping businesses plan capital expenditures. Employers also have a new deadline to file W-2s with the Social Security Administration. Employers are mandated to send employee W-2s by January 31.
Small businesses can read more about benefits that the PATH Act made permanent, expanded or extended at hrblock.com/path. Small-business owners and taxpayers can learn more about Block Advisors and set an appointment with a local tax advisor at www.blockadvisors.com.
About H&R Block
H&R Block, Inc. (NYSE: HRB) is a global consumer tax services provider. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&R Block tax software products for the DIY consumer. H&R Block also offers adjacent Tax Plus products and services. In fiscal 2016, H&R Block had annual revenues of over $3 billion with 23.2 million tax returns prepared worldwide. For more information, visit the H&R Block Newsroom at www.hrblock.com/tax-center/newsroom.
Xero is beautiful, easy-to-use online accounting software for small businesses and their advisors. The company has 862,000 subscribers in more than 180 countries. Xero seamlessly integrates with over 500 apps. It was ranked No. 1 by Forbes as the World’s Most Innovative Growth Company in both 2014 and 2015, while Canstar Blue rated Xero Australia’s best accounting software in 2015 and 2016 based on research from 800 small businesses.
Learn how taxpayers can meet the July 15 extended tax filing deadline in 2020 and file their taxes safely through H&R Block.
H&R Block declared a quarterly cash dividend of 26 cents per share, payable January 2, 2020, to shareholders of record as of December 9, 2019.
Stimulus payments have prompted questions about payouts on H&R Block’s Emerald Card. Hear from CEO Jeff Jones about what we’re doing and not doing.
Read more on H&R Block's financial results for the fiscal year ended April 30, 2020, and an update on its response to the COVID-19 pandemic.