Gavin Posted March 31, 2017 Author Share Posted March 31, 2017 Block does average returns pretty well, but not complex. Better than most small tax shops, they do train their preparers, and they don't cheat. Fine for a couple W-2's, and itemized, simple schedule C or E, but that is not what I do very often. Usually have to account for several activities (S-corps, partnerships, trusts, rental activities, etc) before the 1040 can be completed. The limit on medical itemized deductions really stinks. The folks who benefit from that most are asset long seniors living in high priced nursing homes. grizwilson 1 Link to comment Share on other sites More sharing options...
ollie Posted March 31, 2017 Share Posted March 31, 2017 I worked for Block and I had to take a 500 question test before I could do taxes, but Gavin is right, they don't teach the new people anything complicated so the old adage is true about choosing the right person to do your taxes. Also if they don't have many people in the classes for the upcoming tax season they walk many through that test so they can just have a warm body. I found that out when working with a few of them! I would say anything complicated get you a CPA or an EA to do your taxes. Just my 2 cents. Gavin 1 "you can always beat the keeper, but you can never beat the post" There are only three things in life that are certain : death, taxes, and the wind blowing at Capps Creek! Link to comment Share on other sites More sharing options...
dblades Posted March 31, 2017 Share Posted March 31, 2017 Most Block offices have at least one EA or at least they did when we sold our's several years ago. I've had to straighten out messes that were made by other tax services, other Block offices and CPA's as well. Gavin and ollie 2 Link to comment Share on other sites More sharing options...
Gavin Posted April 19, 2017 Author Share Posted April 19, 2017 Finally done. Sick of stock brokers that sell Master Limited Partnerships to anyone with a pulse. Link to comment Share on other sites More sharing options...
Greasy B Posted April 19, 2017 Share Posted April 19, 2017 7 minutes ago, Gavin said: Finally done. Sick of stock brokers that sell Master Limited Partnerships to anyone with a pulse. Question 1. What are you talking about? Question 2. Why do simpletons like me have to fill out a tax form? Surly the Feds already know what what I owe and what I paid. Are fools like me suckered into hiring a preparer just to support the industry? His father touches the Claw in spite of Kevin's warnings and breaks two legs just as a thunderstorm tears the house apart. Kevin runs away with the Claw. He becomes captain of the Greasy Bastard, a small ship carrying rubber goods between England and Burma. Michael Palin, Terry Jones, 1974 Link to comment Share on other sites More sharing options...
jdmidwest Posted April 19, 2017 Share Posted April 19, 2017 Quick question. Are tax preparers happy that this day is over? "Life has become immeasurably better since I have been forced to stop taking it seriously." — Hunter S. Thompson Link to comment Share on other sites More sharing options...
Gavin Posted April 19, 2017 Author Share Posted April 19, 2017 The Feds know to some extent, if a form is filed to report covered income or deductions. Lots of stuff is still not reported. Income is pretty well covered with W-2's, 1099's, and K-1's, but lots of non-compliance in the 1099 area. Most deductions & credits are not reported. Link to comment Share on other sites More sharing options...
Gavin Posted April 19, 2017 Author Share Posted April 19, 2017 Happy the worst is over but, but always a let down. 150 mph to 55 in a day. Link to comment Share on other sites More sharing options...
Greasy B Posted April 19, 2017 Share Posted April 19, 2017 3 minutes ago, Gavin said: Happy the worst is over but, but always a let down. 150 mph to 55 in a day. Be thrifty, drive 50 and go fishing. Gavin 1 His father touches the Claw in spite of Kevin's warnings and breaks two legs just as a thunderstorm tears the house apart. Kevin runs away with the Claw. He becomes captain of the Greasy Bastard, a small ship carrying rubber goods between England and Burma. Michael Palin, Terry Jones, 1974 Link to comment Share on other sites More sharing options...
Gavin Posted April 19, 2017 Author Share Posted April 19, 2017 Worst investment that you could ever make is when you buy some units in a publically traded partnership.Broker gets a high commish, you lose, your accountant has work to do it right. Cost basis is rarely right on your brokers statement, must be calculated. Easy if you know how, not easy if you don't. Mix of ordinary income, capital gain, and AMT adjustments. Link to comment Share on other sites More sharing options...
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