Small Business Taxes | Block Advisors (2024)

FAQs

Are block advisors the same as H&R Block? ›

31 Our small business tax professional certification is awarded by Block Advisors, a part of H&R Block, based upon successful completion of proprietary training. Our Block Advisors small business services are available at participating Block Advisors and H&R Block offices nationwide.

Block Advisors, a part of H&R Block, helps lighten the load for small business owners and the self-employed with expert tax preparation and other relevant services — so you feel confident and at ease.

Generally, between $1,000 and $5,000 per annual tax filing. A startup that qualifies for various small business tax deductions and credits and that is issuing stock option grants may pay $4,000 to a small business tax advisor for tax preparation. Fee charged per hour of advice from a tax attorney.

CPAs not only study tax issues, they also gain expertise in accounting matters such as financial planning and auditing. Although H&R Block does not provide public accounting services, we do have tax preparers who are CPAs who can prepare your tax return to get your maximum refund, guaranteed.

Certified public accountants: Use the CPA Verify tool or check with your state's board of accountancy. Tax attorney: Contact your state's bar association.

It can be very easy to confuse a tax advisor with a tax preparer. While a tax advisor can also prepare your taxes, they provide more services for their clients than a preparer. A tax preparer, such as H&R Block, will prepare, calculate, and file your income tax return on your behalf.

Hourly Rates for Tax Preparation

If you opt for an accountant charging hourly, the ideal range is $100 to $200 per hour, with CPA rates falling around the higher end of the spectrum due to their additional certification and expertise.

Hiring a professional to do your taxes can help take some of the stress off tax season. Hiring a tax professional to help with filing your return can take stress out of the process and ensure you don't make any errors.

If you have "a complicated tax situation with dependents, investments, or significant assets or charitable contributions," then hiring a professional might be helpful, said Business Insider. That is because "the more transactions you have, the more things you need to take into consideration."

What are the hourly rates for accountants? Hourly rates are common, and they vary based on the accountant's experience, training, and certifications. An accountant's hourly rate can range from $150 to more than $400 per hour.

What can an EA do that a CPA can't? ›

EAs are best for help with IRS issues and tax preparation and planning advice for an individual or business. CPAs are best for broader accounting needs and identifying credits and deductions to increase your tax refund or lower your tax bill.

H&R Block Virtual tax prep matches you with the tax pro best suited to your situation. All you do is upload your files, and your tax pro does the rest.

On December 10, 2021, the name change took effect, and Square, Inc. became Block, Inc. On December 16, less than a week into the rebrand, H&R Block, sued the company for trademark infringement, claiming that the name seeks to confuse customers by misappropriating the Block brand name, which H&R owns.

The consumer protection agency's complaint alleges that H&R Block makes it unnecessarily time consuming and frustrating for consumers to downgrade to a lower cost tax-preparation option online after initially selecting a higher cost one.

In 2008, the company sold its H&R Block Financial Advisors unit to Ameriprise Financial for $315 million. At the time, the unit managed $30 billion in assets and employed 900 financial advisors in the U.S.

The best overall H&R Block alternative is TurboTax Business. Other similar apps like H&R Block are Avalara, Vertex, Credit Karma Tax, and CCH ProSystem fx Tax. H&R Block alternatives can be found in Corporate Tax Software but may also be in Sales Tax and VAT Compliance Software or Tax Practice Management Software.