In 2nd Year, Block Advisors Has 347 Tax and Accounting Offices, Partnership with Xero

Everybody knows H&R Block, the company that pretty much invented the retail tax preparation market for consumers. What many people don’t know is that the company just entered its second season of providing year-round tax and accounting services to small businesses through Block Advisors. The company also is announcing a partnership with cloud business software maker Xero.

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 marked the anniversary with an event that took place on January 12.

“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.

Strategic partnership

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 hosted a networking event for professionals on Thursday, January 12. Small-business owners and business professionals were 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.

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