H&R Block for o/o taxes? any other sugg

Discussion in 'Trucker Taxes and Truck Financing' started by holy roller, Mar 13, 2008.

  1. Cowpie1

    Cowpie1 Road Train Member

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    For the first time O/O taxes, it might be more worthwhile to get a local CPA that has a strong knowledge of trucking taxes. After that, an H&R office with a preparer that has a strong working history in trucking taxes might not be a bad choice.

    I have had excellent results using Turbo Tax Online for a few years now. I keep very meticulous spreadsheets on all my data and Turbo Tax has a number of features that cover transportation. You have to do a little more leg work on keeping abreast of tax law changes, but most are addressed in Turbo Tax Online, so that it is extremely rare that they don't ask about something that pertains to your individual circumstances. In fact, they seem to ask about more issues than I need. Better to ask than not! And, of course, they will submit the filing online for you to each agency and you can pay online or you can print it out and file it snail mail. I like the feature in Turbo Tax Online that allows me to store all my previous returns at the site and can pull them up if I need them. I can also store them on my PC in a PDF format and then put them on a CD to stash away in my safety deposit box at the bank.

    They also have a tax filing review and will tag anything that might cause a problem. Likewise, they offer a tax audit service that will represent you without you having to show up. The fees are pretty good. Not the best approach for everyone, but if you keep very good records and like the ability to do things more "hands on" it works very well and is quite cost effective. There is always an ability to get information on any item you are working on in your tax filing.

    I like the way I can take my sweet time doing the job online. I can stop at any point and come back later. Quarterly filings are just as easy with them. Also, I do not have to deal with IFTA filings, so Turbo Tax is a viable alternative. As an option, they also offer Quicken Online for FREE as an added feature to keep all your financials in order during the year.

    Just live within your comfort level and if you are not sure of using a service or preparer, then look elsewhere. Taxes are bain on the free enterprise system, but at least you can make it as painless as possible.
     
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  3. RickG

    RickG Road Train Member

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    Turbo Tax will represent you in an audit but not tax court . Neither will H&R Block . It is very wise to use only an Enrolled Agent or CPA to deal with your taxes .
     
    knighton5 Thanks this.
  4. Waterloo

    Waterloo Medium Load Member

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    The accountant I use, used to run the books for a large trucking outfit. She now works for the firm that handles my books. She is not a CPA, but she works in a large firm, CPA's and lawyers on hand for any problems, they will go to court if need be. It is pay as you go, no monthly retainers or charges for phone calls.

    That is what you should be looking for. With the tech out here, we do everything over the internet. I have only had to go to the office once, and that was for the initial meeting.

    If you PM me, I'll shoot you the number and contact info, as they do handle out of state accounts. Prices are very reasonable, and they know our line of work. They are the real deal, and have been around for many years. I just sent another friend/driver there, after his CPA put him through the ringer $$$$ for many years. He is kicking himself! He had know idea what was going on, figured his old CPA knew what he was doing. I guess not.

    Mike
     
  5. sweeze

    sweeze Light Load Member

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    I would like to know the name and number to the tax place u use waterloo but there doesnt seem to be a way to pm u.
     
  6. Dr Demented

    Dr Demented Light Load Member

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    Truly. Everyone I know has had at least one bad experience with H&R, some worse than others...I haven't because I could never stomach paying as much as they want. When I get things settled and go O/O, I'll use a local independent CPA.
     
  7. saddletramp7500

    saddletramp7500 Bobtail Member

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    get a cpa that is up on trucking reg's make some phone call's where you live.
     
  8. Diesel_Smurf

    Diesel_Smurf ~Trucker's Wife~

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    Well I can tell you this, we used H&R The first year hubby was o/o and they did pretty good for us. I would recommend finding a local tax preparer in your area who knows all about the trucking industry. However stay away from American Truck Business (ATB). Quite a few companies use them and offer you to have 16.50 Taken from your check weekly to pay for them and then you send them everything and they prepare your taxes and if you separate all the receipts yourself its only like 120 dollars for them to do it more if you don't.
    However, we used them 2 years in a row and wondered why we were owing so much...... Then realized they never took in account we were buying our FIRST HOME. AND that we had 3 KIDS!!! all under 18 and in school!!!
     
  9. RickG

    RickG Road Train Member

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    When did you use ATB ? You can fire an amended return and claim those deductions if it wasn't too long ago . http://www.irs.gov/taxtopics/tc308.html
     
  10. QuoteWarz Insurance

    QuoteWarz Insurance Light Load Member

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    Yes, I would suggest getting a local CPA to do the taxes for you over H&R block because they usually do a better job then a place like H&R block.
     
  11. Diesel_Smurf

    Diesel_Smurf ~Trucker's Wife~

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