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AmEx Statement Credits: H&R Block Tax Accountants ($40 for $125)

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AmEx Statement Credits: H&R Block Tax Accountants ($40 for $125)
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forumninja on 30/06/2015 - 07:22 offerenroll.americanexpress.com (1519 clicks)

For simple tax affairs you can do it yourself. For those with more complicated tax affairs that need an accountant to check, maybe this is a useful deal.

H&R Block

Spend $125 or more, get $40 back

Valid from 30/06/2015 to 31/10/2015

Register by saving the offer to Card and spend $125 or more, online or in-store at selected H&R Block locations before 31/10/15 to receive a $40 statement credit. Limited to the first 15,000 Cards to register. Exclusions apply. Not all H&R Block stores are participating in this offer.

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Referrer: 40,000 Reward Points

Centurion Personal Charge Card: random (7)

Referee gets 200,000 MR points. Referrer gets 150,000 MR points.

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  • SmiTTy on 30/06/2015 - 07:57
    +4

    AND you still get to claim the full 125$ on your next tax return (as opposed to 125-40) :D

    • Utopian on 30/06/2015 - 08:44
      +1

      My benefits always outweigh my fees, while remaining legit.

    • jzx100 on 30/06/2015 - 13:08
      -1

      You can claim the whole amount, however, you will only get a deduction based on your tax bracket.

  • Steptoe on 30/06/2015 - 08:40
    +1

    Do they actually use Accountants?

    • dr_ rusko on 30/06/2015 - 08:50
      -2

      The alternative being?
      Monkeys?

      • Steptoe on 30/06/2015 - 08:53
        +2

        Trained monkeys at least.

    • SmiTTy on 30/06/2015 - 10:19

      Im sure they have an accountant overlooking all their junior accountant-to-be staff. I've never used H&R block so I don't actually know - Im just assuming.

      I've used solicitors offices, where the legal clerks do all the conveyancing work under supervision of solicitors. Perhaps its the same here.

      • dazweeja on 30/06/2015 - 15:26
        +2

        It's not the same. These are just poorly-trained Tax Consultants with no oversight.

    • jzx100 on 30/06/2015 - 13:10
      +4

      No they don't use accountants! Nor do they have a accountant's looking over the juniors, they just have trained tax consultants.

    • freefall101 on 30/06/2015 - 18:54

      No, basically you go do a course through H&R and go for a job after that

      They started charging for the course (at least they did when I worked in Canada) because a whole lot of people started doing the course for free just so they could learn how to do their taxes themselves and never applied for a job, it was only an hour or two long.

  • Khush on 30/06/2015 - 08:50
    +1

    No they don't have Accountants. I have worked with them they just through you in.

    • dr_ rusko on 30/06/2015 - 08:52
      +12

      Do there computers have gramma and spell checkas?

  • illumination on 30/06/2015 - 09:27

    Hmm does anyone have any experience using them? I'm considering using an accountant (as opposed to doing it myself) for the first time..

    • freefall101 on 30/06/2015 - 18:59
      +2

      I spent 4 years doing tax returns in Canada and as a tax manager and we used to groan when we got a messed up H&R return that needed fixing. They're number crunchers, they'll take whatever bits of paper you give them, put it into the system and hit send. They'll take no liability for anything being wrong or if you get audited, you get to deal with that. They made stupid mistakes all the time, whether because someone couldn't read or they ignored something and they didn't ask obvious questions (like "you had this kind of income for the past 5 years, do you have it this year?")

      Basically they do what you can do at home. If you have capital gains, you need to make sure you provide all the details anyway so entering it yourself isn't hard. Same with dividends, interest, normal revenue, allowances, whatever. If you have a company/trust, probably best going to an actual accountant.

      Or do what most of my family/friends do, make me do it :/

      • LoungeLizard on 30/06/2015 - 20:28

        They'll take no liability

        My "proper" accountant that charges $300/h doesn't take any responsibility either. If fact, I've never seen an accountant that doesn't have a "all due care but no responsibility" clause.

        • horsome on 30/06/2015 - 20:50

          Accountants can be sued,these clauses try and reduce any damages being held against them.

        • freefall101 on 30/06/2015 - 21:26
          +1

          True, does depend on accounting firm but as mentioned that's also to reduce legal liability. We had that same clause at the very large firm I worked at, but we also always did the audit work for people too because it was a small percentage of our overall returns filed and it maintained our image. If you have an accountant who wants to charge you $300/h to send receipts to the ATO then dump them.

          Always about finding a good accountant. I used to do free tax returns for an old persons home. One of them got audited one year and I spent 2 days dealing with the tax office for them, all off my own back because all it took was my time (they audited an 86 year old woman on her medical expenses, wtf). I did get free cookies out of it though!

  • shortgum on 30/06/2015 - 09:33

    do anyone here use an accountant or themselves if owning investment properties?

    • SmiTTy on 30/06/2015 - 10:22
      +1

      I think that depends on:
      1/ How complex your return is
      2/ How confident you are and your knowledge of tax laws

      Another option .. is get an accountant to do it for one year. Then use that template for following years (assuming not many changes year on year).

      • shortgum on 30/06/2015 - 10:31

        thanks. with tax depreciation schedules with properties. is that complicate?

        • SmiTTy on 30/06/2015 - 11:18

          not sure what depreciation you're looking at, so I cant really comment (that and im not an accountant)
          but you could potentially get a surveyor to put together a depreciation schedule for you and you could use that as the basis for your tax deductions.

          I came across these videos a few months ago which I found interesting ….
          http://www.bmtqs.com.au/videos
          (unfortunately there is a bit of "selling" in those videos you need to ignore so i apologise in advanced)

        • Chewie on 30/06/2015 - 12:48

          @SmiTTy:

          A QUANTITY surveyor that is registered with the Taxation Board. Otherwise, you're not supposed to use it for taxation purposes unless you're willing to wear the risk with no fall back.

          Used to do tax dep schedules, but opted out of continuing it. Couldn't compete with those that use juniors and cadets to do the grunt work for lesser fees.

        • shortgum on 30/06/2015 - 15:28

          @SmiTTy: Ok.. We just have our last tax done by an accountant quoted us $286 after everything completed. Price not been mentioned upfront

          it was a surprise because our tax refund is just covered for their fees. we have depreciation schedules with 2 investment properties professionally done by BMT it is really surprise with outcome

          So is quote price reasonable or wonder it is worth do ourselves? our accountant is base in sydney cbd

        • SmiTTy on 30/06/2015 - 15:50

          @leehungfei:

          I've paid more than this for tax returns before. Imho .. a good tax accountant is worth it (if you find one), as they're not just someone who processes your tax returns but can give good advice as well.

          At the end of the day - your call. As mentioned, you can just do it yourself taking the last return done by your accountant and copying it and adjusting the numbers (assuming all things remain the same … esp looking at the depreciation schedule). You could claim tax return fees on your next years tax return too.

  • RRRRRnz on 30/06/2015 - 09:47
    -3

    I use them each year. What they do is a quick questionnaire and identify what areas you are able to claim a refund on and then complete the tax refund right there. Each year they have identified other things that I could get a refund on.

    It costs about ~120-140 and you get this amount refunded the following year.

    • [Deactivated] on 30/06/2015 - 11:11
      +4

      you get this amount refunded the following year.

      lol

    • STRAPIFY Watch Strap on 30/06/2015 - 12:48
      +2

      You dont get this amount refunded.

      You will pay less tax I.e your marginal tax rate multiplied by your tax return fee.

      E.g. $140. X 45% = $63.

      You will pay $63 less tax next year.

    • jzx100 on 30/06/2015 - 13:13
      +1

      H&R Block will only use deduction which you have proof of, whereas a good accountant will look for extra deductions.

      • JetLi on 30/06/2015 - 14:12

        look for extra deductions? …for a price.

        • jzx100 on 30/06/2015 - 14:24
          +1

          You get what you pay for.

          e.g Go to H&R and get a $1000 refund and pay $120 or go to an accountant get a $1300 refund that will cost you $150.

        • JetLi on 30/06/2015 - 14:27

          haha ok, so a proper accountant only charges $30 more? Yeah right…They must not be very good.

        • jzx100 on 30/06/2015 - 14:35

          @JetLi:

          If you are paying $120 got get a BASIC tax return done by a person who has no qualifications in accounting and just has 3 months training (one 3 hour class per week plus completing an open book exam that qualifies you work at H&R Block)well guess what? You're getting ripped off.

          BTW the above was and e.g/ example, it can go either way of that price. If it is a basic return, some accountants will charge less than $120.

        • JetLi on 30/06/2015 - 14:39

          like you said yourself, you get what you pay for…

  • chingy213 on 30/06/2015 - 10:09
    +2

    According to the FAQ, these stores are not participating which means all other stores are…

    Store Address Address line 2 State
    Batemans Bay Shop 4 Citi Centre, Batemans Bay NSW
    Geraldton 264 Foreshore Drive Geraldton WA
    Hornsby 248 Pacific Highway Hornsby NSW
    Mildura 62A Lime Avenue Mildura VIC
    Miranda 1st Floor 84 Kiora Road, Miranda NSW
    Murray Bridge 78 Adelaide Road Murray Bridge SA
    Pennant Hills 1st Floor, Suite 3 Pennant Hills Market Place NSW
    Queanbeyan 12/251 Crawford Street Queanbeyan NSW
    Aitkenvale 1/276 Ross River Road Aitkenvale QLD
    Wynnum Shop 6 124 Florence Street, Wynnum QLD

  • Goldsac on 30/06/2015 - 10:13
    +5

    I would prefer to pay the full $125 and use someone that I know is a real accountant. My friend had about 10 days training then was let loose on the public preparing tax returns. Sometimes a little knowledge is dangerous.

    • carwashhair on 30/06/2015 - 13:27

      Sometimes a little knowledge is dangerous.

      I know, right? I bet your friend wasn't expecting to star in an ozbargain thread on tax!

  • chingy213 on 30/06/2015 - 10:14
    +1

    No they dont use accountants, they use trainnes…

    But like me if you have shares a properties its better to go with tax agents so the government "shouldnt" ask questions later on…

    As I claim 3-7k each year

  • JetLi on 30/06/2015 - 10:42
    -1

    If anything, HR Block will probably ask less questions and be more lenient on allowing you to claim expenses that are borderline, so going to a proper accountant may not be that advantageous.

    • lousy on 30/06/2015 - 10:50

      It doesn't matter because ato doesn't go after them they still go after you

      • JetLi on 30/06/2015 - 10:52
        -1

        that's my point, an accountant may knock back the claim, while HR Block will just claim it without asking any questions, so a bigger refund.

        • lousy on 30/06/2015 - 22:20
          +1

          Therefore if you over claim or claim something dodgy that hr block let slip through it will still be you the tax payer which is held accountable , not hr block. if a proper accountant doesn't let it through, yes you get less refund but also less risk of there being any issues in case of an audit

  • Frozensage on 30/06/2015 - 11:14
    +1

    Just do your own etax and save the 125 - 40 bux. Either way, even if you go to a real accountant, you sign a piece of paper which says they are just doing work on your behalf and you are still responsible for any fraud.

  • chingy213 on 30/06/2015 - 12:18

    I dont do fraud but i maximize on what i claim…alot of shit..borderline…

    e.g like you can claim PC software for work upto 500 dollars without receipts…shit like that

    • JetLi on 30/06/2015 - 14:15

      pc software for work up to $500 without receipts…never heard that one before, $300 is the limit for no receipts.

  • wizedz on 30/06/2015 - 12:25
    +3

    As someone who works in an accounting firm,I would like to point out that the individual tax returns are usually very easy and does not require many years of experiences(some experience is enough). Everything from employment income, business income, rental properties, shares will be assisted with computer software as well as ATO sourced information and is quite easy to complete.

    Complex stuff is something like a partnership working for a company which is owned by the people of partnership and the company decides how much the partnership is paid. That would involve a lot of calculations for optimization and would needs a qualified accountant/senior clerk. For everything else, there's software.

  • T-man on 30/06/2015 - 12:39
    +1

    For those like me who doesn't know anything about Tax definitely need an accountant to fill the forms. ATO just called me yesterday to do the amendment due to the wrong information filled the previous year. ATO said that they would do the audit if I cannot get the forms amended.

  • shaiguy on 30/06/2015 - 13:02

    So if you purchase this, does that mean that a portion of any annual fee is tax deductible?

  • jzx100 on 30/06/2015 - 13:14

    I've worked at ATO and H&R Block, so if you need you tax returns done hit me up lol

    • carwashhair on 30/06/2015 - 13:29
      +1

      Stick a $40 statement credit on my amex account and your offer sounds even better

      • jzx100 on 30/06/2015 - 14:21

        Best I can do is credit your fridge with a 6 packs of James Squires Hop Thief loll

    • hen dawg on 30/06/2015 - 19:37

      What's your number one money saving tip for the OzBargain community?

  • fattymattyd on 30/06/2015 - 18:34
    +1

    Wouldn't use H&R Block even if they paid me the $125

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