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H&R Block, Inc. Message Board

  • bratislava_noway bratislava_noway Apr 3, 2013 9:01 AM Flag

    HRB constant letters to buy my practice

    They must be frantic...I've received 4 letters in last 2 months...sell to us or join us is the content.
    Hmm..
    On a diff note...getting new clients thanx to tax sftwre turbotax..seems they cant figure it out. they spend $79 and hate the outcome....i improved their outcome from 10% to 50%
    usual reasons...depreciation confusion, use of autos in business, and failure to check off boxes.
    but no hrb tax software clients...So, that tells me INTUIT is the elephant in the room.
    I predict INTUIT opening tax offices in the near future.

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    • Hello bratislava_noway
      I agree w/rbotterb that opening tax offices ain't the way to go for Intuit. Intuit's TurboTax clients r DIY (DoItYourself) clients & TurboTax owns this market. I believe that Intuit should offer Tax Preparation Classes at local Community Colleges using their tax software. And remember, Quicken & QuickBooks tax related information can be Imported into TurboTax (sweet). Again, I believe that would be the way to go for the TurboTax (DIY) Nation.

    • Unlikely that Intuit would open tax offices. The overhead costs of brick and mortar locations plus costs of staffing is pretty high nowadays.

      But I happen to be picking up clients who used Intuit last year since my fees in my tax practice apparently are lower than TT is once extra e-filing fees et al are added in. Time will tell if that trend continues this season or picks up next season. I'm also picking up clients who went to CPAs too, but none from HRB this season. I'm finding that folks who go to retail tax offices seem to stay in that environment (where HRB, Liberty, Jackson try to steal from each other), but those who go with independent tax pros tend to stay in that environment as well with limited crossover. I know when I was with HRB for 17 seasons, I would see a few clients from a few small CPA firms in the area, but most clients were with previous HRB clients or ones coming in from other retail tax offices competitors.

      I guess HRB may have figured that out and are hoping to 'buy' new clients by picking up local large practices hoping that grab clients from those ready to retire or get out of the business. Can't fault their strategy, though I don't know how good their retention rates are nowadays when they take over a small firm.

 
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