h&r block return volume outperformed industry results when compared to irs data reported through february 24. market share gains were realized in both the assisted and diy categories. in the assisted category, h&r block outperformed the industry with a decline of 8% compared to the irs reported decline of 13%. in the diy category, h&r block outperformed the industry with a decline of 5% compared to the irs reported decline of 8%. while overall industry and company volume is expected to improve during the second half of the tax season, company performance relative to the industry is expected to moderate given the conclusion of its free federal 1040ez and refund advance promotions on february 28.
no wonder small business owners need accountants. many don’t understand the deductions they’re entitled to. most don’t use bookkeeping software. and too many are still keeping paper receipts by the shoebox-load.
after surveying more than small business owners, manta, the small-business directory, asserts small business owners “are on top of their tax games.” but we know a few accountants who would beg to differ.
manta’s survey found only 61% of small business owners understand the deductions available to them as business owners. luckily about the same number, 62%, use a cpa to file taxes. still, 21% track of expenses with paper receipts, making filing a pain.
late and unprepared clients scored high, indicated by 41.6 percent of respondents. staffing issues, at 34 percent, was right up there, too. but the most common concern was security, privacy, and identity theft, checked off by 46.2 percent.
it isn’t often that one category of concern reaches the mid-40s. in 2016, “clients late or unprepared” is the only one that’s consistently up there, ranging from a low of 47.3 in 2016 to 59.3 percent in 2010. but generally, the numbers for that category have been improving.
the difference between the potential winners and losers this busy season could hardly be more stark, according to a 卡塔尔世界杯常规比赛时间 analysis of the annual busy season outlook tracking survey.
while some 56 percent of accountants so far say they’re looking at a “better” or “much better” busy season this year than last year, a distinct minority of about 16 percent is bracing for problems, trouble and setbacks.
the annual survey tracks the attitudes, behaviors and benchmarks of tax and accounting professionals throughout the season, providing real-time metrics and trends by which practitioners can chart and steer their business plans. the survey remains open throughout the season, as an invitation to professionals to participate regularly. as a reward for joining the survey, participants are provided the first look at new topline findings. join the survey; get the results.
in examining some of their other responses, the reasons emerge with clarity. for instance, those expecting a “worse” year, are three times more likely than those expecting “better” season to cite the “general economic situation” as a chief concern, twice more likely to blame “competition from others,” a third more likely to report “technology or software problems, and a quarter more likely to be having problems with “new accounting and auditing” and staffing” issues. those issues cut to the heart of fundamental and basic operations. read more →
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even as irs sees declines.
