H&R Block...good buy?

DaveinJapan said: "Any thoughts? Just got upgraded by Morgan Stanley. I guess they see this as a bottom. It's just a safe, tax company right? Can't drop anywhere far, I guess."

thezster said: "Only because I, personally, HATE - H&R Block.... I won't play them!"

DaveinJapan said: "k... Any reasons behind that call? :p (just curious) Warren Buffet seems to agree though, he bailed a few weeks ago (mostly, anyway). Just wondering where the bullish sentiment is coming from, is all. IS this a good investment, considering their subprime side? Or not? (and, will they sell? and at what price?)"

FirefighterB said: "Not to sound like Rainman, but "H&R Block sucks!" I had a horrible tax experience with them where it cost me over $200 for them to do my taxes, during which the guy screwed up my taxes and I missed out on almost $400 in additional returns. Of course, I should have figured out I might be screwed when the rocket surgeon doing my returns tried to use his computer keypad to dial out on his telephone... Luckily, I did my taxes myself the next year and realized the egregious error and got my money back. Of course, that was one year before they put in their mistake guarantee that would have given me my $200+ prep fee back."

thezster said: "It's got nothing to do with the company worth/financials/etc.... I've always considered H&R Block to be a sort of "scam operation" - of sorts. Prior to tax season, they hire and "train" counselors to do tax returns for the poor slobs (idiots) who can't figure out a 1040EZ. Then, they charge what I consider to be an outrageous price to input the W-2 information onto a form - and, with no effort - proudly tell their customer that their taxes are done! Woo-Woo! THEN - they offer an "instant refund" at an outrageous interest rate to those same idiots who don't know better. Yeah, I know - if the market will support it - somebody will do it.... It just irks me, that's all.... Who knows.. maybe deep down inside, it just pisses me off that I didn't think of it first!!"

DaveinJapan said: "lol...well, they seem to have a lot of suckers, because they annouced recent tax "sales" and the PPS went up even more (buyed by the upgrade). Are the people just buying a brand? Or is HRB really a good value? I really wonder, considering they are a subprime mortgage lender as well (predatory on all levels, sounds like)?? But then again, I'm underwater on my short so what do *I* know?? :p"

drdan said: "[QUOTE=DaveinJapan]Are the people just buying a brand? Or is HRB really a good value?[/QUOTE] Marketing! Marketing! Marketing! There is a generalized fear of the IRS and companies like H&R Block prey on that fear and they do it very well. Somehow they have escaped the bad publicity about them..such as 80% of their returns have mistakes on them and that they are not qualified CPA's and thanks to the government they do not have to be. Last year there was a law passed that all CPA's have to follow which REQUIRES more documentation be provided to the CPA because they are now held accountable (pun not intended) for it. H&R Block, Jackson Hewitt and the rest lobbied their way out of it since they do not hire CPA's to do the actual tax forms! Personally my accountant cost me some bucks but saves me a whole lot more. I have paid less than 10% tax every year since I started using him. I would never trust H&R or any other crappy tax document company to do my taxes, but obviously due to their marketing there are those that will. One last comment before I step down off the soapbox - why wouldn't people use these companies. The majority of people know nothing about finance and money anyway. Here on this forum we are looking at a small sub group of the population that actually knows something. Even the newbie trader most likely knows more than the general population, at least they know to get knowledge to beat out the crappy returns they are getting in their savings accounts and 401K's."

thezster said: "[QUOTE=drdan]. I have paid less than 10% tax every year since I started using him. .[/QUOTE] Now "That's outstanding". :not_worthy: I usually average between 11 - 12% overall, which, up till now, I thought was pretty good. :angry:"

drdan said: "Not too outstanding when you consider that guys like "The Donald" pay around 4 to 5%. Still in order to do this everything has to become a write off which entails owning companies or partnerships. I am involved in three right now!"

drdan said: "One other thing that helps see is you have to remember I have 4 kids! Expensive little write-offs that they are!"

thezster said: "[QUOTE=drdan]One other thing that helps see is you have to remember I have 4 kids! Expensive little write-offs that they are![/QUOTE] I hear ya... Those munchkins "look good" on the 1040 - but, in reality, you take it in the backside every year! But - they're so "cute", right?:signs053:"

drdan said: "[QUOTE=thezster]I hear ya... Those munchkins "look good" on the 1040 - but, in reality, you take it in the backside every year! But - they're so "cute", right?:signs053:[/QUOTE] Yeah they're so cute that I am scheduled for a snip and clip next month! Its all good right now I have no teenagers and my littlest one is 4 months old and sleeps through the night in her own room. I am set for a few years until my 8 year old starts high school!"

thezster said: "[QUOTE=drdan]Yeah they're so cute that I am scheduled for a snip and clip next month! [/QUOTE] Got mine the week after my current 3 year was born.... Ahhhh Freedom!!"

Mr. Gekko said: "I remember last year that HRB was audited. Yeah... a tax preparer that can't prepare their own taxes, [B]that's[/B] a good investment!!! :signs053:"

bullofspadez said: "I can't say my experience was bad with them. This was my first year tryin them out and it cost me like 300 bucks. Which would have gave 10 years worth with my old tax preparer. I think if i do use them again it will try there online software. Unless something horrible happens with my return."