Tax Preparation Course

[tabbycat31]

Re: Tax Preparation Course

I'm doing it right now, and I also worked at HRB this Spring as the receptionist. I plan on doing tax returns this year.

[greedy4chips]

Re: Tax Preparation Course

Wow you pay to learn the H&R Block computer tax system and then they pay you to work, if and only if you pass the course. What happened to hiring someone and then training them to do the job?

That being said, I would love to do taxes for people in my spare time, but most people expect you to perform some miracles when none are possible. You have income, deductions, credits, and you pay taxes on the AGI amt. No magic there folks! Problem is most people don't plan ahead and figure out how to maximize their return until they sit down with the taxman on April 12th...Doh! 3 days to go and you want how much back and why do you think you deserve that?

I would rather be the guy who sits down with them and does a budget, savings & investment planning, and tax planning versus the person who is expected to wave the magic wand over a year of poor planning.

[tabbycat31]

Re: Tax Preparation Course

The course is 66 hours long. And that's just one (they offer advanced ones for their employees only).

Most companies do not spend that much time training their employees. That being said, they do charge the employees to take the class, but for a fraction of what they charge the general public ($200 for the public, $20 for employees)

[Snoopy2645]

Re: Tax Preparation Course

Well when my mom worked for them they paid her for training hours & yes she always had people who expected a miracle!!!

[b4freedom]

Re: Tax Preparation Course

I'm doing it right now, and I also worked at HRB this Spring as the receptionist. I plan on doing tax returns this year.

And how much do they pay to do tax returns?

[MoneyHoney]

Re: Tax Preparation Course

They pay $10 @ hour as a flat rate for preparing tax returns. They also give tax preparers bonuses for referring customers to H&R Block financial advisors who sell IRAs, 1st mortgages, 2nd mortgages, etc.

A lot of emphasis is being placed on making these referrals. That's been a disappointing part of my class. Personally, I don't want the pressure of making referrals.

However, at least I'm learning enough about taxes that I'll certainly be able to do my own returns instead of paying someone else to do them. It's also good to know about income taxes for your own personal financial planning. I didn't have a clue about taxes before I took this class.

[catlinye_maker]

Re: Tax Preparation Course

In addition to H&R Block, Jackson Hewitt and Liberty Tax service also offer tax classes and part time work, and seem to be more focused on taxes and not other services. If H&R Block doesn't work for you try the other two. None of them pay very very well. I think that most Liberty franchises offer a small commission on the returns you do in addition to wages.

Often people do expect you to work miracles, but often there are tax laws that can benefit them that they don't know about, so sometimes you can.

[debtfreeme]

Re: Tax Preparation Course

I am interested in signing up for the course. How flexible are they will having to miss class? Do you think you could make up the class by going to another scheduled course? What is the out of class work load like?

if there are additional courses in the area you can repeat or make up a class as needed.

[debtfreeme]

Re: Tax Preparation Course

$10 per hour (usually) plus a commission on the number of returns you do paid at the end of the year. the commission averages 2k for the first year people.

the next year they raise your "billing rate" (the time it takes you to do the taxes and bill the customer) and you can make more in the commission and the per hour thing.

the course has been challenging a bit but also boring as the people in the class are just not grasping the process.

[b4freedom]

Bad Deal!

Working for HR Block is a very bad deal.

If you're looking for a part time job this course will cost you more then $199. You'll have to calculate in the cost of not getting a different job. For example, in my state, the minimum wage is $7.15/hour. If I take the course, I'll have to spend 66 hours in class. That's 66 hours not earning income at $7.15/hour. During the time that I just paid to try and learn to do data entry into a predetermined software package I could have earned $471.90 (66 x $7.15). So, I add that to my $199 and the course will end up costing me $670.90. But, as pointed out by another poster, I'll have to add in study time. According to the post, at least as much time is spent studying as is spent in the classroom. And I'll want to study, because I'm paying for a course. So, I add in another 66 hours of study time and that pushes the cost up to $1142.80 (132 x $7.15 + $199). But, what if I could find another job paying as much as HR Block? I'm sure that I could. So, the actual cost would be even higher, in fact it would be $1519 (132 x $10.00 + 199). So, that's the actual cost of taking an HR Block course: Between $471.90 to $1519. That's an expensive course to earn $10/hour.

How long would it take you to break even? Let's assume that you found another job, you're earning money at the other job while you're paying for the course. If your other job pays as much as HR Block, then you'll never break even, you'll always be $1519 ahead.

However, if you're brilliant and never study and find a job paying $7.15/hour then at what point do break even?

Let me illustrate --

HR BLOCK: You pay $199. You start off negative $199. (Earnings so far: -$199)
Alternative Job: You don't have to pay anything to get this job. You start off with $0. (Earnings so far: $0)
HR BLOCK: The first 66 hours are spent in the course earning you nothing. (Earnings so far: -$199)
Alternative Job: You start earning $7.15/hour, they even pay you for your training. You work 66 hours. (Earnings so far: $471.90. $66 x $7.15)
HR BLOCK: You're one of the lucky ones picked because you scored high on the test. You start working and earn $10/hour. You're first week you work 40 hours. (Earnings so far: $201. $10 x 40 minus$199)
Alternative Job: You work another 40 hours. (Earnings so far: $757.90. $7.15 x 40 + $201)

ETC ETC ETC... (Continue the illustration on your own to verify my math.)

How many hours would you have to spend at HR Block before you would net more then working someplace else at $7.15/hour? Roughly 302 hours! You're not really going to earn $10/hour at HR Block. You're really earning $10/hour minus what it cost you to earn $10/hour.

I'd say, save your time/money and look for a job that pays as much as they pay but doesn't charge you to learn the job.

HR Block should be ashamed of themselves. Furthermore, now that I know how much the person behind the desk actually makes, I'd never go to HR Block.

[tabbycat31]

Re: Tax Preparation Course

Actually I did work for H&R Block this tax season, while not as a tax preparer (that will be next year), I think they're a great company to work for, and in terms of respecting their employees, the best company on my resume.

I am enrolled in the class for $20 instead of $200. I worked as their receptionist in the tax season.

[Elgin526]

Re: Bad Deal!

Working for HR Block is a very bad deal.

If you're looking for a part time job this course will cost you more then $199. You'll have to calculate in the cost of not getting a different job. For example, in my state, the minimum wage is $7.15/hour. If I take the course, I'll have to spend 66 hours in class. That's 66 hours not earning income at $7.15/hour. During the time that I just paid to try and learn to do data entry into a predetermined software package I could have earned $471.90 (66 x $7.15). So, I add that to my $199 and the course will end up costing me $670.90. But, as pointed out by another poster, I'll have to add in study time. According to the post, at least as much time is spent studying as is spent in the classroom. And I'll want to study, because I'm paying for a course. So, I add in another 66 hours of study time and that pushes the cost up to $1142.80 (132 x $7.15 + $199). But, what if I could find another job paying as much as HR Block? I'm sure that I could. So, the actual cost would be even higher, in fact it would be $1519 (132 x $10.00 + 199). So, that's the actual cost of taking an HR Block course: Between $471.90 to $1519. That's an expensive course to earn $10/hour.

How long would it take you to break even? Let's assume that you found another job, you're earning money at the other job while you're paying for the course. If your other job pays as much as HR Block, then you'll never break even, you'll always be $1519 ahead.

However, if you're brilliant and never study and find a job paying $7.15/hour then at what point do break even?

Let me illustrate --

HR BLOCK: You pay $199. You start off negative $199. (Earnings so far: -$199)
Alternative Job: You don't have to pay anything to get this job. You start off with $0. (Earnings so far: $0)
HR BLOCK: The first 66 hours are spent in the course earning you nothing. (Earnings so far: -$199)
Alternative Job: You start earning $7.15/hour, they even pay you for your training. You work 66 hours. (Earnings so far: $471.90. $66 x $7.15)
HR BLOCK: You're one of the lucky ones picked because you scored high on the test. You start working and earn $10/hour. You're first week you work 40 hours. (Earnings so far: $201. $10 x 40 minus$199)
Alternative Job: You work another 40 hours. (Earnings so far: $757.90. $7.15 x 40 + $201)

ETC ETC ETC... (Continue the illustration on your own to verify my math.)

How many hours would you have to spend at HR Block before you would net more then working someplace else at $7.15/hour? Roughly 302 hours! You're not really going to earn $10/hour at HR Block. You're really earning $10/hour minus what it cost you to earn $10/hour.

I'd say, save your time/money and look for a job that pays as much as they pay but doesn't charge you to learn the job.

HR Block should be ashamed of themselves. Furthermore, now that I know how much the person behind the desk actually makes, I'd never go to HR Block.

Ah, but this is true only in the first year! The following years, you can just start working when tax season comes around. Plus you take that knowledge with you and you can do your own taxes, and those of your friends and family if you are so inclined. Every job has it's benifits and drawbacks.