A $127,000 (PLUS) error!!
If you're considering Block Advisors (H&R Block) for your taxes, read what happened to me last year before you make that mistake. The financial ramifications were severe!
I sold my house at the end of 2020, so when I called Linda Mar Block Advisors in early 2021, I explained that this was THE most important meeting of my life, as I needed to determine the tax ramifications of the sale, specifically my Capital Gains Tax.
They set up an appointment in March with their "best tax professional." I brought in all of my paperwork and after 2.5 hours (30 minutes past closing), of talking things through (and hearing all about her personal life), I had to leave.
I asked her what she projected for my Capital Gains Tax and she said, "It looks like around $90,000."
After 6 voicemails and 5 emails asking when she'd be finishing my taxes, with NO REPLY, I had to involve the manager who went on and on about how that's not how they treat their customers, etc., etc.
When my taxes were FINALLY completed 4 WEEKS later, my property taxes were not $90,000 but turned out to be $217,000!!!! I understand that it was her best guess at that time, but it's not even CLOSE!
Unfortunately, thinking I had enough in reserve, I decided to start donating $5,000 each to various animal shelters, $1,000 each to a few single moms I knew were struggling, etc. Well, my bad I know, but I figured I could afford it.
Obviously, when the tax bill arrived, I was crushed! I asked what I could do, and their "best" told me I didn't have to pay it now, the government just "needs to see intent to pay." Despite asking several times how I go about that, she kept directing me to just log into their website. I did, and long story short, she was wrong and I started accruing interest and penalties ON TOP OF the huge tax bill!!
More money spent due to their "expert."
I finally met with a different person in their office who said she could help me pay the State tax bill online, so we sat together and I gave her my credit card info so she could do it for me on her computer. When she handed me the printout, I noticed an ADDITIONAL fee of $440!! I asked what that was for and she immediately said she didn't know, but also immediately wrote down the phone number of whatever entity handled the transaction and said I could call them and ask them to waive the fee.
Ok. So I called and guess what? I was told that not only would they not waive the fee, but that Block gets a percentage of that fee!! So the "expert" knew all along!!
More money spent due to another "expert."
I called the manager again about the entire situation and long story short, she said no one had given me any of the advice I stated, despite her not even being there during these conversations (and despite them actually happening)! I was livid!
It took me two separate credit cards at a ridiculous interest rate to pay the government and I even had to sell my SUV (which I loved) so I could use that money to pay with because of this.
More money spent due to another "expert."
Oh, and I paid around $600 for their "expert" work.
I still don't know who I'm using this year, but I will NEVER use Block Advisors again and I will post this story every single year at tax time because of their ineptitude!! read more