H&R Block 2017 + Tax Pro Prep.
H&R Block 2017 and New Years Resolutions?
Lots of tax law changes coming in 2017, and it sounds like dynamic changes in the tax code may be on the horizon if Donald Trump gets elected as our next president.
True question for H&R Block is can they get their act together and recover from the significant declines it experienced this year in assisted, and digital do it yourself tax returns prepared using their products.
What's HR Block Doing About It?
The HR Block 2017 product line faces challenges since they just experienced a significant decline this tax season.
H&R Block CEO Bill Cobb has his hands full after announcing that tax return business fell 5.8 percent through April 19 to 12.2 million returns. Tax returns prepared using the company’s tax software products declined 2.6 percent to 6.72 million.
Now the real ouch here is that H&R Block has pretty much always been on the back burner with their software tax products while they focused on professional support tax preparation services.
Does H&R Block Really Get It???
I must say, this has really stumped me over the last 10
years. Lets face it, the financial savings tax payers can
attain by preparing their own tax return sets well with the
struggling incomes experienced by more taxpayers every year.
The HR Block spokesman said that a majority of the decline they experienced settled around early tax season 1040EZ returns and returns that involved the Earned Income Tax Credit.
Cobb stated that the volume losses were not acceptable, and as CEO, he is predicting a very different H&R Block 2017 fiscal year.
Ok, so I'm no rocket scientist but I have to say I hope they are focusing much more energy on their software products since the trend for professional tax services has been on the decline. Plus, there's no doubt it will pick up a ton of speed if the tax code does get simplified under Trump, should he get elected.
Fact be told, H&R Block does need to take a good long hard
look at their business model and understand that the
philosophy of the past is just NOT going to work for the
Cobb stated that he is realigning the field operations and putting the company through a significant cost-reduction effort. Now I'm not sure that is the right avenue since again it seams the software product line is being ignored more than it should be.
Personally I feel the marketing avenues H&R Block has taken over the last two decades have done nothing but slow them down. First we had TaxCut, their software product line that had too common of a search term on the internet. However, once that started to take hold they dropped it and went to "At Home", good lord, now how was that more search friendly???
H&R Block Has Now Announced Leadership Changes for the 2016 - 2017 Tax Year
Changes to their leadership team include:
- Greg Macfarlane takes the role of senior vice president for U.S. retail products and operations for acquisition-and-development efforts and Tax Plus products.
- Tony Bowen has been named as CFO. He has been with H&R Block for 12 years.
- Karen Orosco becomes senior vice president of U.S. Retail Sales and Service, and will oversee the company’s 6,600 retail locations and nearly 80,000 tax professionals.
- Kip Knight will now be senior vice president of U.S. Franchise, Canada and Australia. He will oversee the company’s relationship with 3,600 U.S. franchise locations and operations in Canada and Australia.
H&R Block 2017 operations require a big jumpstart to fend off any additional decline and a kick start to try and regain the territory they have lost.
Going backwards in this highly competitive market can leave you drowning in a sea of dominating competition.
I'm hopeful for them, they do have good products. Nevertheless, they need to focus on the future and market trends to re-grasp their lost territory.
Don't leave it to chance, time is money, just like not taking the time to purchase the right software for your taxes will cost you money.
It's all about knowing when and where you can save, and that's what H&R Block 2017 will help you do, for you, and your family!