waverley square location for probably over fifteen years this year because the side it to launch a new brand is still part of h and r block but the focus of black advisors launched this january the intent is as a request of our clients that they want a year round office that clients can go to and form a relationship with their tax advisor so that doing taxes is not a once a year a vent it's a situation where their clients that want to be able to ask questions of their  preparer and to avoid any surprises when they do their taxes ok now what kind of experience would would i mean typically they would have people that would come in to prepare the taxes they'd be there during tax season  know the typical model people need to have the taxes done they come into the office they bring all their paperwork we prepare the return we guarantee the results and we file their taxes there are a number of clients that have more complex returns on small business owner may have more complex situations where they need more help in getting their taxes done as well as to do tax planning so that they can minimize their tax liability at the end of the year ok you had a grand opening back in january i guess yes we had we had some care people there and we can do a little bit of the film here take a look at the festivities as are unrolled agents that are of that can present represent clients before the i r s and some of them have very seen your credentials within the training and i don't they tax pro that works in an office has anywhere from forty to one hundred hours of training that they do before they can practice during the year well you know that's that's that's very very interesting  the what type of client would would would want to go with the you mentioned the small business you mention i mean somebody that might have a slightly complicated tax return so i mean what what type of what type of that are probably best suited for a block advisor office not to say that other clients wouldn't benefit but the clients that need more hand holding or have questions on how the taxes are done what are the things that they can do in preparation for their return a lot of clients come in with their paperwork and everything's locked in their w to complete their their statements are complete and all we're doing is is making the best and taking the advantage of all the deductions that a client has with that paperwork what we're starting to do is look at the return prior to the client coming in and so that they can take advantage of some tax strategies to save on their taxes not just look at the refund but how to minimize their tax liability there are lots of things that they can do so much how do you how do you build for this of so for example suppose i was a good manager become a client of black advisors ok what would i what would i do it hour we basically charge for the tax return and once a client you have that have the opportunity year around to call up and say here i get this situation that just came up to sell my house i just got a big bonus what do i do i just added a new member to my family what is that going to do to my taxes and so we sit down and go through all this and do a ta check up mid season and say here you should do this given your situation and this will help you minimize your taxes i mean there are so many people that are in a situation where they could really take advantage of this kind of services no question implications on selling the house i mean they were enormous they're it's complex it's very very complex and and you know people say well gee you know i did some home improvements and you have the receipts you need the receipts you just have to log in with the with the actual with the actual savers credit and they can get up to fifty percent of what they put away into retirement as a credit on the return i mean about this so if your income is in the twenty thousand dollars range if you put some money away into retirement like a four a one k ordinary or a depending on what your setup is with your employer you put that away that the government will give you a credit savers credit because the government wants people to say for retirement and they'll give the money back on their return for putting money away they don't lose the money they just have to put it into a savings pension or a retirement account that they can't touch until they are ready to retire but does it go into the retirement from after taxes or before taxes it goes in before tax or taxes so that amount they put in is not taxed ok you get a double hit you save on the tax plus you get a credit well i wasn't aware of that but there's a lot of things that we're aware of and that's what we try to help our clients take advantage of that the other question that that i'm always wondering about is what do with all these tax documents i've got boxes and boxes tax returns and receipts and so forth and you know i'm really not sure how long i need to keep the years because that's how far the ira is typically well ok you're looking for receipts business documents purchase of a home your hard statement those are things you want to keep as long as you own the home so that by the time you're ready to sell you have a document that says this is what i purchased the home for and any documents that you have for home improvements so what you improve will add to the basis of your house and minimize your profits on the sale but as an investor supposing you know the small investor you know spend of thousand dollars or two thousand miles a year buying stock be able to substantiate the basis of your stock so that is you reinvest the money you know how much of reinvested so you know what your basis is to come time to sell the stock you can subtract the basis from your net proceeds the proceeds so without those documents that sort of like i'm guessing right now is there any any particular tax tips you want to you want to give us right now i mean what we just you know  is don't ignore any letters from the i r s or department revenue so when they come in they give you thirty to sixty days to respond typically there's something that's missing in this tax year  the a c a which is the health care that was initiated and there are some complexity in there if they give you a discount because of your income and you  happen to make a lot more money and the government's going to want back some of that discount they gave you so they'll send you a letter saying you're missing your ten ninety five a form and we want you to make sure that you keep confidential yourself security know your date of birth the personal information but there's been a number of companies that have been hacked where that information is stall and people are using that information to file a false return doesn't affect your refund they get away with getting a refund based on the fragile information they give the i r s and the i losing five billion dollars a year and they're trying to stop that and they have techniques that they're using to avert that the impact to the client is that when they file their return that so security has already been use so that the electronic return will be rejected and then the client has to go in and will help them fill out an affidavit form to file their return but it's got to be a paper file which could find out what their specialty is because a lot of the tax pros have specialties like real estate or stock or retirement they're all these areas have a lot of complex city and they'll help walk you through opportunity please stop by and see block advisers in waverly square until next time i'm angela frenzy and this is the belmont business report