Jackson Hewitt Tax Services expects that the number of tax returns prepared by the chain for the 2010 tax season will fall by 17 to 19 percent as the loss of funding for half of the company's refund anticipation loan program cut into financial results. The company also said results by the end of the fourth quarter ending April 30 would result in its violating financial covenants with its lender
IRVINE, Calif. - Sage North America has added a learning track at its Insights reseller conference that is designed for CPAs, accountants and bookkeepers. It is the first time such a track has been offered at the annual event, which is scheduled for May 17 through 20 at the Colorado Convention Center in Denver.
McGladrey & Pullen will pick up two more percentage points in the profits of RSM McGladrey, but it also agreed to start paying for more of the expenses as a result of the new operating agreement between the two firms. The results were spelled out this week by C.E. Andrews, president of RSM McGladrey, during the third quarter Webcast of the unit's parent H&R Block, who said most of the terms go into effect on May 1.
InterDyn Socius, a Microsoft and Sage reseller based in Ohio, has acquired the Dynamics practice of CBiz Technologies, extending Socius' operations to Tennessee, Kansas and northern California. The purchase follows CBiz recent disclosure it was selling three companies as it exited the technology business
H&R Block got through the first weeks of tax season with a drop in business as it reported a 6.2 percent decline in revenue, but a 5 percent rise in net income for the third quarter ended January 31. The company said the revenue drop reflected a 7.1 percent decline in retail tax returns prepared and it had lost two percentage points in market share in selling digital products. Its business operations sector, RSM McGladrey, fared better with a 3.6 percent drop in revenue for the same quarter.
Tom C. Davis, CPA, CITP is a partner at Bowen, Phillips, Carmichael, Davis & Sims and President of Knowledge Concepts, Inc., the developers of FirmWorks.