Wave allows US businesses to file taxes through Block Advisors, who are part of H&R Block. This integration lets you use your accounting data in Wave for tax filing.
The available filing options in your Wave account depend on your business structure, as this dictates the type of filing required by the IRS.
How do I contact Block Advisors?
For general inquiries, call H&R Block at 1-800-HR-BLOCK (472-5625).
If you're already working with a tax pro, log into your Block Advisors account to use secure messaging or schedule a phone appointment.
Why do I only have the option to file with a tax advisor?
If your business is structured as a multi-member LLC, S-Corp, or C-Corp, the required IRS filing is more complex than the Schedule C return used by sole proprietors and single-member LLCs. Wave allows you to connect with a tax pro to navigate these complexities.
If you selected the wrong business type, scroll to the bottom of the Tax Filing page and click Tell us how your business is structured.
How much does it cost to use Block Advisors?
The cost depends on your business structure and the required IRS filing. For pricing details, log in to your Wave account and click on Tax Filing in the left-side menu.
How do I file with a Block Advisor tax pro?
On the left-side menu, click Tax Filing > File with a tax advisor.
- For Schedule C returns: Follow the prompts to set up your Block Advisors account. Assign transactions to the relevant IRS categories and upload necessary documents. A small business tax pro from Block Advisors will prepare your return.
- For multi-member LLCs, S-Corps, or C-Corps: Add your tax pro as a collaborator in your Wave account using Tax pro (Block Advisors). They will use your Wave reports to prepare your return.
What can a Block Advisor tax pro collaborator access in my Wave account?
Block Advisor tax pro collaborators have read-only access to:
- Reports
- Accounting
- Sales
- Purchases
- Payroll (if applicable)
- User management
Do I need to schedule an in-person appointment with my tax pro?
No, there is no need for an in-person meeting. Your tax pro can file virtually, providing access to their expertise from anywhere.
How do I add a tax pro to my Wave account?
To learn how to add a tax pro to your Wave account, read Invite or remove collaborators from your business.
What do I have to do to file by myself?
- Create your Block Advisors account: Start with personal questions to determine your filing status.
- Verify business information: Follow the prompts to confirm or complete your business details.
- Assign income and expenses: Ensure all your transactions from Wave are categorized correctly. Review any uncategorized items.
- Complete additional information: If necessary, provide details on expenses like mileage or home office deductions.
If you have questions while filing, use Online Assist for unlimited live help from Block Advisors tax experts.
What data is sent from Wave to Block Advisors?
Wave sends the following information to Block Advisors:
- Basic information such as your business name and address
- Balances of all categories on your Profit & Loss report for the entire tax year will be added to the Schedule C section of your 1040.
Wave sends the cash basis Profit & Loss balances, which is the most common for small businesses. Check your previous year's Schedule C to confirm you file this way. Look for question F: Accounting Method at the top of page 1. If the box next to (1) Cash is checked, you’re filing correctly.
Can I file with Wave and Block Advisors if I haven’t categorized all of my transactions?
You can start your return without categorizing all transactions. However, you will receive reminders to finish this process. Follow the prompts to return to your Transactions page in Wave and categorize any uncategorized transactions.
After categorization, click re-import Wave data on your tax return to ensure the transaction categories are updated on your return. Any accounting adjustments made on Block Advisors are overwritten if you re-import data.
Can I complete tax filing if I haven’t reconciled my accounts?
Wave strongly recommends you reconcile your accounts before filing to ensure they are accurate. However, you can still file with Block Advisors without reconciling your accounts.