I used to buy into the idea that pinching of early blooms/pods was a good thing, but I have since stopped using that approach. I had not found it to be very beneficial. I would rather let those early blooms go and produce pods and then let the plant take off again from there an created a second/third wave of peppers. I especially buy into leaving them alone on the sweet peppers as the plants put out far less pods so keeping it from doing so seems to be counter productive. Just my thoughts on the subject.
Bruce

The only reason I ask is cause from what I heard if you leave the early blossoms on supposedly it reduces yields.

When you left the early blossoms/buds on did you notice a reduction in overall yields from your pepper plants or not?

Nope, in my limited experiences, all it seemed to do is delay my plants setting pods and therefore lowered yields in the long run, IMO. It just seemed that letting them flower and fruit early doesn't make them more prolific later on, it just reduces early yields. For really small plants, it might be an issue, but for normally growing plants, I would not snip buds or pods as long as they are outside and actively growing.
Bruce

Oh, and last year I did grow one Bell pepper. I did snip buds due to advice such as you have received. What happened is that once I finally let it start setting fruit, it took so long for them to mature and ripen that only the earliest peppers got full size and only a couple actually ripened. Of course, bell peppers can be eaten green just as well as red, orange or yellow but they are better when fully ripe. I am in S. Central Wisconsin so maybe you have a little longer season that me however.
Bruce

The reason they say that about store bought transplants is because they're generally root-bound triggering the pepper to bloom while it's still very small.

If the plant is very small, I'd consider it. Otherwise, I generally let things be.