My customers appreciate the ability to file their taxes right here in the store and not have to wait for their refund check to arrive in the mail.
Matt Baker, Premier Rental Purchase Franchisee

Rent to Own dealer Matt Baker has provided in-store tax services for years, long before he opened his Premier Rental-Purchase store in Covington, Georgia last fall. He says he does it for two reasons: to better serve his rental-purchase clientele and to generate additional revenue for his store. This year, he'll switch from the more traditional service, modeled after chain tax preparers, and use Liquid Tax as a quicker and more profitable way to process customers' tax returns and get them next-day refunds.

"Everyone knows from preparing their own tax returns that it's not the easiest thing in the world to do," said Baker. "In my previous experience with tax services, employees actually had to prepare customer returns. That requires a large investment in software and an extreme amount of training. However, Liquid Tax prepares the returns so no extensive training or software are required. All my staff has to do is fax a customer information form to them one day and print a check the next. That means we can provide a needed service but continue to focus mainly on our core business – renting and collecting."

In a typical Liquid Tax in-store transaction, the customer supplies his identification, social security number, contact information, W2 and any specifics on his mortgage. Upon receiving this information from the store, Liquid Tax specialists generate and file a tax return as well as authorize payment of a refund. "In no more than 20-25 minutes, the entire process is complete. We serve as the middle man in a very basic way," Baker explained. "It doesn't get more simple. The customer is happy because he gets his check quickly with minimal effort and is charged far less for the service by Liquid Tax than he would be by a traditional tax service. We are happy because we earn a commission with each return. In addition, as customers cash those checks, we'll see them again soon, paying off merchandise, taking advantage of early buyouts as well as cash sales. That's a big revenue source for us on top of commissions for processing their tax return. It's a win-win situation."

According to Ron Loftin, founder and CEO of Liquid Tax, his goal in establishing the company three years ago was to help dealers increase store profits without increasing their overhead. "We offer dealers a lean, two-step program based on their faxing information to us and printing a check for the customer. There is no data entry, no need for tax knowledge, no separate requirement in the store. It's done quickly over the counter. Plus the dealer assumes no liability because we are the preparer of record. Furthermore, there is very little expense on their part. Even the fax number is toll free. We also supply point of purchase marketing material to help them promote the service. It is 100% profitable."

Baker has already begun to lay the groundwork for the upcoming tax season. Posters are in his windows and flyers are ready to go out with his payment reminders. He's expecting the usual crunch between mid-January and mid-March when tax activity will peak. "My customers appreciate the ability to file their taxes right here in the store and not have to wait for their refund check to arrive in the mail," he said. "I'm looking forward to an easy, more profitable tax season, and I think Liquid Tax will be the reason!"

For more information on Liquid Tax, contact Ron Loftin at 888-541-4443.