Last Updated on July 31, 2012 by DeanR
Liberty Tax Service Franchise
Liberty Tax Service is a franchise for a business providing individual and online tax preparation services.
It was founded in 1972 and started franchising in 1973. It was founded by John Hewitt and he is currently the Chief Executive Officer of Liberty Tax Services. He was a regional director of H&R Block and has been a veteran of 41 tax seasons. He was also voted seven times as one of the top 100 influential people by the Accounting Today magazine. He was named entrepreneur of the year in February 2006 by The International Franchise Association. Liberty Tax Service was first opened in Canada and used to have the name U&R Depot. Hewitt acquired it in 1998 and renamed it. They started with having five offices in the United States and grew to 35 offices in 1999. They say that their experience is their key to have been growing as much in such a short time. They are affiliated with Entrepreneur magazine, BBB, IFA, Vet Fran, and Minority Fran. They now have 3,545 locations all over the United States, 236 locations in Canada, and 47 locations that are company owned.
What services do they provide at Liberty Tax Services?
For the basics, they offer year round support, accuracy guarantee, satisfaction guarantee, audit assistance, free consultation, free copies, and correspondence assistance. They also offer Electronic Filing or eFile. The Federal Income Tax Calculator is similar to the W-4 form but it does not replace it. It is used by employees who want to make changes to lower their tax refund or balance due. They also provide free IRS 1040 Tax Form, IRS Tax Forms, Instructions & Publications, IRS W4 Form, Online Tax Preparation, and W-2 Download. For Tax Education, they offer classroom classes and online tax courses. They have Basic Income Tax Course, Rapid Class, and Advanced Online Courses on Schedule C from A to Z, Business Taxes, and Estates, Trusts, and Gifts. They also have different refund and loan options such as Electronic Refund Check or Deposit and Refund Anticipation Loan. They also have a Tax Interview discussing the personal information of each family member, income and tax information, deductions and adjustments, and tax credits.
Cost and requirements on running a Liberty Tax Service franchise
Expect to be investing about $56,000 to $70,000. The Liberty Tax Service franchise fee costs $40,000 with an on-going royalty fee that varies. Terms of agreement could be either perpetual or renewable.
What is included in the franchise package?
There will be one week training at the headquarters, one day at your location, and two day trainings in various cities. You will be receiving newsletters and a toll free phone number. You will be given access to the internet and to purchasing cooperatives. You will be provided assistance at the grand opening. Expect to be attending meetings and receiving occasional field evaluations. For marketing support, there will be ad slicks, local marketing plans, and regional advertising.
Liberty Tax Service Contact Details
You may reach them at:
Address: 1716 Corporate Landing Parkway Virginia Beach, Virginia 23454
Phone: (800) 790-3863 or (757) 493-8855