March 11, 2010
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Your Financial Services Franchise News SourceFranchise News Watch brings you the latest in financial services franchising news from around the web. As a news aggregator for the financial services franchise industry, Franchise News Watch streams the latest ground breaking franchise articles, features, guides, blogs, news and more directly to your desktop.  Financial Services Franchise NewsJackson Hewitt(R) Offers 25% Savings on Company's New Online Tax Preparation ServiceJackson Hewitt Tax Service(R) announces a 25% discount* off the cost of its new online tax preparation product, Jackson Hewitt(R) Online. The discount offer begins today and runs through April 15, 2010. The 25% discount applies to... Liberty Tax Urges Taxpayers to Act Now to File 2006 Tax Returns and Claim Refunds DueAre you one of approximately 1.4 million people to whom the IRS owes refund money from tax year 2006? There's more than $1.3 billion outstanding, with the median amount owed averaging about $600. Liberty Tax Service urges taxpayers who can claim...
Jackson Hewitt Tax Service(R) Cites Five Most Important Tax Law Changes for 2010Each year, taxpayers leave money on the table by failing to claim deductions and credits available to them when filing their annual tax returns. The Silver Spring, MD Jackson Hewitt Tax Service(R) office highlight the five most important tax law...
Tax Law Can Help Reduce Burden On Military SpousesThe Military Spouses Residency Relief Act of 2009 could potentially help thousands of active duty service persons and members of the National Guard reduce the complexity of state income tax and personal property tax issues when married, stated Jackson...
Jackson Hewitt(R) Weekly 'Tax Time Tip': Why Filing A 2009 Tax Return May Be Advantageous For Individuals Not Required To Do So By LawNot everyone is required to file an annual tax return. However, hundreds of changes to the tax code for 2009 present advantages for many individuals to file – even if they are not obligated to by law. With Form W-2's and other key tax documents now
Jackson Hewitt Alerts Taxpayers to Choose Wisely in Selecting Tax Return Filing StatusWith so many pro-taxpayer credits and deductions available this year, filers need to be especially careful in selecting the correct filing status on their tax returns, according to Jackson Hewitt Tax Service(R). Choosing an incorrect filing status can...
Liberty Tax Service Honors Presidential Last Names with Free Preparation on Presidents DayPresidential savings are in order for new customers with last names of United States presidents at participating Liberty Tax Service offices on Monday, February 15, 2010. Liberty hails those with the names of past presidents by liberating them from tax... Jackson Hewitt(R) Weekly 'Tax Time Tip': Joys of Child Rearing Include Child-Related Tax BenefitsHaving a child is one of the most important milestones in many people's lives, and while tax savings are not the first things that enter a parent's mind, it is during tax filing time that many parents realize that there are a substantial number of... Jackson Hewitt to Report Fiscal 2010 Third Quarter Results on March 11, 2010Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (NYSE: JTX) announced today that it will report its fiscal 2010 third quarter results prior to the opening of trading on the New York Stock Exchange on Thursday, March 11, 2010.
Liberty Tax Service Experiences Significant Early Season GrowthLiberty Tax Service reports an 18% increase in the number of returns filed through January 31, (compared to the same time period last year), and a robust 36% increase in revenue. Same store sales are also up over 25%. Liberty Tax grew its number of... Newly Wed In 2009? Jackson Hewitt Reminds Couples About Options When Filing As 'Mr. & Mrs.' For The First TimeCouples who walked down the aisle in 2009 may still be in the "Honeymoon Phase," but during this time of the year, the decision on how to file their annual tax return is an important one that couples must make. This week's "Tax Time Tip" from Jackson... Jackson Hewitt Launches Online Video Series on Key Tax Topics for 2010 Tax SeasonJackson Hewitt Tax Service® has launched its annual Tax Tip Video series, as part of its ongoing efforts to make new and updated tax rules and information easily accessible to consumers. These brief, informational segments - easily accessed on the...
Accounting Franchise Announces Military Veterans Program: Offers Steep Start-Up DiscountsBookKeeping Express, the first U.S. franchise focused solely on certified bookkeeping services, has announced it is offering a 20% discount on franchises for qualified military veterans. The savings will equal $6,000. BookKeeping Express enacted this...
Silver Spring, Four Corners Jackson Hewitt(R) Offers Tips for Choosing a Tax PreparerWith the 2010 tax filing season underway, many Silver Spring taxpayers may be wondering where to turn for help in filing their annual tax returns. For them and the millions of taxpayers who will reach out for professional tax preparation now and over... Roni Deutch, The Tax Lady, Believes President Obama's Proposed Tax Changes Do Not Go Far Enough to Help Small Businesses and the U.S. EconomyRoni Deutch, a leading authority on taxation and author of The Tax Lady's Guide to Beating the IRS, says that the new policies proposed last night by President Obama do not go far enough and may not be the solution to creating more jobs... Jackson Hewitt(R) Weekly 'Tax Time Tip': How Single Parents Can Claim Child-Related Tax BenefitsWhether a single parent to a toddler or a teen, there are often significant tax benefits available to those who can claim dependents. Jackson Hewitt Tax Service® reminds single parents to get smart about the child-related tax credits and deductions... Liberty Tax Service Launches Nationwide Search To Find America's Next Lady LibertyLiberty Tax Service, the fastest-growing international tax preparation firm in the world, today launched a search to find the company's official spokesperson. Applications for America's Next Lady Liberty will be accepted starting today and will close...
Liberty Tax Outlines the Latest Tax Circumstances That Pertain to Children and Families for Filing a 2009 Tax ReturnFrom the cradle to college, children's lives greatly impact the tax situations of their families. Liberty Tax Service advises you any child born on December 31st of 2009 or before can be claimed for the entire year of 2009. Liberty Tax Investigates Educational Tax Breaks That Make the Grade for Students and TeachersThe good news about the rising cost of higher education is that students and their families may take advantage of even more tax breaks and credits to offset expenses like tuition and fees. Liberty Tax Service advises taxpayers in school or with family...
New Bill Signed by President Obama Allows Taxpayers to Claim Haiti-Related Contributions on 2009 Tax ReturnTaxpayers wishing to lend their support to relief efforts in Haiti now have an additional incentive to do so, thanks to new legislation signed into law by President Obama. Jackson Hewitt(R) Four Corner Office Asks: Want a Tax Refund Fast?The Four Corners office of Jackson Hewitt Tax Service(R), encourages tax payers to file early this tax season, especially if they are expecting an income tax refund. On January 15, 2010 the IRS had its season launch of IRS e-file, allowing tax... Liberty Tax Service Urges Taxpayers to Help Haitian Relief Efforts and Help Themselves to an Immediate Tax BreakTaxpayers donating to the Haitian relief efforts can reap an immediate tax break. Donations for the Haitian relief made to IRS-approved charities before the end of February 2010 can be written off on a 2009 tax return. Liberty Tax Service has...
Roni Deutch Tax Center Joins Forces to Prevent Child AbuseRoni Deutch Tax Center is joining the movement to prevent child abuse. With tax season here, Roni Deutch Tax Center has decided not only to help individuals with their seasonal tax return preparation, but also bring awareness to a bigger issue. Jackson Hewitt(R) Kicks Off Weekly 'Tax Time Tip' SeriesMillions of consumers turn to tax professionals each year to have their tax returns prepared and filed. But the question is, do they know what exactly to look for when choosing a preparer? Jackson Hewitt Tax Service(R) covers this issue as the...
Liberty Tax Launches Ad Campaign with Focus on Services to Customers: "It's Time to Change Your Tax Preparer"As many as 2.2 million American taxpayers are overpaying their taxes by overlooking deductions and tax breaks, according to a General Accounting Office survey. Sadly, the majority of these are middle-class workers whose incomes fall between $25, 000... Want a Tax Refund Sooner? Jackson Hewitt(R) Reminds Taxpayers to File Early and Have Tax Preparer Use IRS e-fileTomorrow – Friday, January 15 – the Internal Revenue Service will begin accepting electronically filed 2009 tax returns with the season launch of IRS e-file. Jackson Hewitt Tax Service® locations across the country are open to assist new a
The Tax Lady's Guide To Beating The Irs And Saving Big Bucks On Your TaxesAmericans are addicted to receiving a tax refund, but most don't take full advantage of all the deductions that are available and lose money every year. Compounding the problem, 2009 was one of the biggest years for tax law change in history. Jackson Hewitt Provides Vital Tax Benefit Information for Unemployed Taxpayers in the Silver Spring AreaWith a national unemployment rate still hovering around ten percent and the unemployment rate in Maryland still at 7.2%, Silver Spring residents continue to feel the financial pinch. The local Four Corners office of Jackson Hewitt Tax... Jackson Hewitt(R) CEO Harry Buckley Heralds 2010 Tax Season By Ringing The Closing Bell(SM) At New York Stock ExchangeGiven the significant number of consumer-friendly tax changes signed into law in 2009, tax changes should be top of mind for tax filers this tax season. In recognition of the start of the 2010 tax season, Harry W. Buckley, President and CEO, Jackson... Liberty Tax Service is Ready For Internal Tax Preparer Certification ProgramWith a tax preparer certification process in place since 2007, Liberty Tax Service is poised for stricter IRS standards on tax preparers that may take effect in the next few years. Liberty Tax took a proactive approach toward professional... |
Features & Special ReportsIs it Time for an Operating Cost Audit?: Franchise Tenants Unite!When was the last time you challenged a landlord or property manager about the operating expenses or common area maintenance (CAM) charges? Probably not recently or never, right? To clarify, operating costs are the day-to-day management and maintenance expenses charged to the tenant; examples include asphalt repairs, snow removal, property insurance, and so on. Franchise tenants pay a proportionate share of these costs based on the space they occupy. Therefore, if a franchise tenant occupies 12 percent of a building, he or she will pay for 12 percent of the operating costs. Paying by this said ratio is the industry standard but, of course, there are deviations for special circumstances like free-standing buildings and so on. "Old School" Communication: Cell Phone Texting Builds Customer TrafficConsidering the wide-ranging abilities of today's smartphones, simple text messaging may seem passé, but it's a basic social media tool that's working wonders for Chris Kramolis' franchise operation. He's been using text messages to build business and compile a database of his customers--and he doesn't see any reason to deviate from something that's working. Discovering Oil: Multi-unit Operator Strikes it Rich with Oil Change FranchisesDarrell Lamb remembers toiling away in the heyday of the mid-90s stock market. He was always searching for new investors, and on the lookout for hot investments. One day some of his advisers told him about an opportunity - a chance to invest in the Express Oil Change franchise. He had reason to trust the advisers since they were his uncle, who was president of the company, and his dad, an Alabama optometrist who was always interested in investing in growing ventures. Capital AccessDustin Winkle was a victim of the dot-com crash a few years back. While pondering his next career move, he visited with family members who operated some dry cleaning stores. He liked what he heard and purchased his first Martinizing Dry Cleaners stores six hours away in Yakima, Wash. It was a long commute from his home in Boise, Idaho, but he loved the business. Three years later his family was ready to sell its dry cleaning stores and Winkle was more than happy to buy some units closer to home. Today he operates 10 Martinizing Dry Cleaning stores (and one non-Martinizing unit) in the Boise area. Multi-Tasking: What It Takes To Be A Successful Multi-Unit FranchiseeTwenty years ago, franchising meant buying the rights to and opening a single unit or business. But a changing trend has taken hold during the last two decades. Today, it's not uncommon for a single franchise operator to have 5, 6, or even dozens of units. FRANdata research notes the number of multi-unit operators now tops 34,000, and those operators control more than 155,000 franchised units in the U.S. It's a growth strategy that has proven effective but it should be approached with caution. Multi-unit operators are generally wired differently then their single-unit counterparts. Successful multi-unit operators are typically experienced, skilled, professional business executives who have chosen franchising as their business model. They possess the skills, training, capital, infrastructure, and vision to operate numerous units and have the ability to continue adding units to their portfolio--without stressing their organization or their stomach. Episode 006: The Benefits of a Franchise ModelFranchising provides benefits for both seller and buyer. For franchisors, the primary benefit is the ability to use other people's money to expand the brand more rapidly than they could either on their own or through investors or lenders. The initial franchise fee and ongoing royalties they collect allow franchisors to build their brand without sacrificing control to outsiders or the pressure of repaying lenders. Measure for Measure: Unit Economics Plays a Leading Role on Today's Economic StageThe most fundamental business strategy calls for black numbers on the bottom line. In simplest terms, it's proof the business is generating more cash than it is spending. All too often, though, entrepreneurs get involved in businesses without employing a proper system to help them keep a watchful eye on what they're earning and what they're spending. Managing day-to-day operations can be so time-consuming that it leaves little room for financial analysis. Or perhaps key individuals lack a basic understanding of how to read and interpret financial statements. Combine these factors with the down economy, and you'll likely wind up with a troubled business. Service Based Franchising: Where the Action IsLast week we ended our discussion of service concepts with the point that many of these businesses are based on customers making the choice to trade money (surplus) for time (deficit). The example we used was maid services, where time-starved customers spend money to buy time they can spend with their family and friends. Other examples of businesses built on services that customers could perform themselves but choose to pay someone else for include lawn and landscaping services, residential painting, oil change, and installation of home entertainment systems. Seven Steps to Fiscal Fitness: A "Fiscal Physical" Will Help Your Business Survive, Grow, and ProsperIn the few minutes it takes you to read this article, 40 businesses across the nation will fail--and that statistic was [i]before[/i] the economic downturn of the last 24 months. Tragic? Yes. Remarkable? Not at all. The road to business success is littered with the skeletons of companies whose owners--mostly brilliant and skilled individuals--failed to "take care of business" in the financial management of their enterprise. Service Based Franchising: What Franchisors WantWhen you first consider franchising as a business model, one of the choices that arises is which type of business, in which sector, suits you best. One basic choice is to make is goods or service; another is retail or home-based. In previous months, we've explored ways to find the sector, and the franchisor, most likely to give you the best chance of success. More recently, in the previous four weeks, we've discussed the attributes franchisors look for in franchise candidates in the retail sector and in the home-based sector. Here we apply the same lens to the services sector. Let's begin with the similarities. All franchisors want candidates who follow the system, pay royalties on time, possess marketing skills and savvy, know how to run a business, show leadership and growth potential, are good communicators, and are expansion-minded, community-oriented, and willing to give back to the system. Franchisors look for these skills whether you choose a service, retail, B2B, or other concept.
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