Smart Tax featured in Lawn and Landscape Magazine

Smart Tax was featured in Lawn & Landscape Magazine discussing on what small businesses should consider and look out for to keep money in their pockets. Nick Rizzi discussed what things small business owners can easily overlook and slip through the cracks, and points out specific things to keep in mind during tax season. A portion of the article is included below and can be read in its entirety by clicking here.

7 Tax Deductions That Small Businesses Often Overlook

Not many small businesses have a dedicated CPA on board, making it easier to miss deductions that could lower their tax burden. “When people think of deductions they usually think of inventory, payroll, office supplies, rent and utilities,” said Nick Rizzi, CEO of Smart Tax, a Brooklyn, N.Y., tax preparation company. “What they don’t think of are the smaller things.”

This year, be sure to take advantage of all the tax breaks the law provides, starting with these seven areas:

1. Mileage. Be sure you’re deducting trips to meet with clients, run work-related errands and attend meetings and networking events, particularly with personal vehicles. Rizzi cautioned that you’ll need to log the date, destination, and start and end mileage for each trip.

2. Asset deductions. Section 179 of the IRS Code allows small businesses to take a depreciation deduction for certain capital expenditures in one year, rather than depreciating them over a longer period of time. If you’ve been hit hard by the recession, that could allow you to keep a bigger chunk of money in the short run.

3. Specialty items. If you own a building, you may be entitled to state and federal tax savings for building improvements, like adding special wiring or a soundproof room. Certain assets related to such projects qualify for accelerated depreciation, meaning you can take larger tax deductions over a shorter period – increasing your cash flow and lowering the cost of capital in the years following the project. For IRS purposes, be sure to have an engineer or architect conduct a cost segregation study, Rizzi said.

(Read More)

Smart Tax listed by Business News Daily as 1 of 8 Low-Cost Franchise Opportunities for 2011

The New Year is the time for a fresh look on life and many people take it as a time to reevaluate their career paths since it’s such a huge component to anyone’s life. BusinessNewsDaily just published an article about 8 Low-Cost Franchise Opportunities for 2011 and Smart Tax was featured for their low initial investments and being home-based franchises. Check out a portion of the story below or read the full article here:

8 Low-Cost Franchise Opportunities for 2011

If you’re thinking 2011 is the year you’re going to start your own business, you might consider the thousands of franchise opportunities available. The International Franchise Association (IFA) web site is a good place to start pursuing your franchise ownership dream.

The organization relaunched its web site yesterday, adding functionality that makes it easier to access information about its 1,100 franchise members. (Read More)

Smart Tax highlighted in the Queens Ledger

Smart Tax was featured in a Queens Ledger article entitled, “Dude, Where’s my Tax Refund?” The article discusses the recent dilemma where the Postal Service sent $2 million worth of undelivered tax refunds for 1,231 Queens residents back to the Internal Revenue Service due to mailing address errors. Read below for a portion of the story of check out the full article here.

Dude, where's my tax refund?

Queens residents waiting for their tax refunds have their own mailing addresses to blame.

The Postal Service sent $2 million worth of undelivered tax refunds for 1,231 Queens residents back to the Internal Revenue Service due to mailing address errors.

The checks went to people who have not updated their addressees, said IRS spokesperson Dianne Besunder, adding that the federal government is eager to return the money.

“We want [them] to get this money as soon as possible,” she said.

This year the average refund for New York State taxpayers was $2,471, up from $1,581 last year.

The Queens residents still waiting for their checks are owed on average $1,624.

“People are coming in and saying I didn't get my check,” said Nick Rizzi, the owner of Smart Tax, a tax preparation service with 30 locations- including four in Queens- that serves approximately 30,000 clients each tax season. (Read More)

Franchisee Spotlight: Joe Fontana

Q: Where are you originally from?
A: I was born in Brooklyn and raised in Queens, so I am very familiar with the region in which I am opening my new business.

Q: Before Franchising, what were you involved with?
A: Prior to partnering with Smart Tax, I was a Financial Advisor for 17 years. I worked most of my career in Brooklyn, which is where I met Nick Rizzi while working at the same firm. We built a strong working relationship and friendship over our long career together. Nick and I were always searching for our next venture and like most people, both of us dreamed of someday owning our own business. In light of the prolonged economic crisis and changes our industry was going through, Nick and I saw our careers coming to an inevitable end. Nick was insistent that whatever venture he’d pursue it had to be something more recession resistant than financial sales. In 2005, when Nick went out on his own and created Smart Tax, I applauded him for taking this risk and building Smart Tax from scratch. Nick and I stayed in close contact and one day I happened to pass by his Smart Tax storefront and I knew this was real and growing. In 2010 I had realized that I needed to take control of my career and discussed an opportunity to join Smart Tax. Nick hired me as the company’s Vice President of Franchise Development, with the goal of building the brand. I wanted to help take Smart Tax to the next level and help Nick grow our franchise system. Now, not only will I be helping to grow the brand on the corporate side but I will also be a first-time business owner in the Smart Tax system as a multi-unit franchisee.

Q: Why is this brand the right fit for you?
A: I am very excited to finally be a business owner after being in Corporate America for so many years. I wanted to join a franchise business and after extensive research, I feel that Smart Tax has the prime territories that other brands cannot offer and a corporate culture that is unmatched. This is not the same Corporate America all over again, with unnecessary rules and regulations holding us back. We understand what Corporate America is all about and we feel there is plenty of room for change in our industry. Smart Tax is a ground floor opportunity, where I have the ability to play a large role in a growing business. Because Smart Tax is a newly launched franchise, we listen to our franchisees and encourage a culture where we openly share ideas and foster creativity. It is a convergence of ideas and a great business to be a part of. Our goals are to provide better service to our clients that seek our help at tax time and a better opportunity for our franchisees to grow. In a word, Smart Tax is dynamic, and that’s what attracted me most.

Q: How do you see the brand connecting with your local community?
A: Because I have spent my whole life in Queens, I understand the community I will be serving with my Smart Tax business. At Smart Tax, we care about our clients and I want to give back as much as possible. I realize that tax time can be very stressful and confusing for most people. I want to build strong relationships with my clients and ultimately provide them with a better experience during the tax season. I am very active with my local Fire Department as a volunteer Firefighter as well as a Cub Scout Den Leader. I understand the value of giving back to the community and will reach out to local organizations throughout my territories to help in any way I can. Additionally, I plan to support Toys for Tots this year and secure a drop box at my Smart Tax office to help support the organization for the holidays. We will also be giving away large golf umbrellas to every client we work with to show our appreciation.

Q: What are your future goals? Development plans?
A: My near term goal is to have my Queens Center Mall location as the top producing store for Smart Tax. I want to be able to show potential franchisees how successful this business model really is. This tax season I want to reach at least 500 returns. In the long term, I have the rights to develop three locations and I’d like to see all three open, thriving and ultimately having our brand recognized for excellence and step above service.

SmartTax featured in the Stamford Advocate

Smart Tax was featured in the Stamford Advocate discussing the brand’s aggressive expansion plans into the Connecticut market specifically focusing on Fairfield County. Smart Tax plans to develop five locations in Stamford and 15 throughout Fairfield County. Nick Rizzi discussed his entrepreneur story in founding Smart Tax after being blocked out of many of the established tax preparation franchises. Rizzi launched Smart Tax as a franchise in November 2009 and by tax season 2010, he had 10 locations already open and operating. Now, Smart Tax will have 29 offices open for tax season 2011 and plans to have 100 locations open for tax season 2012. The article delves into why Connecticut is an attractive market for the brand and the tremendous potential for growth.

SmartTax slated for Fairfield County
Michael C. Juliano, Staff Writer

SmartTax may soon be coming to a neighborhood near you.

Nick Rizzi, a financial planner from Brooklyn who since 2004 opened 10 SmartTax locations in New York City, plans to open another five outlets of his new tax preparation franchise in Stamford, and establish another 15 locations throughout Fairfield County in his goal to open 100 stores by 2012.

"I was sitting at my desk at a bank one day and a bus went by with a sign that said `Learn to do taxes,'" said Rizzi, who took it as cue to enroll in an H&R Block class on tax preparation. He learned the office where he was taking the class did 2,000 returns a year at $220 a pop. "I thought to myself that this sounds like a great business." (Read More)

Franchisee Profile: Matthew Jamel

Opening Date: January 3, 2010
Location: Brooklyn, NY

Q: Where are you originally from?
A: I was born and raised in Brooklyn.

Q: Before Franchising, what were you involved with?
A: Before partnering with Thomas Rock to open a Smart Tax location, I attended Brooklyn College and graduated in May of 2010 with a degree in Business Management. Upon graduating, I started working with Thomas to put together a business plan so we could open a Smart Tax location in Brooklyn for tax season 2011.

Q: How did you learn about the brand?
A: Thomas had both known and worked with Nick Rizzi, CEO of Smart Tax, at Redhook location for five years. When Smart Tax started franchising in 2009, we began discussing the possible business options and the details in how we could open a location after I graduated from college.

Q: How do you see the brand connecting with your local community?
A: Because I have spent my whole life in Brooklyn, I want to see our business connect with the local community 100 percent. Thomas and I grew up five blocks from each other, played sports in Brooklyn as kids and still do. We plan to take every opportunity we can to connect with the residents of Brooklyn, building relationships and creating a strong local aspect to our Smart Tax business. We want our customers to feel comfortable and realize we are hard-working locals just determined to make filing taxes less formal.

Q: What are your future goals? Development plans?
A: I would classify myself as a hard-working individual who is dedicated to my work. We are earning our entire year’s salary in less than four months, so we have set the bar extremely high for our first tax season. We’re planning to file 400-500 tax returns, well above average.

Smart Tax plans for growth featured in the Morning Call

The Morning Call recently published an article entitled, “Retail Watch Scanning the Storefronts,” where Smart Tax was with its expansion plans into the area. Nick Rizzi, CEO and Founder, was interviewed discussing the future growth plans for the area adding 10 locations and targets the first location for tax season 2012. The article notes the more than two dozen locations around New York, New Jersey and Philadelphia which will move in to be competitors of other full-service tax chains like H & R Block and Jackson Hewitt. Check out a portion of the article below or read the full story here.

Retail Watch Scanning the Storefronts

Smart Tax wants a piece of the action too. CEO Nick Rizzi said the chain, which started in New York in 2006, would like to have 10 locations in the Valley. Its first location could open sometime next year, but probably not before tax season.

The full-service tax chain has more than two dozen locations in New York, New Jersey and Philadelphia. It will be another competitor for the region's public accountants and chains like H&R Block and Jackson Hewitt Tax Service. (Read More)

Smart Tax Adapts to Economic Climate By Adding Kiosk Locations

While the current economic conditions have led to many financial obstacles for small business, franchise brands are still finding innovative ways to grow. One emerging trend is a move to smaller and portable spaces including kiosks, where Smart Tax, tax preparation concept is one step ahead of the competition and is entering big-box retailers for tax season 2011. Options like this allows franchisees the opportunity to open their own business for a much lower start up cost during the rough economic climate.

The kiosk model is one innovative method that allows franchise brands to expand in high traffic venues such as malls, shopping centers, the streets of major cities, and airports. One brand who is finding success with the kiosk model is Smart Tax, who launched in November 2009 with ten locations and will open almost 30 units for tax season 2011. One of Smart Tax’s growth strategies has been to open kiosks in National Wholesale Liquidators, where they will have 4 operating kiosk centers this year and six more open for 2012. This not only allows the brand to enter a high demand outlet but allows more consumers to become familiar with the product and ultimately build resonating brand awareness. Additionally, the franchisees opening the kiosks are able to capitalize on a smaller initial investment, portable space and a larger growth potential.

These kiosk locations will look almost exactly like a Smart Tax office, minus the physical building. Each location will be equipped with an educated staff and all of the programming needed to help make filing taxes more convenient for consumers. In addition, this gives big-box companies like National Wholesale Liquidators the opportunity to fill empty space after the holiday season utilizing a company that only has a four month window business during the spring, bringing another level of one-stop-shopping during tax season.

Franchisee Profile: Jorge Quintana, Owner of Smart Tax Queensbridge

Opening Date: January 3, 2010
Location: Queensbridge

Q: Where are you originally from?
A: I was born in Peru and moved to New York when I was four years old.

Q: Before Franchising, what were you involved with?
A: Before I partnered with Smart Tax, I served in the Marine Corps for four years and was released with an honorable discharge. Initially upon returning to New York, I started working with my two sisters in a family owned and operated business. After working with them for a short while, I was inspired to take the H&R Block class to start learning more about the tax preparation industry. With continued urging from my sisters to go back to school and further my education I decided to return to school to pursue my CPA license in addition to the class I was taking. Currently, I am still working on getting my degree in accounting, as well as working with Smart Tax to help the brand evolve. I am looking forward to opening my first location and I hope to one day open multiple locations of my own throughout the area.

Q: How did you learn about the brand?
A: I learned about the brand first hand from Nick Rizzi. About a year after meeting Nick in the H&R Block class, he called me and asked for some advice on getting a business up and running in the tax industry. After meeting Nick and looking at the business plans and DMA of the neighborhoods he was scouting out, I realized that Nick had a genius idea and agreed to help with opening the first location in Redhook in 2006. After seeing the successful business model that Nick Rizzi had created in the first few years and getting the franchising aspects up and running, I decided that I wanted to open a location of my own, realizing the growth potential of the brand.

Q: How do you see the brand connecting with your local community?
A: From day one, Smart Tax has tried to find every way possible to connect with the residents of each community we enter. In 2006, Nick said that he wanted to give something to every customer that came through the door… and we still strive to connect in that way with each customer. However, what we give back has evolved as we have established a name for ourselves. With my new location in Queens, I want to sponsor some of the little league baseball programs in the area and the youth rugby league, a non-profit organization that is helping to introduce rugby into the United States at the youth level.

Q: What are your future goals? Development plans?
A: The most immediate goal that I have set for myself is to have 1000 tax returns filed at my Queensbridge location during my second year in business. As for development plans, I plan on opening at least two more locations in Bay Ridge, which has a different clientele than the existing Smart Tax locations. I plan to connect strongly with the business community in the region, who I have already built strong relationships with over the years.

Smart Tax Featured in Accounting Today

Smart Tax was recently featured in a great article in Accounting Today entitled, “Tax Registration Regime Takes Shape.” The article delves into the recent laws the IRS has implemented and how this will affect the tax preparation industry as a whole. Some of these new regulations on the industry include continuing education, more testing, identification numbers and fees. Many industry experts discuss the pros and cons of the new laws and how to prepare for tax season 2011. Nick Rizzi offers his opinion on how the new regulations are actually a good thing for the industry as a whole and how Smart Tax is already prepared for the new changes. By continuing to adapt to the economy and new government regulations, Smart Tax is able to support the franchisees in its system and make a smoother transition for independent preparers looking to partner with an established franchise. See Nick Rizzi's comments on the new laws below and the article can be viewed in its entirety by clicking here.

Tax registration regime takes shape
The IRS moves rapidly to clarify the requirements, fees, CPE rules, and expectations
By Roger Russell

For Nick Rizzi, chief executive of tax preparation franchisor Smart Tax, the new process is a good thing. "In the areas in which we operate, you have one office that follows all the rules, and we try to be that guy," he said. "Then you have four or five people that do returns in the back of a travel agency or money transfer store. It's usually a 19-year-old girl with a laptop and a copy of some software. So we're all for the new rules because we've been following IRS standards all along."

(Read More)

New IRS Laws Spike Independent Conversions to Larger Systems

If you are in the tax preparation industry, there are many new laws implemented by the IRS this year, which will affect the way you do business. Starting mid-September, the IRS will be implementing stricter laws on tax preparers across the country which will include continuing education requirements on preparers, passing a series of tests to renew licenses through the IRS. These laws are being implemented to increase the qualification of preparers across the country. Included in these new laws is a mandatory registration for independent tax preparers where all paid tax preparers must register for a Preparer Tax Identification Number (PTIN) which is set to begin mid-month. This is one more law to further monitor the industry and increase the quality of service.

Resulting from the newly founded laws, a trend is emerging in the tax preparation field. Many independent preparers are converting to larger tax preparation firms, with systems already in place to help support new laws and initiatives. Independents recognize that larger, established systems will provide the services, bank relationships, and handle mandatory deadlines for the entire system to ensure that the business as a whole is prepared for these changes.

With 80% of Americans using a tax preparation service and with new, stricter IRS regulations, the tax industry as a whole will need to adapt and many small tax preparers unable to make these required changes will be eliminated in result.

With all of these new boundaries in place for tax season 2011, the tax preparation industry needs to be more organized than ever before. Smart Tax franchise has transitioned to prepare themselves for the upcoming tax season and welcomes independents into its system; offering preparers who file over 250 files per year a free conversion into a Smart Tax franchise.

For more questions, please refer to the IRS Laws online at: http://www.irs.gov/newsroom/article/0,,id=217781,00.html\

Smart Tax Featured in The Business Journal of the Greater Triad Area

Smart Tax franchise was recently featured in The Business Journal of the Greater Triad Area entitled, “Tax Preparation Company Targets Triad.” The article discusses Smart Tax’s interest in the North Carolina region, specifically Greensboro, and plans to develop up to 10 locations over the next few years. As Smart Tax continues to expand outside its home state of New York, it is gaining traction and attention in the markets it enters. Due to the affordability and growth potential, Smart Tax is a very viable and attractive business opportunity for entrepreneurs looking to get out of corporate America and enter a recession-resistant industry. Here is a link to the online version of the article and below you can read the story:

Tax preparation company targets Triad

New York-based Smart Tax, a tax preparation franchise company, said it is planning to add 10 new locations in Greensboro over the next two years.

The expansion is part of Smart Tax’s national growth strategy to build 100 locations by Jan. 1, 2012.

“We are looking to partner with a driven, business savvy entrepreneur to provide a much-needed service to a community in high demand of tax services,” said Nick Rizzi, CEO and founder of Smart Tax, in a statement.

(Read More)

Smart Tax Featured in Salt Lake Enterprise

Smart Tax was recently featured in the Salt Lake City Enterprise in an article entitled, “Tax Preparation Franchise Plans 10 Salt Lake Area Locations.” Nick Rizzi, CEO of Smart Tax, was interviewed for an article discussing the brand’s expansion plans into the region and the low start up cost and prime real estate opportunities that Smart Tax provides. Despite the economic climate, Smart Tax has experienced exponential growth and is not only expanding throughout the Northeast but also nationwide. As a brand, Smart Tax has adapted to the economic climate by offering a 2-part franchise fee, where franchisees can pay half the fee up front and the second after tax season. This method allows franchisees to join the Smart Tax family with lower start-up fees and focus on marketing their business to their local community. Click on the thumbnail below to read the article in its entirety.

Smart Tax Attending IRS Nationwide 2010 Tax Forum NYC

Smart Tax is attending the IRS Nationwide 2010 Tax Forum in New York City August 10-12. The event will be held at the New York Hilton and will for three days will focus on informative education sessions, training and networking, featuring a full agenda of the latest tax law information, hands-on workshops, networking opportunities and exhibits of the latest products and services for your business needs. The IRS Nationwide Tax Forum welcomes the participation of our association partners: the American Bar Association (ABA), the American Institute of Certified Public Accountants (AICPA), the National Association of Enrolled Agents (NAEA), the National Association of Tax Professionals (NATP), the National Society of Accountants (NSA), and the National Society of Tax Professionals (NSTP).

Some of the highlights of the forum include:

Exhibits – Visit dozens of exhibitors displaying a wide selection of products and services that support the IRS e-file Program and may help enhance your business operations. Exhibit hall hours: 11:15 am to 6:00 pm on Tuesday and 10:00 am to 2:00 pm on Wednesday.

Continuing Professional Education (CPE) Credits – Attendance at IRS Nationwide Tax Forum seminars qualifies for Continuing Professional Education (CPE) credits for enrolled agents, certified public accounts, and California Tax Education Council (CTEC) participants. You will need to understand and comply with your licensing agency’s CPE requirements. Attendance for the full 50 minutes of the presentation is required to receive one CPE credit.

Certified Financial Planner (CFP) Credits – The IRS is registered with the Certified Financial Planner Board of Standards, Inc. The board has the final authority on the acceptance of individual tax forum courses for continuing education credit for certified financial planners.

IRS Preparer Services Room

Case Resolution Program – Bring your toughest unresolved case (one per tax business) to the Case Resolution Room and meet one-on-one with IRS representatives by appointment only to discuss the case (POA required onsite). To expedite scheduling, bring a completed Nationwide Tax Forum Case Data Sheet with you.

Networking Opportunities – Enjoy great food and good company! Mix and mingle, reconnect with friends and colleagues, share information and best practices, or just relax and enjoy!

IRS Oversight Board – Visit with IRS Oversight Board representatives and offer your comments on various IRS initiatives and programs.

Electronic Federal Tax Payment System (EFTPS) – Visit the EFTPS Registration Booth and see how tax professionals can make their clients’ tax payments easier, while reducing their own paperwork.

Focus Groups – Your opinion counts! Participants are randomly selected to participate in focus groups and provide candid feedback on key topics. If you’re asked to take part in a focus group session, consider it as an excellent opportunity to let your voice be heard.

IRS Nationwide Tax Forums Online (NTFO)
The IRS Nationwide Tax Forums Online (NTFO) site is now open. The NTFO site provides courses based on taped seminars from previous IRS Nationwide Tax Forums. NTFO courses may be taken for either CPE credit or audit. To visit, go to http://www.irstaxforumsonline.com/.

Look for Smart Tax if you are attending and for additional information on the forum, please click here.

Economic Times Call for Innovative Measures; Smart Tax Offers Free Franchise to Existing Franchisees

To Adapt to Economy, Smart Tax Sparks Growth by Eliminating Franchise Fee for Current Franchisees

BROOKLYN, NY – While many businesses have slowed growth due to the rocky economic climate, Smart Tax franchise, a newly launched 10-unit tax preparation concept, is just starting to speed up. In an effort to adapt to the economic climate and spark growth within the Smart Tax system, Smart Tax has eliminated the franchise fee for existing franchisees signing a franchise agreement in 2010, allowing Smart Tax franchisees to continue developing the brand despite the economic climate and mature their franchise portfolios in multi-unit ownership.

“Despite being launched in the rocky economic climate, Smart Tax has continued to grow due to the dedication and passion of the franchisees in the Smart Tax system,” said Steve Beagelman, senior franchise advisor to Smart Tax and Founder of SMB Franchise Advisors, a franchise consultancy firm. “To reward its franchisees and strengthen its systems further, Smart Tax has decided to eliminate the franchise fee to spark growth with existing franchisees who have already found success in its system and desire multi-unit ownership.”

The current economy has been labeled one of the worst in centuries and the franchising industry as a whole has seen a decline in development. As a way to reduce barriers of entry and continue growing, Smart Tax CEO Nick Rizzi has eliminated the franchise fee for franchisees already involved in the system to allow these entrepreneurs to take advantage of the prime real estate market.

This program has allowed Smart Tax franchisees to bypass the financial crisis and continue building the brand throughout the U.S. More than 80 percent of the franchisees are taking advantage of this initiative, allowing Smart Tax to open up five new locations in Texas, New Jersey, and New York.

“I saw this as an opportunity to strengthen my franchise portfolio by adding a new location,” said Mike Leibowiz, Smart Tax’s first franchisee and owner of three Smart Tax locations in Staten Island and Bayonne, NJ. “From the moment I made the decision, Nick Rizzi and I have been scouting out new real estate and planning my expansion strategy to further build the brand in the area and increase the impact of localized marketing efforts.”

Brooklyn franchisee Yvonne Murray agrees. The franchise fee elimination together with the success of her Brooklyn franchise has inspired Murray to sign on for her second Smart Tax location in Brownsville, NY, which will open for tax season 2011. The financial liberty has also allowed her to focus on what she considers the most important aspect of running a good business: community involvement. She has funded summer programs and other charitable initiatives, and even been able to start a Smart Tax Little League organization.

“It’s all about community,” Murray says. “A thriving business has a responsibility to give back. Smart Tax understands this and has allowed me to do a lot of really great things for the neighborhood I love so much. It doesn’t get much better than this.”

Smart Tax Featured in New Mexico Business Weekly

Smart Tax was recently featured in an article in the New Mexico Business Weekly entitled, “IRS Aims to Squelch Tax Prep Incompetence.” The article was built from an in-depth interview with Nick Rizzi and delves into the trend emerging where the IRS is becoming stricter in enforcing rules and regulations on tax preparers and also discusses Smart Tax’s growth plans throughout New Mexico. A portion of the story is shared below, and you can view the full article here.

IRS aims to squelch tax prep incompetence
by Dennis Domrzalski

As the Internal Revenue Service prepares to crack down on tax preparers, some see it as an effort to drive small practitioners out of business.

But others, like Nick Rizzi, CEO of Smart Tax, see it as an opportunity. Rizzi’s franchise company says it plans to open 15 offices in the Albuquerque area by the 2012 tax season.

“Everybody needs to do taxes, and we have found it to be a good business to be in,” says Rizzi from his New York City office. “Albuquerque is a prime hub for expansion and development because the market is largely underserved."

With 80 percent of Americans using a tax preparation service and with new, stricter IRS regulations, the tax industry as a whole will need to adapt, and many small tax preparers in the Albuquerque market will be eliminated. (Read More)

Smart Tax Featured in New Haven Register

Smart Tax was recently featured in an article in the New Haven Register entitled, “Website, Tax Firm Eye Area for Expansion.” The article was built from an in-depth interview with Nick Rizzi and discusses Smart Tax’s expansion strategy throughout the region to open 15 locations over the next 2 years. The story delves into Nick Rizzi’s entrepreneur story and also provides a link to the website to point entrepreneurs in the right direction. A portion of the story is shared below, and you can the full article here.

Website, tax firm eye area for expansion
By Angela Carter

Owners of a new tax preparation franchise, and a website where companies sell excess inventory, are eyeing the New Haven area for expansion.

Nick Rizzi, chief executive officer of Smart Tax of Brooklyn, N.Y., said he is looking for franchisees to open 15 locations across New Haven, East Haven, North Haven, West Haven and Hamden by the 2012 tax season.

“There are pockets in those areas that are just screaming they need help,” he said. “I see a lot of potential here. If I had the wherewithal, I would do it myself.”

Rizzi initially approached other tax franchises, but none of them had territories available in areas he wanted. “I decided to go it alone,” the former financial planner said.

Franchisees and tax preparers working with them will need to be certified and take continuing education courses, under new rules being implemented by the Internal Revenue Service.

Smart Tax has 10 offices in New York, New Jersey and Texas; Rizzi also plans to expand into Pennsylvania.

The franchise fee is $20,000, half of which is due at closing, and the remainder would be due after a franchisee’s first tax season. For more information on becoming a franchisee, visit www.thesmartwaytofile.com.

To read the rest of the article from the New Haven Register, please click here.

Smart Tax recently featured in the NJBIZ

Tax preparation franchise aims for major N.J. expansion
By Beth Fitzgerald

Smart Tax, a New York-based tax preparation franchise with locations in Bayonne and Asbury Park, aims to have 20 New Jersey offices open by 2012, according to founder Nick Rizzi.

Rizzi, who worked as a financial planner for 16 years, launched Smart Tax in Brooklyn, N.Y., in 2005, began franchising in late 2009 and now has 10 locations in New York, New Jersey and Texas.

Smart Tax attracts franchisees who were downsized from the financial services industry, have worked as bookkeepers or financial planners, or are semiretired and want to work several months a year during tax season, Rizzi said.

“New Jersey is a great spot for this franchise, because everyone needs to get their taxes done, they need direction, and I hope we will help them do their taxes,” Rizzi said. (Read More)

Smart Tax Featured in Houston Business Journal

Smart Tax was recently featured in an article in the Houston Business Journal entitled, “IRS Rule Proposals Stimulate Smart Tax Preparations.” The article was built from a new phone interview with Nick Rizzi, CEO and Founder of Smart Tax combined with a previous phone interview done by the Casey Wooten with Nick Rizzi and Megan Savitsky, Smart Tax’s Houston franchisee. The interview delves into the expansion plans of Smart Tax in the Houston area, calling for more locations because of the recent IRS rule changes and lowered barriers of entry into franchising, which is providing a tremendous opportunity for mass development in the Houston market. Below is a sample of the article along with a link to the article in its entirety.

IRS rule proposals stimulate Smart Tax preparations
by Casey Wooten Reporter

After establishing a toehold in Houston last year, Smart Tax is counting on IRS rule changes to expand the tax preparation firm’s footprint.

New York-based Smart Tax set up shop with a franchise in the Northshore area in November 2009.

Nick Rizzi, founder and CEO, now plans to roll out as many as 50 area locations during the next five years.

“When I look at Houston I see a prime area for a franchise situation like ours,” says Rizzi.

(Read More)

Smart Tax Featured in South Florida Business Journal

Smart Tax was recently featured in an article in the South Florida Business Journal entitled “Franchises Hot on South Florida.” The article was built from an in depth interview with Nick Rizzi about the Smart Tax franchise and its plans for development in South Florida, specifically Miami and Ft. Lauderdale. The article also talks about the greatest perk of tax preparation: taking 8 months off! Below is a thumbnail to the article -- clicking on the thumbnail will take you to the article in its entirety.

(READ FULL ARTICLE HERE)

Smart Tax Featured in Entrepreneur Magazine

Smart Tax was recently featured in a great article in the May 2010 Issue of Entrepreneur Magazine entitled, “How to Negotiate a Lease.” Nick Rizzi is featured as an entrepreneur discussing ways to negotiate a lease and also to scout out real estate locations. Rizzi uses real life examples of how he selects retail space and judges to attractiveness of his locations. He also uses his own experience when he first opened his first Smart Tax location and his landlord was not liable for a leak in the ceiling, which is where he learned to carefully read the lease contracts. Below is a thumbnail of the cover of the issue, along with a link to the article in its entirety.

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Smart Tax Featured in Jewish Exponent

Smart Tax was recently featured in an article in the Jewish Exponent entitled, “Home is Where the … Tax Credit Is?” The article was built from an interview with Nick Rizzi and Steve Beagelman discussing the current state of the housing market in Philadelphia and how the new tax credit initiatives will affect the housing market. Steve and Nick were both used as expert sources on the topic. Below is a sample of the article along with a link to the article in its entirety.

Home Is Where the ... Tax Credit Is?
But that relief is ending, so what's a buyer to do now? Act fast!
By Elyse Glickman


... Even with some of these advantages, however, Denk and Dietz strongly encourage buyers to consult NAHB's paper on the tax benefits of home ownership (www.nahb.org) , consult organizations like the National Council of State Housing Agencies (www.ncsha.org/housing-help) , and look into other first-time buyer programs through state housing agencies.

"Being under duress in itself can be a pitfall," warns Nick Rizzi, CEO and founder of New York-based Smart Tax, a tax-preparation company that has offices in the Philadelphia region.

"Even with these great opportunities," he says, "when you buy a house, you need to realize you are going to be living there for a major part of your life. This is a decision you need to think through completely, even if time is running out."

Steve Beagelman, a Bucks County resident who heads SMB Franchise Advisors, recalls this kind of prudent thinking enabled him and his wife to make smarter choices when setting down permanent roots near Philadelphia.

"Based on what I observe is happening in the economy right now in my business, if people have the means and ability to buy a house, now is a great time to do it," he says.

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Smart Tax Featured in Business First of Columbus

Smart Tax was recently featured in an article found in the the Business First of Columbus entitled, “Tax-Prep Chain Eyeing Columbus for Growth.” The article discusses Smart Tax’s growth plans in the Columbus market and how Smart Tax is looking to partner up with franchisees in the region. Below is a sample of the article along with a link to where the full article can be found.

Tax-prep chain eyeing Columbus for growth

A burgeoning New York-based tax preparation franchise is looking to take a leap into the Midwest by way of the Columbus market.

Brooklyn-based Smart Tax said it is in talks with Columbus-area entrepreneurs this tax season with an eye toward opening 15 locations in the area over the next two years. Founder Nick Rizzi began franchising Smart Tax in November and has grown the franchise to nine locations in New York and New Jersey and one in Houston.

Smart Tax’s goal, the company said, is to have 100 locations by Jan. 1, 2012.

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Smart Tax Featured in Hartford Business Journal

Nick Rizzi, CEO of Smart Tax, was recently interviewed and featured in the Hartford Business Journal. The article highlights the plans of the Smart Tax franchise expansion into the Hartford area. The article also includes a great deal of information for potential franchisees, including the investment costs and contact information. A sample of the article is below along with a link to the article in its entirety.

New York Tax Prep Franchiser Eyes Hartford Market
By Becky Bergman

While many businesses are slowing down due to the rocky economic climate, Smart Tax, a tax preparation franchise concept founded in 2006 by financial whiz Nick Rizzi, is just starting to speed up.

And the Greater Hartford area is squarely in the crosshairs of its expansion strategy.

The Brooklyn, N.Y.-based tax preparation service grew to three locations before Rizzi decided to expand the business via franchising. That was in November. Seven franchises have been added since and CEO Rizzi, who still manages the original three sites, says Smart Tax is on pace to develop 100 locations nationwide by tax season 2012.

The entrepreneur is aggressively eyeing the Hartford market, where he wants to launch 20 new locations in the next two to three years.

Rizzi spent more than 16 years cutting his teeth in the industry working for H&R Block before he began to explore the idea of entrepreneurship.

“When I was looking at starting my own business several years ago, I wanted to do something that was recession-proof,” said Rizzi. “I also wanted to specialize in something that was solid. You can count on death and taxes no matter what kind of economy it is.”

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Smart Tax Featured in Financial Advisor

Smart Tax was recently featured in an article entitled "Recession Weary Advisors Branch Out" in the Financial Advisor. The article talks about the option to brokers looking for a new path in the financial sector and highlights the Smart Tax franchise. Nick Rizzi, CEO and Founder of Smart Tax, and Joesph Fontana, Vice President of Franchise Development, were quoted in the article. Below is an annotated version of the article with a link to the full article.

Recession Weary Advisors Branch Out
March 02, 2010

Financial advisors who want to be independent are becoming more open to the idea of branching out into areas that are recession proof, such as tax preparation, according to two advisors who have successfully taken that route.

“Financial advisors are shell shocked and are looking for other venues,” said Joseph Fontana, vice president of franchise development for Smart Tax, a tax preparation service founded in 2005 and headquartered in Brooklyn, N.Y. with offices in New Jersey and Texas. “I firmly believe that one new venue can be tax preparation. The feedback I am getting from other financial advisors to that idea is phenomenal.”

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Smart Tax Franchisee Featured in the Long Island Exchange

Recently, Smart Tax franchisee David Stein was featured in the Long Island Exchange with his partner Teresa Castano. The article focuses on the continued growth of Smart Tax, their local franchisees, and the future goals of the franchise. You can check out part of the article here with a full link to the article in its entirety below.

Local Entrepreneur Opens New Tax Preparation Service on Long Island

While many businesses are slowing down due to the rocky economic climate, Smart Tax franchise, a newly launched 10-unit tax preparation concept, is just starting to speed up. Smart Tax is a step above the competition by offering quicker returns, better services and is expanding rapidly, now opening their newest location in Baldwin at 1298 Grand Ave.

“I have always been on the franchisor side of the industry, and now I wanted to switch gears and Smart Tax was the perfect opportunity to offer a much-needed service to a community in high demand of tax services,” said David Stein, franchisee of the Baldwin location.

David Stein, a broker for branded franchise concepts such as Dunkin Donuts, Baskin Robbins, Taco Bell, KFC and Checkers Hamburgers, has now entered into a franchisee role, opening the Baldwin Smart Tax location. His partner, Teresa Castano, a native to Columbia and a 10- year financial industry expert in accounting, taxes and mortgages, will bring Baldwin a unique combination of Smart Tax services. Their Smart Tax location will also offer complimentary mortgage modification and services in both Spanish and English. The two have combined their skills in the franchise industry and financial industry to offer the best tax preparation and financial services to their community.

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Smart Tax Featured in Accounting Today

Smart Tax founder, Nick Rizzi, was recently interviewed along with other tax professionals in the industry about the upcoming tax season. The article discusses tax season trends and an outlook for the tax season 2010. Below is a portion of the article with a link to the article in its entirety.

2010 Tax Season Preview: Tax season like no other
By Roger Russell

More taxpayers will seek professional help to do their taxes this year, according to Nick Rizzi, founder and chief executive of tax prep franchiser Smart Tax. "With the changes in the credits and the stimulus plan, there will be many confused taxpayers," he said. "And there will be some do-it-yourselfers who want someone to take a look at the return because their refund is less than they expected."

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Smart Tax Featured in The Wall Street Journal, Small Business Section

Today, Smart Tax Franchise was featured in The Wall Street Journal, in an article discussing small business expansion throughout 2009 and into 2010. Despite the economic climate where many small businesses are experiencing slow development and a decline in customers, Smart Tax is experiencing rapid growth. In the article, I discuss certain methods for finding retail locations for lower costs and how I came across some of our Smart Tax locations. A portion of the article can be read below and you can find a link to the entire article below as well.

Location, Location and More Location
With vacancy rates up and rents down, it's a great time to grab extra space if you need it
By Raymund Flandez

For some small-business owners, the terrible economy holds an unexpected silver lining: It's a lot easier to get more space.

As hosts of businesses close their doors, vacancy rates are soaring and rents are plummeting. So, small companies that are still on their feet—and looking to expand—suddenly have lots of leverage with landlords. And they're making the most of the chance, snaring prime locations and larger spaces, often at a fraction of the regular asking price.

Crisis and Opportunity

In early December, for instance, Sindi Major-Martinez, president and chief executive of Sindel Technologies LLC, moved her IT-services firm to a new location in Phoenix. At the new building, she's paying $21 a square foot for 4,400 square feet—versus $23 per square foot for 3,000 square feet in her previous lease. It's an even better deal considering that the new location was valued at $29.50 a square foot recently, and the current rent also covers utilities and cleaners.

"It really emphasizes that there are good things out there, even though things are really bad," says Ms. Major-Martinez, who estimates she'll save about $60,000 in the first year.

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Franchisee Spotlight: Yvonne Murray, Owner of the Brooklyn Smart Tax Location

This week, for our franchisee spotlight, we would like to introduce you to Yvonne Murray, franchisee one of the Brooklyn locations of Smart Tax. Below is her story.

Local Entrepreneur Becomes Business Owner of Brooklyn Smart Tax; Step-Above Tax Preparation Services

BROOKLYN, NY – While many businesses are slowing down due to the rocky economic climate, Smart Tax franchise, a newly launched 10-unit tax preparation concept, is just starting to speed up. Smart Tax is a step above the competition by offering quicker returns, better services and is expanding rapidly, now opening their newest location in Brooklyn at 928 Myrtle Ave.

“I have heard Nick Rizzi talk about his dream of creating Smart Tax for years and I am so excited to be a franchisee in this fresh new concept,” said Yvonne Murray, franchisee of the Brooklyn location speaking about Smart Tax’s CEO.

Before Smart Tax was even an idea, Yvonne Murray worked closely with Nick Rizzi, founder and CEO of Smart Tax, at the New York Community Bank. It was there that Rizzi would tell Murray his ideas and aspirations about opening his own business. For 2-years Murray worked at one of Nick Rizzi’s Smart Tax location during the tax season, where she managed the location that she now owns herself. Now she has taken the next step as a Smart Tax franchisee and is fully committed to Smart Tax. She plans to develop two more locations within the next three to five years.

Yvonne is a dedicated and hard working business woman who still manages to raise three children, with her fourth due at the New Year. She has taught her 15 year-old daughter a lot about the business already, including how to use their system of filing taxes. Yvonne hopes to keep this business in the family and that one day her children can have a bigger role in Smart Tax.

CEO and Founder Nick Rizzi grew Smart Tax into four small successful locations, after launching his first location as a 29-year old entrepreneur using his life savings and a credit card. Rizzi created his concept a step above the competition by offering quicker returns and better services.

Despite the economic climate and people cutting back on spending, tax returns is one appointment people can look forward to every year—and people can get their taxes processed at Smart Tax in as quickly as an hour for a very low cost.

“I wanted to create a system one-step ahead of competition and provide a service that our customers valued in each community we enter,” said Rizzi, noting he plans to have 100 locations by January 1, 2012. “Yvonne Murray, who has been there for me since day one, is a great addition to the Smart Tax team. I know she will do amazing things to help strengthen and grow this franchise.”

Smart Tax's Harlem Franchisee, Kevin Jimenez, Featured in Harlem Business News

Smart Tax's Harlem franchisee, Kevin Jimenez, was recently featured in the Harlem Business News. The article delved into Jimenez's entrepreneur story and the new Smart Tax location will bring to the community. Below you will find a portion of the article as well as a link to read the complete story online.

Local Partnering Fuels Smart Tax Franchise's Growth

While many businesses are slowing down due to the rocky economic climate, Smart Tax franchise, a newly launched 10-unit tax preparation concept, is just starting to speed-up.

Smart Tax is a step above the competition by offering quicker returns, better services and is expanding rapidly, now opening its newest location in East Harlem at 1799 Lexington Avenue.

"I never thought about owning my own business until I discovered Smart Tax, with a low start up cost and a strong system in place, it is just such a great brand, I jumped at the opportunity to open one of my own locations," said Kevin Jimenez, first-time business owner and franchisee of the East Harlem location.

Jimenez, who is just 28-years old, was introduced to Smart Tax as an employee first, where he began working at one of Nick Rizzi's, CEO and founder, Smart Tax locations. He learned about the growing brand and how the tax preparation industry worked.

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Franchisee Spotlight: Megan Savitsky, owner of Houston Smart Tax Location

Each week, we will highlight some of our newest franchisees to celebrate them joining the Smart Tax team. This week we welcome Megan Savitsky, Smart Tax's youngest franchisee.

20-year old Entrepreneur Opens Smart Tax, Step-Above Tax Preparation Services in Houston

BROOKLYN, NY – While many businesses are slowing down due to the rocky economic climate, Smart Tax franchise, a newly launched 10-unit tax preparation concept, is just starting to speed up. Smart Tax is a step above the competition by offering quicker returns, better services and is expanding rapidly, now opening its newest location in Houston at 13423 Woodforest Blvd.

“I have always been interested in the tax field, as I have been doing my own taxes for the past two years. When I learned about Smart Tax, I knew it was an opportunity that I couldn’t pass-up,” said Megan Savitsky, 20-year old, first-time business owner and Smart Tax franchisee of the Houston location.

Megan was initially introduced to Smart Tax by her father, Richard, whose long-time friend is a multi-unit franchisee of Smart Tax. Megan had heard so many great things about the concept of Smart Tax and became very interested in the idea. Megan, who is just 20-years old and a full-time nursing student at San Jacinto College, has the future goal of developing Smart Tax throughout the Houston region and eventually throughout all of Texas.

“I am only 20 years old and I get to be my own boss and expand a fresh new concept to my community here in Houston,” said Savitsky, who was inspired by Nick Rizzi’s entrepreneur story and decided to jump on board as another young, passionate member of the Smart Tax team.

CEO and Founder Nick Rizzi grew Smart Tax into four small successful locations, after launching his first location as a 29-year old entrepreneur using his life savings and a credit card. Rizzi created his concept a step above the competition by offering quicker returns and better services.

Despite the economic climate and people cutting back on spending, tax returns is one appointment people can look forward to every year—and people can get their taxes processed at Smart Tax in as quickly as an hour for a very low cost.

“I wanted to create a system one-step ahead of competition and provide a service that our customers valued in each community we enter,” said Rizzi, noting he plans to have 100 locations by January 1, 2012. “As a young, driven entrepreneur, Megan Savitsky is a great addition to the Smart Tax team, one who will serve as a strong asset in growing our brand throughout the Houston region.”

Smart Tax Featured in Brooklyn Downtown Star and Greenpoint Star

Tax season has officially begun and we are excited here at Smart Tax to jump in head-first and start preparing our customers taxes. Smart Tax, which started out as an idea, has now taken the next step as a franchise concept and we are growing and preparing to launch the tax season with each of our communities. Smart Tax was also just featured in the Brooklyn Downtown Star and the Greenpoint Star about our growth in the region and how Smart Tax came to be what it is today. Below you will find a section of the article and a link to the full article on the website.


On The Record: Nick Rizzi, CEO/Founder of Smart Tax
by Holly Tsang

Nick Rizzi works himself to the bone for three or four months, and then for the remainder of the year, he’s pretty much free to come and go as he pleases. What does he do for a living? Why, he’s an accountant, of course.

He actually started out as a financial planner at a bank, but people were often asking him how certain decisions were going to affect their taxes, so he decided to take some basic tax preparation classes.

It turned out to be something he really liked, and Rizzi realized he could actually make a living doing it.

“Although it might seem boring doing a tax return, you see all the changes going on in your clients’ lives. You celebrate things like people buying a house or having a child,” he said.

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