Smart Tax featured on FOX Business

Smart Tax’s CEO and Founder, Nick Rizzi, was interviewed live on FOX Business’ small business segment entitled "Profiting from Taxes.” The segment discussed the growth of the tax preparation industry despite the economic climate and the aggressive growth that Smart Tax has experienced since launching as a franchise less than a year and a half ago. After reaching 27 locations this year, Smart Tax plans to have over 60 franchised locations open for tax season 2012. Rizzi discussed the recession resistant nature of taxes as it is a service that is needed every year. Additionally, he discussed the profitability that Smart Tax offers for its franchisees as consumers are continuously seeking this high-demand service. He also provided some last minute tax tips for consumers to be aware of when filing this season. Click here to view the segment!

Smart Tax featured in the Red Hook Star-Revue

Recently, Smart Tax was featured in the Red Hook Star-Revue in an article entitled, “It’s Not Too Early to Start Working on Your Taxes.” As we are in the midst of tax season, Nick Rizzi, CEO and Founder of Smart Tax provides tips for getting one's taxes done this year and also discusses the growth that Smart Tax has experienced since first opening. After launching as a franchise in 2009 with 10 locations, the brand now has 27 offices throughout the Northeast. Rizzi discusses that while many people can do their taxes on their own, it can be very beneficial to having someone prepare them for you, as many credits can be easily overlooked and preparers such as at Smart Tax are trained to find these credits and make sure that you receive the most money back possible. Additionally, the deadline for filing taxes this year has been extended to April 18th and Rizzi also advices to keep strong records yearlong to ensure the most tax credits.

Smart Tax Featured in Red Hook Star-Revue

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.

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Smart Tax Was Recently Featured in The Wall Street Journal; End-of-Year Tax Advice

Smart Tax franchise is a newly launched, 10-unit, New York-based tax preparation franchise. As the end of the year is approaching people are looking to take advantage of the different government programs created in order to help people in the current economic climate. Smart Tax was recently featured in the Wall Street Journal on this exact topic and what tax credits people should look out for when filing end of year taxes. Below you will find a portion of the article and a link to the full article on wsj.com:

Federal Recession Aid -- Get It While You Can

By Anna Prior

Time is running out to take advantage of some of the government programs set up to help consumers during the economic meltdown.

Among them are programs meant to shore up the credit markets, which allow for more available credit and lower interest rates on loans for homes and automobiles, as well as tax benefits to entice consumers to buy that new house or car.

Of course, there's always the chance that these programs could be extended; some already are running on extensions and expansions. But here's how they stand for now, how much time you have left to take advantage of them -- and how their end could affect you.

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