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Rent-to-Own Dealers Capitalize on Fast Tax Refunds
11-12-08
RTO Online - The rent to own industry's trade website
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What's great about our system is that Liquid Tax prepares the return in Atlanta and the dealer prints the check from any location in the country.
Cammy Loftin, President, Liquid Tax

(L-R) Liquid Tax Director of Business Development Luz Pulgarin, Founder Ron Loftin, President Cammy Loftin.
(L-R) Liquid Tax Director of Business Development Luz Pulgarin, Founder Ron Loftin, President Cammy Loftin.

As 2008 winds to a close, it's important to plan for the 2008 Tax Season right now. With the typical rent-to-own store serving close to 400 customers, consider the incremental revenue opportunity if half select to file their tax returns through you. With a partner like Liquid Tax, those 200 customers could amount to up to $20,000 in commissions, per store. And that doesn't account for the additional revenue generated when those customers choose to spend a portion of their refund in your location.

Liquid Tax offers tax preparation services that are as flexible as their name suggests. With the company's exclusive Remote Check Print Software, dealers simply fax 5 to 6 pages of the client's information to Liquid Tax's toll-free number and Liquid Tax's professionals will prepare the return and transmit it to the IRS. Then, the dealer can print the refund check on site in their store the next day and collect a commission from Liquid Tax of up to $100 per return.

"What's great about our system is that Liquid Tax prepares the return in Atlanta and the dealer prints the check from any location in the country," says Liquid Tax President Cammy Loftin. "We'll e-mail a PDF file of the client's 1040 directly to the RTO store, allowing them to provide the same basic tax prep services as H&R Block, Jackson Hewitt, and Liberty Tax."

Liquid Tax Founder Ron Loftin adds, "This entire process is quick and easy for the rental industry. Liquid Tax dealers aren't required to have any tax knowledge and they assume no liability. And the entire process only takes about 15-20 minutes."

The Loftins are no strangers to serving the credit constrained customer base. The two have spent more than 12 years as owners of United Distributors, an aggregate prepaid wireless distributor providing simple, affordable, high quality prepaid wireless telephone services in communities and markets that have been historically under-served. Their existing dealer network numbers more than 3,000 locations, including RTO stores, pawn shops, check cashers, convenience stores, used car lots, prepaid cell phone stores, supermarkets, staffing firms, and a state chartered bank in Georgia with assets just shy of $500 million.

Liquid Tax currently has a presence in 8 states. "We are rapidly growing," Ron Loftin says, "and will have dealers in 17 or 18 states by January 2009. With Liquid Tax's remote check print software, our products and services offer a convenience to customers and an opportunity for dealers to increase revenue without increasing their overhead."

Adds Cammy Loftin, "Dealers can be in the tax business for themselves, but not by themselves."

Dealers agree the Liquid Tax program is effective.

"The check print interface is extremely easy to use and happens very quickly," says Lavelle Tucker, owner of First Choice Wireless in Wisconsin. "We have been using Liquid Tax's Refund Check print software with excellent results, and I don't have to worry about preparing the taxes from my location, because that's all handled in Atlanta by Cammy and her group at Liquid Tax. The Liquid Tax check print program has been very beneficial, and I also appreciate the ability to provide tax prep services to my customers who otherwise would have their taxes prepared somewhere else."

Adrian Cutler, owner of Adrian's Pawn in Oklahoma City, Oklahoma, evaluated ease and user friendliness of the interface. He says, "The Liquid Tax remote check print software gives us what's most important: the ability to generate extra revenues off existing customers with no headache." He adds, "I must admit, I wasn't expecting the product to be this easy to use. It couldn't be simpler: install, set your printer, and start printing refund checks in less than a minute."

Liquid Tax's program provides the following features:

- Individual Tax Prep on-site Refund Check printing Software
- Check Stock needed to print checks
- Electronic Filing
- All State and Local filings
- Bank Product Processing
- Marketing Materials
- Software Training
- Toll Free Support in English and Spanish
- Data Conversions
- PDF Format File transfer
- Back up of e-filed client data

About Liquid Tax
Liquid Tax pioneered the technology credited with helping reduce the high fees traditionally associated with tax preparation and fast tax refunds while at the same time helping retailers create additional revenues. Liquid Tax is continuously working to develop ideas and new technologies that will help retailers discover innovative ways to enhance their revenue capabilities by providing additional services their customers need. For more information, visit www.liquid-tax.com or contact Sales at Liquid Tax toll free at 1-888-541-4443.

RTO Online is the official channel for Rent-to-Own Industry News and the only independent source of news for the rent-to-own, rental-purchase, lease-purchase trade. RTO Online (Rent to Own Online) represents the choice of the entire RTO Industry for trusted information, as it happens.

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