\
  The most prestigious law school admissions discussion board in the world.
BackRefresh Options Favorite

Why is there always tax preparer offices in the ghetto next to pawn and liquor s

Store. Never fails. It will be on the same strip as the CASH...
KEBAB REMOVER
  01/14/20
It's to get a "refund" on the taxes they had to pa...
Sickly argumentative UES Jew in puffy jacket
  01/14/20
What do you mean “why”?
Aren't you a middle-aged man?
  01/14/20
What taxes do they pay
KEBAB REMOVER
  01/14/20
Payroll withholdings. If you are poor and have a w-2 job yo...
Aren't you a middle-aged man?
  01/14/20
They give out refunds that amount to short term loans at 75%...
clacking across a linoleum floor
  01/14/20
...
Metal Up Your Ass
  01/14/20
...
The Mandarin Pneumonia Apocalypse
  01/14/20
This is CSLGs brotherd biz btw
boiroast tp
  01/14/20
It's a guaranteed money maker. Should be illegal.
clacking across a linoleum floor
  01/14/20
I thought he was in "tax resolution" which is an e...
leolenin
  01/14/20
180. No accounting skills necessary
boiroast tp
  01/14/20
These places grind out a couple thousand returns, many or mo...
fiasco
  01/14/20
Obviously, these entrepreneurs structure their business with...
~~~~~~~-.-~~~~~~
  01/14/20
It's because their business model is not based on filing you...
'"'"'"''"
  01/14/20
it's true i did this gig out of college would make $13-$15/h...
White Power HVAC, Inc.
  01/14/20
How profitable are these businesses
;;;..;....;......,,,
  01/14/20
very
White Power HVAC, Inc.
  01/14/20
Let's do the math, brother. Month-to-month rent for four ...
'"'"'"''"
  01/14/20
And then what happens for the rest of the year?
;;;..;....;......,,,
  01/14/20
Poast and relax.
'"'"'"''"
  01/14/20
...
potluck
  01/14/20
Collection rates?
;.;.;.;....;;;;;...;;;;;.;.;.;;;..;;.;;
  01/14/20
You shouldn't do month to month, just rent a bigger place an...
~~~~~~~-.-~~~~~~
  01/14/20
Holy shit 180. I'm in the wrong business
.;:..;:.;.:.;.,,,..,.:,.;....;,;;;..;,..,
  01/14/20


Poast new message in this thread



Reply Favorite

Date: January 14th, 2020 12:03 PM
Author: KEBAB REMOVER

Store. Never fails. It will be on the same strip as the CASH for gold stores and liquor store. Also always with a sign “cash NOW! “ or someone in a Statue of Liberty outfit with a sign flying

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429198)



Reply Favorite

Date: January 14th, 2020 12:24 PM
Author: Sickly argumentative UES Jew in puffy jacket

It's to get a "refund" on the taxes they had to pay for their WIC/Section 8/etc.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429345)



Reply Favorite

Date: January 14th, 2020 12:25 PM
Author: Aren't you a middle-aged man?

What do you mean “why”?

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429354)



Reply Favorite

Date: January 14th, 2020 12:27 PM
Author: KEBAB REMOVER

What taxes do they pay

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429367)



Reply Favorite

Date: January 14th, 2020 12:35 PM
Author: Aren't you a middle-aged man?

Payroll withholdings. If you are poor and have a w-2 job you get a refund. And you might be willing to take 80 percent of that refund in cash in January rather than wait until February.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429407)



Reply Favorite

Date: January 14th, 2020 12:26 PM
Author: clacking across a linoleum floor

They give out refunds that amount to short term loans at 75% interest

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429361)



Reply Favorite

Date: January 14th, 2020 12:41 PM
Author: Metal Up Your Ass



(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429430)



Reply Favorite

Date: January 14th, 2020 12:55 PM
Author: The Mandarin Pneumonia Apocalypse



(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429480)



Reply Favorite

Date: January 14th, 2020 12:59 PM
Author: boiroast tp

This is CSLGs brotherd biz btw

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429499)



Reply Favorite

Date: January 14th, 2020 1:08 PM
Author: clacking across a linoleum floor

It's a guaranteed money maker.

Should be illegal.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429536)



Reply Favorite

Date: January 14th, 2020 1:26 PM
Author: leolenin

I thought he was in "tax resolution" which is an even bigger scam

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429637)



Reply Favorite

Date: January 14th, 2020 1:42 PM
Author: boiroast tp

180.

No accounting skills necessary

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429719)



Reply Favorite

Date: January 14th, 2020 1:14 PM
Author: fiasco (Hayden van Persie tp)

These places grind out a couple thousand returns, many or most of which contain fabricated schedule c "self-employment" income in cash heavy businesses. Amazingly, every hair dresser and day laborer who comes in makes exactly as much gross income as whatever the max for the earned income tax Credit is. They then add every possible Dependent and generate refunds in the many thousands of dollars for the "taxpayer."

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429582)



Reply Favorite

Date: January 14th, 2020 1:23 PM
Author: ~~~~~~~-.-~~~~~~ ( )

Obviously, these entrepreneurs structure their business with the tax implications in mind and quit working for the year once they hit the cap.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429629)



Reply Favorite

Date: January 14th, 2020 1:30 PM
Author: '"'"'"''"

It's because their business model is not based on filing your taxes. Sure, they do that. Some will even do it for free as an incentive.

It's all low income people with very simple 1040EZ returns. Probably takes 30 minutes on average to complete each one.

The catch is that most low income people get a refund and the tax filing place issues it to them ON THE SPOT as essentially a high interest payday loan.

These people absolutely CANNOT resist taking a $1,000 check today in exchange for signing over their $1,400 return to the preparer.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429651)



Reply Favorite

Date: January 14th, 2020 1:32 PM
Author: White Power HVAC, Inc.

it's true i did this gig out of college would make $13-$15/hr working up EIC forms for $270/piece

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429666)



Reply Favorite

Date: January 14th, 2020 1:32 PM
Author: ;;;..;....;......,,,

How profitable are these businesses

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429667)



Reply Favorite

Date: January 14th, 2020 1:33 PM
Author: White Power HVAC, Inc.

very

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429672)



Reply Favorite

Date: January 14th, 2020 1:42 PM
Author: '"'"'"''"

Let's do the math, brother.

Month-to-month rent for four months (Jan-April) in a strip mall in a ghetto shopping center (the more ghetto, the better for this type of business): $4,000.

Two tax prep filers @ $15/hr full-time for 14 weeks: $20,000 after payroll taxes.

Salvation Army furniture and some shitty computers: $1,500

Marketing: $5,000

Total costs: $31,000 (rounded up for misc costs).

Now let's say you average $300 on each return and process on average six per day, six days per week, for 14 weeks: $151,200

$151,200 - $31,000 = $120,200 in profit for 14 weeks of work. Six per day seems low, too. I bet you could do more.



(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429716)



Reply Favorite

Date: January 14th, 2020 1:46 PM
Author: ;;;..;....;......,,,

And then what happens for the rest of the year?

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429733)



Reply Favorite

Date: January 14th, 2020 1:49 PM
Author: '"'"'"''"

Poast and relax.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429753)



Reply Favorite

Date: January 14th, 2020 1:53 PM
Author: potluck



(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429776)



Reply Favorite

Date: January 14th, 2020 2:45 PM
Author: ;.;.;.;....;;;;;...;;;;;.;.;.;;;..;;.;;


Collection rates?

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39430026)



Reply Favorite

Date: January 14th, 2020 3:57 PM
Author: ~~~~~~~-.-~~~~~~ ( )

You shouldn't do month to month, just rent a bigger place and also be a pawn shop. Pawn shops are a year round business and you can issue refunds in the form of store credit.

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39430342)



Reply Favorite

Date: January 14th, 2020 1:34 PM
Author: .;:..;:.;.:.;.,,,..,.:,.;....;,;;;..;,..,


Holy shit 180. I'm in the wrong business

(http://www.autoadmit.com/thread.php?thread_id=4421706&forum_id=2#39429676)