NTS Campus by Noble Tax Services

FAQs

Testimonials

Frequently Asked Questions

Our goal is to provide you with all the info you need to make an informed decision about starting your tax preparation business. See, below, some of the most common questions we receive and the answers to each.

Who is Noble Tax Service, LLC?

Noble Tax Service, LLC was established by Lee Olson and Phil Weaver who have over 45 years of total experience in both the CONSUMER FINANCE and TAX PREPARATION businesses. We own and operate loan offices in multiple states and have been offering Tax Preparation Services to our customers for many years. As small business owners, we understand the importance of increasing revenue and have realized, that by offering a tax preparation service to our existing customers, we can increase our annual revenue by as much as 50%. This is why we created Noble Tax Service!

Our vision for Noble Tax Service is simple! We want to offer a high quality tax preparation product to better serve the needs of our existing customers and to partner with other small business owners to provide them an opportunity to increase revenue during a time of the year when revenue is usually slow. We want to let our experience go to work for you! With over 45 years experience in the consumer finance industry, we have personally held every position from CSR to owner.

We know what motivates employees to sell the tax preparation service and what it takes to attract tax customers. We understand how to use your existing customer base to increase revenue by as much as 50%. We understand how to use the tax preparation business to increase your existing customer base and grow your core business. We realize the importance of keeping the focus on your core business and will show you how to do just that while using the tax preparation business to increase your overall profit. Let us show you how to increase your annual revenue by $10,000, $25,000, $50,000 or more!

What are the benefits of offering Tax Preparation?

Increases Revenue

Historically the 1st quarter of each year is the slowest period of the year for finance companies and many other small businesses. Tax preparation provides you the ability to increase revenue during the 1st quarter by as much as $50,000 or more per store location.

Increases Employee Loyalty

By offering a bonus program based on tax preparation production, employees will earn more during the off-peak season. Overall production increases as their personal ability to earn increases. Obviously, the more employees earn the more loyal they become to the company.

Increases Ability To Collect

You will print each tax customer's check in your office. Arrangements can be made to collect past due accounts or even recover charged-off accounts.

Increases Core Business

You will create new customer office traffic providing you the opportunity to gain accounts in your core business.

Increases Customer Loyalty

Customers appreciate the ability to “one stop shop". The more quality services you offer the more loyal your customers will become.

Increases Company Value

The value of your company will increase as your tax preparation business becomes more productive.

What will Noble Tax do to ensure my success?

  • We will provide each of your locations with Discounted to FREE award winning software.
  • We will provide training with your staff at your convenience.
  • We will provide marketing ideas and materials.
  • We will assist you in getting organized and prepared for the tax season so that your core business does not suffer.
  • We will setup EFIN numbers with the IRS for each of your locations.
  • We will setup and maintain a relationship with the Bank in which all the tax returns for your locations are processed.
  • We will provide phone, email, and internet support for all technical and customer service related issues.
  • We will manage the entire process from start to finish to ensure a successful partnership between Noble Tax Service and your location.

How will I prepare to ensure a successful tax season?

  • You will need to immediately begin marketing and selling to your existing customers that you NOW offer tax services.
  • Intensify marketing October, November, and December.
  • Motivate staff to sell the tax business.
  • Display banners and pass out flyers.
  • Generate referral business by word of mouth.
  • Get organized.
  • Allow Noble Tax Service to train your staff to prepare tax returns and sell the tax business to your customers.
  • Have a great attitude and be positive!

How is Revenue Generated and Shared?

  • Revenue is generated from the preparation and electronic filing of tax returns. A preparation fee will be charged for each completed tax return and each fee will be split between your location and Noble Tax Service. Tax customers are not required to pay anything up front. In most all cases, the tax fee is withheld from the refund and not deducted until the check prints. The only exception is for those customers who do not meet the qualifications to have their check printed in your office. In these rare instances, you would prepare a paper return and collect the fee upfront.
  • Revenue is shared by splitting (based on contract) the tax preparation fee between your location and Noble Tax Service. The tax preparation fee is set by Noble Tax Service and will be competitive with other tax preparers in your market.
  • Additional revenue can be generated by charging Add-on Fees. Add-on fees are in addition to the preset preparation fee. In order to keep fees competitive we recommend that you keep your Add-on Fees under $100.
  • Revenue reports will be made available to your location and Noble Tax Service. These reports will detail your stores production and will be used to calculate your commission.  Noble Tax Service will pay commissions to your location either by check or by bank wire. These commissions will be paid at least twice monthly.

How much revenue can I expect to earn?

The amount of revenue you earn will be based on several factors:

  • The amount of time and effort your employees market the tax business.
  • Your employee's initiative and motivation.
  • Ensuring that customers recognize that you are a "Tax Office" in addition to  your core business.
  • Retention of tax customers from year to year.

Income Expectations:

Your location should generate the following income based on completing the number of returns outlined below. (Figures are approximate and are based on average prep fees with a $50 add-on fee):

  • 25 to 50 returns = $3,400 to $9,000
  • 50 to 100 returns = $6,800 to $18,100
  • 100 to 200 returns = $13,700 to $36,200
  • 200 to 300 returns = $27,500 to $54,300
  • 300 to 500 returns = $41,200 to $90,600

Expected Production:

Listed below is the number of tax returns we feel a store location should complete each tax season. These numbers are based on the number of years tax service has been offered and from actual store locations we have managed, supervised, or owned.

  • 1st year - 50 to 100 tax returns
  • 2nd year - 100 to 200 tax returns
  • 3rd year - 200 to 300+ tax returns

It has been our experience that offices that have been preparing tax returns for four or more years will complete 300 to 500 tax returns. It's not uncommon for locations in our smallest markets to meet and even exceed these expectations.

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View the Many Benefits

Increases Revenue, Employee Loyalty, Ability To Collect, Core Business, Customer Loyalty, and Company Value.

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Frequently Asked Questions

Our goal is to provide you with all the info you need to make an informed decision about starting your tax preparation business.

NTS partners with small businesses to offer Professional Tax Preparation Services!

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