Smart Tax, a 28-unit tax preparation chain, has acquired the 15-unit chain, Eagle Tax Services.
The Brooklyn, N.Y.-based company bought Eagle Tax to increase its footprint and growth potential.
Eagle Tax, a tax preparation franchise, was established in Philadelphia. It plans to roll its office locations into Smart Tax just in time for tax season.
In addition to expanding its footprint, Smart Tax intends to increase its client base, develop a broader marketing plan and provide more extensive support. Eagle Tax will give Smart Tax the ability to also offer tax preparation kiosks in addition to traditional office locations.
Smart Tax said it continues to seek new tax professionals to join its system, and is devoting more financial resources to attract independent tax preparers. Smart Tax is offering tax preparers, CPAs and enrolled agents free conversion into a Smart Tax franchise, eliminating the franchise fee required by most tax prep chains. Smart Tax is also giving eligible preparers who have completed more than 500 returns a $20,000 loan to open a second location. However, to become a franchisee, the "total investment fee," according to Smart Tax, starts at $36,000.
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