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A former financial planner, Nick Rizzi started Smart Tax in 2006 with one location in Brooklyn. He franchised the tax preparation concept a couple of years later, and now Smart Tax stores can also be found in Baldwin, West Hempstead, Staten Island, Manhattan, New Jersey and South Carolina, among other locales. With 21 stores to date, Rizzi said he plans to add six more franchised locations on Long Island by the end of the year.
Why did you get involved with the Smart Tax franchise? Smart Tax is nothing I grew up wanting to do. I wanted to be a fireman, but that didn't work out. I was a financial planner for 15 years and literally a bus drove by with a sign that said 'Learn how to do income taxes' and I decided that would be a good idea. So I took the class and during the class I realized, gee, this is a pretty good business. I did the math and it was a pretty good number. If you've ever been in one of these tax franchises like H&R Block, you'll see six desks, a couple of printers and a handful of people walking around. I figured out that there'd be a lot of money left over and...