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The tax business can be profitable. Thats certainly one reason local attorney Ron Pinckney got into it.
But companies such as H & R Block, Ernst and Young and countless certified public accountants, also help thousands of people gain control of their finances. Pinckney, 53, said thats the larger reason he bought all six of the H & R Block franchises in Kitsap County; two in Bremerton, two in Silverdale, one in Port Orchard and one in Poulsbo.
Im also a lawyer and Ive practiced law for 25 years, said Pinckney, who made the purchase in 1999. I went into because it was something different. Unlike the law its more like teaching. And you get a break at the end of the season.
That season, he characterizes as hard driving, seven days a week, 12-hour days to keep up. That can include informing people about things such as the earned income tax credit.
People often dont realize the law sometimes, he said. A lot of people look to us a financial advisors. The idea is that nobody wants to pay any more taxes than we need to
and it surprised me to see how many people get good-sized refunds.
The company is built for speed, a plus, Pinckney believes, over computer programs.
Despite the advent of software such as Turbo Tax and others, the number of people who are coming to a tax consultant increases every year.
We know the business, he said. If you bring in the paperwork we can get it done in an hour. It can be all day if you do it yourself.
Instead of taxes being an unpleasant experience we want to make it a pleasant experience even if its bad news and they have to pay.
Since his 1999 purchase of the franchises from Ann Ruttle, Pinckney had worked to upgrade computers its a very computer-driven business and remodel the Port Orchard office. Later this year or early next year, he wants to open a second Port Orchard location. Were swamped there, he said.
Especially now. He has 90 employees, but after April 15, the number drops precipitously. Though hes recognized theres an early-filers spurt and a late-filers resurgence, Pinckney hopes to be able to broaden out into mortgage and financial consultant services soon. That would offset the up-and-down roller coaster ride of the workload. |