North Fulton Business Radio, Episode 625)
On this episode of North Fulton Business Radio, Richard MacKelfresh, Founder and CEO of Shoebox Tax Prep, joined host John Ray to discuss the work of Shoebox Tax Prep, the origins of the company name, why he decided to start the company, advice for people who may not have filed their taxes yet, and much more.
North Fulton Business Radio is broadcast from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta.
With more than 20 years of experience in financial planning, Shoebox Tax Prep has helped countless individuals, couples, and businesses get their taxes in order. They know if you come to them, taxes are the last thing you want to be doing — so they go out of their way to make the entire process simple and painless. Just stop by our office, hand us a box of your tax documents and files, and we’ll take care of the rest.
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Fresh out of the University of North Carolina, Richard began his career with Ameriprise Financial Services in May of 1999. In 2004, he received his Certified Financial Planner designation and grew a successful financial planning practice in Sandy Springs serving high-net-worth individuals and families, which he is still involved with today.
As a financial planner, he founded Shoebox Tax Prep with the idea of bringing professional tax advice to the mass market at an affordable price with the simplest process possible.
Interestingly, the concept for Shoebox Tax Prep was a direct result of a conversation with a financial planning client who complained about overpaying her tax preparer. She said that by the time she gathered all the paperwork and completed the myriad of forms and questionnaires, she felt like she could have done the whole thing herself for a lot less money.
After 5 years, Shoebox Tax Prep has grown from a staff of 1 to a full-time staff of 4. Over the next 5-10 years, Shoebox plans to have offices in most major cities throughout the Southeast.
Outside of work, Richard lives in Buckhead with his wife and 3 children. He is on the Board of Directors at Caring Works, and volunteers with the Sandy Springs Conservancy. He loves to play guitar and sings in a rock and roll band.
Questions and Topics
- How did you come up with the name Shoebox Tax Prep?
- Why did you start this company?
- In this digital age, are there still people who stuff their tax documents in a shoebox? What about those who prefer the digital option?
- Who would you say are your ideal customers?
- You can’t turn on the TV without seeing an ad for tax prep software or companies. What made you choose to start a company in this industry?
- What separates you from the completion of CPA and big box storefronts?
- So many people are preparing taxes themselves, is that a good idea?
- What advice or tax tips might you have for someone who is self-employed?
- It is the heart of tax season, what advice do you have for those who have not filed yet? What type of turn-around time can they expect? When should people consider filing extensions?
- You’ve been in the business for five years in Atlanta, where do you see Shoebox in the next five years?
- What is an EOS company and how does it help you run things?
- How is the culture at Shoebox and how does your staff handle the stress of tax season?
- For those that still need to file taxes, how can they reach you?
North Fulton Business Radio is hosted by John Ray and broadcast and produced from the North Fulton studio of Business RadioX® inside Renasant Bank in Alpharetta. You can find the full archive of shows by following this link. The show is available on all the major podcast apps, including Apple Podcasts, Spotify, Google, Amazon, iHeart Radio, Stitcher, TuneIn, and others.
Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management, and financial services offices in Mississippi, Alabama, Tennessee, Georgia, and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.
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