A prominent, paraphrased quote often attributed to Benjamin Franklin is “in this world, nothing is certain except death and taxes.” It is hard to imagine anything more permanent. To this end, it is said morticians have job security. But what of tax preparers? When tax time rolls around, many of us need help beyond what a desktop software or an online site can provide.
Dwight Dye with Liberty Tax is one of those professionals who can help. His parents were tax preparers, but he never had any intention of following in their footsteps. He earned a college degree, but after graduation still did not have a job lined up. So, he moved back in with his parents. After a week of lying on the sofa, Dwight was informed by his father that he would have to work at the office to earn his keep. Dads are funny that way.
But work he did. In fact, Dwight took a liking to the family business. He answered phones, received packages from clients and even prepared the easier returns. He also enjoyed the fact the business cycle was primarily four months out of the year, giving him time to invest in other endeavors the rest of the year. But he thought the tax industry, a segment of personal finance, could be so much more, and saw several good applications for that extra time.
Several years ago, Dye did leave the family business when his wife accepted a professorship with MTSU. He took a corporate job as an insurance adjuster, but his mind was still on advising people with their finances. Then one day, completely out of the blue, Dwight received a call from Liberty Tax asking if he would be interested in a franchise. There was no previous connection to his days with his parents’ office or a previous conversation at a networking luncheon, just a call from out of nowhere. Nothing was certain, but it did lead to a fruitful meeting with the company’s expansion team. He counts that call as divine providence as he made a decision that allowed him to become an entrepreneur.
Eight years ago, Dye purchased an existing Liberty Tax franchise on Nolensville Road in Nashville. But he saw a real growth opportunity with Liberty beyond the one location. Three years ago, the Smyrna office became available and in July 2021 he purchased the Murfreesboro location as well. With three locations, his company was growing wide, but he knew even more could be done than just the old four-month tax model.
Dye always looks for ways to expand his business and the services he can provide. At the first of the year, the three offices began offering life, health, home and auto insurance through major national carriers. Since then, he has added services for small businesses to include bookkeeping and payroll. But his vision doesn’t stop there. More opportunities to help his clientele in ways of financial services are on the horizon.
Nothing in business is certain, but for those with the entrepreneurial spirit, opportunities are discovered or created. The owner attributes a lot of his success to his staff. As with most businesses right now, though, it is hard to find a full staff of employees. In October, he will begin his tax classes for those wishing to start a new career.
This entrepreneur is inspired by the stories of other local business owners, yet he is surprised by the absence of tax guidance.
“It’s amazing the lack of advice people receive, when I bring up a tax-saving strategy that I can provide, and yet sometimes their professional has never mentioned it to them,” Dye said.
He also cautions against assuming good tax preparation simply because one receives a refund each year. There may be more going on and Liberty can help create a better picture of the liabilities.
Look for the waving Lady Liberty outside of 1409 NW Broad St. this winter. It just might be Dwight Dye in the costume. He has donned the suit from time to time in order to attract new clientele. But he won’t just be waving at cars, his mind will be thinking of new ways in which to expand his business and ways to save you money.
