{"id":28389,"date":"2017-02-06T13:00:00","date_gmt":"2017-02-06T18:00:00","guid":{"rendered":"https:\/\/goebt.com\/tax-time-is-approaching-prepare-your-store\/"},"modified":"2025-04-02T12:52:25","modified_gmt":"2025-04-02T16:52:25","slug":"tax-time-is-approaching-prepare-your-store","status":"publish","type":"post","link":"https:\/\/goebt.com\/tax-time-is-approaching-prepare-your-store\/","title":{"rendered":"Tax Time is Approaching, Prepare Your Store"},"content":{"rendered":"<p><em><strong>It\u2019s 2017 and W-2s have been printed and mailed.<\/strong><\/em>\u00a0 While you\u2019re planning for you own tax obligations, be aware that many consumers are filing their own taxes and likely receiving a refund.\u00a0 According to IRS data, \u201c8 out of 10 US taxpayers will get a refund averaging just under $3,000\u201d<span style=\"font-size: 11.6667px;\"><sup>1<\/sup><\/span>.\u00a0 Often, these lump sums become the driving force behind a lot of irregular consumer spending habits.\u00a0 There are a lot of ways you can put your c-store in the position to make the most of this tax season.<\/p>\n<p><!--more--><\/p>\n<ul>\n<li><strong>Offer Check Cashing and Bill Pay<\/strong><\/li>\n<\/ul>\n<p>For the unbanked and underbanked community, tax refunds often come in the form of a paper check.\u00a0 These consumers will be looking for a fast and cheap way to get their cash in hand.<\/p>\n<p>A lot of consumers use their tax refunds to get caught up on bills and pay down debt.\u00a0 Your c-store could be a great resource for those that want <a href=\"\/billpay\">one easy way to pay all their bills in cash.<\/a><\/p>\n<p>Whether you choose just one or both services, you\u2019ll reap the benefits of increased traffic, additional surcharge income, and increased sales.<\/p>\n<ul>\n<li><strong>Get an ATM<\/strong><\/li>\n<\/ul>\n<p>Many consumers will have their tax refunds deposited directly in to their accounts. <a href=\"\/solutions\/atm-solutions\/\">Having an ATM in your convenience store<\/a> means you can not only profit from surcharge revenue when customers withdraw their tax money, but bring in even more customers who are more likely to spend their cash on hand after using the ATM.<\/p>\n<ul>\n<li><strong>Optimize Inventory<\/strong><\/li>\n<\/ul>\n<p>Make sure you\u2019re prepared for consumers with more cash to spend by stocking up on the items they\u2019re most likely to buy.\u00a0 More money in consumer pockets means more money to spend on the things they really want, and even more impulse buys.<\/p>\n<ul>\n<li><strong>Sell Prepaid Cards<\/strong><\/li>\n<\/ul>\n<p>Many consumers do not want to carry around thousands of dollars in cash for security reasons. \u00a0However, the unbanked and underbanked customers may not have bank accounts to deposit their refund checks into. \u00a0Having the opportunity to load their tax refund on to a prepaid card will not only help protect their funds, but also allow them to use their money ways they may not otherwise have been able to.\u00a0 Prepaid cards give these consumers the ability to shop online and use services like Netflix or Uber.<\/p>\n<ul>\n<li><strong>Run Special Promotions<\/strong><\/li>\n<\/ul>\n<p>Bring in more customers during tax season by offering tax-specific deals on products.\u00a0 Consider trying some of the following tactics: using the word \u201ctax\u201d in your offers, providing a discount or special pricing that uses \u201c1040\u201d or \u201c18\u201d, position products as tax season \u201cde-stress\u201d items.<\/p>\n<ul>\n<li><strong>Prepare Your Staff<\/strong><\/li>\n<\/ul>\n<p>During tax season, it is wise to make sure you have enough staff to handle larger crowds and keep lines to a minimum, especially during peak shopping times.\u00a0 Consumers who have an enjoyable experience during this time, are even more likely to come back again and again.<\/p>\n<p><strong>Things to Remember<\/strong><\/p>\n<p>This year there will be some changes to the Nation&#8217;s tax season procedures that may affect when consumers will receive and begin using their tax refunds:<\/p>\n<ul>\n<li>Deadline to file and pay is April 18<sup>th<\/sup><\/li>\n<li>Any tax returns claiming the Earned Income Tax Credit or Additional Child Tax Credit will be withheld until February 15<sup>th<\/sup>.<\/li>\n<li>There is a three-day weekend for President\u2019s Day, which is on February 20<sup>th<\/sup><\/li>\n<\/ul>\n<p>Sources<\/p>\n<ol>\n<li>https:\/\/advertising.weather.com\/news\/refund-alert-low-tax-season-spending\/<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s 2017 and W-2s have been printed and mailed.\u00a0 While you\u2019re planning for you own tax obligations, be aware that many consumers are filing their own taxes and likely receiving a refund.\u00a0 According to IRS data, \u201c8 out of 10 US taxpayers will get a refund averaging just under $3,000\u201d1.\u00a0 Often, these lump sums become [&hellip;]<\/p>\n","protected":false},"author":244,"featured_media":28390,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1],"tags":[219,205,222],"class_list":["post-28389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-important-announcement","tag-building-your-business","tag-industry-news","tag-seasonal-trends"],"_links":{"self":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/users\/244"}],"replies":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/comments?post=28389"}],"version-history":[{"count":2,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28389\/revisions"}],"predecessor-version":[{"id":31152,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/posts\/28389\/revisions\/31152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/media\/28390"}],"wp:attachment":[{"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/media?parent=28389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/categories?post=28389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goebt.com\/wp-json\/wp\/v2\/tags?post=28389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}