Tax Preparation

1. Please refer to the accompanying business
plan for further detail.
*

2. *
*Cornbelt Financial, LLC provides individuals,
businesses, and aspiring entrepreneurs with tax
services including tax preparation, tax
planning, tax consulting, tax audit support,
bookkeeping, payroll services, and start-up
consulting in order to enable clients to retain
and utilize the optimum amount of their
financial capital in order to achieve their
financial goals.

3. *
*Innovation & Entrepreneurship
*Passion & Commitment
*Community Involvement
*Culture & Diversity
*Communication & Transparency
*Industry Leader
*Connected & Networked
*Disciplined & Ethical
*Accepting of Change
*Evidence-Based Management

4. *
*Services Provided:
*Tax Preparation
*Tax & Estate Planning
*Tax Consulting
*Tax Audit Support
*Bookkeeping & Payroll Services
*Start-Up & Business Consulting

5. *
* The U.S. Bureau of Labor Statistics says that employment of
accountants and auditors is expected to grow faster through 2018
than for all the occupations the bureau tracks. It adds that the best
prospects are for those “who have a college degree and professional
certification, especially a CPA.” CNNMoney.com, which ranks the
“hottest” jobs based on “great pay and superior growth prospects”
and “work that's meaningful,” puts CPA as number 6 on its top-ten
list.
* According to the AICPA, 75 percent of today’s CPAs—by and large the
baby boomers—will be retiring within the next 15 years. As they leave
full-time active practice, the demand for qualified CPAs to fill the
ranks will continue to increase.
* The most appealing aspect of Cornbelt Financial entering within the
Downtown Denver metro is the lack of competition within the tax
field. Cornbelt Financial expects to receive an abundance of
individual tax clients whom both work and reside in the Downtown
Denver due to the lack of competition.

6. *
*Cornbelt Financial target market consists of
individuals who are professionals, small business
owners, and aspiring entrepreneurs.
*Cornbelt Financial targets clients who are in the
early stages of the family life-cycle who are either
planning to get married or starting a family
typically ranging in the age group of 25 years old to
35 years old.
*These individuals are typically experiencing the
start of more complicated tax returns for the first
time and will provide Cornbelt Financial with
continued future business.

7. *
*Cornbelt Financial will implement four main
strategies in order to promote Cornbelt
Financial including:
*Referrals
*Community Outreach
*Promotional Partnerships and Events
*Outbound Marketing

8. *
*Cornbelt Financial will lease office space through
YourOffice during the first six months of operations
(December 1st, 2015 – May31st, 2016) and then
virtual office space during the offseason (June 1st,
2016 – November 30th, 2016) located at the
Dominion Towers in Downtown Denver, CO.

9. *
* A few of the most recent and upcoming developments within the Downtown Denver
Metro include the following:
* The development of the Denver Union Station Neighborhood.
* New Platform at Union Station – 287 units.
* The Coloradan at 17th and Wewatta in the Union State neighborhood – 19 stories.
* Le Meridien and AC Brands hotel at 15th and California – 20 stories, 480 rooms.
* Housing project at 18th and Chestnut in the Union Station neighborhood – 105 units.
* The Eviva Cherokee in Golden Triangle neighborhood – 18 stories, 274 units.
* Seventeen W in the Union Station neighborhood – 3 towers, 13 stories, 640 units.
* Skyhouse Denver at 18th Avenue and Broadway – 25 stories, 354 units.
* 1144 Fifteenth Street at 15th and Arapahoe – 40 stories, 600,000 sq. ft. of office space.
* Alexan Uptown at 19th and Logan in the Uptown neighborhood – 12 stories, 372 units.
* Z Block at Wazze and 18th – 6 stories, 260,000 sq. ft. of office space, and retail.
* Two Tabor Center at 17th and Larimer – 31 stories, 700,000 sq. ft. of office space.
* 999 17th Street mixed use development– 28 stories, 360 units.

10. *
* Adam Carr
* EDUCATION:
* B.S. in Finance from Iowa State University
* M.B.A. in Entrepreneurship from Ashford Univeristy
* DESIGNATIONS/CERTIFICATIONS:
* IRS Enrolled Agent
* CPA - Currently scheduled to take the REG exam in February 2016.
* PROFESSIONAL:
* Sales & Customer Service: 4 Years
* Finance, Accounting, & Taxes: 4 Years
* Leadership: 3 Years
* Entrepreneurship: 3 Years
* MEMBERSHIPS:
* National Association for Enrolled Agents

11. *
*Cornbelt Financial will implement a Board of
Advisors to provide input for all aspects of
operations including Sales and Marketing,
Finance, Accounting, Tax, Human Resources,
Industry Trends, Law and Regulations,
Operations, and Future Growth.

12. *
*Short-Term Goals (within 1 year)
*Obtain CPA
*Launch Online Tax Preparation
*Generate $45,000+ in Second Year Revenues
*Long-Term Goals (2 – 5 years)
*Open Additional Locations
*Expand Services and Staff
*Generate $750,000+ Total Revenues During First
Five Years.

13. *
*Cornbelt Financial is seeking to launch an
online tax preparation service for the 2017 tax
season.
*The cost to launch online tax preparation
services is $23,000.
*Costs include the development, licensing, &
prepaid filing fees.

14. *
*Cornbelt Financial is initially seeking to
crowdfund the $23,000 needed by pre-selling
online tax returns.
*However, Cornbelt Financial is willing to
consider a variety of funding structures.

15. *
REVENUE PROJECTIONS (DENVER ONLY) 2016 2017 2018 2019 2020
Denver Office
Total Weeks 15 15 15 15 15
Hours/Week 15 25 35 45 55
Approx. Returns/Week 10 17 23 30 37
Total Hours Billed 225 375 525 675 825
Total Approx. Returns 150 250 350 450 550
Hourly Rate $150.00 $150.00 $150.00 $150.00 $150.00
Total Office Revenue $33,750.00 $56,250.00 $78,750.00 $101,250.00 $123,750.00
Denver Online
Total Weeks 15 15 15 15 15
Online Returns/Week 0 0 0 75 150
Total Approx. Returns 0 0 0 1125 2250
Revenue/Return $24.95 $24.95 $24.95 $24.95 $24.95
Total Online Revenue $0.00 $0.00 $0.00 $28,068.75 $56,137.50
Denver Offseason/Additional Services
Total Weeks 33 52 52 52 52
Hours/Week 5 10 15 20 25
Total Hours Billed 165 520 780 1040 1300
Hourly Rate $75.00 $75.00 $75.00 $75.00 $75.00
Total Offseason Revenue $12,375.00 $39,000.00 $58,500.00 $78,000.00 $97,500.00
TOTAL PROJECTED REVENUES $46,125.00 $95,250.00 $137,250.00 $207,318.75 $277,387.50

16. *
EXPENSES PROJECTIONS 2016 2017 2018 2019 2020
Denver Office Rent $ 3,920.00 $ 4,704.00 $ 4,704.00 $ 18,000.00 $ 18,000.00
Denver Virtual Rent $ 450.00 $ 450.00 $ 450.00 $ - $ -
Denver Marketing $ - $ 5,000.00 $ 6,500.00 $ 7,000.00 $ 8,500.00
Website Development & Updates, Logo, & SEO $ - $ 500.00 $ 500.00 $ 500.00 $ 500.00
Tax Software $ - $ 1,495.00 $ 1,495.00 $ 1,495.00 $ 1,495.00
Denver Office Equipment $ - $ 200.00 $ 800.00 $ 200.00 $ 200.00
Online Document Storage $ - $ 200.00 $ 400.00 $ 400.00 $ 800.00
Office Supplies $ 1,200.00 $ 1,200.00 $ 1,200.00 $ 1,200.00 $ 1,200.00
Legal Fees $ 1,500.00 $ 1,500.00 $ 1,500.00 $ 1,500.00 $ 1,500.00
Utilities $ - $ - $ - $ - $ -
E/O Insurance $ 1,200.00 $ 1,200.00 $ 1,800.00 $ 1,800.00 $ 1,800.00
Travel & Lodging $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00
Contract Labor $ 500.00 $ 500.00 $ 3,000.00 $ 6,000.00 $ 9,000.00
Prepaid Online Tax Prep Expenses $ - $ - $ - $ 18,000.00 $ -
Online Tax Prep Expense/Return $ 6.00 $ 6.00 $ 6.00 $ 6.00
$
6.00
Recognized Online Tax Prep Expense $ - $ - $ - $ - $ 2,250.00
Online Tax Prep License $ - $ - $ - $ 5,000.00 $ -
Crowdfunder 10% of Gross Profit Repayment $ 4,612.50 $ 9,525.00 $ 5,862.50 $ - $ -
TOTAL PROJECTED EXPENSES $ 14,382.50 $ 27,474.00 $ 29,211.50 $ 62,095.00 $ 46,245.00
TOTAL PROJECTED EBITDA $31,742.50 $67,776.00 $108,038.50 $145,223.75 $231,142.50