MKG Enterprises Corp Leading mobile tax refund tech
MKG Enterprises Corp Leading mobile tax refund tech company Software-as-a-Service “File Your Taxes Anywhere Get Your Max Tax Refund”
The Problem (or Unsolved Need) • Proposed mobile software application concept and the needs it fulfill. The app that is suggested to allow a customer to more easily apply for and receive tax advances that would be based upon customer's expected Federal Tax Refund as collateral and repayment provided by MKG Enterprises Corp. and its affiliate's MKG Money Service Business, Cash ASTRO Lender, MKG Tax Consultants. In regards to the New IRS Tax Law passed the PATH ACT delaying tax refunds until Feb 15 CASH ASTRO Lender as having the potential to generate loan reviews for banks, tax businesses, finance lenders, credit lenders a green product/service that could eliminate physical paperwork and reduce the related processing and overhead efforts.
The Solution • 1. Chat feature to instant message your tax preparer, answer questions • 2. Free to download, apply for a tax refund accepted loan from your mobile phone. • 3. Eliminate the hassle to drop by tax office unexpectedly • 4. Skip the line download our mobile app prepare your taxes anywhere and get your max tax refund. • 5. Improved customer service • 6. Eliminate taking time off work. • 7. No waiting to see a tax preparer for hours. • 8. Compatible with ISO & Android • 9. Safe, convenient, secure, share information and upload documents with your tax preparer.
Market Size • • • Total Addressable Market (TAM) -The Company is in the business of being a distributor of Pre. Paid Visa Cash. Pass Debit Cards offered by Metropolitan Commercial Bank, Auto Equity Title Loans and Tax Refund Secured Loans. – The Company intends to raise a minimum of $100, 000. 00 and a maximum of $5, 000. 00 in this Offering to fund the continued growth of our business. The Common Stock will be offered in a private placement offering pursuant to an exemption from registration under Rule 506 (c ) of Regulation D – All tax clients that file their taxes in Central Valley & United States. Serviceable Available Market (SAM) – We can service over 10, 000 clients through our mobile app and store front locations during tax season and have partnered with Robert Half Account Temps to provides us with on demand accounting staff. Serviceable Obtainable Market (SOM) The payday advance service emerged in the early ‘ 90 s, and grew as a result of strong consumer demand changing conditions in the financial services marketplace. A number of changes in the throughout the country marketplace prompted industry growth, including: The exiting of traditional financial institutions from the small-denomination, short-term credit market—a change largely due to its high cost structure; The soaring cost of bounced checks and overdraft protection fees, late bill payment penalties, and other informal extensions short-term credit to of short-term credit; and The continuing trend toward regulation of the payday advance service, providing customers with important consumer protections. Drivers for Adoption today, payday loan stores fill the need for small dollar, short-term credit in communities services marketplace. A number of changes in the throughout the country. Industry analysts estimate that 20, 600 payday advance locations across the United States extend about $38. 5 billion short-term credit to millions of working Americans in 19 million households who
Competition Table • Our competitors National Retail Tax Preparation Chains are Liberty Tax, HR Block, Jackson Hewitt, Turbo. Tax, Online DIY Do It Yourself Tax software and unlicensed tax preparers. • What makes MKG Tax Refund different is our competitive advantage; what makes MKG Tax Refund different/better than our competitors? MKG Tax Refund is a highly scalable business that's serves as a intermediary bridge between tax professionals and clients, we are a technology driven Service Bureau that provides high volume tax business software, proprietary tax refund mobile app and year round tax refund advances in regards to the PATH ACT that will affect millions of tax refunds. • The vast majority of our competitors aren't licensed direct lenders that can provide other financial services to tax clients for alternative financial solutions or build bridges/ relationships with other tax companies, tax software provider and banking partners. They only provide tax preparation alone, consumers have no other options and their customer satisfaction rate is less than 10% for 1 in 10 approved applying for 3 rd party tax advances from banks that only look at their tax refund and not their income and ability to repay. • Their aren't any mobile apps developed to provide tax advance loans that meet AML/BSA/KYC policy and procedures to cover this action is driven by the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) that was enacted Dec. 18, 2015, and made several changes to the tax law to benefit taxpayers and their families. Section 201 of this new law mandates that no credit or refund for an overpayment for a taxable year shall be made to a taxpayer before Feb. 15 if the taxpayer claimed the Earned Income Tax Credit or Additional Child Tax Credit on the return. This change begins Jan. 1, 2017
How it works • 90% approval rate, no bankruptcy, no FMS debt, no tax liens, child support, , earned income, active bank account, tax return must be filed electronically with MKG Tax Consultants and be eligible for refund. • Must meet all underwriting qualifications. • Why choose MKG Tax Consultants? • We focus solely on: tax refund advances in 24 to 72 hours and tax refund line of credit. • We offer several lending products tailored to your financial needs during tax season.
Goto Market Strategy • • Marketing- By using Social media platforms facebook, Youtube, Google AD words, twitter, radio, Television Sales- Consumers can qualify for up to $2, 600 Look Alike Tax Refund Advances or Auto Title Loan" Available through Android/ISO mobile app Tier 1 $225 interest rate 2. 5% APR 30% Tier 2: $225 -$900 interest rate 2. 0% APR 24% Tier 3: $900 - $1, 650 interest rate 1. 5% APR 18% Tier 4: $1, 650 -$2, 500 interest rate 1% APR 12% Tier 5: $2, 600 interest rate 14% to 36% APR • Partnering- Life Long Residual Income Active Cash. Pass Cards= Active Income (Partner Revenue • • Distribution- Mobile app proto-type: • Pricing- Revenue model for basic 1040 tax return is $150 charge per form standard pricing for 2 Structure) https: //www. youtube. com/watch? v=nzg. P 7 y 6 Rd. DM&t=8 s W 2 claiming EITC is $250 per client, schedule C small business returns are $399, Corporate 1120 S, 1065, 990 N tax returns are $500. Bookkeeping and payroll services billed at $50. 00 per hour
The Team • • Marshawn Govan President, CEO A Game changer in the tax industry that strives to provide Innovative Fin. Tech Non-Bank Financial Services to disrupt our competitive market. • • Erin Frey Operational Manager Licensed Registered Tax Return Preparer & Licensed Insurance Agent. Erin has been with the company since 2012. Erin received her Bachelor Arts degree from the University of CSUF in Liberal Arts.
Financial Forecasts • The financial condition and capital resources of MKG Enterprises Corp and affiliates MKG Tax Consultants have had a 45% customer retention and business is still able to generate 100 K in revenue operating on a seasonal basis.
Funding • Amount of funding requested $500, 000 • Use of Funds: The net proceeds from this offering will be used to expand • marketing, sales and distribution capabilities and provide working capital. According to the IRS Statistics MKG Tax Refund will need an enormous amount of capital to supply the consumer demand for Tax Advances and support the total volume of estimated return that are expected to be filed 2018 tax season. • Milestones • • • Create first mobile tax software that will be a patented technology to offers alternative banking in Fresno, CA showcase as the world's Leading mobile tax refund tech company Software-as-a-Service. CRM integration with sales-force Become listed on OTC Market and Pink Sheet via Reg A+ Offering Marketing, development, research Already filed Regulation D with SEC.
Intended Use of Proceeds If maximum amount sold Total Proceeds $5, 000 Less Offering Expenses $245, 000 Less Invent Help/Attorney* Costs $10, 000 Net Proceeds $4, 745, 000 Initial Public Offering (IPO) $100, 000 Mobile App Development $20, 100 Financing of Tax Advance Refund Anticipation Loans $1, 000 Financing Auto Title Loans $1, 000 Franchising Business $50, 000 Administrative Costs $145, 000 Operational Overhead Cost $155, 096 Commercial Real Estate Investment $650, 000 Debt Securities $64, 300 Total Use of Proceeds $3, 184, 496 Remaining Capital $1, 560, 504
Contact Info/ Thank you Marshawn Govan President, CEO MKG Enterprises Corp 4021 N Fresno Street Suite 107 Fresno, CA 93726 Office (559) 412 -7248 Toll-Free 866 -675 -3933 Thank you for taking the time to learn about MKG Tax Refund Investment opportunities.
Appendix
- Slides: 14