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Explore the recent changes in tax legislation, focusing on corporate tax structures, compliance, and potential shifts in personal tax deductions, crucial for accountants and businesses.
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Liberty Tax, becoming a parent to franchise organizations, has agreed to buy Sears. Hometown Outlet and the Sear’s business, Buddy’s Home Furnishing Stores. The deal is a cash transaction with a value of about $132.9 million and is expected to close next month.
Another Liberty holding, Buddy’s Newco, had acquired 41 Buddy’s Home Furnishings from A-Team Leasing, a Buddy’s franchisee. A-Team plans to become a franchisee of five Sears Outlet locations. In addition, Liberty expects to complete the purchase of the Vitamin Shoppe in the fourth quarter.
The parent company, Liberty Tax, is changing its name to Franchise Group, Inc., with its tax preparation services operating under the name Liberty Tax as a subsidiary.
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