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Detailed text transcripts for TV channel - MSNBC - 20150412:11:39:00

we're here to stay. >> to say that just because they don't put on a suit and go to work every day, they don't have a real job or they don't need benefits like a real worker would, is ridiculous. >> but all this goodwill must come at a cost right? after all, san francisco is one of the most competitive restaurant markets in the world. >> a successful restaurant is profiting 5%. >> what do you guys do? >> closer to 22%. >> 22% profit? >> on a good year. my accountant is going to kill me for telling you that. >> a recipe for success that has them all coming back for more. cynthia mcfadden, nbc news, san francisco. john hewitt has made quite a name for himself in the tax preparation industry. the cofunder for jackson hewitt a company which he no longer works but bears his name is the founder and ceo of liberty tax service based in virginia beach, virginia. now the third largest tax prep firm in the country, liberty has 4300 locations and continues to

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Detailed text transcripts for TV channel - MSNBC - 20150412:11:52:00

>> i think the main question i would have is how to make sure you're covering all the bases you need to have in terms of legality with taxes. i have an attorney and i have a financial person, but i'm not really sure i'm doing everything i need to do. >> this just gets to the point of hiring people that you can trust. and how do you find them? you can't just find any attorney, any accountant. >> i've been through this in a very interesting way. i had just a sort of general tax adviser/accountant. then i found out that there are people who specialize in industries. so i hired somebody that specialized in the manufacturing and actually home furnishings industry and centered around creative business. and he was able to walk me through the myriad of ways that i was not maximizing my tax returns over the years. and i actually got money back. so really finding somebody who specializes in the business that you do in taxes is so key. otherwise you're literally throwing money out the window. >> right. >> i agree.

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