By Megan Sayles, AFRO Business Writer,
Report for America Corps Member,
At a single time, Baltimore native Andrea Scott was paying out a small fortune for mainstream organizations to take care of her tax preparation. Now, she is a tax and finance pro who owns Brownstone Tax and Economic Products and services, which provides more cost-effective options for tax preparing, personal bankruptcy doc preparation, existence insurance and monetary setting up.
“I want everyone to be ready to function from place A to stage Z, so they can get from the stage of knowing funds, budgeting and their tax situation to the stage of home ownership or even entrepreneurship,” explained Scott.
When she was a single mom in her 20s, Scott depended on H&R Block to prepare her tax return. Scott imagined the company’s fee was unreasonable. Following getting billed hundreds of pounds, she took it upon herself to learn how to do taxes.
Following securing a proficient knowledge of tax law and the planning course of action, Scott began helping her close friends and relatives with their taxes. Before long, she expanded her experience to insurance and economic advising.
In 2007, Scott proven Brownstone LLC, now recognised as Brownstone Tax and Economic Solutions. For yrs, she ran the agency even though also keeping a entire-time position with the State of Maryland. It was not till 2018 that Brownstone Tax and Monetary Services became her sole vocation.
“I have a full team of different folks that I do the job with for the reason that a lot of persons in African-American communities never have accessibility to these companies or never know that they are there,” explained Scott.
Scott’s crew includes credit experts, genuine estate brokers, bankers and tax gurus, and they enable shoppers greater handle their funds and personal debt, buy everyday living and automobile insurance policy, file earnings taxes, settle IRS credit card debt and file personal bankruptcy varieties.
“One legacy I want to leave for my neighborhood is generating certain that they are well prepared for financial balance,” reported Scott. “We really do not have a whole lot of funds, and a large amount of moments people do not make a large amount, but there are methods we can deal with it.”
As a section of her dedication to supporting business owners, Scott also opened an coverage university in recent many years at Brownstone Tax and Economic Products and services. It is one of five establishments in Maryland that provides hybrid and in-particular person programs for everyday living and well being, home and casualty insurance plan prelicensing.
Outdoors of running her firm, Scott and her sister lead the Eco-friendly Dollar Project, a nonprofit corporation devoted to delivering center and significant school pupils with economical literacy. They host seminars to support youth learn how to browse their W-2s, comprehend paycheck deductions and get ready for a safe monetary long run.
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