By Megan Sayles, AFRO Company Author,
Report for America Corps Member,
At just one time, Baltimore indigenous Andrea Scott was paying out a tiny fortune for mainstream companies to take care of her tax planning. Now, she is a tax and finance pro who owns Brownstone Tax and Monetary Expert services, which offers a lot more affordable alternatives for tax preparing, bankruptcy doc planning, lifetime insurance policy and fiscal organizing.
“I want every person to be equipped to operate from position A to place Z, so they can get from the phase of being familiar with funds, budgeting and their tax problem to the phase of dwelling ownership or even entrepreneurship,” said Scott.
When she was a one mother in her 20s, Scott depended on H&R Block to get ready her tax return. Scott considered the company’s fee was unreasonable. After staying charged hundreds of dollars, she took it upon herself to discover how to do taxes.
Following securing a proficient comprehending of tax legislation and the preparation process, Scott began aiding her buddies and relatives with their taxes. Quickly, she expanded her knowledge to insurance and financial advising.
In 2007, Scott set up Brownstone LLC, now identified as Brownstone Tax and Monetary Products and services. For decades, she ran the company even though also retaining a complete-time job with the Point out of Maryland. It was not until 2018 that Brownstone Tax and Financial Products and services grew to become her sole job.
“I have a complete crew of various people today that I function with due to the fact a great deal of folks in African-American communities don’t have obtain to these solutions or really don’t understand that they are there,” mentioned Scott.
Scott’s crew contains credit score experts, genuine estate brokers, bankers and tax professionals, and they enable purchasers better control their income and credit card debt, get existence and automobile coverage, file income taxes, settle IRS credit card debt and file individual bankruptcy sorts.
“One legacy I want to depart for my community is creating guaranteed that they are well prepared for fiscal security,” reported Scott. “We do not have a ton of cash, and a large amount of instances persons do not make a large amount, but there are methods we can control it.”
As a part of her motivation to supporting entrepreneurs, Scott also opened an insurance plan faculty in current yrs at Brownstone Tax and Money Products and services. It is just one of five establishments in Maryland that delivers hybrid and in-individual programs for lifetime and health and fitness, residence and casualty insurance plan prelicensing.
Exterior of managing her business, Scott and her sister direct the Inexperienced Dollar Challenge, a nonprofit firm dedicated to giving center and large school students with financial literacy. They host seminars to enable youth study how to read through their W-2s, recognize paycheck deductions and prepare for a protected monetary foreseeable future.
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