Our Spotlight series sheds light on the careers and lives of tax professionals around the world. This week’s Spotlight is on Sabrina James, a Certified Tax Preparer, Accountant, and QuickBooks Advanced Advisor.
James, who owns AccounTAXstic LLC, says she is fueled by her passion for helping small business owners and individuals manage their finances, increase profits and grow their businesses. His expertise ranges from multi-state taxes, personal and business taxes, tax planning and accounting services to more in-depth services such as payroll, bookkeeping, account reconciliation, budget analysis and financial planning.
When she’s not helping clients, James enjoys reading hardcover books, sipping peach green tea and chasing spicy pickles.
What is your official title and what does it mean? I am the founder and owner of AccountTAXstic LLC, an accounting and tax firm based in Columbia, MD. I direct and oversee the financial activities, acquisitions and marketing of the company, in addition to maintaining client relationships. I manage a team of two professionals and their daily operations to ensure compliance with relevant accounting, tax and regulatory requirements.
Free time: book, audiobook or podcast? I prefer to read a hardcover book. My favorite book is “The Power of Your Subconscious” by Joseph Murphy. This book changed my outlook on life and is a must read.
Taxation is a big topic. What is your particular area of interest? I specialize in real estate taxation. Prior to starting my accounting practice, I worked as an accountant for several multi-million dollar residential/commercial real estate companies. I have several clients who are real estate investors, landlords, real estate agents and brokers.
What is the last movie or show you watched and liked (DVD, Netflix or at the cinema)? The last movie I watched was “Needle in a Timestack”, a romantic suspense thriller. The film is set in the future, where time travel is the norm. The main character travels back in time to change who he marries but loses memory of the woman he truly desires to spend his life with.
What college did you attend and what did you study? I graduated magna cum laude while earning my Bachelor of Business Administration in Accounting and Finance from Georgia State University.
Pick up: Coffee or tea? I’m not a big caffeine consumer; however, I like to drink tea. My favorite flavor is caffeine-free peach green tea.
What is the best tax or financial advice someone has ever given you? Never stop learning. Knowledge is power, but the secret is knowing how to monetize your knowledge and strategically present it to targeted prospects.
If you weren’t in the tax field, what would your dream job be? My dream job would be to start a non-profit organization that teaches financial literacy to people in very poor areas.
If you had the option of making one change in the tax world — an extra credit, a disallowed deduction, whatever — what would it be? I have many clients who take advantage of the District of Columbia rent credit. I would like this tax credit to be added as a federal tax credit. Many people claim mortgage interest as an itemized deduction. I think it would be fair to also credit people who pay rent.
Favorite food, snack or treat during tax time or another busy time? My favorite food is pickles. I love spicy pickles and plan to attend the Big Dill Pickle Festival in Maryland in September.
What tax news or ruling has had the most impact on your practice or clients in the past year? The Advanced Child Tax Credit and Stimulus Payments – many people were unsure if they had received them. During the recent tax season, tax professionals were tasked with reconciling the monthly child tax credit advance payments and third stimulus payments on 2021 tax returns. the IRS did not issue letters 6419 and/or 6475 to taxpayers on time. These letters reflected the total amount of payments received by each taxpayer. We have advised several clients to check their bank statements or give my firm access to their IRS records to determine the correct payment amounts. As you can imagine, this increased our time to prepare taxes more than usual.
If you got a big tax refund check right now, what would you do with it? I would use it to contribute to my Roth IRA account. Savings contributed to a Roth IRA grow tax-free. Unlike the traditional IRA, contributing to a Roth IRA will not be a tax deduction. However, your contributions and their earnings can be withdrawn without paying income or capital gains tax if your distributions are deemed eligible.
You can read more about James on Linkedin.
You can read more about James’ firm, AccounTAXstic, here.
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