We’re excited to introduce you to the always interesting and insightful Priscilla Suggs. We hope you’ll enjoy our conversation with Priscilla below.
Alright, Priscilla thanks for taking the time to share your stories and insights with us today. Let’s jump to the end – what do you want to be remembered for?
Sharing financial knowledge and tax expertise with my communities helps me bridge gaps. Our communities face a lot trauma around money and investing or saving often isn‘t a reality when our families live paycheck to paycheck. The net wealth of a typical Black family in America is around one-tenth that of a white family. White households have about $100k-$200k net worth, Blacks and Latinos have $10k-$20k net worth. I‘m doing my best to share knowledge with my communities to use day to day and get one step closer to financial security. I passed the same exam as the 84% of white CPAs, but I’m black, I’m a woman and I’m part of the 2% fighting to bridge the wealth gap for people of color. This is why accounting will help me leave a legacy I am proud of.
As always, we appreciate you sharing your insights and we’ve got a few more questions for you, but before we get to all of that can you take a minute to introduce yourself and give our readers some of your back background and context?
Historically, the system of wealth in America was not designed for persons of color, women, or the employee. By day Priscilla is a full time Forensic Accountant, but after hours and weekends her energy is spent on her passion project, her part-time small business. Priscilla’s tax and financial services LLC is the one space she chooses who she supports and can genuinely have a direct impact on an individual, family or small business’ financial position.
Clients invest in their financial future with periodic comprehensive advising sessions, featuring personalized tax strategy and planning advice tailored to needs. The sessions provide the opportunity to take control of finances with individualized attention. Priscilla began tax preparation in 2008 while at UT Austin; she often goes the extra mile in providing additional considerations for clients based on the outcome of their IRS filings. IRS resolution is also a service offered. Resolving $6,000 or $45,000 IRS tax balances with curated, timely responses to IRS notices is incredibly gratifying; often times clients just need support properly articulating a response to justify the previous tax position taken.
Within the last 70 years no progress has been made in reducing income and wealth inequalities between black and white households. Through advising, financial and tax planning, and tax preparation, she assists her communities with building their savings and minimizing tax liabilities in an effort to create wealth. Priscilla serves all communities, especially those underserved.
Priscilla Suggs is a Certified Public Accountant (CPA) in Texas with over 15 years’ experience in audit, financial advisory and tax services. She obtained her bachelor’s degree from The University of Texas at Austin and an MBA from Tarleton State University.
Can you share a story from your journey that illustrates your resilience?
To start my own business and represent clients in court, I needed a CPA license.I spent 2 years studying for the CPA exam. I spent over $7000 out of pocket on the best study materials, audio guides and coffee at over priced shops while burying my FOMO during copious stretches of social probation. After the last attempt for completing the 4th section of the CPA I checked my score 3 days before Christmas Eve only to find I was 4 points shy of becoming a Texas CPA. I had never felt more defeated. I painfully watched the Texas Board of Accountancy expire 3 credits for sections that I did pass. (All sections have to be passed within a timeframe.) Genuinely trying and failing pierced my being. My greatest takeaways during that experience was that of no regret. The process was humbling and taught me the meaningful lesson of perseverance. After taking a year break, I went back after the CPA exam and passed all 4 parts one after another. I thought about what my biggest regret in 10 years would be; conquering the CPA exam was a feat I willed to win!
How’d you build such a strong reputation within your market?
Check out my Google reviews! My profession not only requires me to maintain high ethical standards on paper, but also in day to day life. This behavior is natural for me as I’ve always been the type to walk the walk and I think people appreciate that. I’m generally very self-aware, authentic, understanding and humble. I have a high degree of integrity and emotional intelligence. I do my best to communicate well to motivate others and I try to inspire client’s through accountability. And often, I try to set clear goals with clients to help achieve the outcomes desired.
Contact Info:
- Website: www.priscillasuggs.com
- Instagram: https://www.instagram.com
- Linkedin: https://www.linkedin.com/in/priscillasuggs/
- Other: Google Reviews