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Dr. Gwennetta Wright is a seasoned tax professional and entrepreneur with over 20 years of experience in the tax industry. As the proud owner of Xpert Tax Service LLC, she has built a thriving practice, helping individuals and small businesses minimize tax liabilities while maximizing refunds. In addition to her tax services, Dr. Wright is passionate about educating and mentoring fellow tax professionals through her Xpert Tax Academy, empowering them to grow their businesses into six-figure enterprises.

Beyond the tax world, Dr. Wright is a serial entrepreneur, owning businesses such as Pretty Boss Fashions LLC and GBC Media LLC. She’s also a licensed realtor and co-host of “Gwen’s Business Corner with Deonta B.” Her dedication to community service is evident through her nonprofit, Reach 4 Your Dreamz Inc., where she has impacted thousands of families over the years.

It’s an honor to speak with you today. Share with the readers of Sheen Magazine who your are and your story.

It’s such a pleasure to chat with Sheen Magazine today! I’m Dr. Gwennetta Wright, the proud owner of Xpert Tax Service LLC. For 20 years, I’ve been navigating the tax industry, and for the last 18, I’ve run my own practice. My expertise lies in crafting tax solutions for individuals and small businesses, always aiming to educate my clients to minimize their tax liabilities and maximize refunds where possible, all within the boundaries of tax laws.

Beyond just filing taxes, I’m deeply committed to helping fellow tax professionals. Through the Xpert Tax Academy, I provide the education and tools they need to grow their tax businesses into six-figure enterprises while ensuring they stay on the right side of IRS regulations.

I have a special place in my heart for small business owners. Besides tax services, I offer business consulting to help them scale and thrive. My team and I serve clients from our two locations in Columbus, GA, and just outside Atlanta in Stone Mountain, GA. We also cater to clients nationwide through our virtual platform at www.xperttaxservices.com.

Entrepreneurship runs in my veins. I also own Pretty Boss Fashions LLC, GBC Media LLC, and founded Reach 4 Your Dream Inc. As a licensed realtor under Prestige Property Broker and the executive producer and host of “Gwen’s Business Corner with Deonta B,” alongside my longtime friend and co-host, Deonta B, I’m continually looking to broaden my horizons and embrace new challenges.

What led you to start a career as a tax professional, and can you share a pivotal moment or experience that influenced your choice?  

I’ve always had a knack for numbers and a fascination with taxes. As a young adult, I eagerly awaited the start of each new year so I could pick up the latest tax books from the IRS building. I’d spend time figuring out not just my taxes, but also those of everyone around me, using our last paycheck stubs before we filed our taxes.

My path to becoming a tax professional began when I was looking for a part-time job to supplement my manufacturing job. My tax preparer at the time suggested I take a tax class. Once I started the class, I instantly knew this was my calling. I was so sure about it that I told the owners of the business I’d work with them for two years before starting my practice—even before I had completed a single tax return! Looking back, I realize that was God showing me a vision of my future, even though at the time I didn’t know what having a ‘vision’ meant.

The decisive moment for me came when I was unjustly demoted from my management position at my manufacturing job. That’s when I decided to leave and focus on running my tax office, even though it meant taking a job that paid half as much. Right after that first tax season, I was laid off from the new job, and it felt like a clear message. I remember it clearly—God asking me if I was going to follow His path or my own. At that moment, I decided to follow the path laid out for me, and the rest is history. Since then, aside from my other businesses, I’ve never worked for anyone else again. Preparing taxes has changed my life and the lives of everyone around me. It’s been a transformative journey.

As a tax professional, what continues to drive your passion for this field, and how do you stay motivated year after year?

What keeps me going year after year is the significant impact I’m able to make in people’s lives through education and inspiration. There’s something incredibly fulfilling about teaching others how their taxes impact their personal and business lives. Hearing my clients express gratitude for the knowledge they’ve gained means the world to me.

I often say that my tax business is my ministry. I believe God has placed me in this position not just to prepare taxes, but to make a meaningful difference in people’s lives. It’s a two-way street—I pray with some of my clients, and they pray for me. This connection deepens the work I do.

Additionally, the success of my business has allowed me to give back to my community significantly through my nonprofit, Reach 4 Your Dreamz Inc. For the last 16 years, I’ve been able to support thousands of families during Christmas and back-to-school seasons through this organization. I’ve also supported many other organizations, helping them fulfill their missions.

Staying motivated is all about continuous learning for me. Every new piece of knowledge I gain, I can pass on to someone else, and sometimes that information can profoundly affect their life. It’s this cycle of learning, teaching, and impacting that keeps me inspired and excited about what I do.

Can you discuss how the tax industry has evolved and changed over the past few decades, including any notable shifts or trends from 10 years ago and 20 years ago?  

The tax industry has undergone significant changes over the last few decades, particularly in the last 10 and 20 years, marked by notable shifts and trends that have transformed how services are delivered and regulated.

Over the last 10 years, one of the most significant changes has been the move towards virtual tax preparation. More people are opting to have their taxes prepared online, which allows tax professionals to operate from home, reducing the need for physical office spaces and associated overhead costs. Although I still maintain physical locations, the convenience of virtual services for both clients and tax preparers has become increasingly apparent.

Looking back 20 years, a major shift has been in the compliance requirements and responsibilities placed on tax professionals, especially concerning Due Diligence. The stakes have risen considerably for handling returns that involve refundable credits like the Earned Income Tax Credit (EITC). Many tax professionals may not realize that failing to ask the right questions, obtain the correct documents, or properly qualify clients for these credits can result in fines of up to $2,400 per return, with penalties set to increase next year. This heightened responsibility has led some tax pros to shift away from tax preparation to other areas within the industry to avoid these severe fines.

Another significant evolution has been the technological improvements within the IRS itself. The agency has become more adept at flagging returns, allowing quicker responses from clients, and enhancing their website to make it more user-friendly. These changes enable taxpayers to stay more informed about the status of their returns and interact more efficiently with the IRS.

These developments reflect a broader trend towards digitalization and increased accountability within the tax industry, impacting both how professionals operate and how clients experience the tax preparation process.

If our readers were looking to work with you as a tax professional, what characteristics or traits should they possess?  

If you’re thinking about working with us at Xpert Tax Service, we primarily cater to a diverse range of clients, with a particular focus on small business owners, especially those operating as sole proprietors or single-member LLCs who haven’t elected to be taxed as an S-Corp. In today’s environment, many individuals have some form of self-employment alongside their regular jobs, and it’s our goal to ensure they are well-informed about proper record-keeping for income and expenses and understand how self-employed income impacts them both personally and in their business.

Here are some key traits and characteristics that would make you an ideal client for our services:

Value-Oriented: You should value efficient and cost-effective solutions that optimize your tax situation without compromising on quality or compliance.

Tech-Savvy: Since much of our tax preparation and consultation can be conducted virtually, being comfortable with using digital platforms and technology will enhance our collaboration and make the process smoother for you.

Trust-Seeking: We look for clients who seek not just a service provider, but a trusted advisor. You should value a relationship where your tax professional provides guidance and support, helping you navigate the complexities of tax planning and compliance.

Record-Keeping: Given our focus on small business owners and self-employed individuals, having good habits in record-keeping or the willingness to adopt such practices is crucial. This ensures that we can provide the best advice based on accurate and comprehensive financial information.

Share with our reader what’s next for you.  

Looking ahead, I have some exciting plans on the horizon. By 2028, my goal is to help 1,000 women tax professionals reach the six-figure revenue mark. I’m committed to coaching, empowering, and providing them with the necessary resources and tools to achieve this milestone while remaining compliant and avoiding penalties for not meeting Tax Pro Due Diligence standards.

In addition to this ambitious goal, I’m dedicated to continuing my educational efforts within the tax community, focusing particularly on taxpayers and small business owners, as well as fellow tax professionals. Education is key, and I’m passionate about providing the knowledge that empowers and protects.

To further support these efforts, I’m creating communities where like-minded individuals can connect, learn, and grow together. If you’re interested in joining us, here are a couple of groups you might consider:

Women Tax Pros: A community tailored specifically for female tax professionals. Join us at https://www.facebook.com/groups/womentaxpreneursunited

Business Owners: If you’re a business owner looking to navigate the complexities of taxes and grow your business, https://www.facebook.com/groups/ceoinnercirclegroup

These initiatives are just part of my ongoing commitment to enrich and elevate the tax professional community. I’m excited about the future and look forward to making a significant impact!

Where can our readers follow you on social media?

Readers can stay connected and follow me across various social media platforms. For insights into tax services, business solutions, and more, you can find me at:

Instagram, Facebook, Twitter, LinkedIn: @xperttaxservice

Facebook: @xpertbusinesssolution 

Instagram, Facebook, Twitter, LinkedIn: @gwennettawright

I’m active on these platforms and look forward to engaging with you all!

 

 

Photo Credit: Tiffany Wright