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Empowering women-owned businesses: ‘Do what you love!’

In the seventh grade, Kameta Hopkins wrote her first business plan and titled it “My Million Dollar Salon,” projecting to make $1 million dollars annually.
 
 Carlee
McCullough

In the seventh grade, Kameta Hopkins wrote her first business plan and titled it “My Million Dollar Salon,” projecting to make $1 million dollars annually. Now she is contributing to the big dreams of others by making sure their financials are in order. With a fascination for numbers, it was only natural that Hopkins – the owner of KLHopkins Tax Services – would gravitate towards the financial industry.

Carlee McCullough, Esq.: Tell us about yourself and how you started KLHopkins Tax Services?

Kameta Hopkins: I grew up in Greenville, Miss., and obtained a Bachelor’s Degree in Accounting from Mississippi State University. Right after graduating, I accepted a job and moved to Memphis and went back to school for my MBA.

I inherited most of my “entrepreneurial spirit” from my grandfather, who managed his own barbershop as well as being a real estate investor. So I started out by doing family members’ tax returns for practice as a teen. Years later, I started KLHopkins Tax Services offering services to individuals and businesses throughout the tri-state area.

CM: What primary factors did you consider before starting your company?

 
 Kameta
Hopkins

KH: I wanted to take something I enjoyed doing and turn it into a business. I considered all the usual start-up components associated with starting a business, such as leasing a building, furniture, equipment, and staff, etc. Ultimately, I decided that it was in my best interest to start out as a one-woman, home-based business. That decision allowed me to minimize overhead and to put more resources into the industry specific products I needed to provide comparable services to my clients. But as my client base grew, I reinvested into the business and leased my first office to enhance business as well as make it more convenient for existing clients.

CM: What services do you offer?

KH: We currently offer a range of tax planning and preparation services to meet the needs of individuals and businesses. Our core specialty is filing personal and business tax returns, both federal and state. We have several filing options, such as free e-filing and traditional paper returns, as well as bank products such as direct deposit and debit cards. We also offer several accounting services, including bookkeeping, financial statement preparation, payroll services, bank and credit card reconciliation, sales and use tax reporting, year-end services such as 1099 preparation, as well as notary services. We guarantee professional, personalized, and confidential services to each of our clients.

CM: We recommend businesses have a good lawyer and accountant integrated into their team. How and when should a business engage an accountant?

KH: It is always a good idea to make contact with a lawyer and an accountant at the inception of your venture for advice on setting up the business properly and, at the least, get general recordkeeping advice. A small business can probably continue using an outsourced or part-time basis accountant for quite a while.

CM: Small business owners tend to think they cannot afford professional accounting services. Is it costly to engage professional accounting services?

KH: Contrary to popular beliefs, it’s actually not expensive. Many business owners either don’t have the time or the “know how” to properly maintain their financial records. The key is to get with a professional that can examine the needs of your business and tailor accounting services to fit those needs. In the end, the benefits of having more control over the financial state of your business will definitely outweigh the costs, hands down!

CM: If you had one piece of advice to give to someone starting a business, what would it be?

KH: I would say DO WHAT YOU LOVE! When you do what you love to do, the pay is just a bonus! You’ll go to work every day and give your all from the time the doors open until they close. You and your family will reap the benefits of you being a successful business owner and a happier you!

CM: Any closing remarks?

KH: I would just like to thank the Tri-State Defender newspaper for allowing me and KLHopkins Tax Services to be a part of this issue and wish much success to all the other women entrepreneurs who have turned their dreams into reality! Please keep KLHopkins Tax Services in mind for your tax and accounting needs!

(For more information about KLHopkins Tax Services, visit www.KLHopkinsTax.com.)

(Please send your questions to Carlee McCullough, Esq., at 777 South Main St., Suite 202, Memphis, Tenn., or e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. .)

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