Today we’d like to introduce you to Ambrea’ Lacy. They and their team shared their story with us below:
Ambrea’ M. Lacy reigns from Henderson, Texas, a small town in East Texas, and currently resides in Dallas, Texas. She is the only child to Myrtle and Maurice Lacy and has one daughter, Arraya. She is an upstanding member of Alpha Kappa Alpha Sorority, Inc., in which she has contributed years of service and actively continues to support members of the community.
Her very first business was a mobile tax preparation business in 2009. Her father invested in a tax course, laptop, and printer, which was intended to be a side hustle and later flourished to a thriving 7 figure tax firm. She received her bachelor’s in administration with a focus in Management from the University of Texas at Arlington in 2010. She then continued her education at Texas Woman’s University to receive her master’s in business administration in 2012 while operating a credit repair business. In 2015, Ambrea’ decided she wanted to turn her side hustle into a business and founded iTax Solutions, offering individual and business tax preparation services. In 2019, iTax Institute was founded on the basis of training entrepreneurs all over the United States to start and grow a successful tax preparation firm. At the Tax Accounting Summit in 2021, Ambrea’ was recognized for generating over $1M in revenue within 12 months. To date, iTax Institute has helped over 400 successful entrepreneurs. Ambrea’ continues to have a thriving tax preparation business as well as iTax Institute, where she hosts virtual business training courses and one-on-one business coaching sessions. Ambrea’ truly has a passion for uplifting and empowering entrepreneurs and educating the community on financial literacy. Ambrea’’s philanthropic acts further amplify her impact as she actively gives back to the community and supports causes close to her heart. Her passion for travel, connection, and personal growth fuels her journey as an entrepreneur. As she explores new horizons, embraces diverse cultures, and builds meaningful relationships with other entrepreneurs, she leaves an indelible mark in the financial industry.
Ambrea’ M. Lacy, a passionate serial entrepreneur, is dedicated to empowering others and fostering business success. With a thriving tax preparation business, iTax Solutions, and her impactful training courses at iTax Institute, Ambrea’ has mentored over 400 entrepreneurs to achieve greatness. An advocate for community service financial literacy and an active member of Alpha Kappa Alpha Sorority Inc., Ambrea’ embraces the power of networking and explores diverse cultures through her love for travel. Fearless, astute, and tenacious, she embodies excellence in both life and business, leaving a mark in the financial industry.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall, and if not, what were the challenges you’ve had to overcome?
No, it has not been a smooth road, which I think any entrepreneur would agree but I appreciate the struggles, hurdles, and obstacles because they made me stronger and prepared me to basically be ready for anything. Over a decade ago, the tax industry was basically a male-dominated industry. There were not a lot of women trailblazers. That fuels me to make my mark and be successful in the industry. One of the obstacles is preparing taxes during tax season.
It’s a seasonal but incredibly demanding period. You find yourself away from your family and home life as the workload becomes intense in a short amount of time. As a single mom, I’ve had to make sacrifices in terms of spending time with my daughter during this tax season crunch.
In the beginning, adjusting to tax laws, doing a lot of reading, and handling tax information that was overwhelming, the language being somewhat hard to understand – including credit law, deductions, and regulations – and understanding the importance of keeping the business in compliance were all part of the journey.
Alright, so let’s switch gears a bit and talk business. What should we know?
At iTax Solutions, I understand the importance of personalized service and attention to detail. I am committed to delivering top-notch services that cater to your specific needs. iTax Solutions is a one-stop solution for all your tax and financial needs.
I pride myself on my unparalleled expertise in the field of financial management. With years of industry experience, I bring the best practices to the table and provide personalized guidance for each client. I also pride myself on educating my clients about finances, generational wealth, and asset protection.
With my deep understanding of tax laws and regulations, I expertly handle any tax situation.
iTax Solutions services include Business Formation, Individual and Business Tax Preparation, Tax Planning, Bookkeeping and Payroll, Insurance, Tax Debt Resolution and Trusts.
For iTax Institute, I turn side hustles or hobbies into a properly structured, income-producing business with my structured courses, coaching calls, 1:1 strategy sessions, and tons of valuable resources.
I have helped 450+ successful entrepreneurs. When itax Institute I started, it focused on helping entrepreneurs start and grow a successful tax firm. It has now evolved into helping entrepreneurs scale their businesses in any industry.
I pride myself in contributing to the success of multiple entrepreneurs, quitting their corporate jobs and owning 6-figure businesses.
If we knew you growing up, how would we have described you?
I was an only child and spent a lot of time with my father. I was basically a tomboy back then, not as girly as I am now. I enjoyed activities like fishing and riding 4-wheelers. We were always building things, working with our hands.
In school, I took on leadership roles and participated in activities like choir and student council, which I truly enjoyed. I was also part of the school band. Math class was my favorite; it always came easily to me. On the flip side, I wasn’t a fan of geography. Growing up, I had a lot of friends, and I liked going to the movies.
When I reached high school, I got involved in the dance team. I served as the president of the student council and as a class secretary. However, I wasn’t particularly athletic, so I never played any sports.
Then came college, and I had no idea what I wanted to study. At the age of 18, I became a mother. Despite the challenges, I pursued my education, earning an associate degree two years later, followed by a bachelor’s degree another two years after that. Then, I went on to earn my master’s degree. My path wasn’t always clear.
During my pursuit of a bachelor’s degree, I gained some retail experience, including working at Victoria’s Secret. One Christmas season, I hit a low point and called my dad, considering quitting. That moment was a turning point for me. It was then that I decided I wanted to have my own business and follow the path of entrepreneurship.
I discussed my aspirations with my dad, and I ventured into the world of entrepreneurship with a mobile tax preparation business. Since then, I’ve expanded into multiple businesses alongside my tax preparation venture and have had the privilege of helping other entrepreneurs achieve their goals.
Contact Info:
- Website: https://www.itaxsolutions.us/ and https://www.itaxinstitute.com/
- Instagram: https://www.instagram.com/ambrealacy/
- Facebook: https://www.facebook.com/ambrea.lacy
- Linkedin: https://www.linkedin.com/in/ambrealacy/
- Youtube: https://www.youtube.com/@ambrealacy
- Other: https://www.tiktok.com/@ambrealacy
Image Credits
Alex J. Martin Photography
