Lydia C. Desnoyers Founder of DesCPA Business Advisory.
Today, we are speaking with Lydia Desnoyers Founder of DesCPA Business Advisory.
Lydia C. Desnoyers is the founder and owner of DesCPA Business Advisory – a Miami-based CPA Firm specializing in Business Advisory Services, Tax Preparation, and Strategies, and Forensic Accounting.
Prior to starting her practice in 2010, Ms. Desnoyers gained over six years of accounting and internal audit experience at Carnival Corp and PLC. In 2019, Ms. Desnoyers was recognized by Legacy Magazine as one of the top 40 under 40 professionals in an August issue of the Miami Herald. She was also recognized in Florida CPA Today Magazine’s March/April 2017 issue as one of the Horizon’s 19 Award Recipients in all of Florida.
Welcome to the Pandocap Show.
Q: Can you share a bit about your journey with our audience?
A: I started in a corporate job straight out of college. After 7 years, I realized I wasn’t growing. I always knew I was going to be in the business world but I didn’t think it would happen so soon. I had always prepared myself for the next challenge and I started looking for another corporate job. Then an opportunity presented itself. I was doing taxes on the side and someone approached me about selling me their tax practice and client list. At the age of 27, it was simultaneously the scariest and most liberating moment of my life. I went into my boss’s office, gave my two weeks notice, and in 10 years, I never looked back.
Q: As a CPA in this current economic environment, what are some trends you are seeing or tips you have for others?
A: in Biden’s tax plan, there are fears that taxes will go up but actually they will revert to what they were before Trump took office. Rates will go up for people who make a certain amount: for example, individuals making over $400K. For a married couple, it would be for those making over $400K combined. Keep in mind, this is taxable income so your actual income could be more.
Once Biden takes office, I foresee a longer lead time of more than a year because the IRS will need to create new forms and train new staff. When considering long-term planning, I still think we need to pay attention to the specific details about how this will impact all taxpayers.
Q: What does resilience mean to you?
A: The biggest thing I see is that most challenges are self-inflicted. Instead of simply accepting business conditions as reality, you need to challenge why you consider these as reality set in stone instead of situations to be changed. Even though I thought it would be further in the future, when the opportunity for me to go full time as a CPA came much sooner, I was ready to take those steps because I was prepared. And that would be the biggest advice I give to others: Be prepared for what you want and do not be afraid to act on your opportunities.
Q: What’s next for you for the rest of the year and beyond?
A: In 2021, impending motherhood has liberated me to understand every decision I take is with my child in mind. On a professional level, I want to empower other female entrepreneurs to employ their business to live their best life and add value to their community. I will offer online courses and group coaching. I want to revolutionize the way women do business!
Thank you for joining us on Pandocap and we look forward to highlighting your success as an Influential Women.