Tim C. Lee's Biography
Tim C. Lee is the CEO and Founder of TCL Financial & Tax Services. He has been featured in Black Enterprise, Jackson Free Press, National Black Pages, OutFront, The Jackson Advocate, and many other articles, magazines, and newspapers. In addition to operating TCL Financial & Tax Services, Tim is a freelance writer, a licensed life insurance agent in the states of Louisiana, Mississippi, and Texas, a Personal Financial Coach, and the host of the "The TCL Show" that airs every Monday from 6:00 p.m. to 7:00 p.m. CST on WMPR 90.1 FM in Jackson, MS. He has also received numerous awards and certifications for his committed service in community involvement and economic development. Tim is the proud father of four beautiful daughters, Tekeydra, Jhazmhon, Krystal, and Kelly. In his spare time, he enjoys boating and jet skiing, cooking, listening to live bands, playing pool, reading, riding motorcycles, traveling, writing, and spending quality time with family and friends. Tim established TCL Financial & Tax Services on January 5, 2004. The business headquarters is based in Jackson, MS at 4700 Robinson Road Extension, Suite 400.
THE EARLY YEARS
Tim C. Lee was born on November 12, 1972 in Los Angeles, CA. At the age of 11, his mother got married and the new family moved to the state of Texas. While in Texas, Tim and his family resided in the cities of Duncanville, Fort Worth, and Oak Cliff. After only being married a short period of time, his mother and her new marriage begin to decline. As the relationship got worse, Tim's mother decided to divorce her husband and moved him and his three younger sisters to her birthplace home of Moreauville, LA in the hopes of starting a new life.
Eventually, at the age of 14, Tim and his family moved again from Moreauville, LA to the small town of Boyce, LA where he attended Northwood High School. Years later, Tim received his high school diploma in May of 1990.
While a senior in high school, Tim decided to enlist in the armed forces as a way to assist in financing his college education. He enlisted for eight years and received an honorable discharge from the military once his time served expired.
Tim initiated his college studies at Louisiana State University of Alexandria (LSUA) in Alexandria, LA, majoring in English and Mathematics Education. Years later, he was forced to withdraw from the university due to failing grades and being repeatedly placed on academic probation.
At this point, Tim decided to pursue a different career path in a longtime hobby of his and enrolled at Alexandria Academy of Beauty in Alexandria, LA where he studied to become a licensed barber.
After successfully completing all necessary hours and graduating from Alexandria Academy of Beauty, Tim realized that being a barber was no longer a desired passion of his and decided to seek a different type of profession.
Tim found a new career passion and decided to work in the retail sales industry. He worked for several well known companies. Tim eventually was recruited as a General Sales Manager with a growing and prosperous retail chain. He was good at managing and selling. Tim was even promoted numerous times within the company; including getting transferred to other locations and positions in neighboring states. The final promotion for Tim with the company was in 1998 when he was reassigned to Jackson, MS. Tim worked very hard and tirelessly in his new retail store in Jackson. Unfortunately, after being in Jackson, MS only a year, the company filed bankruptcy and all stores nationwide were being closed. The gruesome news was told to Tim by a gentleman sent by the company as he was opening his store one morning. Needless to say, Tim was forced to be unemployed in unfamiliar territory.
With no job, Tim decided to aim again for his original goal of becoming a teacher. In 1999, at the age of 27, Tim transferred the few hours he had accumulated from LSUA in his post high school days and enrolled at Jackson State University (JSU) in Jackson, MS, where he was determined to receive a degree in English and Mathematics Education.
While attending JSU, Tim maintained above a 3.00 grade point average; as well as being honored to be on the Dean's List. He was also given an academic scholarship to help offset the high cost of attending college.
In 2001, while enrolled at JSU, Tim had taken all necessary courses to graduate. The final requirement left to complete was for him to pass the National Teachers' Examination. After attempting to pass it twice, and failing the examination both times, Tim decided to take some time to mentally prepare himself for the next scheduled testing date.
With the next testing date months away, Tim wondered what he was going to do to occupy his spare time since he was no longer attending college classes. By this time, Tim had acquired a new full-time job, but he was accustomed to focusing on school and work simultaneously.
One evening, while at home relaxing and reading the newspaper, Tim noticed an advertisement about a class being offered to learn the Fundamentals of the Income Tax. Although he had no experience preparing income tax returns, he knew he had a fondness for math, numbers, and using the calculator. Immediately, Tim signed up for the course; which would ultimately change his career path entirely.
THE FUNDAMENTALS OF THE INCOME TAX
While enrolled in the Income Tax Course, Tim knew this would be a profession that he would grow a strong devotion and passion for. There were so many different income tax laws that he was not aware of. Tim would leave class and could not wait to tell co-workers, friends, and relatives of all the different adjustments, credits, and deductions tax preparers had overlooked on his and possibly their previous income tax returns.
Tim studied day and night about Income Tax Law. He would purchase extra material, log onto the Internal Revenue Service's (IRS) website for research, and would even call the IRS directly to learn additional information to enhance his knowledge of Income Tax Law.
"The Income Tax," which Albert Einstein proclaimed to be the hardest thing in the world to understand. Tim could not comprehend Einstein's phrase initially, but as time surpassed, he realized that Income Tax Law was not elementary. He recognized that to be successful at it, that it would require a lot of analyzing, researching, studying, and self-motivation.
THE TAX ADVISOR
With only weeks left to complete the Income Tax Course, Tim became very confident about passing the course. When the class originally began, the classroom was full of students, but as the class progressed, students began to withdraw from the course. A lot of students complained that "Income Tax Law" was too difficult and stressful to comprehend.
On the day of the final exam, Tim's instructor asked him what his plans were once he completed the Income Tax Course. Until then, Tim had not given the idea much thought of how he was going to use his new skill that he had learned. The instructor mentioned to Tim that she had been noticing his work in class and was very impressed with him. She further explained that she wanted to recommend him for a job interview with one of the most highly respected tax preparation companies in the country. Tim gladly thanked her for the endorsement, attended the interview, and was hired instantly.
After graduating from the course, Tim went to work part-time for the company while also focusing on retaking the National Teachers' Examination to earn his Bachelor of Science degree in Education from JSU.
Working for this company enhanced Tim's abilities as a Tax Advisor and allowed him to work hands on with actual clients. In time, Tim had gained the clientele and respect from his colleagues that was supported by the work he was performing. He prepared each client's tax return in the same manner as he would prepare his own.
FOLLOWING A DREAM
Watching his clientele grow and the desire to become an entrepreneur, Tim decided to resign from the company and create a home-based business using the spare bedroom in his apartment.
Unlike many entrepreneurs that decide to open up their own business, Tim knew the risk of failure and decided to crawl before he walked; which is one reason he decided to start his dream from home first. Tim named his home-based business, TCL Tax Advice & Services.
Even though Tim was preparing tax returns from a spare bedroom in his apartment, each client still received exceptional customer service. Tim made sure that no client had the impression that because they were dealing with a home-based business instead of a commercial location, that he was not as committed and professional.
DREAMS BECOME REALITY
With his clientele growing rapidly, it was time for Tim to transfer his home-based business of TCL Tax Advice & Services to a commercial building location.
Tim knew that according to statistics, 50% of businesses fail in the first year and 95% fail within the first five years. Those type of numbers had him terrified in the beginning. Tim knew that with hard work and proper business guidance, he would beat those odds.
With $5,000 of his own money, a $5,000 loan from the Small Business Administration (SBA), a $5,000 loan from his mother, Ms. Joan Sergent, and plenty of advice and guidance, Tim was on a mission to open his first commercial location. Some of that advice and guidance came from, Dwayne Perkins, Loan Specialist at Central MS Planning & Development District in Jackson, MS, Larry Ward, Business Counselor at Jackson State University Small Business Development Center in Jackson, MS, and Meredith Coleman McGee, Owner of Typing Solutions Resumes & Etc. in Jackson, MS.
After searching for months for the ideal location, Tim finally found a building in August of 2003 in Jackson, MS. Tim had until December of the same year to turn the property into what he would eventually call, TCL Financial & Tax Services.
The month of December was a very fortunate period for Tim. He was able to pass the National Teachers' Examination to graduate from Jackson State University. You calculated correctly! Tim did not complete all necessary college studies to obtain his Bachelor of Science degree until he reached the age of 31 years old. A true testament that it is never too late and you are never too old to make your dreams come true and achieve goals.
In December of 2003, Tim was also able to pass the IRS suitability check to become an "Authorized IRS e-file Provider."
With a little less than $100 left in his bank account (basically broke), Tim officially opened the first location of TCL Financial & Tax Services on January 5, 2004 at 3030 Terry Road, Suite A, in Jackson, MS...just in time for the 2003 Tax Season.
TIME FOR EXPANSION
In less than two years, because of the awesome growth of the company's clientele, Tim decided to open a second location on December 5, 2005 at 1022 East Peace Street in Canton, MS...just in time for the 2005 Tax Season.
With TCL Financial & Tax Services clientele still reaching unpredictable numbers; which was totally not projected, Tim was able to open a third business location on September 11, 2006 at 4700 Robinson Road Extension, Suite 400, in Jackson, MS...just in time for the 2006 Tax Season. This premier, state-of-the-art office became, and still is, the headquarters for TCL Financial & Tax Services.
Wow! You calculated correctly again! Tim opened up three business locations in less than three years. That is amazing!
Tim C. Lee's ambition for TCL Financial & Tax Services is to continue to open additional business locations nationwide, and to offer more to the public than just tax preparation services.
The goal set forth for TCL Financial & Tax Services is to become a company that offers a wide range of financial services and support to individuals and businesses.
TCL Financial & Tax Services ultimate objective is to become the leader in the industry when it relates to financial and tax preparation services for individuals and businesses nationwide.