The owner and principal of Emerge Financial Group of California and Texas, Keith Towns provides generalized accounting services, financial analysis, and budget preparation. Keith Towns is also a member of the National Association of Black Accountants (NABA).Founded in 1959, NABA carries out a mission that focuses on enhancing opportunities in finance and accounting for African Americans. Toward this goal NABA offers its members résumé-writing and consultation services for several career stages. All packages include resumes in PDF and ASCII formats, cover letters, and thank-you templates.For entry-level members (students and new graduates), NABA creates résumés that emphasize course credits, internships, and basic competencies, geared toward the technological skills of a new generation.Established professionals with three to eight years’ experience can benefit from consultations on promotions to management positions. NABA creates more extensive résumés that highlight leadership skills for aspirants to upper management.Finally, NABA serves those seeking C-suite positions by collaborating with them on career progression, focused objectives, and executive branding.
An accomplished accountant with nearly three decades of experience in his field, Keith Towns serves as owner and principal of Emerge Financial Group, specializing in providing wealth management services as well as nonprofit and small business support. In an effort to stay abreast of current trends in his industry and build relationships with his fellow accountants, Keith Towns maintains membership in the National Society of Accountants. The National Society of Accountants (NSA) will hold its annual convention on August 23-25, 2018, at the Marriott Hotel City Center in Minneapolis, Minnesota. The meeting will feature keynote addresses from leading names in the industry and offers attendees the opportunity to earn continuing education credits as well as network with their peers in the field. The organization has secured a special block of rooms at a discounted rate of $159 per night, but the cut-off date for reserving the rooms for the special price is July 30, 2018. To learn more about the NSA convention and how to register, visit nsaannualmeeting.org.
Maintaining offices in Suisun City and Oakland, California, Keith Towns guides the Emerge Financial Group and emphasizes a client focused approach. Experienced in small business consulting, Keith Towns assists with various elements of operations, such as setting in place financial accounting policies and completing a timely month-end close.A monthly close involves an accurate recording and reconciliation of the full range of transactions that took place throughout the month. This provides information that can be compiled throughout the year in a way that generates financial statements that reflect the overall health and results of the company. Setting up an effective system starts by choosing a date that is consistent from month to month. Review all balance sheet changes and double check the cash amounts of transactions to make sure they match bank statements. Carefully assess accounts payable and receivable against invoices, and check debt balances against payments over the period being examined.With this accomplished, attention is turned to expenses, with a focus on ensuring that they are properly categorized. The primary categories include prepaid expenses, such as rent, material, legal, and overhead, as well as those tied to specific recorded sales. Additionally, there are benefits accruals and payroll to consider. Once these are in place, make adjustments through reconciling projected revenues with actual expenses accrued so that accounting entries balance.
An accounting graduate of California State University, Hayward, Keith Towns has led Emerge Financial Group, with offices in Suisun City and Oakland, California, for nearly 30 years. In his work, Keith Towns draws upon an extensive knowledge of changing state and federal tax laws.Accountants around the country are studying the new tax law passed by Congress and signed by President Donald Trump in 2017. One of the largest tax overhaul bills in recent history, the Tax Cut and Jobs Act of 2017 makes numerous changes to the U.S. tax code, with implications for almost every taxpayer in America.The most fundamental changes to the tax code include a change in tax brackets. While the previous brackets included tax rates ranging from 10 percent to 39.6 percent depending on income, the new brackets keep the lowest rate of 10 percent but reduce the highest bracket to 37 percent. Additionally, the income threshold for the top bracket has been increased from $480,051 to $600,001. This change means higher-income Americans can make about 25 percent more money before being taxed at the highest rate.The other major change that will affect most Americans are adjustments to the standard deduction and personal exemptions. While the standard deduction has been nearly doubled for both single and married filers, personal exemptions have been eliminated completely. Some analysts suggest that while single filers and married couples without children will benefit from these changes, the loss of personal exemptions will hurt families who rely on personal exemptions to lower their tax bill.
A veteran financial professional, Keith Towns brings nearly three decades of experience to his current position as the principal of Emerge Financial Group in Suisun City, California. An active member of the field, Keith Towns holds membership in professional organizations such as the National Society of Accountants and the National Association of Black Accountants (NABA).A nonprofit organization, NABA brings together more than 200,000 African-American accountants and other financial professionals to expand opportunities in accounting and related fields. The group offers a range of professional development, networking, and continuing education initiatives such as the Women of NABA Network and volunteer tax-preparation programs. Additionally, NABA supports students through its scholarship program.NABA has awarded more than $11 million in scholarships over the course of the program, which distributes approximately 50 awards each year. NABA offers three types of scholarships: NABA National Scholarships, valued at $1,500; Corporate Partner Scholarships, ranging from $1,000 to $5,000; and NABA Member Scholarships, from $1,000 to $3,000. To qualify for the scholarships, applicants must be African-American and be an NABA member in good standing. Additionally, applicants must be full-time undergraduate or graduate students at an accredited US college or university and meet minimum GPA criteria. To learn more about the NABA scholarships, please visit www.nabainc.org/scholarship.
For nearly two decades, Keith Towns has served as owner and principal of Emerge Financial Group, a tax and accounting firm based in Suisun City, California. In this role, he provides wealth management and other financial analysis in addition to accounting services for his clients. Active in his field, Keith Towns belongs to organizations such as the National Society of Accountants. The National Society of Accountants will hold a tax forum from July 10-12 at the Marriott Marquis in Atlanta, Georgia. The event will offer attendees an opportunity to learn about the newest changes to the US tax code and pick the brains of IRS officials who will be on hand to answer questions. Those who attend the forum will also have the chance to earn continuing education credits. In addition to these educational opportunities, the forum will be a chance to network with other professionals throughout the country and learn more about their accounting practices. To learn more about the conference, or to register, visit nsacct.org.
