Financial Literacy is Health Equity

I recently read an article that said the black population is audited by the IRS more than the general population. I found that statement to be interesting, since I really think the issue is financial literacy in the black community. I filed my first 1040 at 19 years old. Lucky for me my guardian at the time, my Aunt, is an Accountant. Actually, 50% of my Aunt’s are Accountants. One is a Chartered Accountant from Jamaica, who is now a Tax Accountant in Canada. Another one is still an Accountant in Jamaica, and then there is me.

Apparently, I had genes for Accounting that I did not know about. I have always been good with money. I used to assist the 1st black female Entrepreneur I ever met, my Grandmother, by selling kalaloo with her in Three Miles-Waterhouse, Jamaica. We also raised rabbits, goats and chicken for consumption. I have been going to the bank since I was 6 or 7 years old. I had my own account, and went to the bank by myself. I would tell Grandma how much I would need, and return the bank book to her when I retuned from the bank.

In the black community, most people have no idea what a Form 1040 is, or a Schedule A, I was always dumbfounded. This is America, how does one not know the basics about the tax system or tax laws. I believe this is why we pay more taxes, and have run ins with the IRS. Full disclosure, I have a Masters in Accounting in Taxation-Government from Kaplan University Online, now Purdue Global University.

Many moons ago, I thought the answer to affecting change in health equity was health law. After attempting a Masters of Jurisprudence at Loyola University, and my law professor told me I would have to become a health law judge to achieve what I wanted to do, I started praying really hard. Luckily for me, Adonai’s answer was Accounting. Yes, that’s right, it’s Accounting knowledge. It turned out that the answer was, you had to be able to write the budget, that is, the appropriations, encumberances and expenditures. A high school student can write health policy, but health policy can’t be implemented without a budget, and a budgte justification.

Ultimately, I encourage everyone one to read Deduct Everything by Eva Rosenberg, and How to Pay Zero Taxes by Jeff Schnepper. Fundamentally, with decent Preventive Medicine care and these 2 books, a heart attack and a stroke can easily be averted, honestly.

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