The Internal Revenue System (IRS) does not ask for a tax filer’s race or ethnicity on tax forms, but that does not mean the tax system affects people of different races similarly. While racial and ethnic inequalities exist in nearly every system of society, when it comes to how Americans typically build wealth, the US federal income tax code may be helping to increase those disparities.
Over 40% of Black Americans make less than $30,000 annually, putting them at an income disadvantage if taxes are not filed correctly.
Preparing your taxes can be challenging, if not an arduous process. For several years, the IRS has advocated for an accessible filing system to make it easier for Americans to complete their taxes. However, with the adoption of new tax legislation in 2019, the tax filing process is destined to stay intricate, becoming a win for the tax preparation industry while keeping African Americans in a sunken tax place.
The Association of Black Tax professionals aims to help African Americans across the USA file their taxes with the help of professionals from the same community. The company provides taxpayers a platform to search and connect with tax and accounting professionals, whether in person or remotely, who not only resemble but share some of the same experiences.
Statistics have shown us that millions of United States taxpayers prepare and e-file their tax returns, increasing the risk of errors and the uncertainty of which tax deductions or tax credits to claim.
The Association of Black Tax Professionals envisioned a community to provide value and restore the trust of African Americans for tax preparation, accounting, tax planning, and/or tax debt resolution.
In conversation with Shonda Love, CEO/Founder, the Association of Black Tax Professionals (ABTP)
Q. Can you tell us why you started the Association of Black Tax Professionals? What role do you envision for the company to fill?
Shonda Love started the Association Of Black Tax Professionals in May 2019 to build a trusted platform to allow tax and accounting professionals to obtain resources, training, education, mentorship, and networking opportunities. With the ever-changing tax industry, it was imperative to create a space where tax professionals can receive accurate tax-related information.
Shonda envisions ABTP to be one of the most prominent African American associations serving taxpayers and educating tax professionals.
Q. What is unique about your services?
The unique thing about ABTP is that we launched a Nationwide Online Directory to allow taxpayers an opportunity to search and connect with tax professionals, CPAs, Enrolled Agents, Tax Attorneys and Tax Debt Resolution Specialists who they not only resemble but share some of the same experiences.
Q. Why do you feel the African Americans in the USA require tax professionals and lawyers from the same community to serve their needs?
I feel people generally desire to do business with others relatable to their culture.
Q. What role does innovation play in the way ABTP functions?
My Association is using innovation in all of our processes, and doing so saves us time and money. It gives us a competitive advantage over our competitors who are stuck in their system.
Q. How does ABTP solve problems for clients?
ABTP digital platforms allow all members to share their resources, knowledge, and information so we can be more efficient in meeting the demand of taxpayers with complex situations.
Q. What are the various services offered by ABTP?
ABTP offers CE Accredited Tax Training Courses, Mentorship, and Marketing.
Shed light on the coaching services offered by ABTP.
ABTP Master Tax Coaching Program is a five-week intense and passionate group session catered to business owners who desire to implement the necessary process and procedures for productivity to increase their bottom line.
Q. With regards to the future, where do you see ABTP in a couple of years from now?
In a few years, I envision ABTP being heavily involved in the education system, teaching financial literacy to high school and college students.
Leading innovative change in the world of taxes and management
Shonda Love, CEO and Founder of The Association of Black Tax Professionals (ABTP) established this Association in May 2019 to support tax and accounting professionals by providing resources, training, education and coaching that enable our members to succeed both personally and professionally. She started the ABTP Master Tax Coach Program along with founding members of this association who are committed to addressing the needs of black tax and accounting professionals across the United States. Through our various training, educational courses, conferences and events, we help ABTP facilitate career growth, skill-building, and access to professional networking opportunities. She graduated from Houston Community College with a Bachelor’s Degree in Legal Specialization and an Associate’s Degree in Business Marketing from University Of Phoenix. She obtained her Insurance Agency license and actively serves her community by bringing awareness to underserved areas about building Financial Wealth.
She has been committed and passionate about building a community where black owned tax firms can succeed.