A high percentage of lesbian, gay, bisexual, transgender, queer (LGBTQ+) youth are faced with many daily challenges, ranging from food insecurity to not having money for other basics like housing. Simply not having enough money is only part of the picture. Another importance piece is access to financial knowledge, skills, and resources.
Financial capability is possessing the knowledge on financial matters to confidently take effective action that best fulfills an individual’s personal, family and global community goals. When LGBTQ+ youth do not have the financial capabilities to carry out and sustain a manageable financial life, their priorities change and being financially sound no longer becomes a priority. Often, LGBTQ+ youth are faced with making decisions with a narrative that echoes whether or not they should go to a doctor’s visit or should they buy food. Priorities change, just as a flow of income can.
As tax season is in full swing, members of the MFierce Youth Advisory Board (YAB) expressed an interest in receiving assistance with filing their taxes. A graduate student research assistant, Peter Ceglarek, at the SexLab offered a training at the end of last month. Through his presentation and our conversations, he highlighted a few main takeaways:
1) Everyone’s tax situation is unique and that there is no single method that best works for everyone
2) Utilize free tax services is going to best benefit you, and
3) Learn how to do your own taxes further enables you to be your best advocate.
List of resources:
- Forbes: Beginner’s Guide to Filing Taxes, 2016
- Forbes: Tax Guide, 2016
- IRS: Do I need to file my taxes?
- IRS: Filing Taxes Resource Site
- IRS: freefile
- Paycor: Filing Taxes without W-2
- Turbo Tax: Free Tax Filing
- Wells Fargo: Quick Tax Guide