A Word: The Color of Money

Slate News

Slate Podcasts

News, News Commentary, Politics

4.6 • 6K Ratings

🗓️ 16 April 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The deadline for filing taxes this year is April 18th, and tax season brings on anxiety in lots of Americans. For Black folks, a lack of intergenerational wealth often means fewer contacts and networks that can offer guidance on taxes. On today’s episode of A Word, Jason Johnson is joined by Washington Post personal finance columnist Michelle Singletary to talk about some of the tax challenges that disproportionately affect the Black community, last minute filing tips, and how to plan now for a better tax time next year. Guest: Michelle Singletary, Washington Post personal finance columnist and author of “What To Do With Your Money When Crisis Hits: A Survival Guide.” Podcast production by Kristie Taiwo-Makanjuola You can skip all the ads in A Word by joining Slate Plus. Sign up now at slate.com/awordplus for $15 for your first three months. Make an impact this Earth Month by helping Macy’s on their mission to bring more parks to more people across the country. Go to macys.com/purpose to learn more. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is a word a podcast from Slate.
0:05.6	I'm your host, Jason Johnson.
0:07.5	Tax time leaves many Americans scrambling to make sense of their finances for black Americans,
0:12.5	tax season mistakes can lead to costly audits and feed the racial wealth gap.
0:16.8	So what's the best advice for last-minute filers and for a better tax plan next year?
0:21.6	Use this time.
0:22.6	Look at your tax return so that you're familiar with your finances because once you've become
0:28.0	familiar and you take control, you can
0:29.9	build wealth for yourself and your family.
0:32.7	Surviving tax season coming up on a word with me, Jason Johnson.
0:36.8	Stay with us.
0:44.8	Welcome to a word a podcast about race and politics and everything else.
0:48.0	I'm your host, Jason Johnson.
0:49.4	It's tax season and for many of us that means rifling through a shoebox or a junk drawer
0:54.6	for receipts, hoping to beat the deadline and not make major mistakes that could get us
0:59.2	audited.
1:00.2	For black folks, filing taxes can be more complicated, especially because many of us grew up without
1:05.8	the resources and connections that helped many Americans build a tax strategy that pays
1:10.4	off at this time of year.
1:11.9	But it's not too late to make a change.
1:14.9	Joining us to talk about is Michelle Singletary.
1:16.9	She's a personal finance columnist for the Washington Post and author of several books.
	...

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