Accounting is so much more than taxes.You can work in specialties like audit, forensics, information systems, and more. And don’t get us started on all the different industries you can find roles in. At its core, managing taxes is still an important role within accounting and deserves its own spotlight.
Taxes are interwoven into our lives and tell a story about each of us — how much money you make, what your relationship status is, where you live, and what you own. Answers that might be simple dropdown questions or fill in the blanks have much larger journeys attached to them that span months or years. Deeply personal journeys.
So, you see, accountants aren’t just the “money” people. They spend their time listening to clients share some of their most personal experiences and dreams, which requires accountants to be advocates, consultants, and confidants. This is particularly true for accountants who help LGBTQ community members navigate tax code and other unique financial differences in their present and future financial landscapes.
In 2015, the U.S. Supreme Court made history by legalizing same-sex marriage, opening the door for LGBTQ people to change the way they manage their finances. With the right to marry came access to standard spousal benefits, such as social security, pensions, and retirement, as well as eligibility to file taxes jointly and avoid certain tax burdens.
Beyond this, there are many other costs that those within the LGBTQ community consider as a part of their taxes and financial planning. Some examples include family planning costs for IVF or adoption and retirement to more progressive communities that may have higher costs of living. These needs vary based on different intersecting identities that create a unique combination of priorities.
Many accountants — either through volunteering in their spare time or working at specialized firms — use their skills to address these distinct considerations. They find policies and codes that can be applied, advocate for equal enforcement of financial rights, mitigate any economic differences LGBTQ clients might face, and build budgets that represent their particular needs. Ranard C., a consulting manager, uses his accounting background to provide personal and financial support for major LGBTQ non-profits addressing rights related issues, developing creative artists, and providing health and wellness support for the most vulnerable populations in our community.
It’s important to bring your authentic self to work. Unique financial situations like the above reinforces why. Accounting is a career where you’re encouraged to bring these parts of you because firms know it makes you a stronger professional. Sharing the parts that make you, you, is how client connections are created and trust is established, so that you can dive into personal topics like finances. Whether you identify as LGBTQ or not, there’s space for you to show up as an ally and be a changemaker. Ready for a career where you can bring your passion for making an impact and improving equity to your work every day?
