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It’s officially Black History Month, which means we need to stay woke when it comes to owning businesses and all things taxes. Insert Ms Cat Mitchell, who turned her tax expert business into a six-figure income, eventually launching a generational wealth conference called Woke Money Conference. 

The tax professional and business-savvy woman has dedicated her life to financial literacy, spearheading a movement called Woke Money movement to help spread economic knowledge to the BIPOC community.

But things didn’t always come easy for Ms Cat. She had to WORK her way to the tap and when she got there, she was able to see the bigger picture: education for the masses.

Sheen spoke with Ms Cat about all things taxes and surviving financially below.

 

What is the hardest thing about running a professional tax business? 

Running a tax business can present certain challenges, and one of the toughest is dealing with clients who are solely focused on getting the largest possible refund. While I understand that the priority for many people is to receive as much money back as possible, it’s important to me that my clients understand the implications of any actions that may be deemed fraudulent by the IRS. 

I always strive to educate my clients and help them understand the reasons why their refunds may be lower this year, or what they can do to legally maximize their taxes in the future. However, I also acknowledge that many people are living in a state of financial insecurity, and sometimes they may not be receptive to advice or guidance. Despite these difficulties, I remain committed to providing my clients with ethical and professional services. 

Have you circumstances such as being a woman or being a black business owner have held you back at certain times? How have you gotten over those hurdles? 

Being a woman and a person of color in business can come with unique challenges, but I believe that by creating my own opportunities, I have overcome these obstacles. Instead of feeling held back, I have taken the initiative to forge my own path and establish my own rules. 

Although I am aware that women, especially women of color, often have to work harder to succeed, I have taken this as motivation to work even harder and create something truly remarkable. I am proud to say that I have not had to punch a time clock in eight years, and I have built my business and structured my daily activities in a way that aligns with my values and priorities. I am grateful for the opportunities I have created for myself and am eager to continue to grow and succeed on my own terms. 

Would you consider the “Woke Money” movement to be an integral part of society? 

The Woke Money movement helps to raise awareness about the power of financial decision-making and how it can be used to create a more equitable and sustainable world. It encourages individuals to consider the social and environmental impact of their investments and to prioritize their values over short-term financial gains.

Overall, The Woke Money movement plays a crucial role in society by enabling individuals to harness their financial influence to achieve a fairer and more sustainable world. 

 Where do you find your motivation to keep going when things get tough? 

I attribute my strength and resilience to my faith in God. As a single parent of two young girls, I strive to be a shining example of what is possible. I want my daughters to see me as proof that, regardless of race or gender, they can achieve anything they set their minds to. I am committed to being the best parent and role model. 

Economic literacy has been vital throughout history whether it’s trading bread or trading stocks. Do you feel it has become much more important in recent times? Why or why not? 

Economic literacy is a fundamental aspect of personal growth and development. Having a basic understanding of economic concepts and principles can provide individuals with a greater sense of financial literacy and empowerment. Whether or not someone chooses to apply this knowledge in their daily life, being informed in this area can only be beneficial. 

We see you are attending Houston due to its low income equality rate. Are there any other specific locations you would like to see? 

As a resident of Houston, I have chosen to begin my efforts here. My goal is to bring about positive change in my community and then expand my efforts to other areas where I can make a difference. The ultimate aim is to bring the movement from city to city and state to state, making a positive impact wherever it is needed. 

Are these financial lessons, teachings that you bring home and hope to pass along to your children? 

As my children mature, I am instilling in them the foundational principles that are not typically taught in school. This includes the importance of establishing and maintaining good credit, paying bills in a timely manner, and managing a bank account. As they grow and develop, I will continue to expand their understanding and knowledge in these areas. 

Do you feel that you still have growth to do personally? 

As a young Black woman, I am continuously working towards personal advancement. Even though I have reached a six-figure earning, I am motivated to push beyond my current financial bracket. At times, I may not make the wisest decisions, but I recognize that this is part of the learning and growth process. The key is to never stop developing and seeking knowledge and to also help lift up those who may be facing challenges.