BSC accounting students save local families over $1 million

What began as a way to obtain real-world experience, quickly turned into eye-opening moments for Dr. Tracy Smith’s Accounting 341 class.

Dr. Smith, an accounting professor at Birmingham-Southern College, and her class of 25 students partnered with the SaveFirst Initiative in the 2019 spring semester to provide free tax preparation for low-income, working families in Birmingham. They prepared more than 2,500 tax returns, securing families over $4.2 million in tax refunds and saving them over $1 million in tax preparation fees.

Students were required to volunteer at least 15 hours of their time outside of class, where Dr. Smith hoped they would be able to apply the things they were learning in the classroom.

“Working with SaveFirst really brought the book to life. We would read about different concepts in class, but seeing them in real life and how they were able to affect people made such a big difference,” says senior Heather Tucker.

The SaveFirst Initiative is a program by Impact America, designed to ensure that low-income families receive the full earned income tax credit to which they are entitled and to encourage long-term financial planning.

After the tax preparation training both in class and through the program, students were qualified to meet with families one-on-one to help them properly complete their tax returns.

“The best part of working with the families was seeing their reaction when we showed them how much money they were getting back,” says senior Shakir Campbell. “Some struggling families would even cry from being so happy.”

For Tucker, the experience validated her career path, as it provided a personal connection to accounting.

“It confirms that there is a purpose in accounting – you really can help people,” says Tucker. “It has a purpose beyond money, and really makes you think about life in general and what is truly important.”

This is the first year of the partnership between BSC and SaveFirst, but will be one of many to come, according to Dr. Smith.

Senior Darmarea Burge was impressed by the significant dollar amount they saved local families.

“When I heard the number it really opened up my heart,” says Burge. “It looks small during the process, but at the end the evidence of the impact is huge.”

Tucker and Burge both have future opportunities to work with SaveFirst as it led to potential internships and jobs.

Dr. Smith takes pride in the work her students were able to accomplish in the community, as they “truly embraced the Birmingham-Southern spirit of making a difference.”

Learn more about SaveFirst’s work through Impact America on their website, and find out how to get involved in serving the Birmingham community.