Premier Tax Solutions

04/15/2025

🔈 April 15th is NOT the last day to file your taxes!

April 15th is the traditional deadline to file or request an extension, it’s not the final day you can actually file your tax return.

Here’s what you need to know:
•Filed an extension? You have until October 15th to file your return.
•Owed taxes? You still needed to pay by April 15th to avoid penalties and interest.
•Expecting a refund? You technically have up to 3 years to file and still claim it.

So don’t panic — you still have options!

Need help getting caught up? Let’s talk and get you back on track.

01/04/2025

To our clients and potential clients:

Please keep in mind that having a W-2 often results in a higher tax refund.

We understand the appeal of being self-employed, and that’s great! However, if you have W-2s, it’s best to wait until you’ve received them before filing your taxes to ensure you maximize your refund.

Thank you for your patience and cooperation!

01/02/2025

📌Tax Tip Thursday

Don’t rush to file your taxes early and forget you have other documents you should be filing as well. Leaving out documents could result in a refund DELAY or could even trigger an audit!

Remember, every document you receive, the IRS also receives!

So if you don’t file it, THEY KNOW!

Advanced loans up to $7,000 start today💰

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12/12/2024

Did you know college students may automatically qualify for a $1,000 tax credit? Don’t miss out on this opportunity💰📚

12/12/2024

Filing your tax return is essential for several reasons:
💰If tax was withheld from your paycheck or you qualify for tax credits, filing is the ONLY way to get your refund!
💰Filing allows you to claim valuable credits, such as the Earned Income Tax Credit or the Child Tax Credit, which can reduce your tax bill or increase your refund!
💰If you owe taxes, not filing by the deadline can result in penalties and interest, making your tax debt more expensive over time!
💰A filed tax return is often required for major financial transactions like applying for loans, buying a house, or financial aid!
💰Filing early reduces the chance of someone fraudulently using your Social Security number to file a false return!

Filing your tax return on time keeps you financially organized and maximizes your opportunities to save money! Make sure you file your TAXES💙
Premier Tax Solutions

12/07/2024

🚨 Attention All Self-Employed Business Owners! 🚨

Starting January 2nd, I’m here to handle all your tax preparation needs! But before we get started, it’s essential to have your documents ready!

Why prepare early?
The IRS is stepping up enforcement on Schedule C filings, and they aren’t cutting corners. Filing a Schedule C comes with a higher risk of audits, so your documentation must be accurate and thorough. If anything looks questionable, the IRS could flag it for review or audit.

Keep in mind, the IRS relies on you to prove your income and expenses. Unlike W-2 filings where employers report directly, Schedule C filers need solid evidence to back up every claim. It’s not enough to say you earned $30,000—you need the documentation to prove it.

🛑 No Proof, No Filing.
I can’t and won’t file for you without legitimate documentation of your business. Filing without proper proof isn’t worth the risk—for you or for me. If your paperwork isn’t in order, now is the time to get organized!

Let’s make this tax season stress-free and compliant. Contact us today! Let’s get ready to file come January 2nd.

4291 American Way
901.626.6998

11/06/2024

💡Tax Tip: Understanding Tax Refund vs. Tax Liability

It’s easy to mix up “tax refund” and “tax liability,” but knowing the difference can help you understand your tax situation more clearly.

📌Tax Liability: This is the total amount of tax you owe to the government based on your income, deductions, and credits for the year. Your tax liability is calculated when you file your return. If your total tax liability is higher than what’s been withheld from your paychecks or paid in estimated taxes, you’ll owe additional taxes.

📌Tax Refund: If you’ve paid more in taxes (through paycheck withholding or estimated payments) than your actual tax liability, you’ll receive a tax refund. This is simply the government returning the excess amount you paid.

🌟So, while tax liability is the amount you owe, your tax refund is the amount returned to you if you’ve overpaid. Think of it like settling a bill: if you’ve paid too much in advance, you get a refund; if you’ve paid too little, you’ll need to pay the balance.

Need help with tax planning? Premier Tax Solutions is here for you year-roundlight!

07/02/2024

🛑Now's the time to look at all your software options for the upcoming tax season. Especially if you're unsatisfied with your current setup with the outrageous fees and you’re looking to improve your profitability.

Premier Tax Software is a low-price tax software and comes with handy features for TY24:

Easy-to-use software and a support team who actually cares!

📌Premier Tax Software is made for ALL experience levels!
📌Plus, if you need a hand, we're ALWAYS a phone call away!

📌EFIN holders theres absolutely NO split! You receive 100% of your tax preparation fees!
📌PTIN holders we have options for you as well!

I'm just a phone call away! Contact me at 901-584-6562 if you'd like to discuss options.

02/09/2024

Good morning,

Just like every other year, Taxpayers with dependents are under the PATH ACT! Taxpayers with dependents should not expect to see movement on “Where’s My Refund” until this ACT is lifted!

🚨 We now have approximately 6 more days until the PATH ACT is lifted!

❓What does this mean for you❓

Refunds with EARNED INCOME TAX CREDIT (EITC) and ADDITIONAL CHILD TAX CREDIT (ACTC) holds will begin to be released and refund dates will begin to roll out!

The IRS expects most EITC/ACTC related refunds to be available in taxpayers bank accounts by February 27, 2024 for early filers.

02/08/2024

👉🏼Please make sure you have all your tax documents before you file. Here are some of the forms you may need.

-W2 (wages)
-1099 (self employment)
- 1099-G (unemployment)
-1099 ( INT- DIV-B,or K1 s from investments or interest income)
- Rental property income
-1098 ( mortgage interest)
-1095- A (health insurance)
- Child daycare expenses
-1098-T (Tuition Statement)

If you trade stocks, crypto, or are self-employed, some of your tax forms won’t arrive until February. If you forget to include a tax form when you file, then this could delay your refund or cause problem with the IRS.

📞 (901) 584-6562

01/03/2024

W-2 employees PLEASE, PLEASE wait on your W-2 in order file an accurate return🚨

If you’ve worked multiple jobs please wait on ALL your W-2’s🚨

Refund advances will be available all the way up until March!

I know funds may be low, and bills are steady rolling in BUT for us to better serve you it’s a must that we have all proper documentation when filing your tax return!

Let’s do it right the first time to prevent having to later amend your tax return!