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Strategic Solutions Tax Preparation & Planning

Name: Strategic Solutions Tax Preparation & Planning
Address: Battleground Avenue, Greensboro, NC, 27401, US
Telephone: +13366241584
Price range: $

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Strategic Solutions Tax Preparation & Planning

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We are a tax preparation and planning business specializing in Self Employed, Small Business, Truck Transportation and Railroad employed tax returns.

With more than 20 years of experience we look forward to continuing to serve you.

09/18/2026

SCorp Part 2

Today we’re talking about compensation, your books and shareholder basis.

💵 Reasonable compensation remains non-negotiable
S-corp owners who perform services for the company should not take all profits as distributions. The IRS expects owner-employees to receive reasonable W-2 compensation before non-wage distributions are made.

Translation: wages should reflect the work actually performed, responsibilities, industry pay levels, time devoted to the company, and the business’s ability to pay.

Example: If an owner actively runs a profitable consulting company and takes a $25,000 W-2 while receiving $250,000 in distributions, that wage-versus-distribution split deserves a close review. The “tax savings” may become an employment-tax assessment, plus penalties and interest.

📊 Your books must support the K-1
An S-corp return is only as good as its bookkeeping. Before year-end, reconcile:
• Revenue and merchant-account deposits
• Payroll and payroll-tax liabilities
• Shareholder distributions
• Shareholder loans versus capital contributions
• Fixed assets, vehicle use, and depreciation
• Health-insurance treatment for owners owning more than 2%
• Accountable-plan reimbursements
• Business meals, travel, and home-office support
Clean books are not merely an accounting preference—they determine whether the K-1, shareholder basis, deductions, and distributions are reported correctly.

📌 Shareholder basis is a planning issue
A shareholder can generally deduct passed-through S-corp losses only to the extent of basis, subject to other limitations. Distributions can also create taxable gain when they exceed the shareholder’s stock basis.

That means tracking basis annually is essential—especially when there are losses, loans, multiple shareholders, prior distributions, or property transfers.

🔥People tend to get real quiet when it comes to taxes. Part of the silence and anxiety is because they have no idea what their preparer should be doing. If nobody else has told you this I will, you should be the first to know what’s going on with your taxes…not the last. Ignorance is not bliss…it’s ignorance and I hope you leave my posts knowing more than you did when you began the scroll.

Making the “bag” has become easier now more than ever…protecting and keeping it seems to be the issue….until now.💪🏽

Coach Trudi B. Parson Awarded Business & Tax Strategist | 4x Business Person of the Year | 2x Business Rate’s Business Development Support Choice https://bit.ly/TBPbizcard Trudibparson.com

*Accepting new clients

09/17/2026

As an awarded business and tax strategist, I see a lot of taxpayers miss their SCorp responsibilities and changes to consider for the approaching tax filing season. I hope my 3 part post for SCorps help with that.

S-corp tax planning is not just about filing on time—it is about coordinating payroll, shareholder reporting, entity-level elections, and the owner’s individual return.

Part 1 Deadlines👇🏽
🚨 S-Corp owners: your 2026 tax checklist starts now—not in March 2027.

If your business is taxed as an S corporation, the entity usually does not pay federal income tax itself. But the filing, payroll, K-1, and shareholder-level planning deadlines are real—and missing them can be expensive.

Here are the key items every S-corp filer should have on their radar for the 2026 tax year:
📅 Key due dates for calendar-year S corps
• March 15, 2027: File Form 1120-S and provide Schedule K-1s to shareholders. Because March 15, 2027 is a Monday, the regular deadline applies.
• March 15, 2027: File Form 7004 if more time is needed. A timely Form 7004 generally provides an automatic six-month extension to file the S-corp return.
• September 15, 2027: Extended due date for Form 1120-S, if Form 7004 was filed on time.
• January 31, 2027: Generally the deadline to furnish W-2s to employees and file applicable payroll reporting. For owner-employees, this is a major compliance date.
• Quarterly payroll tax filings: Form 941 is generally due April 30, July 31, November 1, 2026, and February 1, 2027, subject to weekend/holiday rules.

For fiscal-year S corps, Form 1120-S and shareholder K-1s are generally due on the 15th day of the third month after the tax year ends.

Follow for Part 2 on Friday.

The pic of the giraffe I took is just to take the edge off as we talk taxes.😂

Coach Trudi B. Parson Awarded Business & Tax Strategist | 4x Business Person of the Year | 2x Business Rate’s Business Development Support Choice https://bit.ly/TBPbizcard Trudibparson.com

03/13/2026

Don’t own a business? You still have control over your tax bill.

If you’re a W-2 employee, it’s easy to feel like your tax refund is just whatever the IRS decides to give back. But here are 5 specific ways you can lower what you owe in 2026:

1. Max out your 401(k)
The limit is increasing to $24,500. Every dollar you contribute lowers your taxable income right now. If your employer offers a match, that’s literally free money.

2. Take advantage of the new "above the line" deductions
For 2026, there are new deductions available even if you don’t itemize. If you worked overtime or have a car loan, you may qualify for deductions you didn’t have before.

3. Use an HSA as a stealth retirement account
If you have a high-deductible health plan, contribute to a Health Savings Account. For 2026, you can put away $4,400 (individual) tax-free, invest it, and never pay taxes on it if you use it for medical costs.

4. Sell losing investments
If you have stocks or crypto that are down, selling them can offset any gains you took this year. If your losses are bigger than your gains, you can deduct up to $3,000 from your regular salary.

5. Don't assume you should itemize
The standard deduction for 2026 is $16,100 for singles and $32,200 for couples. Run the numbers, sometimes the simplest option saves you the most.

You don't need a side hustle to keep more of your money. You just need a plan.

What’s one tax move you’re making this year?

Coach Trudi B. Parson | The Founder’s Architect
Awarded Business & Tax Strategist | 4x Business Person of the Year | 2x Business Rate’s Business Development Support Choice
Trudibparson.com

02/12/2026

⚠️ Your tax refund is at risk—and it has nothing to do with your math.

The IRS has quietly changed the rules, and thousands of people are now waiting weeks or months for money that should have arrived in days.

Here’s what’s happening—and how to make sure it doesn’t happen to you.

1️⃣ Your name has to match your bank account—exactly.
If you use a joint account and only one spouse’s name appears, or if you recently changed your name, the bank may reject your refund. The IRS then freezes it until you prove who you are. That takes weeks.

2️⃣ Some newer banks and apps quietly reject IRS deposits.
If you use a fintech app or online-only bank, check twice. Some of these accounts flag large government deposits as suspicious and send them back. The IRS does not try again. They freeze the refund.

3️⃣ One wrong number = a paper check in 6–10 weeks.
A typo in your routing or account number isn’t caught by the IRS. The bank simply rejects it. The IRS then locks the refund and eventually mails a paper check. No tracking. No quick fix.

What you can do right now:

✅ Log into your bank account. Confirm the exact name on the account.
✅ Use an account you’ve had for at least six months.
✅ If you’re unsure, call your bank and ask: “Do you accept ACH deposits from the IRS under this name and account number?”

The IRS sends a notice called CP53E if this happens. Do not ignore it. Respond immediately.

This isn’t a glitch—it’s the new normal. A few minutes of checking now can save you two months of waiting.

Stay safe out there. 💰

02/10/2026

This tax season there are so many changes and new opportunities. Did you know a new tool is here to give your kids a massive head start on wealth building?

The Working Families Tax Cuts created "Trump Accounts" – a new type of individual retirement account (IRA) specifically for children.

The game-changer? A government-contributed $1,000 pilot program deposit for eligible children!

👉🏽That’s right! The government will make the first $1,000 deposit into an IRA for your kid!!!

To qualify for the $1,000, a child must:
✅ Be born between Jan 1, 2025, and Dec 31, 2028.
✅ Be a U.S. citizen with a valid, work-eligible Social Security Number.
✅ Not have had the contribution made for them already.

This isn't a deduction from your refund, it's a direct contribution into your child's future. Think of it as a foundational seed for their financial independence.

You can choose to open the account during tax preparation or later by filing the appropriate form online.

Coach Trudi B. Parson
Awarded Business & Tax Strategist | 4x Business Person of the Year | 2x Business Rate’s Business Development Support Choice
Trudibparson.com

*Accepting new clients.

01/30/2026

📢 Tax Refund Timeline Alert: Important Info for EITC & ACTC Filers

If you’re expecting a refund this filing season, here’s what you need to know:

✅ Most taxpayers who e-file and use direct deposit will receive their refunds within 21 days, assuming no issues.

⏳ However, if you claim the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), your refund will be held until March at the earliest. The IRS cannot release these refunds before mid-February due to the PATH Act of 2015, which gives the IRS extra time to verify information and prevent fraud.

📅 For those affected:

· The earliest you should expect your refund in your account is March 2 (if you e-file with direct deposit and no other issues).
· You can check your refund status beginning February 21 using the IRS “Where’s My Refund?” tool.

💡 Why the delay? It’s a security measure designed to protect taxpayers and reduce improper refunds by allowing the IRS to validate income and identity details.

💰 Credit amounts for reference:

· EITC: Up to $649 (no children) to $8,046 (3+ children), based on income and dependents.
· Child Tax Credit: Up to $2,200 per qualifying child under 17, with up to $1,700 refundable as the Additional Child Tax Credit.

📌 Plan accordingly if you’re counting on these funds, and remember: filing early and accurately is still your best move!

*Accepting New Clients

Coach Trudi B. Parson
Awarded Business & Tax Strategist | 4x Business Person of the Year | 2x Business Rate’s Business Development Support Choice
Trudibparson.com
Book Here: https://www.vagaro.com/bffuca

01/27/2026

What Taxpayers Should Expect If There’s Another Government Shutdown…This Week

As shutdown conversations resurface, it’s important for taxpayers and business owners to understand what actually changes and what doesn’t.

🔹 Tax deadlines still apply.
A government shutdown does not pause IRS filing or payment deadlines. Penalties and interest can still accrue if you file or pay late.

🔹 IRS operations may slow.
Limited staffing often means longer wait times for customer service, delayed responses to correspondence, and slower processing for paper returns.

🔹 Refunds may vary.
Electronic filings and direct-deposit refunds for error-free returns generally continue. However, refunds requiring manual review or tied to paper filings may be delayed.

🔹 Backlogs can build quickly.
Even short shutdowns create ripple effects that impact processing timelines well into tax season.

What you can do now:
✔️ File electronically
✔️ Use direct deposit
✔️ File early to avoid avoidable delays

Bottom line: A shutdown doesn’t stop the tax system but it does strain it. Preparation and timing matter more than ever. File your accurate return ASAP!

01/26/2026

The IRS is now accepting 2025 tax returns. This is the first filing season reflecting changes from the One, Big, Beautiful Bill Act (OBBBA), signed into law last summer. Here are some of the biggest changes.

Coach Trudi B. Parson
Awarded Business & Tax Strategist | 4x Business Person of the Year | 2x Business Rate’s Business Development Support Choice
https://bit.ly/TBPbizcard
Trudibparson.com

*Accepting new clients.

01/22/2026

This is your warning to get ready. 👀

Address

Battleground Avenue
Greensboro, NC
27401

Opening Hours

Monday	9am - 4:30pm
Tuesday	9am - 4:30pm
Wednesday	9am - 4:30pm
Thursday	9am - 4:30pm
Friday	9am - 4:30pm
Saturday	10am - 2pm

Telephone

+13366241584

Website

https://www.vagaro.com/bffuca, http://trudibparson.com/

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