Donald Hayden | Innovative Finance Leader & Strategic Partner for Business Growth

04 Dec 2024
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As the year draws to a close, it’s essential for S-Corporation (S-Corp) owners to refine their tax strategy and make informed decisions that minimize liabilities and optimize financial health. Year-end tax planning isn’t just about compliance; it’s about leveraging the unique tax advantages of your S-Corp to achieve long-term financial goals.

This guide outlines actionable steps, offers relevant statistics, and incorporates diverse perspectives to help S-Corp owners navigate year-end tax planning effectively.


29 Nov 2024
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Black Friday is one of the most anticipated shopping events of the year. Shoppers flock to online and brick-and-mortar stores looking for the best deals on electronics, clothing, home goods, and more. While the main focus for many consumers is finding significant discounts, it’s important not to overlook the potential tax implications of your Black Friday purchases. Whether you’re a small business owner capitalizing on the sales or an individual taking advantage of discounts, having a well-thought-out tax strategy for Black Friday shopping can help you avoid surprises down the road. Here are some tax tips to keep in mind during this year’s Black Friday sales.


27 Nov 2024
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Tax refunds are typically seen as a welcome financial relief for many Americans. On average, taxpayers receive a refund of approximately $3,200. This refund often comes as a result of excessive withholding, overpayment of estimated taxes, or eligibility for various tax credits. However, not everyone receives their full refund, as some may be subject to a tax refund offset. In this article, we will explore what tax refund offsets are, how they work, and what you can do to prevent or address them.


25 Nov 2024
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As tax regulations evolve and financial complexities deepen, the role of tax preparers has never been more critical. In 2025, with significant legislative shifts and expiring provisions from the Tax Cuts and Jobs Act (TCJA) on the horizon, taxpayers are turning to professionals for guidance. For businesses and individuals alike, engaging a tax preparer is no longer a convenience—it’s a necessity.

Private Tax Solutions has long emphasized the value of tailored tax preparation services, particularly in a climate of uncertainty. This article explores the role of tax preparers, backed by relevant statistics and diverse perspectives, shedding light on why professional tax preparation is indispensable in 2025.


15 Nov 2024
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The Financial Crimes Enforcement Network (FinCEN) recently introduced new Beneficial Ownership Information (BOI) filing requirements as part of its mission to combat financial crimes like money laundering and terrorism financing. These rules are pivotal in creating greater transparency in business ownership while ensuring compliance with federal anti-money laundering laws.

For businesses, navigating these requirements can be complex, making professional tax solutions critical for compliance. Whether you are a small business owner, corporate executive, or tax professional, understanding these regulations is essential to avoid penalties and safeguard your organization’s reputation.


13 Nov 2024
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Form 990-T is a specialized tax form used by tax-exempt organizations, such as nonprofits, religious institutions, and charities, to report any unrelated business taxable income (UBTI). While these organizations are exempt from federal income tax, they are still required to pay tax on income derived from activities not directly related to their exempt purpose. As such, preparing Form 990-T requires a nuanced understanding of what constitutes unrelated business income, applicable deductions, and compliance requirements.

In 2021, the IRS processed over 1.5 million returns for tax-exempt organizations, highlighting the importance of compliance in this sector. To simplify the process and avoid potential penalties, it is crucial to understand the structure of Form 990-T, the types of income it covers, and the strategies for accurately preparing it.