Premier Business Solutions

Premier Business Solutions Helping elite business owners maximize profits and minimize liabilities. We are your trusted partner in success. She holds an M.B.A.

๐๐ซ๐ž๐ฆ๐ข๐ž๐ซ ๐๐ฎ๐ฌ๐ข๐ง๐ž๐ฌ๐ฌ ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ

We use our 20+ years of experience while working with elite business owners to determine how much we can save them in taxes vs how much they owe. Our goal is to make your business as profitable as possible while keeping your tax liability as low as allowed by law. Our firm is large enough to offer multiple ranges of professional services but small enough to give you the

individual attention that you deserve. We focus on planning for you, your family, your business, and your future. We continually stay on top of up-and-coming tax law changes to ensure you implement all strategies so your business can work for you while minimizing taxes and increasing profits.

๐€๐›๐จ๐ฎ๐ญ ๐˜๐จ๐ฎ๐ซ ๐‚๐…๐Ž


Wanda S. Watson, EA, a tax strategist, is the owner and founder of Premier Business Solutions, a tax planning, and accounting firm located in Chesapeake, VA and services clients throughout the U.S. Premier Business Solutionโ€™s flagship service consists of assisting elite entrepreneurs with saving thousands of dollars in taxes and increasing profits. They also provide services including IRS negotiations, tax preparation, and outsourced CFO services for businesses. Wanda is licensed with the Internal Revenue Service (IRS) as and Enrolled Agent (EA). in Accounting from Colorado Technical University and a B.S. in Accounting from Old Dominion University. Prior to establishing Premier Small Business Solutions, Wanda worked as senior staff accountant for a Virginia CPA Firm, a managing staff accountant for a Fortune 500 accounting firm as well as an Accounting Technician for the Armed Forces in Travel Disbursements, Paying and Collecting and the Commissary. Her passion is enabling the taxpayer to save on taxes while remaining compliant as well as assisting taxpayers who find themselves in the unfortunate situation of needing assistance mediating with the IRS.

07/16/2026

A Roth IRA is not just for adults with traditional jobs.

If your child earns legitimate compensation for actual work performed, they may qualify to contribute to a Roth IRA.

That means the opportunity to start building tax-free retirement savings YEARS earlier than most people.

In 2026, eligible individuals can contribute up to $7,500.

The key:
โœ” Legitimate work
โœ” Proper documentation
โœ” Correct tax reporting

Starting early can make a massive long-term difference because of compound growth.

Message us if you want to explore whether this strategy may apply to your family.

07/15/2026

Most people assume the Kiddie Tax automatically applies when paying a child.

But hereโ€™s what many miss:

If the payment is for legitimate services performed, the income may qualify as EARNED income โ€” not unearned income subject to Kiddie Tax rules.

That distinction can create substantial family tax savings when structured correctly.

And there may even be an IRA opportunity too.

Proper documentation and reporting are critical.

Message us if you want to explore whether this strategy fits your situation.

07/14/2026

๐Ÿ ๐Ÿ’ฐ Could your business pay you tax-free rent?

The Augusta Rule may allow business owners to rent their personal residence to their business for up to 14 days per year and receive the rental income tax-free, while the business claims a deduction for the expense.

This strategy can be beneficial for qualifying activities such as board meetings, employee training sessions, strategic planning retreats, and team appreciation events. However, proper documentation and fair market rental support are essential to ensure compliance.

As with any tax strategy, the details matter. Before implementing the Augusta Rule, consult with a qualified tax professional to determine whether it fits your specific situation.

Need help identifying tax-saving opportunities for your business? Contact Premier Business Solutions today.

07/08/2026

Most people report this tax strategy incorrectly.

A properly structured one-time payment to a college-aged child for legitimate services can create major family tax savings.

Always document legitimate services and work with a qualified tax professional.

06/25/2026

Most business owners miss this ๐Ÿ‘€
The Augusta Rule allows tax-free income when executed correctly.

โš ๏ธ Documentation and fair market rent are critical.
DM โ€œAUGUSTAโ€ to see if this works for your business.







๐Ÿšจ IRS Warning: Your Charitable Donation May NOT Be DeductibleDonating clothing or household goods to charity feels simpl...
06/24/2026

๐Ÿšจ IRS Warning: Your Charitable Donation May NOT Be Deductible

Donating clothing or household goods to charity feels simpleโ€”but the IRS has strict documentation rules that many taxpayers miss.

In a recent Tax Court case, a taxpayer lost a $6,760 deduction because the paperwork was incomplete.

Hereโ€™s what you need to know:

โœ” Donations over $250 require a written acknowledgment from the charity
โœ” Donations over $500 require detailed records of:
โ€ข What was donated
โ€ข When you acquired it
โ€ข Its original cost or basis
โœ” Form 8283 must be completed accurately

โš  โ€œMiscellaneous household itemsโ€ on a receipt is NOT enough.

Protect your deduction by:
๐Ÿ“ธ Taking photos of donated items
๐Ÿ“ Creating a detailed itemized list
๐Ÿ“‚ Keeping all supporting records with your tax files

The IRS doesnโ€™t deny deductions based on generosityโ€”it denies them based on documentation.

Need help making sure your deductions are audit-ready? Contact us today.

Address

Venture X 555 Belaire Avenue Suite 210, PMB1010
Chesapeake, VA
23320

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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