By: Verdel Jones
When it comes to taxes, many Black entrepreneurs are trying to figure it all out on their own—and often in isolation. But according to Lorraine Millington, tax strategist and founder of Melanin Tax Solutions, there may be a better way.
“We don’t know what we don’t know,” she says. And that knowledge gap can sometimes lead to losing money, often without even realizing it.
Lorraine works directly with Black business owners to demystify the tax code and help them potentially maximize their benefits. “A lot of people hear how others pay less in taxes and wonder how,” she says. “In many cases, the difference comes down to understanding how to use the tax system strategically.”
That’s the key word: strategy. One of the most common challenges she sees is the widespread belief that simply forming an LLC or tracking a few deductions is enough. But without understanding what qualifies as a business expense or how to structure your business for growth, many entrepreneurs may unintentionally leave money on the table. Worse, they could set themselves up for IRS penalties and a stressful tax season.
Photo Courtesy: Dezirae B Multimedia
“Tax season isn’t just January through April,” Lorraine explains. “That’s the filing season. The real season? That’s Tax Strategy Season—and it starts now for those planning ahead.”
Her mission is to help entrepreneurs shift their mindset from surviving to scaling. That shift starts with understanding that tax strategy isn’t necessarily an added expense. When done effectively, it can serve as an investment in your business’s growth and stability.
“Saving money on taxes often means you’re keeping more of your profits,” she says. “That’s money you might use to reinvest, whether that means hiring staff, marketing your services, or planning for long-term legacy building.”
Many new business owners start out doing everything themselves—handling the marketing, the operations, and yes, even the taxes. But Lorraine suggests that the “DIY” approach might do more harm than good over time. “If you wouldn’t draft your own legal contracts,” she says, “why might you risk handling your taxes without a strategy?”
Her message is especially critical for first-generation entrepreneurs—those who are not just starting a business but creating a path that may not have existed in their families before.
“If you’re the first in your family to run a business, you’re not just building income,” she says. “You’re building a legacy. That often takes support, planning, and being in the room with people who understand how to help you grow.”
Photo Courtesy: Dezirae B Multimedia
For Lorraine, tax education is more than just crunching numbers—it’s a tool for empowerment. Her goal is to help more Black-owned businesses become educated, strategic, and successful, reducing the fear of tax season looming over them. With the right plan in place, taxes don’t have to be just a burden—they can become a way to build wealth.
“Too often we hear that making more money means paying more taxes, and that can discourage people from growing,” she says. “But with the right strategy, growing your income may unlock more opportunities. You don’t have to let fear hold you back from scaling.”
The bottom line? Tax strategy has the potential to be a game changer—and it might just be the missing link between surviving and thriving in business.
Are you ready to explore how to stop overpaying and start building wealth through smart tax strategies?
Visit www.melanintax.com to schedule a consultation.
Strategize Wealth. Minimize Taxes. Master Success.
Photo Courtesy: Lorraine Millington
Melanin Tax Solutions: Supporting your financial journey with strategic tax solutions for real estate investors and entrepreneurs.
Learn more at www.melanintax.com.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute professional tax, financial, or legal advice. The strategies discussed are based on the expertise of Lorraine Millington and her work with Black business owners. Individual results may vary, and readers are encouraged to consult with a certified tax professional or financial advisor to receive tailored guidance suited to their specific business needs. The article is not intended to address every tax-related situation and should not be relied upon as the sole resource for tax planning.
Published by Jeremy S.
