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Did You Know You Can Still Cut Your 2022 Corporate Taxable Income?
Do you know you can still cut your 2022 corporate taxable income? That's right, 2022 isn't completely in the rear-view mirror! Use Defined Benefit Plans to Your Advantage Defined Benefit Plans (DBP) are your tax-cutting secret weapon! Their high contribution limits...
🎅 Christmas in July! 🎉
Have you ever wondered what your business is truly worth? Palma Financial will unwrap the answer to this critical question this Christmas in July and present you with knowledge. As trusted advisors, we understand the importance of knowing the true value of your...
8 Key Factors for Determining Business Intent Vs. Hobby
Think of your hobby as a puzzle. To secure the pieces of the puzzle that allow you to deduct your losses, you need to demonstrate a profit motive. In other words, you must establish that your now-money-losing hobby is indeed a business for tax purposes. To minimize...
A New Wave in Philanthropy: Charitable LLCs & How You Can Benefit
Today, let's discover the Charitable Limited Liability Company (LLC), a unique structure that seamlessly blends business and philanthropy. Charitable LLC: A Game-Changer for Your Philanthropic Goals Flexibility and Control:Â With a Charitable LLC, you dictate the how...
You Have Been Pre-Approved!
We are excited to inform you that you have been pre-approved for a FREE tax assessment. (limited spots available until August 31 of 2023). Think about this... The US tax code is over 70,000 pages long… That's longer than the bible… Researching and applying these...
5 Reasons for Conducting a Mid-Year Review Now
Top 5 Reasons for Conducting a Mid-Year Review Now: Optimize Tax Planning: By conducting a mid-year review in July, you have ample time to strategize and make adjustments that can significantly impact your 2023 income taxes. Don't wait until the end of the year when...
The Student Debt Forgiveness: Tax Implications and the Importance of Proactive Financial Advice
Hi!, Here is the background: President Biden's plan to alleviate student debt faced legal obstacles 🚫, highlighting the complexity of forgiveness initiatives. A fresh plan targeted borrowers with 20 or 25 years of Income-Driven Repayment (IDR) payments 💡 The new plan...
Shocking Stats You Can’t Ignore: How AI is Reshaping Industries!
! At Palma Financial Services, we believe in embracing the future and staying at the forefront of innovation. As an accounting and tax firm, we recognize the immense potential of artificial intelligence (AI) and its transformative impact on various industries. In case...
10 Countries Where Taxes Don’t Eat Up Your Hard-Earned Money
! Are you tired of feeling like your hard-earned money is being eaten up by taxes? or Are you curious about where to rank and how much better you can do after taxes? We've compiled a list of countries where the average monthly salaries after tax are significantly...
Fed Up With Working For The IRS?
! Are you tired of toiling away for the IRS's benefit? In the United States, income taxes can substantially impact your financial well-being. Consider these eye-opening facts: Tax Burden:Â On average, Americans pay an effective tax rate of approximately 24.8%, meaning...