Blog
🎉A Win-Win Solution: Tax-Free Education Benefits for Your Child-Employees 🎓
As a business owner, did you know that you can provide your child employees with tax-free education benefits and gain tax deductions for your business? 🤔💼💰 That's right! 💯 Offering education fringe benefits can help your child get the education they need to do the job...
🎲💰 Don’t Gamble with Your Finances – 🚫🤔 Avoid the Quick Question!
In today's fast-paced world, seeking quick answers to complex financial questions is important. 💸 However, relying on advice from a CPA who is not formally engaged can be risky. At Palma Financial Services, we want to ensure you receive the most accurate and reliable...
🤑 Cha-Ching! Stop the Receipt Madness – Streamline Your Business Expenses with the $75 Rule.
Are you tired of sifting through piles of receipts to document your business expenses? There's good news! You can avoid the hassle of keeping receipts for some expenses with the $75 Rule for Business Expenses. 💸 Under the $75 Rule, you don't need to keep receipts for...
💰🧠Do You Know Your Stuff? Test Your Tax IQ with Our Quirky Income Tax Quiz! 🧠💰
Now that income tax season is over for some taxpayers, let's see how much you know about individual income taxes in the US. Take our fun and a quirky quiz to test your tax IQ! 🤓💰💡 Which of the following taxes provides the highest percentage of federal revenue in 2022?...
Stay Ahead of the Trends 📈 – Small Business Concerns in 2023
As a small business owner, staying ahead of your business's trends and challenges is crucial to your success. Since the second quarter of 2023 is beginning, it's important to review the top concerns facing small businesses to stay informed and prepared for the...
🚫🚗💸 Don’t Buy an Electric Car Without Reading This First!
Are you thinking about purchasing an electric car? With the electric vehicle (EV) market growing rapidly, it's an exciting time to consider a greener, more sustainable way of driving! 💚 However, before you take the leap and make a purchase, there are a few things you...
💔Divorce and Taxes: A Match Made in…IRS Heaven?💸
💔Going through a divorce is tough enough, but it's important to consider the financial implications, including the tax treatment of child support payments and alimony. Here's what you need to know: 💰 Alimony Payments Alimony payments were tax-deductible for the payer...
💸🚨 IRS Unveils $80 Billion Strategic Plan: What Business Owners Need to Know 💼📈
🚨 Attention all business owners and high-net-worth individuals! 💼 The IRS has just unveiled an $80 billion strategic plan to close the "tax gap" and increase revenue. Here's what you need to know to stay ahead of the game: 💰 Increased audits for wealthy taxpayers: The...
💔 Spousal Support and Taxes: An Unfortunate Match 💰
One of my clients recently asked me for a friend: "She is paying her ex-husband alimony and spousal support of $150,000 and $280,000 based on her 2017 divorce decree. Her accountant told her that these payments are no longer payable." Here's what you need to know: 💼...
🚨 Protect Your Business During Uncertain Times 💼
Are you worried about the impact of a recession or slowdown on your business finances? Do you have questions about minimizing tax liability and staying compliant with tax laws? 🤔 At Palma Financial Services, Inc., we understand the challenges that come with running a...