by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Apr 5, 2024 | Bookkeeping, Cryptocurrency, Investments, Tax Planning
Listen up if you’re into crypto, Big changes are coming for tax time in 2025. Remember that whole thing about people buying and selling crypto without paying taxes? Yeah, Congress isn’t a big fan. So, they’re making companies that deal with crypto... 
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 28, 2024 | Accounting Services, Bookkeeping, Business Planning, Tax Evasion
Imagine this: Dr. Smith, a successful dermatologist in Beverly Hills who generates over $5 million annually, has entrusted his tax filings to a seemingly reputable wealth management firm for five years. They assure him everything is handled, even providing fabricated... 
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 12, 2024 | Accounting Services, Bookkeeping, Business Planning, Consulting Services
I’m back, but not with another game-changing policy: Umbrella Insurance. Think of it as a security blanket for your finances, protecting against unforeseen lawsuits and liabilities. It’s an invaluable asset for both business owners and rental property... 
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 6, 2024 | Accounting Services, Bookkeeping, Business Planning, Business Protection, Consulting Services
Was your company created before 2024? As part of the new Corporate Transparency Act (CTA), companies like yours are required to submit a Beneficial Ownership Information report (BOI) by the extended deadline of January 1, 2025 (equivalent to December 31, 2024). Here... 
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Aug 21, 2022 | Business Planning, Accounting Services, Bookkeeping, Financial Services, Palma Financial Services
If you’re an entrepreneur in the fitness industry, it’s essential to understand the importance of bookkeeping and accounting to keep your business disciplined and diligent. Personal trainers and gym owners encourage their clients to set an intention, make... 
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Apr 13, 2022 | Bookkeeping, Palma Financial Services, Pro Tips, Tax Planning
Avoid This Payroll Tax Nightmare! Don’t ignore IRS notices like Mr. Mohammad did. Here is what happened to Mr. Mohammad A. Kazmi “Mohammad,” learn from his story, so you don’t let this happen to you. Avoid this payroll tax issue! An Illinois... 