by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 11, 2024 | Small Businesses, Business Planning, Business Protection, Tax Strategy
Last week was National Small Business Week, a time to celebrate all we’ve achieved and reflect on our incredible ride. We’ve all been there—the late nights, the tight deadlines, the moments of pure joy. That’s what makes this journey so special,...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Apr 12, 2024 | Sole Proprietorship, Business Planning, Small Businesses
As we delve into tax strategies, you have a powerful tool—the Section 199A deduction under the Tax Cuts and Jobs Act. It’s time to explore how this can be a game-changer for your business. The 20% Boost for Pass-Through Entities (2018-2025): This provision can...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 30, 2024 | Accounting Services, Business Planning, Business Protection, Tax Assessment
Did you know that even missing one tax deadline can lead to penalties and headaches? Don’t let that happen! The new year is here, and with it comes tax season! That’s why we are sharing the 2024 Federal Tax Calendar to help you stay on top of important...
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 | Feb 23, 2024 | Business Planning, Palma Financial Services, Pro Tips, Tax Deductions
Imagine your business breaking barriers and reaching new heights. Is your current legal structure a hidden obstacle? For established entrepreneurs and new business owners, the right entity choice is key to unlocking growth, operational efficiency, and financial peace...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 21, 2024 | Business Planning, Tax Deductions, Tax Planning, Tax Strategy
Significant updates for student loan borrowers have been announced! President Biden disclosed the cancellation of $1.2 billion in student loan debt, benefiting around 150,000 borrowers and contributing to a total debt forgiveness of $138 billion for nearly 3.9 million...