by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Aug 8, 2022 | College Planning, Business Planning, Financial Services, Palma Financial Services, Pro Tips, Tax Planning
Last year, you spent $32 on the gas tank, and today you spent $57. You go to the grocery store and fill up your cart for $110 last year; now it’s $180. Your rent went from $1,600 to $2,000. Inflation is everywhere, and it’s KILLING your purchasing power....
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jul 25, 2022 | Business Planning, College Planning, Financial Services, Pro Tips, Tax Planning
A client plans to hire his 15-year-old daughter to work in their LLC and will pay her around $12,000 this year. You should know that: #1: Your daughter has a $12,950 standard deduction, which means she also pays zero tax on earned income up to that amount.#2: Your...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 9, 2022 | College Planning, Financial Services, Palma Financial Services, Pro Tips, Tax Planning
Tax Benefits of Hiring Your Children: Tax Strategy and Implementation Strategy: You can take a tax deduction in your business for paying your kids a fair wage for legitimate work and services they provide to your business. Thus, you generate an excellent...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 7, 2022 | Business Planning, College Planning, Palma Financial Services, Pro Tips, Tax Planning
A Tax Strategy with Tax and Excellent Non-Tax Benefits: This newsletter will cover the non-tax benefits of this tax strategy for the family. Tomorrow, we will cover the tax benefits and implementation. Paying your children to work in your business is one of the best...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 27, 2022 | Tax Planning, College Planning, Pro Tips, Tax Reform, Tax Resolution
Tax planning strategies are an important aspect of any company’s financial strategy. It is important to be aware of all the different tax implications in order to ensure that the company is maximizing its tax benefits. There are many different types of tax...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 20, 2017 | College Planning
This is a MUST WATCH Documentary Contact us today for college planning relief. Our experience has helped families save thousands of dollars and we can help you too. What You’ll Learn: Doubling or Tripling eligibility for FREE grant money High Income Parents...
