by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jul 27, 2022 | Business Planning, Federal Disaster Relief, Financial Audit, Financial Services, Palma Financial Services, Pro Tips, Tax Planning
Want to know how business owners like yourself thrive during a recession? They don’t.Money becomes tighter, customers become even more stingy (many may decide to forego your products or services)…and some of your customers may go out of business, depending on...
by Jackie Strack | Aug 17, 2021 | Bookkeeping, Federal Disaster Relief
As a small business CPA, we have all the inside info on how you can improve your cash flow. In fact, new tax law provides cash injection for better cash flow. All you have to do is take advantage of the opportunity. The IRS has finally given small businesses some...
by mpalma | May 10, 2021 | Federal Disaster Relief, Tax Planning
Since 1986, lawmakers have limited business meal deductions: first to 80 percent and 50 percent (unless an exception applies). But on December 27, 2020, to help the restaurant industry due to the COVID-19 pandemic, lawmakers enacted a new, temporary 100 percent...
by mpalma | May 9, 2021 | Federal Disaster Relief
Congratulations on securing the EIDL Loan from the Small Business Administration. Now, it’s time to make the most of it by complying with the S.B.A. disbursement guidelines. DISCLOSURE: The law was approved, but the implementation, understanding, interpretation...
by mpalma | May 6, 2021 | Federal Disaster Relief
This is most likely the last opportunity to get money from the Paycheck Protection Program (PPP). A new law, the PPP Extension Act of 2021, extends the expiration date to the later of May 31 or when the money runs out. Take note of the expression “when the money...
by mpalma | May 4, 2021 | Federal Disaster Relief
Double Benefits: Claiming Both the ERC and Tax-Free P.P.P. First, say thanks to the Consolidated Appropriations Act, 2021 (C.A.A.), enacted December 27, 2020. It opened the door (retroactively and as we advance) for P.P.P. participants to claim employee retention...