by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 14, 2024 | Financial Services, Pro Tips, Tax Planning, Tax Strategy
Love and taxes? Aren’t those like oil and water? Well, not quite! While Valentine’s Day may not scream “tax deductions,” there are a few interesting tidbits to consider for both businesses and individuals: For Businesses: Spread the Love (and...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 12, 2024 | Pro Tips, Business Planning, Consulting Services, Financial Services, Tax Planning
As we kick off the 2024 tax season, staying alert to the increasing trend of fraudulent 2023 tax return filings is crucial. To assist in this, our firm has developed a targeted quiz to aid in recognizing and combating these scams. This quiz is vital in ensuring...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 7, 2024 | Rental Property, Financial Services, Tax Deductions
Thinking of selling your office building, store, or warehouse? Did you make interior improvements? This newsletter explains how those improvements might impact your future taxes. Key points: Today’s deduction can become tomorrow’s higher tax bill: Certain...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 27, 2024 | Consulting Services, Financial Services, Tax Deductions
Thinking about deducting travel, meals, and other gambling expenses in 2024? If you consider yourself a professional gambler, you might be eligible. But beware, the IRS has its cards close to its chest, and qualifying isn’t a walk in the park. The Perks of Being...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 11, 2024 | Financial Services, Tax Advisory, Tax Deadline
We are reaching out with an URGENT UPDATE that affects your business if you have employees in California and New York. For 2023, The Federal Unemployment Tax Act (FUTA) has announced a retroactive increase in the credit reduction for employers in these states. This...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 4, 2024 | Accounting Services, Business Planning, Consulting Services, Financial Services
Effective January 1, 2024, the Corporate Transparency Act (CTA) brings new filing requirements for US businesses. Who needs to file? Most corporations, LLCs, and other business entities (called “reporting companies”) are formed or registered in the US....