by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Sep 7, 2023 | Rental Property, Tax Strategy
Meet Marlene, a seasoned property investor who recently found herself in a tough spot in the ever-changing New York market, where she struggled to find a suitable property to complete her 1031 exchange. Marlene faced two unattractive choices: swallow a substantial...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Aug 1, 2023 | Rental Property, Tax Strategy
As a business owner leasing an apartment, you may have specific tax considerations that differ from traditional homeownership scenarios. Question 1: Could the Augusta Rule Apply to Business Owners Leasing Apartments? Answer: The Augusta Rule Explained: The Augusta...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 27, 2023 | Rental Property, Tax Strategy
Want to reduce your tax bills significantly? Then, read on to discover the top five tax strategies you need to know. Dear valued readers, As a long-term rental investor, reducing your tax bills is a top priority. With the right strategies, you can maximize your tax...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 30, 2023 | Rental Property, Tax Deductions
Are you tired of overpaying income taxes and missing out on potential savings and wealth-building opportunities? We have exciting news for you! Our team at Palma Financial recently helped a referral from Glenn, a successful real estate investor, explore the Zero-Tax...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 30, 2022 | Rental Property, Tax Deductions
If you are looking for ways to save on your taxes? The Augusta Rule may be a great option for you. The rule allows Mom and Dad to rent a room in their home or rent their entire house tax-free as long as they follow three simple rules. Rule 1: Mom and Dad cannot rent...
by Jackie Strack | Jun 25, 2022 | Financial Services, Palma Financial Services, Pro Tips, Real Estate, Rental Property
There are many reasons why you may want to establish residency in another state, besides the obvious (you just moved). Maybe you have a child going to an expensive college soon, and you want to establish residency for in-state tuition. Maybe you’re currently living in...
