by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 7, 2023 | Tax Deductions, Tax Assessment, Tax Bill
A $5 million nest egg is a significant amount of money, but it’s important to remember that taxes can take a big bite out of your savings. If you’re in the highest tax bracket, your $5 million nest egg could be taxed up to 37%. That means you could lose...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 1, 2023 | Tax Advisory, Tax Bill
Do you know that the House of Representatives PASSED the Fiscal Responsibility Act of 2023? This bill is designed to raise the debt ceiling and will now move on to the Senate for further consideration. But what does this mean for you? Book your appointment here to...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 30, 2023 | Tax Bill, Tax Advisory
I wanted to update you quickly on recent legislative changes regarding the debt ceiling. A new draft bill, the “Fiscal Responsibility Act of 2023,” has been released, and I want to highlight its impact on business owners like yourself. Key Points from the...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 2, 2023 | Tax Assessment, Tax Bill
Did you know that the US has a long and fascinating tax history? From the first federal income tax in 1861 to the latest changes in tax laws, the US tax code has undergone many revisions over the years. If you’re curious how much the US income tax rate has...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 24, 2023 | Tax Bill, Tax Assessment
Are you investing in real estate or planning to invest soon? The Biden Administration’s new budget proposal partially eliminates the 1031 exchange, a tax code provision that real estate investors have long used to defer capital gains taxes on property sales. This...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Dec 10, 2022 | Tax Planning, Tax Bill
As the end of the year approaches, now is the time to start thinking about tax planning for your business. Tax planning involves strategically managing your business’s finances to minimize tax liability. By tax planning before the end of the year, you can save...
