by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 23, 2024 | Business Planning, Palma Financial Services, Pro Tips, Tax Deductions
Imagine your business breaking barriers and reaching new heights. Is your current legal structure a hidden obstacle? For established entrepreneurs and new business owners, the right entity choice is key to unlocking growth, operational efficiency, and financial peace... by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 21, 2024 | Business Planning, Tax Deductions, Tax Planning, Tax Strategy
Significant updates for student loan borrowers have been announced! President Biden disclosed the cancellation of $1.2 billion in student loan debt, benefiting around 150,000 borrowers and contributing to a total debt forgiveness of $138 billion for nearly 3.9 million... by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 15, 2024 | Palma Financial Services, Tax Deductions, Tax Planning, Tax Strategy
Just witnessed an epic Super Bowl showdown? Whether you cheered for the Kansas City Chiefs or the San Francisco 49ers, one thing’s for sure: championship wins come with tax implications. Player Bonus: Imagine winning a huge bonus. Exciting, right? Well, Uncle... by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 9, 2024 | Tax Strategy, Palma Financial Services, Tax Deductions, Tax Planning
Imagine safeguarding your wealth from legal risks while maximizing your loved one’s inheritance. An Irrevocable Life Insurance Trust (ILIT) could be your answer, offering asset protection and a unique tax-saving opportunity for business owners like you.... 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...