by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 9, 2023 | Tax Deductions, Tax Assessment, Tax Planning
Hi ! As a business owner, you know that every dollar counts. That’s why taking advantage of all the tax deductions you’re eligible for, including the 100% deduction for employee entertainment, is important. THAT’S RIGHT! You can deduct the full cost...
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 | Oct 27, 2023 | Tax Assessment, Tax Deductions
Even Swifties can’t catch a break from the IRS these days. Thanks to new tax reporting rules, anyone who resells tickets — or anything else — amounting to over $600 annually will receive a 1099-K form. That’s down from the previous threshold of $20,000!...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Sep 12, 2023 | Tax Deductions, Tax Planning
In the competitive landscape of modern business, tools like the new iPhone 15 are not just accessories but essential assets for boosting productivity and ROI. With strategic tax planning, these tech investments translate into substantial tax benefits, offering a...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jul 22, 2023 | Business Planning, Tax Deductions
In today’s competitive business landscape, leveraging all available financial advantages can make all the difference. One such advantage that can significantly impact your business’s fiscal health is the Qualified Business Income Deduction, also known as...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jul 21, 2023 | Tax Deductions, Tax Credits
Do you know you can still cut your 2022 corporate taxable income? That’s right, 2022 isn’t completely in the rear-view mirror! Use Defined Benefit Plans to Your Advantage Defined Benefit Plans (DBP) are your tax-cutting secret weapon! Their high...
