by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 20, 2024 | Tax Assessment, Tax Deadline, Tax Planning, Tax Strategy
We have news that demands your immediate attention, as it could impact your business’s financial landscape – a proposed change in the Employee Retention Credit (ERC) filing deadline. In light of the persistent confusion surrounding ERC eligibility, associated...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 18, 2024 | Tax Deadline, Tax Planning, Tax Strategy
Are you ready to face the 2024 tax season? Missing tax deadlines is a mistake you can’t afford. It’s not just about the rush; it’s about avoiding unnecessary fines and controlling your financial future. Why is it crucial to be on top of your...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 9, 2024 | Tax Advisory, Tax Assessment, Tax Planning, Tax Strategy
We’re excited to inform you that the Internal Revenue Service (IRS) has officially set Monday, January 29, 2024, as the kick-off for the 2024 tax season, which is the day when they will start accepting and processing tax returns for 2023. With an estimated 128.7...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Dec 29, 2023 | Tax Advisory, Tax Assessment, Tax Planning, Tax Strategy
The IRS introduced the Employee Retention Credit Voluntary Disclosure Program (ERC-VDP) to support businesses, providing a unique opportunity to amend past ERC claims. This program especially benefits those who may have inadvertently overstated their ERC claims. Why...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Dec 28, 2023 | Tax Assessment, Tax Planning, Tax Strategy
As an independent worker, consultant, or freelancer, you’re responsible for paying your taxes throughout the year, not just in April. And with the recent increase in the IRS penalty for underpayment, even a small miscalculation could cost you big. Here’s...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Dec 27, 2023 | Tax Strategy, Tax Assessment, Tax Planning
Get ready for some jingle-all-the-way news, taxpayers! The IRS, that lovable Grinch we all know and tolerate, is gifting $1 billion in penalty relief to 4.7 million lucky folks this holiday season. That’s right, folks, a Scrooge-sized chunk of change straight...