by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 12, 2023 | Tax Planning, Tax Strategy
Year-end ain’t here yet, but we’re holding it down in the middle !! It becomes evident that consulting an accountant in the middle of the year offers numerous benefits for individuals and businesses, such as: Tax planning and optimization Identifying...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 10, 2023 | Credit Cards, Tax Advisory
Guess what? Great News! Use your credit card to pay off your Federal and California tax balances. How cool is that !? And the best part is that you might even earn some awesome credit card rewards, points, or cashback on your tax payment. Cha-ching! But before jumping...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 8, 2023 | Tax Assessment, Tax Strategy
It’s time to level up and make something truly powerful! Hi there, sometimes, the entity election that worked for your business initially may not be the best choice as your business grows. Whether you have a C corporation, S corporation, partnership, LLC,...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 5, 2023 | Tax Assessment, Tax Planning
A few weeks ago, I was in the most unexpected situation in San Jose, California: hosting a conference for tax professionals. Yep, you heard that right! I could feel their skepticism hanging in the air, but… I started my presentation and shared a unique tax...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 4, 2023 | Tax Assessment, Tax Strategy
If you’re not doing monthly tax planning, you’re basically leaving money on the table. So, what steps will you take to seize every opportunity for profit and minimize your tax liability? Are you doing nothing at all? Or maybe you’re just hoping and...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 3, 2023 | Small Businesses, Schedule C
Alright, listen up: So, here’s the deal, my friend: About 75% of small businesses choose a Schedule C, but honestly, it doesn’t really make sense when it comes to taxes. But here’s the cool part: If you switch it up and go for an S corporation,...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jun 2, 2023 | Tax Planning, Tax Strategy
How many certified public accountants (CPAs) utilize this script annually? “It’s tax season! Please submit your W2s and 1099s by the end of the month.” After your taxes are done: “Alright, based on your earned income, the amount you owe in...
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 31, 2023 | Small Businesses, Tax Advisory
We have received numerous inquiries, and I want to urgently bring to your attention a matter of utmost importance that could have far-reaching consequences for our economy and small business. The U.S. government’s potential default on its obligations is a...
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...
