by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 26, 2022 | Palma Financial Services, Pro Tips, Tax Planning
Did you know there is a tax called the NIIT tax, which is an additional tax on your investment earnings? To project what the NIIT will be for you this year, I need to collect some information, like your investment income, investment expenses, and something called MAGI...
by mpalma | May 27, 2021 | Tax Planning
Is it possible to find a way to pay 0% (or 4%) in income tax – legally? The answer is yes. We know, it almost sounds too good to be true! Here’s the secret – there is no tax on dividends and no capital gain tax. The truth is, you could pay almost no...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Aug 20, 2013 | Featured
The deadline for U.S. Individual Income Tax Returns (with extension) is October 15, 2013. However, business entities need to be aware that the following forms are due September 16, 2013 (if an extension was requested): Form 1041 – U.S. Income Tax Return for...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 12, 2012 | Featured
Certain tax issues may affect your social security benefits. Many individuals start thinking about retirement at age 63 and wonder how social security will work once they are no longer working. Some people have to pay federal income taxes on their social security...