by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Aug 19, 2023 | Sole Proprietorship, LLC, Tax Assessment
Choosing the right business structure is pivotal in shaping your company’s future. Your aspirations, size, functions, liability concerns, and tax goals are essential factors that guide this vital decision. Whether considering a sole proprietorship, partnership,...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Apr 5, 2023 | LLC, Tax Strategy
🏠💼 Are you considering holding your primary residence in an LLC? 💰🤔 It may provide privacy and liability protection but raises questions about capital gains tax. 💸 Here are some answers to common questions: 👉 What is a personal residence held in an LLC? A personal...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Apr 5, 2023 | S Corporation, Tax Strategy
Are you considering holding your real estate in an S-Corporation? Think twice! 🤔 While there are some tax benefits to holding real estate in an S-Corporation, significant drawbacks could hurt your bottom line. Here are five reasons why you should avoid holding real...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | May 10, 2022 | Business Planning, Financial Audit, Financial Services, Palma Financial Services, Pro Tips, Tax Planning
There are more cases where the Limited Liability Company (LLC) is “pierced” in a lawsuit, and a plaintiff grabs the owner’s assets. The reason why…owners are not doing their annual maintenance such as annual meeting LLC. Now it doesn’t have to be expensive; it can be...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Apr 29, 2013 | Featured
Are you a small business owner? If so, then allow me to give you a big high five for propping up the American economy at a time of uncertainty and lots of negativity. Studies consistently show that small businesses that is, businesses loosely defined as independently...
