by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 26, 2024 | Accounting Services, Tax Advisory, Tax Assessment, Tax Deadline
Feeling stressed about old tax returns? The IRS has limitations on how far back they can look. Let’s explore these timeframes and ease your worries! The statute of limitations clarifies when the IRS can no longer audit your tax return or assess additional taxes....
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Mar 22, 2024 | Accounting Services, Tax Advisory, Tax Deadline, Tax Planning
Dreaming of retiring as a millionaire? With the deadline approaching to maximize your IRA contributions for the 2023 tax year by April 15, 2024, now is the prime opportunity for young adults to kickstart their journey toward financial independence. Navigating the...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 23, 2024 | Business Planning, Palma Financial Services, Pro Tips, Tax Deductions
Imagine your business breaking barriers and reaching new heights. Is your current legal structure a hidden obstacle? For established entrepreneurs and new business owners, the right entity choice is key to unlocking growth, operational efficiency, and financial peace...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 22, 2024 | Palma Financial Services, Pro Tips, Tax Strategy
Tax season is just around the corner! Feeling overwhelmed with choosing between e-filing and paper returns? Don’t worry; we’ve got you covered. Let’s break down the pros and cons of each method: E-filing offers: Immediate IRS confirmation: No waiting...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Feb 21, 2024 | Business Planning, Tax Deductions, Tax Planning, Tax Strategy
Significant updates for student loan borrowers have been announced! President Biden disclosed the cancellation of $1.2 billion in student loan debt, benefiting around 150,000 borrowers and contributing to a total debt forgiveness of $138 billion for nearly 3.9 million...