by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jan 30, 2024 | Tax Assessment, Tax Deadline, Tax Planning, Tax Strategy
As the deadline for filing 1099s for the 2023 tax year rapidly approaches, we want to ensure your business is well-prepared for a seamless tax season. With just a limited time left until the January 31, 2023, deadline to file Form 1099-NEC (Nonemployee Compensation)...
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 | Nov 9, 2023 | Tax Deductions, Tax Assessment, Tax Planning
Hi ! As a business owner, you know that every dollar counts. That’s why taking advantage of all the tax deductions you’re eligible for, including the 100% deduction for employee entertainment, is important. THAT’S RIGHT! You can deduct the full cost...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 7, 2023 | Tax Deductions, Tax Assessment, Tax Bill
A $5 million nest egg is a significant amount of money, but it’s important to remember that taxes can take a big bite out of your savings. If you’re in the highest tax bracket, your $5 million nest egg could be taxed up to 37%. That means you could lose...
by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Nov 7, 2022 | Tax Strategy, Tax Planning
Tax Break of 2022: Direct Investment in Oil & Gas & 100% Tax Write-Off of Intangible Drilling Costs (IDC). Expensing exploration, development, and intangible drilling expenses is one of the federal income tax provisions that support domestic fossil extraction....