Business Owners: Learn if a Defined Benefits Plan is Right for You Business owners who want to take advantage of the new 20 percent qualified business income (QBI) deduction under the 2017 tax law may want to consider having not only defined contribution retirement plans, such as 401(k) plans, but also defined benefit plans similar to old-fashioned pensions.
2017 & 2018 Taxes: Make Sure to Report Your Bitcoin Transactions: $20,000 Threshold Bitcoin and Taxes: Coinbase is Complying with the IRS’s Reporting Requirements. Remember to Report Your Bitcoin Transactions. Tax consequences from the sale and trade of bitcoins vary around the world, U.S. taxpayers must treat bitcoins and other “convertible” virtual currency as capital assets and not as currency. …
Do You Wish Your IRS Problems Would Just Go Away? Have you received a notice from the IRS only to leave it on your kitchen counter, desk, or worse, just hide it under a stack of bills? Are you afraid to even open the letter from the IRS? Unfortunately, those letters from the IRS will just keep coming. Your problem …
The Tax Reform & Tax Rate Changes You Should Know On December 20, the House approved H.R. 1, the “Tax Cuts and Jobs Act,” the sweeping tax reform measure, by a vote of 224 to 201. The Senate had passed the measure, as revised to address some procedural complications, the night before, and the bill was signed into law by …
2018 Tax Reform Outlook The Republicans are coming off a win with the historic year end passage of their Tax Cuts and Jobs Act. However, there wont be much time for them to rest on their laurels as there is a lot that Congress needs/wants to get done before the inevitable slow-down that will occur as early as late spring …
With Tax Reform in Mind The holidays are busy for business owners. And, I must tell you, especially so for tax professionals like me. Every year, Congress delivers updates to the tax code, seemingly at the very last minute, so my staff and I are often working over the holidays when others are not.
2017 Is Almost Over From CNN: With little less than four weeks — and just 12 scheduled legislative days left — and the 2018 midterm elections looming, Republicans must not only pass their contentious tax overhaul and avert a government shutdown, but also reauthorize other federal programs that are fraught with politics. Here at Palma Financial Services, Inc., we pay …
How could any member of the California Congressional Delegation think this plan is good for the Golden State? Here at Palma Financial Services, Inc., we are mostly concerned about the proposed elimination of deductions for state and local income taxes, the capping of property tax deductions at $10,000.00 and the House plans limits on mortgage interest deductions. The write-offs are …
This is a MUST WATCH Documentary
7:30 PM Free Parking & Light Refreshments At our complementary seminar, you will learn about: Avoiding scams Doubling or Tripling eligibility for FREE grant money High Income Parents getting tens of thousands of free grant money Avoiding the ONE single costly mistake 91% of parents make Learn the secrets on how admissions officers accept students Learn how to position your …
