I think the average taxpayer’s not gonna see any difference. It’s gonna be anyone that’s in the, you know, that 35 to 37% tax bracket. At certain point those deductions that they make are, are limited to your tax bracket. So, you know, I think people will still donate and I think they’ll accept the, Read More

And you want to confirm with your tax professional that you do not follow the advice that’s in this video. The thing about the short term rental rule is you have to be what’s called a real estate professional. You can’t just deduct, you know, the depreciation or the cost of the property on your Read More

So following that, uh, gentleman’s advice will, we’ll definitely land you in some, not so nice places and not in California, probably in a jail cell. So I would definitely not follow the gray area of what he’s proposing. ’cause when it comes to taxes, it’s, it’s black and white. You have the tax code, Read More

So the senior deduction is gonna be for anyone that’s over 65, you’re gonna get the standard deduction, and then since you’re over 65, you get an additional deduction. Anyone that’s over 65 should take advantage. It’s an automatic thing with the tax return filing. So just, you know, the IRS will change the forms, Read More

I’m one of the original partners of Palamo, Landsman & Ross. Been a partner at the firm since 2014. I got my degree at the University of Florida, go Gators, and I got a Master’s in taxation at Florida Atlantic University. My favorite part of being an accountant is, you know, I like helping people Read More

So, you know, California is a high income tax state as far as deducting state taxes is a big, big, big no-no. As far as what he’s mentioning about, you know, the whole tax system being a gray area. I mean, there’s rules and practitioners gonna either follow the rules or not. And there was Read More

This video here, I mean, you know, couple true points. What this video is talking about here is selling stock on a margin. I mean, you can do that, just is the interest deductible? It depends on a lot of different factors. I think the strategies played out. I don’t know, it’s definitely a strategy Read More

Accounting is a numbers business, but I think people forget that it’s a people business. You’re not just dealing with the people you’re dealing with their businesses, and then the people in those businesses. And there’s a lot of decisions that need to be made. And, you know, taxes is a big part of that Read More

Succession planning is planning in advance. What is going to happen in your business if you retire or there’s an unlikely or bad scenario where someone passes away unexpectedly. So every single business needs it, even if you’re a sole practitioner or you’re one person, and some of it’s simple to do, like getting a Read More

So when it comes to proactive tax planning, we have several different models and each of our clientele fits into one of those models. There are clients that I speak to once or twice a year. There’s clients that I speak to once or twice a week. It depends on what their needs are. The Read More