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PALAZZO & COMPANY CPA GLOBAL KNOWLEDGE, LOCAL TRUST.

8933 Lorraine Rd., Gulfport MS 39503

(228) 396-8800 or (866) 272-9224 info@palazzotax.com

Blog Posts

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Should you opt-out of the Advanced Child Tax Credit? Deadline Monday, June 28!

The IRS recently sent out a letter notifying you of how these advance child tax credit payments work.  They also advised you at the bottom of the letter on how to opt-out of this program for those who would prefer to receive a larger refund (or lower tax liability) with […]

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New Considerations For Your 2020 Tax Filing

When you get ready to file your federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund you may receive. Do any of these apply to you? Recovery rebate […]

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Back To School Tax-Saving Tips

As we all prepare for a new and interesting school year, here are some simple actions you can take to ensure you are maximizing savings opportunities on your 2020 tax return. Childcare Payments Hold on to your receipts! The CARES Act has provided several provisions to how taxes have been […]

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Important Tax Filing Updates Due To Covid-19

The IRS has extended the filing deadline and federal tax payments regardless of the amount owed in response to the COVID-19 outbreak. The tax filing due date has been automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April […]

7 ways to reduce tax liability

7 Ways To Reduce Tax Liability While Living Abroad

If you’re an American citizen enjoying a life overseas, exploring the pros and cons of filing taxes may be last on your list. Nevertheless, taxes for US expats has become an increasingly hot topic and one that should not be ignored. Here are some important tips to consider that may […]

top tax prep requirements

Top Tax Prep Requirements for US Expats Living Abroad

As experienced experts in tax preparation for US expats, we spend a lot of time making sure we answer the questions that our clients send us. As you prepare to file your 2018 tax return, here’s a list of requirements to make sure you fulfill if you are already living […]

us expat tax prep

US Expat Tax Prep: 8 Ways to Prepare for 2019 Tax Season

Preparation for tax season is fast approaching, and for US citizens living abroad, there is no exception. The United States is one of only two countries that taxes its citizens on worldwide income, regardless of where they live or work. If you fall into this category, stay up to date […]

payroll and employment tax basics

Payroll And Employment Tax Basics For Small Business Owners

As a small business, there are many things to consider. For small businesses with less than 10 employees, payroll taxes may be one of the most underthought areas. Payroll taxes include any amount of money that is paid to the IRS, as well as state or local entities that collect […]

2018 Tax Deduction Update

2018 Tax Deduction Update: Personal vs. Business Expenses

Whether you own an established business or a startup, it is essential to have your expenses adequately documented so that you (or your bookkeeper) are prepared at tax time. Do you know which expenses you should track? The answer, in short, is all of them. Understanding the tax deductions available […]

9 Year End Tax Tips

9 Year-End Tax Tips for Small Businesses

Every small business owner’s main goal is to be as profitable as possible. You do that by maximizing revenue and minimizing cost. At year-end, a major thought in everyone’s mind is what are the best ways to reduce the year’s tax bill. There are many ways to reduce taxes, but […]