by Royer Advisors | Dec 11, 2024 | Accounting Standards
Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) are required to implement new revenue recognition rules in fiscal years that start after December 15, 2018. Are your personnel and accounting systems prepared for this fundamental shift...
by Royer Advisors | Dec 11, 2024 | Business Plans
Electronically stored information (ESI), whether emails, spreadsheets, text documents, or others, is routinely requested as evidence in lawsuits. Destroying that data, or being unable to produce it during the discovery process, can result in some harsh legal...
by Royer Advisors | Dec 11, 2024 | Uncategorized
Violating the Fair Labor Standards Act (FLSA) for 461 summer camp employees is going to cost a Miami prep school almost $700,000 according to the U.S. Department of Labor (DOL). (DOL News Release 18-1191-ATL) After an investigation, the school will pay $635,269 to the...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
Of all the changes under the Tax Cuts and Jobs Act (TCJA), one of the biggest is the permanent installation of a flat 21% federal income tax rate for C corporations for tax years beginning after 2017. This new 21% applies equally to personal service corporations...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
The Tax Cuts and Jobs Act (TCJA) provides new and improved tax incentives for buying new and used business equipment for tax years starting in 2018. Some taxpayers may still see benefits from leasing though. When deciding which way to go, here are some important...
