by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation
A recent ruling by the U.S. District court recently stated that a company president was a “responsible person” who was liable for the trust fund recovery penalty. The court found that the president’s failure to pay over employment taxes was willful...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
The trial involving the Michael Jackson estate has started in Tax Court in California. One of the issues in the case is the fair market value of Jackson’s posthumous right of publicity, which includes his name and image. The estate valued this at $2,105 because the...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Hardship withdrawals are permitted by most 401(k) plans, though plan sponsors aren’t required to allow them. As it stands today, employees seeking to take money out of their 401(k) accounts are limited to the funds they contributed to the accounts themselves,...
by Royer Advisors | Dec 11, 2024 | Exemptions, IRS Regulation, Tax Planning, Tax Preparation
The deadline to begin using the 2018 federal income tax withholding tables, which reflect changes made by the Tax Cuts and Jobs Act (TCJA) was February 15, 2018. Although most Maine employers had no problems meeting the deadline, many employees question how the TCJA...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
For many individuals, the Roth IRA remains an attractive retirement planning vehicle for after the changes made by the Tax Cuts and Jobs Act (TCJA). Here’s what you need to know about Roth IRAs and Roth IRA conversions under the new law. Tax Advantages There are...
