by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
When dealing with accounts receivable, it can be easy to put off having a policy in place to protect your business. As unpleasant as it can be do deal with customers who aren’t paying their bills, it is far worse for your small business to do nothing and hope the...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Valuations
Most small business owners and attorneys know the basics of the business valuation process. They probably know that there are three approaches to value: the cost, market and income approaches. One thing attorneys and small business owners also understand is that the...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning, Tax Preparation
When starting a new Maine-based small business, there are a variety of entity choices. Some will be easily ruled out based on the business’ operation. The six basic entities are: 1. A sole proprietorship This is a business owned by one person, who may be the only...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans
If you’re self-employed as a sole proprietor, partner, or LLC member, you may owe the self-employment tax. This tax serves the purpose of collecting Social Security and Medicare taxes from your net self-employment income. The tax that is owed is in addition to...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
It isn’t necessarily true that to increase profits a small business needs to increase sales. Extra cash could already be available. A thorough profit audit can uncover those dollars in every department of your Maine-based small business. Here are five ways to start...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
As a small business owner, you are always going to have customers who don’t pay their bills on time. Due to unique relationships with customers as well as the varied responses they have to collection efforts, trying to collect the money owed to your business can...
