by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
If you want your Maine-based small business to grow and remain competitive, a solid financial plan and a well-conceived strategy can mean the difference between boom and bust. The most important starting point is a cash-flow analysis. Looking at your company’s...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning, Tax Planning
If you use part of your home as an office for your Maine-based small business, and deduct related expenses on your tax return, you may wonder if you can claim a valuable federal tax break when you sell. This tax benefit is the home sale gain exclusion, of up to...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
Small business owners and executives would be smart to obtain business interruption insurance, and possibly contingent business income. The idea is that the policy will compensate the company for lost earnings if a devastating event forces it to temporarily stop...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
Small business owners almost always have to ask for a loan at some point. It’s important to remember that when requesting a loan, you will have to deal with the issue of covenants. These are constraints lenders impose on your company to keep it operating within...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Valuations
From time to time, every small business owner wonders what the value of their business is. The correct answer can vary, depending on the purpose of the appraisal. Different rules and standards of value may apply in different circumstances. Some of the reasons a...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans
If you are a small business owner in Maine, you might be interested in hiring younger, seasonal workers, and you may be able to take advantage of a lower federal minimum wage. Employees under age 20 can be paid a “youth minimum wage,” for the first 90...
