by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
Does your Maine-based small business sell products or services over the Internet? It is extremely important to understand the laws pertaining to the collection of sales taxes. Collecting sales tax is relatively straight forward if your business has a physical store....
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, Tax Planning
Most business owners want a retirement plan that meets the following criteria: Current tax benefit on contributions. Ability to minimize or avoid contributions when cash flow is tight. Only cover full time, long term employees. High percentage (70 percent or more) of...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Debt & Financing
Suppose you’ve been doing business with a company that owes your Maine-based business money or has been late in paying for services you have provided. You might have even filed a lawsuit to obtain the payments. But then you receive a notice that the company has...