by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, IRS Regulation, Tax Planning
If you are considering, or planning, to buy or sell business assets or an ownership interest (corporate stock or a partnership or LLC interest), beware of the tricky “related party” tax rules. The Internal Revenue Code contains a number of rules aimed at penalizing...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
Federal law does not obviously require an “investment policy statement” (IPS), but the statute governing retirement plans (ERISA), does expect that plan trustees will have a specific policy in mind. In summary, there is an assumption that investments being offered to...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning, Tax Planning, Tax Preparation
Overpayments of sales and use taxes may be caused by various situations. For example, retailers and suppliers have been aggressive about charging sales tax to avoid audit deficiencies because field auditors in many states, like Maine, have become more aggressive about...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans
Many small business owners feel buried in paperwork. Running a small business requires a certain amount of commitment that only the owner is able to tackle. But this means that there is a mountain of paperwork that comes with the territory. Among other things, the...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Fraud Prevention
Small businesses have to maintain payroll for their employees. This means that business owners cannot avoid collecting and maintaining personal information about their employees, both current and former. For long established business, it’s possible that there are...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Valuations
The efficacy of financial forecasts or projections that are used by an expert when they are making a valuation in a litigation proceeding is a point that can be missed. If these forecasts are off, they can be the cause of a large difference between experts. It’s...
