by Royer Advisors | Dec 11, 2024 | Business Plans, Court Rulings, IRS Regulation, Tax Planning, Tax Preparation
If you are an employee, a partner, a partner who doesn’t know it, or a combination of these classifications, there may be serious tax implications. Here are some recent developments that you need to know if you participate in a business that’s operated as...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The 21st Century Cures Act was signed into law by President Obama on December 13, 2016. In addition to funding medical research, accelerating cutting-edge treatments for rare diseases and adding significant reforms to the mental health system, the new legislation...
by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
Recently, the IRS announced that it is extending one of the deadlines for providing 2016 Affordable Care Act (ACA) information statements to recipients. Specifically, the due date for furnishing to individuals the 2016 Form 1095-B (Health Coverage) and the 2016 Form...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The IRS issued new guidance in October targeting strategies that are used to exploit the tax benefits associated with partnerships and limited liability companies (LLCs) that are treated as partnerships for tax purposes. In brief, under the new guidance, property...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning, Tax Preparation
Here in Maine, what do accounting firms, ski resorts, pumpkin patches and ice cream shops have in common? They’re all seasonal businesses that experience a surge in revenues during their busy seasons that taper off in the slow season. Seasonal peaks and troughs...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, IRS Regulation, Tax Planning, Tax Preparation
It’s not too late for small Maine businesses to take steps to significantly reduce 2016 business income tax bill and lay the groundwork for tax savings in future years. Here’s a summary of some of the most effective year-end tax-saving moves for small...
