by Royer Advisors | Dec 11, 2024 | Business Plans, Court Rulings, Tax Planning, Tax Preparation
What happens if you’re the owner of a limited liability company (LLC) that generates tax losses, and you don’t spend a lot of time in the activities of the business? The losses might be classified as passive, and your ability to currently deduct them might...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
The term direct deposit does not apply to payroll only. This can be a time and money saving service to businesses in other ways too. What about the checks written for expense reimbursements or commissions? For a corporation, how about depositing the dividend checks of...
by Royer Advisors | Dec 11, 2024 | Business Plans
The word “free” is a very effective tool and can help Maine-based small businesses attract attention, bring customers to Web sites and boost volume. In fact, some experts say the word pulls in more business than any other term in advertising. However, small...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Debt & Financing
As all small business owners know, no sale is really a sale until the money is in. Most businesses no longer operate on a cash and carry basis, so customers buy on credit. This means that often the receipt of that money is delayed. Every time a company extends credit...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Financial Planning
As a Maine-based small business owner, you may be wondering if you can write off bad debts at tax time. Since cash-basis companies don’t recognize revenue until it’s received, and therefore wouldn’t have anything on the books to deduct, only businesses that record...
by Royer Advisors | Dec 11, 2024 | Business Plans
Many Maine-based small business owners want to develop a company mission statement. They realize that a good one can highlight products and services, as well as align employees around a common vision. But the truth is that many mission statements fail, becoming...
