by Royer Advisors | Dec 11, 2024 | Business Plans, Tax Planning
Things have been going well for your Maine-based small business, and you are considering joining forces with another business for the benefit of both of you. This can be the most efficient way to grow, as long as you plan carefully. Often the reason for failed mergers...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans
If you’re self-employed as a sole proprietor, partner, or LLC member, you may owe the self-employment tax. This tax serves the purpose of collecting Social Security and Medicare taxes from your net self-employment income. The tax that is owed is in addition to...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning
When a small company if forced to shut down, it usually isn’t because they haven’t made profits. Most small businesses face closure because they lack quality cash flow, not because they lack profits or assets. So what should a business owner do? They will face many...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
All small business owners should realize the importance of contracts, since they are part of everyday business, whether it’s the tiny print at the bottom of a bill or an agreement to buy office equipment. Depending on how complex the deal is, contracts with...
by Royer Advisors | Dec 11, 2024 | Business Plans
If your Maine-based business is family owner, sooner or later, it will be time to hand over the reins to the younger generation. In order to improve the odds for continued success of your family business, you need to develop a plan of succession. If you already have...
by Royer Advisors | Dec 11, 2024 | Business Plans, Tax Planning
Fall is just beginning, but it’s not too early to think about year-end tax planning. As the end of the year approaches, it’s time to identify moves small business owners can make before December 31st. The first thing to do is to make a projection of this...
