by Royer Advisors | Dec 11, 2024 | Business Plans
It’s critical to have a written policy at your company detailing how vacation and paid time off is accrued. Many small businesses offer paid vacation, paid sick leave, paid time off or paid holidays, but have no formal policy in place. Legally, there is an...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
In today’s environment, it’s important for Maine-based small business owners to concentrate on the value of their company and what drives it, especially when considering putting it up for sale. This article is focusing on value drivers for operating...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
Small business owners almost always have to ask for a loan at some point. It’s important to remember that when requesting a loan, you will have to deal with the issue of covenants. These are constraints lenders impose on your company to keep it operating within...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning
It’s one thing to read about other companies facing tough financial times. It’s quite another to experience the pressure yourself. The fact is, however, that many companies are having trouble paying their debts. And small business owners are called daily...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans
If you are a small business owner in Maine, you might be interested in hiring younger, seasonal workers, and you may be able to take advantage of a lower federal minimum wage. Employees under age 20 can be paid a “youth minimum wage,” for the first 90...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Tax Planning
Let’s say you’ve decided to sell your Maine-based business. There are two basic ways to sell an incorporated business: sell the assets or sell the stock. Sellers prefer stock sales because profits are generally taxed at a maximum federal rate of only 15 percent. Also,...
