by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
A small business owner may have several reasons for wanting to permanently close their business. In many cases it is simply because they are losing money. It could also be that the owners launched a company as friends and the relationship has soured over time. Or...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans
The regulatory and legal pressure on employers to tightly monitor their 401(k) plan costs has always been strong, but employers may soon find a little help. At the same time, however, small employers must be aware that the federal judiciary is still paying close...
by Royer Advisors | Dec 11, 2024 | Business Plans, Valuations
Let’s say that Maine Delicious Lobster Company loses its contract to deliver lobster for its primary customer, Good Maine Sandwich Company. Furthermore, the contract loss was due to an alleged breach by Good Maine Sandwich Company. The lobster company sues the...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning
Starting up a small business in Maine and wondering about how tax deductions will be handled? It’s very important to remember that most expenses incurred before a business begins functioning cannot be deducted or amortized until the year when the business does become...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Tax Planning
Most business owners want a retirement plan that meets the following criteria: Current tax benefit on contributions. Ability to minimize or avoid contributions when cash flow is tight. Only cover full time, long term employees. High percentage (70 percent or more) of...
by Royer Advisors | Dec 11, 2024 | Business Plans
Let’s say your Maine-based small business provides a service that involves servicing products that your customers own. Maybe you fix broken construction equipment, make alterations to clothing, frame customers’ art or a repair computers. You provide the service,...
