by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Tax Planning
When you take out personal loans to buy a Maine-based small business, you want to maximize the tax write-offs for the resulting interest expense. The tax law in this area can seem complicated. But if you do some research ahead of time and talk with Filler &...
by Royer Advisors | Dec 11, 2024 | Business Plans, Court Rulings, IRS Regulation, Tax Planning
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 | Business Plans, Financial Planning, Tax Preparation, Valuations
Whether you’re setting up a new company in the Greater Portland area, or you’ve been in business for years, you need to evaluate which legal structure is best for your enterprise. No one option is best for every type of operation. The number of owners,...
by Royer Advisors | Dec 11, 2024 | Business Plans, Court Rulings, Financial Planning
Wisniewski v. Walsh, 2013 N.J. Super. Unpub. LEXIS 724 (April 2, 2013) Children learn that bad behavior has consequences. An appellate court recently taught a similar lesson to a troublemaking shareholder whose doings forced a buyout. Three siblings each owned a...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning
Setting up and maintaining a SEP for your Maine-based business is probably easier than you think. The sooner you get started saving, the more secure your retirement will be, plus your business can gain tax advantages right away. SEP Basics The SEP is a stripped-down...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing
Companies on the brink of collapse must now use the liquidation basis of accounting, according to new guidance from the Financial Accounting Standards Board. Financial statements will now have to be prepared that show the values of assets and liabilities in terms of...
