by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Court Rulings, IRS Regulation, Tax Planning, Tax Preparation
A recent report from the New York Times makes it clear that aspiring business owners commonly use their retirement accounts to get their new ventures off the ground. But, as a recent tax court case illustrates, what may seem like a smart investment strategy can go...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning
If you are thinking about converting your C-corporation into an S-corporation, you must plan ahead to avoid owing a substantial tax on gains recognized for 10 years following the conversion. The built-in gains (BIG) tax rate is the highest corporate tax rate,...
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, 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, 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...
