by Royer Advisors | Dec 11, 2024 | Deductions, Tax Planning, Tax Preparation
While people are jumping in their cars and hitting the road here in Maine for some summer adventures, you and your small business may be hitting the road in a new vehicle. If you are adding a new car or truck to your business’ fleet, the purchase could qualify for...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning
Small business owners are often looking for additional ways to lower their taxes. One simple and effective tax planning technique that is available thanks to the Tax Cuts and Jobs Act (TCJA) is to purchase a “heavy” vehicle, work from a qualifying home office, and...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Deductions, Financial Planning
Thanks to a pilot program from the Department of Labor’s Wage and Hour Division (WHD), eligible employers may now be able to conduct a self-audit of certain wage practices. This program — called Payroll Audit Independent Determination (PAID) — was launched...
by Royer Advisors | Dec 11, 2024 | Deductions, Exemptions, Tax Planning
The Tax Cuts and Jobs Act (TCJA) may have interfered in some of your summer plans by scaling back or eliminating certain tax breaks. But individuals and small business owners in Maine still have lots of opportunities to save on their taxes. Check out these six ideas...
by Royer Advisors | Dec 11, 2024 | Deductions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The most significant tax legislation in decades has passed. The new tax reform law is commonly referred to as the “Tax Cuts and Jobs Act” (TCJA). Now Maine businesses and individuals are trying to digest the details and evaluate how the changes will impact...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
For individual taxpayers, the new tax law — commonly known as the Tax Cuts and Jobs Act (TCJA) — includes many expected changes, some unexpected ones and some that didn’t make the final cut. Here are the most important things that individual taxpayers need to...
