by Royer Advisors | Dec 11, 2024 | Exemptions, IRS Regulation, Tax Planning, Tax Preparation
Although there are legitimate reasons for some Maine business entities to choose a partnership structure, partnership status may be undesirable for certain activities involving more than one co-owner. Here are some tax-related reasons to avoid partnership status for...
by Royer Advisors | Dec 11, 2024 | Exemptions, IRS Regulation, Tax Planning, Tax Preparation
Even though few people in Maine enjoy giving money to the IRS, some types of taxes are viewed more unfavorably than others. Here are three worthy candidates contending for the title of most-hated tax. Penalty Tax on Individuals without Health Insurance The Affordable...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Exemptions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Now that both major political party conventions are finally behind us, it’s time to focus on the upcoming national election. Among their many differences, the Republicans and Democrats have widely divergent tax platforms. It’s good to know what tax...
by Royer Advisors | Dec 11, 2024 | Business Plans, Exemptions, Financial Planning, Tax Planning
A sneak preview of proposed modifications to the rules governing overtime was provided last year, but a change has been coming for two years. On May 18, the Department of Labor (DOL) came out with its new final rules, which take effect on December 1, 2016. The rules...
by Royer Advisors | Dec 11, 2024 | Deductions, Exemptions, Tax Planning, Tax Preparation
There are some tax breaks out there that may be available to small business owners. However, business owners may only qualify if their adjusted gross income is under a certain amount. If a small business owners could qualify, but their income was a little too high,...
by Royer Advisors | Dec 11, 2024 | Business Plans, Exemptions, Tax Planning
When the owners of a C corporation sell their business’ stock for a large profit, usually they are taxed at a maximum federal rate of 20 percent, as long as they’ve had the shares for more than a year. Relatively speaking, this tax rate isn’t too bad. However, a...
