by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Considering selling real estate in Maine before the end of the year? Most likely you hope to entice a qualified buyer who has plenty of cash on hand. But being open to the idea of an installment sale may help you seal the deal, and fortunately, installment sales also...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning, Fraud Prevention
Could your data be hacked? Unfortunately, every organization is vulnerable to cyberattacks today. There are plenty of examples. In September, Equifax reported a data breach that exposed the credit histories and other information of 145.5 million Americans. Shortly...
by Royer Advisors | Dec 11, 2024 | Deductions, Exemptions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
You may be considered part of the “sharing economy” (also known as the Gig or on-demand economy) in Maine if you provide car rides through a mobile app, rent out your spare room using an online platform or repair computers for local businesses on demand....
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The top line of your company’s income statement is revenue. So, it tends to receive a lot of attention from investors, lenders and other stakeholders. Why? It’s a telltale sign whether your company is growing or declining based on changes in revenue. Moreover,...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
You must start taking mandatory annual withdrawals from your traditional IRAs once you turn age 70½. This includes any simplified employee pension (SEP) accounts and SIMPLE IRAs that you set up as a small business owner. These mandatory IRA payouts are called required...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Are you a passive investor who isn’t directly involved in a project’s day-to-day operations, or do you materially participate in a business or rental activity in Maine? To help individuals classify income, gains and losses from activities as passive or...
