by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning, Tax Preparation
The holidays can be a joyous time of year, but also very chaotic. It’s easy to forget to spend any remaining funds in your Flexible Spending Accounts (FSAs) before New Year’s Day while you’re juggling shopping for gifts, decorating your home and...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Financial Planning, IRS Regulation, Tax Planning
Generally, corporations can deduct interest on debts for federal tax purposes, and a valid obligation exists if the parties intended to create a debt, and the debt is enforceable and unconditional. A capital contribution, in contrast, is a direct or indirect...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The 21st Century Cures Act was signed into law by President Obama on December 13, 2016. In addition to funding medical research, accelerating cutting-edge treatments for rare diseases and adding significant reforms to the mental health system, the new legislation...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The IRS issued new guidance in October targeting strategies that are used to exploit the tax benefits associated with partnerships and limited liability companies (LLCs) that are treated as partnerships for tax purposes. In brief, under the new guidance, property...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning, Tax Preparation
Here in Maine, what do accounting firms, ski resorts, pumpkin patches and ice cream shops have in common? They’re all seasonal businesses that experience a surge in revenues during their busy seasons that taper off in the slow season. Seasonal peaks and troughs...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
GOP tax reform appears likely in 2017 with Donald Trump as the president elect and Republicans holding a majority in the U.S. House and Senate. Mr. Trump promised big tax changes while campaigning. According to his website, here is a digest of his proposals. Changes...
