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, Debt & Financing, Financial Planning
Many banks in Maine, and other states, remain hesitant about loaning money to start-ups and small business owners, even nearly a decade after the financial crisis of 2008. Stricter lending policies often make applying for financing a nerve-wracking and time-consuming...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
It can be deceptively easy to take costs out of a business, at least initially. Cutting low-hanging fruit such as providing coffee in break rooms, consulting services, laying off temporary employees or removing a layer of management can result in considerable savings....
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
While CFOs at most large U.S. companies have been working overtime themselves to prepare for the new overtime rule changes, many Maine small and midsize businesses haven’t been as quick to react. The deadline for the Department of Labor’s (DOL’s) new...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning, IRS Regulation
You might have to close up shop for a while if your business is hit by a natural disaster; hurricane, windstorm, blizzard, or if it falls victim to arson or terrorism. As a result, you could suffer a major loss of income. A key component to continuing as a thriving...
