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
A bill that would delay the start of new federal overtime pay rules from December 1, 2016 to June 1, 2017 was passed and sent by the U.S. House of Representatives to the Senate. However, President Obama has indicated he will veto the bill if it hits his desk. The...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
These days many college students are leaving school with an overwhelming amount of debt. However, there are some cases where student loans are discharged (also known as being cancelled or forgiven). In other cases, these loans are paid off by an employer. With both of...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning, Tax Preparation
If you’re considering investing in a start-up or starting your own business in Maine, there’s an exciting tax break that could sweeten the deal: Gains from selling qualified small business stock (QSBS) that you acquire on or after September 28, 2010, are...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The IRS released new temporary and final Section 752 regulations at the beginning of October 2016. Sec. 752 of the Internal Revenue Code and related regulations explain how to allocate partnership debt among partners for purposes of calculating the basis of their...
