by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning, Tax Planning, Tax Preparation
Overpayments of sales and use taxes may be caused by various situations. For example, retailers and suppliers have been aggressive about charging sales tax to avoid audit deficiencies because field auditors in many states, like Maine, have become more aggressive about...
by Royer Advisors | Dec 11, 2024 | Divorce Litigation, Financial Planning, Valuations
During a divorce, when either spouse owns a private business interest, the divorce settlement is only as reasonable as the value of the business and the compensation of its owners. Replacement compensation can become a controversial issue, especially when the spouse...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Valuations
Maine business owners are often surprised when they receive their valuation report from a hired appraiser. Often times the expert is hired to determine the fair market value of a business interest for, say, divorce or gift and estate tax purposes, and the client...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
Federal law does not obviously require an “investment policy statement” (IPS), but the statute governing retirement plans (ERISA), does expect that plan trustees will have a specific policy in mind. In summary, there is an assumption that investments being offered to...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Valuations
Value is relative. Some assignments require the valuation of a minority interest that may lack control and “marketability,” while others call for an appraisal of the entire entity on a controlling basis. How do these situations differ, and how are these differences...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
For federal income tax purposes, an unincorporated joint venture, other contractual, or co-ownership arrangement, under which several participants conduct a business or investment activity and split the profits, is generally treated as a partnership. If the joint...
