by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning
The success of your Maine-based small business depends to a great extent on the quality of the contracts you sign. A good contract protects everyone, and a bad contract could ruin you. Every time you promise to exchange services or property, you create a...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
When it comes to building wealth on a tax-deferred basis, the benefits of a 401(k) plan are too good to pass up. If your Maine-based small business doesn’t have a 401(k) plan, now is a good time to start one. If you already have a plan in place, there are ways...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning
If you are a Maine-based business owner and you own commercial property, you’re probably depreciating it over 39 years. That means that every year, you deduct 1/39th of the property’s value (excluding land) from your taxes. Depending on the value of your...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
These days, anyone looking to form a new business relationship, especially one that involves credit, is wise to check out the risk involved first. After all, we know that even giant companies that once seemed untouchable may be teetering on too narrow a pedestal. With...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
In today’s economic environment, one major concern for many businesses, in Maine and everywhere, is maintaining a healthy cash flow. If your small business is feeling the pinch of a tight economy, and tight credit, its ability to manage cash flow is critical....
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Court Rulings, Financial Planning
A “working condition fringe benefit” is tax-free to your employees and deductible by your Maine-based company. To qualify for this tax-favored treatment, however, the expense must be “ordinary and reasonable” under the circumstances. In...
