by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning
If you’re spending one of Maine’s many rainy spring days to clean up your home or office, you may want to purge yourself of some old paperwork. But before completely cleaning out your filing cabinet or deleting old files from your computer, it’s important to know what...
by Royer Advisors | Dec 11, 2024 | Financial Planning
Cash payments aren’t as obsolete as cassette tapes and VCRs, but they’re definitely becoming less popular. Only 30% of all retail transactions were completed using cash in 2018 — a 40% decrease since 2012, according to the Federal Reserve. And that trend is expected...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Uncategorized
Between 2010 and 2018 the median age in Maine increased from 42.7 to 44.9, this according to the U.S. Census Bureau. That 2.2 year increase is twice the national average and a reminder that our state’s population is aging. When you consider this fact alongside the...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
Thanks to the Tax Cuts and Jobs Act (TCJA), many businesses in Maine and beyond will pay less federal income taxes in 2018 and going forward. Some of these will spend their tax savings to merge with or acquire another business. Before jumping on the M&A bandwagon,...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning
There is still time for business owners in Maine and elsewhere to significantly reduce their tax bills for 2018. Taking the changes included in the Tax Cuts and Jobs Act (ACJA), here are seven year-end moves to consider: 1. Claim 100% Bonus Depreciation for...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
Of all the changes under the Tax Cuts and Jobs Act (TCJA), one of the biggest is the permanent installation of a flat 21% federal income tax rate for C corporations for tax years beginning after 2017. This new 21% applies equally to personal service corporations...
