by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
If you own commercial or residential rental real estate in Maine, the Tax Cuts and Jobs Act (TCJA) brings several important changes that owners of rental properties should understand. Rental property owners, in general, will enjoy lower ordinary income tax rates and...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
If your Maine company initiates a new paid family and medical leave benefit, the Tax Cuts and Jobs Act, enacted at the end of last year, will give your company a tax credit. Although the IRS has yet to issue its interpretive regulations, the text of the law itself...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
Many employers in Maine believe their employees expect to work past age 65. A recent survey by the Transamerica Center for Retirement Studies states that one reason for staying on the job longer is that so many older workers experience a shortfall of retirement...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
November is open enrollment season at most Maine offices. Have you signed up for employer-provided benefits for 2018? Because it’s uncertain how tax reform legislation that could be enacted soon will change the tax rules starting in 2018, benefits enrollment is...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
There’s still time to take steps to significantly reduce your Maine business’s 2017 income tax bill and possibly lay the groundwork for tax savings in future years. Here are five year-end tax-saving ideas to consider, along with proposed tax reforms that might...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
You can currently make extra “catch-up” contributions to certain types of tax-favored retirement accounts if you are age 50 or over. Over time, these contributions can make a significant difference in your retirement-age wealth. What about tax reform?...
