by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
For individual taxpayers, the new tax law — commonly known as the Tax Cuts and Jobs Act (TCJA) — includes many expected changes, some unexpected ones and some that didn’t make the final cut. Here are the most important things that individual taxpayers need to...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
It’s true—the tax rules for pass-through entities, including S corporations, limited liability companies (LLCs), partnerships and sole proprietorships, have generally become more beneficial. However, they have also become more confusing under the new law. So deciding...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
On September 29, 2017, a new law was signed by President Trump providing various tax breaks for victims of Hurricanes Harvey, Irma and Maria. Among them is a valuable tax credit for eligible employers affected by the devastating hurricanes. An “employee retention...
by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
A federal income tax credit called the Work Opportunity tax credit (WOTC) is available to businesses that hire members of certain “targeted” groups. Here’s how your business may be able to benefit from this potentially lucrative tax break. The Basics...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Considering selling real estate in Maine before the end of the year? Most likely you hope to entice a qualified buyer who has plenty of cash on hand. But being open to the idea of an installment sale may help you seal the deal, and fortunately, installment sales also...
by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
You may be thinking about making some charitable donations as the year comes to an end. Here’s a rundown of the potential tax breaks for your generosity. Itemized Deductions While you can claim write-offs for contributions of cash and other items donated to...
