by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
For partnerships and limited liability companies (LLCs) that are treated as partnerships for tax purposes, legislation enacted in 2015 established a new IRS audit regime. To help partners prepare for the changes that are effective starting with the 2018 tax year,...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Since school is back in session, we think it’s a good time for a refresher on tax breaks for work-related education expenditures. Here’s what Maine taxpayers need to know. American Opportunity Credit The American Opportunity credit equals 100% of the first...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, IRS Regulation, Tax Planning, Tax Preparation
If your Maine small business reimburses employees for actual travel expenses, then you know the process of submitting and approving expense reports for business travel can be an administrative hassle. Fortunately, the IRS offers simplified alternatives that can save...
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...
