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...
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...
by Royer Advisors | Dec 11, 2024 | Business Plans, Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
Over the last two years the IRS and state tax authorities have made significant strides in curbing individual identity theft. But cyberattacks against businesses are on the upswing. Here are some simple ways business taxpayers can help protect their data from hackers....
