by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, IRS Regulation, Tax Planning, Tax Preparation
It’s not too late for small Maine businesses to take steps to significantly reduce 2016 business income tax bill and lay the groundwork for tax savings in future years. Here’s a summary of some of the most effective year-end tax-saving moves for small...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation
You must comply with complex rules established by the IRS and the Department of Labor when your company sponsors a qualified retirement plan. Your firm could face costly penalties from federal regulators if you ignore the rules, and then you plan participants might...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Thanks to recent legislation, the due dates have been changed for some information returns and related statements and for some business tax returns. Here’s what you need to know. Earlier Due Dates for Forms 1099-MISC and W-2 A business must file a Form 1099-MISC...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Giving Tuesday, known on social media as #GivingTuesday, was on November 29, 2016. Never heard of it? The Tuesday after Thanksgiving has grown into one of the biggest fundraising drives for the not-for-profit industry. Similar to Cyber Monday, it’s a day when...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Financial Planning, IRS Regulation, Tax Planning
Generally, corporations can deduct interest on debts for federal tax purposes, and a valid obligation exists if the parties intended to create a debt, and the debt is enforceable and unconditional. A capital contribution, in contrast, is a direct or indirect...
by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
The Joint Committee on Taxation (JCT) is a nonpartisan Congressional committee that, among other things, assists in the analysis and drafting of proposed federal tax legislation and prepares reports that interpret newly enacted federal tax legislation. The JCT...
