by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
GOP tax reform appears likely in 2017 with Donald Trump as the president elect and Republicans holding a majority in the U.S. House and Senate. Mr. Trump promised big tax changes while campaigning. According to his website, here is a digest of his proposals. Changes...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Deductions, IRS Regulation
The IRS recently announced its “nonacquiesence” with a federal appeals court decision that held a retailer that issued loyalty discounts to its customers was entitled to deduct its liabilities attributable to discounts, which were accrued but hadn’t...
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 | Accounting Standards, Business Plans, Debt & Financing, IRS Regulation
Many business owners and executives feel like they’re admitting defeat when filing Chapter 11 bankruptcy, but it shouldn’t be that way. Chapter 11 immediately freezes all financial claims against the company and stops lawsuits and collection activities. The...
