by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
If your employer offers a 401(k), 403(b) or governmental 457 plan, you may be able to set up a designated Roth account through your company’s plan. Then your Roth account will be allowed to receive designated Roth contributions that are taken out of your salary...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The time for filing last year’s individual federal income tax return passed you by in April, unless you’ve extended the due date to October 17. What if you didn’t extend and you haven’t yet filed your Form 1040? And what if you can’t pay your tax...
by Royer Advisors | Dec 11, 2024 | Divorce Litigation, IRS Regulation, Tax Planning, Tax Preparation, Valuations
If divorcing spouses own part of the stock in a closely held corporation, this may be one of their biggest marital assets, and often one spouse decides to buy out the other party’s shares by transferring some assets in exchange for the stock. However, it’s...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
Charitable giving is on the rise, and given the natural disasters and human tragedies that have happened in recent months, the momentum is expected to continue. Charitable donations reached an all-time high last year of approximately $373.25 billion, according...
by Royer Advisors | Dec 11, 2024 | Exemptions, IRS Regulation, Tax Planning, Tax Preparation
Even though few people in Maine enjoy giving money to the IRS, some types of taxes are viewed more unfavorably than others. Here are three worthy candidates contending for the title of most-hated tax. Penalty Tax on Individuals without Health Insurance The Affordable...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Exemptions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Now that both major political party conventions are finally behind us, it’s time to focus on the upcoming national election. Among their many differences, the Republicans and Democrats have widely divergent tax platforms. It’s good to know what tax...
