by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning
Since 1991, the $7.25 per hour federal minimum wage has been in place. The inflation-adjusted wage would have to be $12.68 to have the same purchasing power today, according to the CPI Inflation Calculator from the U.S. Bureau of Labor Statistics. President Obama has...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning
Some worthwhile tax breaks for transportation-related employee fringe benefits are being allowed by the Internal Revenue Code. They’re intended to persuade you to “go green” and give up your gas-guzzling vehicle when commuting to work. If your employer offers...
by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
Take note if your organization employs seasonal workers or part-timers for the holidays: The IRS has issued a Health Care Tax Tip on how these individuals affect whether your business is subject to the shared responsibility provisions of the Affordable Care Act (ACA)....
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
This is a useful library of some IRS publications covering issues that can affect businesses and employers. The rules are often complicated and can be difficult to implement. Contact your tax adviser for more information. Title Publication Number Description Basis...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
The Protecting Americans from Tax Hikes (PATH) Act of 2015 locked in favorable depreciation rules for business use of “heavy” SUVs, pickups and vans. You may be able to write off the entire business-use portion of a heavy vehicle’s cost in the first...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, IRS Regulation, Tax Planning, Tax Preparation
Under the Protecting Americans from Tax Hikes (PATH) Act of 2015, many tax breaks have been retroactively expanded for 2015 and beyond, and in some cases been made permanent. Now that the new law has settled, individuals and small business owners can plan ahead with...
