by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, IRS Regulation, Tax Planning
Employment statistics ended 2015 on a positive note, and many businesses are planning to hire new employees this year. In addition, roughly 242,000 new jobs were added in February and the unemployment rate fell to 4.9%, its lowest level in eight years. Several recent...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The research credit is looking good for some small Maine companies, and it’s back for good. The Protecting Americans from Tax Hikes (PATH) Act of 2015, signed into law by the president on December 18th, does much more than extend this credit. Under the PATH Act, the...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Deductions, IRS Regulation, Tax Planning, Tax Preparation
The tax elections you make on your 2015 personal tax return can be extremely important to your financial welfare. Here’s a list of 10 potential elections for individuals (including self-employed taxpayers) to consider making before tax day on April 18, 2016 (or...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation, Tax Planning
In recent months, there have been several significant developments on the estate tax front, and in 2016, the federal gift and estate tax exemption increased to $5.45 million (up from $5.43 million for 2015). Here are some tips to help you stay atop the changes. New...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
How It Works You can immediately write off up to $25,000 of the cost of a new or used heavy SUV, pickup or van thanks to the Section 179 deduction privilege. The vehicle must be placed in service by the end of your business tax year beginning in 2015 and used over 50%...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, IRS Regulation, Tax Planning
If you are considering, or planning, to buy or sell business assets or an ownership interest (corporate stock or a partnership or LLC interest), beware of the tricky “related party” tax rules. The Internal Revenue Code contains a number of rules aimed at penalizing...
