by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
The IRS recently laid out a few changes for 2016 to the tax laws that govern benefits, as laid out in the annual “Tax Guide to Fringe Benefits.” The document features important clarifications, not just identifying which benefits are and aren’t...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation
The IRS must learn in-house terminology being used by the business when they begin auditing or examining, as well as how the business maintains their records. In the case of executive compensation, the IRS is especially interested in arrangements in which the company...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Valuations
When determining fair market value (FMV), valuing donations other than cash or equivalents is rarely easy. Typically, FMV is the highest value that can be obtained for a gift in kind between a seller and a buyer who are acting independently from each other in an...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The IRS recently published a series of press releases to make tax payers aware of the “dirty dozen” tax scams for this year. The list is not entirely surprising, but it’s important to note that these scams have become increasingly technology-driven in recent...
by Royer Advisors | Dec 11, 2024 | Deductions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
This past holiday season, taxpayers received a “gift” from Washington, D.C. It’s the PATH Act, which stands for Protecting Americans from Tax Hikes Act of 2015. This act does more than just extend expired tax provisions for another year, the...
by Royer Advisors | Dec 11, 2024 | Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
The tax law passed by Congress and signed by President Obama on December 18th contains some payroll tax provisions that are of interest to Maine employers. Here are four changes in the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). 1. There will be an...
