by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning
The IRS 2016 optional standard mileage rates are in. These rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. You can generally deduct actual expenses incurred from driving your vehicle for...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
Documenting business travel expenses causes administrative headaches for employers and employees alike. Typically, employees are required to collect receipts as they travel, noting the time, place and business purpose of each expenditure. They then must submit monthly...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
Here in Maine, Fall is often a time to stop and enjoy the beautiful foliage, but it is also the time to start your year-end tax planning for 2015, and to tie up loose ends that remain from the 2014 tax season. However, be aware that the October 15th extension date has...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Virtually all Maine small business owners are frustrated with our current tax system. In fact, five out of today’s Top 10 small business concerns relate to state and federal tax issues, according to the Small Business Problems and Priorities survey released by...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Changes brought by the Affordable Care Act (ACA) continue to roll in. For affected Maine employers, these changes could mean higher expenses and will add filing responsibilities with the IRS. Background: The ACA has a language of its own, with many new terms employers...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation, Tax Planning, Valuations
Business valuations are prepared as of a specific date, similar to balance sheets. Sometimes a valuation’s effective date is in the past, and events have occurred after the valuation date that would have impacted the company’s value if investors knew (or...
