by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Uncategorized
Between 2010 and 2018 the median age in Maine increased from 42.7 to 44.9, this according to the U.S. Census Bureau. That 2.2 year increase is twice the national average and a reminder that our state’s population is aging. When you consider this fact alongside the...
by Royer Advisors | Dec 11, 2024 | IRS Regulation
Three federal agencies—the IRS, the Department of Labor, and the Department of Health and Human Services—have issued proposed regulations that would let employers fund tax-exempted health reimbursement arrangements in order to help pay for employees’ individual health...
by Royer Advisors | Dec 11, 2024 | Fraud Prevention, IRS Regulation
What should you do if your company becomes the victim of a W-2 scam? The IRS recently explained how to report the scam and your next steps (and how to avoid being taken in by this scam!). What Is A W-2 Scam? Any company can be the target of a W-2 scam. These scams...
by Royer Advisors | Dec 11, 2024 | IRS Regulation
One of the changes in the Tax Cuts and Jobs Act (TCJA) was to eliminate itemized deductions for employees who incur unreimbursed expenses for company business for 2018 through 2025. To minimize the adverse effects of this TCJA, you can set up a so-called “accountable...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
The Tax Cuts and Jobs Act (TCJA) provides new and improved tax incentives for buying new and used business equipment for tax years starting in 2018. Some taxpayers may still see benefits from leasing though. When deciding which way to go, here are some important...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
The IRS has issued much-anticipated regulations regarding the new deduction of up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction is a major piece of the Tax Cuts and Jobs Act signed into law in December 2017. The deduction will...
