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 | Deductions, IRS Regulation, Tax Planning
Small business owners are often looking for additional ways to lower their taxes. One simple and effective tax planning technique that is available thanks to the Tax Cuts and Jobs Act (TCJA) is to purchase a “heavy” vehicle, work from a qualifying home office, and...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The U.S. corporate tax rate has historically been among the highest in the world. The DPAD (domestic production activities deduction) was created by Congress years ago to help even out the playing field between American manufacturers and their competitors operating in...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning
Summer jobs remain an effective way for kids to learn about fiscal responsibility, save for college or even retirement, and supplement their spending money for the next school year. If you’re a Maine business owner, think about hiring your child or grandchild as a...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation
The Affordable Care Act (ACA), enacting in 2010, has been controversial since the start. The latest legal attack raises the question as to whether insurance carriers will continue to be required to issue coverage with individuals no matter their pre-existing medical...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Uncategorized
The one thing that never changes is that life is always changing. The Tax Cuts and Jobs Act (TCJA) has made huge changes to the federal income tax rules for individuals. But how will you, your family, and your business be affected? It depends on your specific...
