by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation, Uncategorized
Bitcoin has been around for almost 10 years. But the tax rules associated with “virtual currency” are constantly evolving. In 2018, tax matters will become even more complicated for because relevant provisions of the Tax Cuts and Jobs Act take effect...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
If your Maine company initiates a new paid family and medical leave benefit, the Tax Cuts and Jobs Act, enacted at the end of last year, will give your company a tax credit. Although the IRS has yet to issue its interpretive regulations, the text of the law itself...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation
A recent ruling by the U.S. District court recently stated that a company president was a “responsible person” who was liable for the trust fund recovery penalty. The court found that the president’s failure to pay over employment taxes was willful...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Hardship withdrawals are permitted by most 401(k) plans, though plan sponsors aren’t required to allow them. As it stands today, employees seeking to take money out of their 401(k) accounts are limited to the funds they contributed to the accounts themselves,...
by Royer Advisors | Dec 11, 2024 | Exemptions, IRS Regulation, Tax Planning, Tax Preparation
The deadline to begin using the 2018 federal income tax withholding tables, which reflect changes made by the Tax Cuts and Jobs Act (TCJA) was February 15, 2018. Although most Maine employers had no problems meeting the deadline, many employees question how the TCJA...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Question: Our company is an applicable large employer (ALE), and we sponsor a fully insured group health plan. We have to file Forms 1094-C and 1095-C for the 2017 calendar year. When are these forms due this year? Answer: Applicable large employers must: 1. Report to...
