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...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Some parts of the tax code that relate to personal tax returns have been significantly changed by the new Tax Cuts and Jobs Act (TCJA). In addition to lowering most of the tax rates and increasing the standard deduction, the TCJA repeals, suspends or modifies some...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
November is open enrollment season at most Maine offices. Have you signed up for employer-provided benefits for 2018? Because it’s uncertain how tax reform legislation that could be enacted soon will change the tax rules starting in 2018, benefits enrollment is...
by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
There’s still time to take steps to significantly reduce your Maine business’s 2017 income tax bill and possibly lay the groundwork for tax savings in future years. Here are five year-end tax-saving ideas to consider, along with proposed tax reforms that might...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
You can currently make extra “catch-up” contributions to certain types of tax-favored retirement accounts if you are age 50 or over. Over time, these contributions can make a significant difference in your retirement-age wealth. What about tax reform?...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
After five years of being stuck at $14,000, the annual gift tax exclusion will be $15,000 per recipient for 2018 — its highest point ever. According to the announcement by the IRS, it’s rising due to inflation. Here’s what the recent increase in the exclusion...
