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 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
You may have heard about the Tax Cuts and Jobs Act (TCJA) provides businesses with lower income tax rates, but there’s more to it than that. Here’s an overview of some lesser-known, business-friendly changes under the new law, along with a few changes that could...
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?...
