by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
After a most unusual, volatile and unprecedented year for Maine businesses, your finances — and tax situation — may be unlike any other “normal” year. Filing your business taxes can oftentimes be stressful, but with the economic hardships of the past year, it can be...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, IRS Regulation, Tax Planning, Valuations
As a small business owner, you need to ensure that your compensation reflects what others would receive for performing similar duties in a similar setting. Not only is this important for tax purposes, but it’s needed to determine the value of your business. Total...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
This past Friday marked the opening of Maine’s recreational marijuana market, which allows licensed retailers in the state to legally sell cannabis and cannabis products. While marijuana businesses in Maine may be in compliance with state laws, the federal government...
by Royer Advisors | Dec 11, 2024 | Tax Planning, Tax Preparation
Unless Congress takes action in the next few months, several significant federal tax breaks will expire at the end of this year. In the past, lawmakers have routinely made “extender” provisions to continue expiring tax breaks for another year or two. However, with the...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
With the year ending and tax season on the horizon, it can be helpful to get clarity on various tax credits. With COVID impacting the economy and quite possibly your business, you should ensure you can save every dollar you can. Congress enacted three tax credits that...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
With the stock market hitting record levels and interest rates at historic lows, some investors are moving away from low-risk securities like bonds and money-market funds and investing in precious metal such as gold, silver or platinum. If you’re considering doing the...
