by Royer Advisors | Dec 11, 2024 | Business Plans, Debt & Financing, Deductions, Financial Planning, Tax Planning, Tax Preparation
If you participate in a qualified retirement plan, such as a 401(k), profit-sharing, or Keogh plan, through your job or self-employment, you might be allowed to borrow from the account. It’s important to note that the borrowing option is not available for traditional...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Health Savings Accounts (HSAs) involve individuals and businesses buying less expensive health insurance policies with high deductibles, and contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax free, and be withdrawn...
by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning
A top concern for Maine businesses is attracting and retaining qualified employees. Each year, numerous positions go unfilled, often because job applicants don’t have the requisite skills or training. Some proactive employers are tackling the issue with the help...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Financial Planning, Tax Planning
Sometimes, estate proceedings continue to be open for years with no end in sight. If you’re an executor or personal representative of an estate, or even an heir, eventually you want closure. There are certain steps that must be taken to close the estate. This...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, IRS Regulation, Tax Planning, Tax Preparation, Valuations
Donations from a will may not actually get to your organization for some time because of probate and estate administration. That raises the issue of what value and what date to use in issuing the official tax receipt. When a will contains a gift in kind to be donated,...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
The IRS takes a strict position on travel and entertainment (T&E) deductions, and there’s a good chance an agent will take a hard look at those items if you claim them on your tax return and you’re audited. The challenge will be more focused on whether you kept...
