by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
There have been several significant tax developments that affect Maine small business partnerships in recent months. They also apply to multi-member limited liability companies (LLCs) that are treated as partnerships for federal tax purposes. (For simplicity,...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation, Valuations
Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to exit the business and are committed to employee ownership. A business valuation is the first step to determining whether this option makes sense for you. How ESOPs...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning
The IRS Fiscal Year 2015 Enforcement and Service Results showed an increase of 18.6% over the previous year for audits of partnerships. That’s the highest audit rate partnerships have experienced since 2006. By comparison, audits of large C corporations...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Do you find yourself with the urge to spring clean every year near the federal tax deadline in April? It feels good to throw out some of the financial records stuffing your filing cabinets. But before you head for the trash, make sure you’re not disposing of...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
There’s no doubt that technology has transformed our lives, from mobile apps to the Internet. It facilitates financial transactions and the transmission of information. But with convenience, it also brings risks. There are weekly news stories about sensitive personal...
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...
