by Royer Advisors | Dec 11, 2024 | Business Plans, Tax Planning, Tax Preparation
There is generally no one legal structure that works best for all small businesses. The best choice depends on a number of things, including the number of owners, your tax situation and whether or not you have employees. A limited liability company (LLC) may be a good...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, Tax Planning
It used to be that small business owners believed that all they had to do was serve their customers effectively and make sure that their stock maintained or increased its value. It’s now more usual, however, that business owners also must be concerned with their...
by Royer Advisors | Dec 11, 2024 | Tax Planning, Tax Preparation
Every corporation in Maine must pay income tax at rates reaching up to 35 percent. But the tax burden is even larger for corporations labeled as personal service corporations. In that case, the tax rate is a flat 35 percent. Personal service corporations don’t...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning, IRS Regulation, Tax Planning
If you operate a business that collects payroll taxes from employees, always remember this: No matter what your corporate financial situation is, don’t borrow from the withholding tax fund. If that money isn’t there when it’s due, the IRS will crack...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Tax Planning, Tax Preparation
Have you procrastinated in setting up a tax-advantaged retirement plan for your Maine-based small business? If so, you are paying income taxes that could easily be avoided and putting your retirement financial situation at risk. You can set things right by taking...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Tax Planning
When you take out personal loans to buy a Maine-based small business, you want to maximize the tax write-offs for the resulting interest expense. The tax law in this area can seem complicated. But if you do some research ahead of time and talk with Filler &...
