How to Reduce the Tax Hit on Soon-to-Be-Developed Land

by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning

Here in the greater Portland area, real estate prices are increasing and development is booming — which is good news for owners of underdeveloped or underutilized land. But if you’re among those who are looking to sell, develop or subdivide a highly appreciated...

What Employers Should Know about HSAs

by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation

With unemployment at record lows — both here in Maine and across the nation — retaining and attracting employees is a high priority for many business owners. So as the year winds down and you look ahead to 2020, one way you can address this issue is by improving your...

Tax Court’s Amazon Valuation Ruling Stands Up to 9th Circuit Scrutiny

by Royer Advisors | Dec 11, 2024 | Court Rulings, Tax Planning, Valuations

Amazon.com, Inc. v. Commissioner The 9th Circuit recently affirmed the U.S. Tax Court’s 2017 decision in favor of Amazon in this key transfer pricing case, finding the governing regulations limited the definition of “intangible” to independently transferable assets....

FAQs about Home Office Deductions

by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation

There are many perks of working from home, including the tax deduction available to many taxpayers who have a home office. However, the Tax Cuts and Jobs Act (TCJA) has effectively eliminated the long-standing home office deduction through 2025. But if you are...

The Clock May Be Ticking on Corporate Stock Redemptions

by Royer Advisors | Dec 11, 2024 | Deductions, Financial Planning, IRS Regulation, Tax Planning

Though the individual federal income tax rates established by the Tax Cuts and Jobs Act (TCJA) aren’t scheduled to expire until the end of 2025, some analysts think they could be repealed sooner. Next year’s presidential election and concerns over an increasing...

Tax Strategies for Seniors

by Royer Advisors | Dec 11, 2024 | Tax Planning

With a median age of 44.6 years, Maine is the oldest state in the country. Our population of people age 65 or older has also grown by over 55,000 in the past seven years. If you’re part of Maine’s large senior population, you should be aware of some age-based tax...