by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
The IRS has issued much-anticipated regulations regarding the new deduction of up to 20% of qualified business income (QBI) from pass-through entities. The QBI deduction is a major piece of the Tax Cuts and Jobs Act signed into law in December 2017. The deduction will...
by Royer Advisors | Dec 11, 2024 | Tax Planning
The Tax Cuts and Jobs Act (TCJA) sets a new limit on deductions for business interest expense. This is a permanent change for tax years beginning in 2018 with no end date. Will your Maine business be affected? Here’s what you need to know. How Have the Rules Changed?...
by Royer Advisors | Dec 11, 2024 | Tax Planning
More guidance has been issued by the IRS in regards to the Tax Cuts and Jobs Act (TCJA), signed into law in December 2017. This time the topic is the calculation of unrelated business taxable income (UBTI) for tax-exempt organizations and any separate trade or...
by Royer Advisors | Dec 11, 2024 | Exemptions, IRS Regulation, Tax Planning
There are a number of important tax changes for individuals and businesses in the Tax Cuts and Jobs Act (TCJA). It can be hard to keep track of which changes are permanent and which are scheduled to expire at the end of 2025 without Congress extending them. Here is a...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning
The Tax Cuts and Jobs Act (TCJA) provides new and improved tax incentives for buying new and used business equipment for tax years starting in 2018. Some taxpayers may still see benefits from leasing though. When deciding which way to go, here are some important...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
Of all the changes under the Tax Cuts and Jobs Act (TCJA), one of the biggest is the permanent installation of a flat 21% federal income tax rate for C corporations for tax years beginning after 2017. This new 21% applies equally to personal service corporations...
