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 | IRS Regulation, Tax Planning, Tax Preparation
The U.S. corporate tax rate has historically been among the highest in the world. The DPAD (domestic production activities deduction) was created by Congress years ago to help even out the playing field between American manufacturers and their competitors operating in...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning
Summer jobs remain an effective way for kids to learn about fiscal responsibility, save for college or even retirement, and supplement their spending money for the next school year. If you’re a Maine business owner, think about hiring your child or grandchild as a...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Financial Planning, Tax Planning
A new U.S. Supreme Court ruling paves the way for states such as Maine to require Internet sellers to collect sales tax from consumers — even when they don’t have a physical presence in the state. (South Dakota v. Wayfair, No. 17-494, June 21, 2018) With...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
Are your employees having enough money withheld from their regular paychecks? The Tax Cuts and Jobs Act (TCJA) has made a number of significant changes to the tax rules for individuals for 2018 through 2025. Consequently, many taxpayers, in Maine and elsewhere, who...
