by Royer Advisors | Dec 11, 2024 | Accounting Standards, IRS Regulation, Tax Planning, Tax Preparation
If your Maine small business reimburses employees for actual travel expenses, then you know the process of submitting and approving expense reports for business travel can be an administrative hassle. Fortunately, the IRS offers simplified alternatives that can save...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
On September 29, 2017, a new law was signed by President Trump providing various tax breaks for victims of Hurricanes Harvey, Irma and Maria. Among them is a valuable tax credit for eligible employers affected by the devastating hurricanes. An “employee retention...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
In July, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. For years, people have questioned the viability of the Social Security system going forward. The report projects that the...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The next federal highway use tax return is due on August 31, 2017, so the IRS wants to remind truckers and other owners of heavy highway vehicle. Generally, the deadline applies to IRS Form 2290 and the accompanying tax payment for the tax year that begins on July 1,...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The top line of your company’s income statement is revenue. So, it tends to receive a lot of attention from investors, lenders and other stakeholders. Why? It’s a telltale sign whether your company is growing or declining based on changes in revenue. Moreover,...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
A tax assessment by the IRS is generally presumed to be correct, but a taxpayer can overcome the presumption with proof. However, that situation is reversed when the IRS asserts fraud. In those instances, the IRS must prove, by clear and convincing evidence that fraud...
