by Royer Advisors | Dec 11, 2024 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation
A federal income tax credit called the Work Opportunity tax credit (WOTC) is available to businesses that hire members of certain “targeted” groups. Here’s how your business may be able to benefit from this potentially lucrative tax break. The Basics...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Considering selling real estate in Maine before the end of the year? Most likely you hope to entice a qualified buyer who has plenty of cash on hand. But being open to the idea of an installment sale may help you seal the deal, and fortunately, installment sales also...
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...
by Royer Advisors | Dec 11, 2024 | Business Plans, Fraud Prevention, IRS Regulation, Tax Planning, Tax Preparation
Over the last two years the IRS and state tax authorities have made significant strides in curbing individual identity theft. But cyberattacks against businesses are on the upswing. Here are some simple ways business taxpayers can help protect their data from hackers....
by Royer Advisors | Dec 11, 2024 | Deductions, Exemptions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
You may be considered part of the “sharing economy” (also known as the Gig or on-demand economy) in Maine if you provide car rides through a mobile app, rent out your spare room using an online platform or repair computers for local businesses on demand....
