by Royer Advisors | Dec 11, 2024 | Deductions, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
Vacation properties in Maine are subject to different federal income tax rules depending on how much personal and rental use they have during the year. Now is a good time to plan how to use your Maine vacation property for the rest of this year with tax savings in...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation, Valuations
One of the best times to pause and review your financial planning strategy is Fall. A lot can happen in a year. You may need to revise your long-term financial plans if your personal life, market conditions or tax laws have changed. Here are some retirement and estate...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
The Social Security system has been questioned by people for years. In June, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. It projects that the combined asset reserves of the...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The time for filing last year’s individual federal income tax return passed you by in April, unless you’ve extended the due date to October 17. What if you didn’t extend and you haven’t yet filed your Form 1040? And what if you can’t pay your tax...
by Royer Advisors | Dec 11, 2024 | Divorce Litigation, IRS Regulation, Tax Planning, Tax Preparation, Valuations
If divorcing spouses own part of the stock in a closely held corporation, this may be one of their biggest marital assets, and often one spouse decides to buy out the other party’s shares by transferring some assets in exchange for the stock. However, it’s...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
Charitable giving is on the rise, and given the natural disasters and human tragedies that have happened in recent months, the momentum is expected to continue. Charitable donations reached an all-time high last year of approximately $373.25 billion, according...
