by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Tax Planning, Tax Preparation
You may be able to deduct the costs of maintaining an office at home, if you’re self-employed in Maine as a sole proprietor, partner, or LLC member. But before you start jumping for joy, it’s important to note that in order to claim a business deduction for an...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
The new year brought some good news from the IRS for Maine Employers. They announced that the due dates for filing 2015 Affordable Care Act (ACA) information returns have been extended. This gives employers extra time to provide the forms to the recipients, and file...
by Royer Advisors | Dec 11, 2024 | Deductions, IRS Regulation, Tax Planning, Tax Preparation
Health Savings Accounts (HSAs) allow individuals and businesses to buy less expensive health insurance policies with high deductibles, and contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax free, and be withdrawn...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
How It Works You can immediately write off up to $25,000 of the cost of a new or used heavy SUV, pickup or van thanks to the Section 179 deduction privilege. The vehicle must be placed in service by the end of your business tax year beginning in 2015 and used over 50%...
by Royer Advisors | Dec 11, 2024 | Business Plans, Tax Planning, Tax Preparation
A well-executed inventory count can provide valuable insight into improving operational efficiency for your Maine-based company, even if they seem time consuming and disruptive. Unfortunately, inventory counts are among the most dreaded chores for business owners and...
by Royer Advisors | Dec 11, 2024 | Court Rulings, IRS Regulation, Tax Preparation, Valuations
Kardash v. Commissioner, 2015 Tax Ct. Memo LEXIS 69 (March 18, 2015) A Tax Court memo resulting from a transferee liability case includes an informative discussion of the valuation methodologies the parties’ solvency experts used to determine the company’s fair market...
