by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
April 22 was Earth Day. It’s a great reminder to consider implementing changes to help reduce the amount of energy we consume. But “going green” isn’t just good for the Earth — certain energy-saving expenditures also may qualify for generous tax...
by Royer Advisors | Dec 11, 2024 | IRS Regulation, Tax Planning, Tax Preparation
Does your business hold on to all of its paper records? Many individuals and businesses hold onto paper and digital records indefinitely — just in case. But it can become burdensome to securely store years of financial records. Here’s some guidance to help...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The first-year depreciation deductions for vehicles used more than 50% for business purposes has been expanded by the Tax Cuts and Jobs Act (TCJA). Here’s what Maine small business owners need to know to take advantage. Depreciation Allowances for Passenger...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning, IRS Regulation, Tax Planning, Tax Preparation
The Tax Cuts and Jobs Act (TCJA) introduced a flat 21% federal income tax rate for C corporations for the 2018 tax years and beyond. Previously, profitable C corporations paid up to 35%. This news has caused many business owners in Maine and elsewhere to ask: What is...
by Royer Advisors | Dec 11, 2024 | Financial Planning, IRS Regulation, Tax Planning, Tax Preparation, Uncategorized
Bitcoin has been around for almost 10 years. But the tax rules associated with “virtual currency” are constantly evolving. In 2018, tax matters will become even more complicated for because relevant provisions of the Tax Cuts and Jobs Act take effect...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Tax Planning, Tax Preparation
Back in 1969 the alternative minimum tax (AMT) was enacted to ensure that high-income individuals don’t take advantage of multiple tax breaks and avoid paying federal tax. However, in recent years, the AMT has been imposed on many middle-income taxpayers....
