TAX STRATEGIES, ADVICE, & INSIGHTS

Automatic Extension Available for Making Portability Election

Posted by L&H CPAs on Jan 10, 2019 8:23:00 AM

Portability allows a surviving spouse to apply a deceased spouse’s unused estate tax exemption amount toward his or her own transfers during life or at death.

Read More

Tags: Estate Planning

Here We Grow Again!

Posted by L&H CPAs on Jan 9, 2019 9:17:24 AM

L&H CPAs, one of REGION’S fastest-growing CPA firms, COMPLETES SECOND double merger In 18 months.

Read More

Tags: Taxes

DAPT-Better Than a Prenup for Protecting Family Assets

Posted by L&H CPAs on Jan 9, 2019 7:15:00 AM

If you or one of your adult children is getting married, you may be concerned about protecting your family’s assets in the event of a divorce.

Read More

Tags: Estate Planning

Liquidity is an Issue? An Intrafamily Loan Can Cover Estate Taxes

Posted by L&H CPAs on Jan 8, 2019 8:59:00 AM

 

Sometimes estates that are large enough for estate taxes to be a concern are asset rich but cash poor, without the liquidity needed to pay those taxes. An intrafamily loan is one option.

Read More

Tags: Estate Planning

Unleash the Benefits of a Nonspringing Power of Attorney

Posted by L&H CPAs on Jan 4, 2019 9:27:00 AM

 

Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself. A crucial component of this plan is the power of attorney (POA) • specifically, a nonspringing POA.

Read More

Tags: Estate Planning

Tax Reform & Cash Accounting for Your Business

Posted by L&H CPAs on Jan 3, 2019 7:50:00 AM

 

Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly eligible businesses should determine whether the cash method would be advantageous and, if so, consider switching methods.

Read More

Tags: Business Owners & Entrepreneurs

Read This Before You Name a Trust as IRA Beneficiary

Posted by L&H CPAs on Jan 2, 2019 9:40:53 AM

An IRA is a popular vehicle to save for retirement, and it can also be a powerful estate planning tool. Some people designate a trust as beneficiary of their IRAs, but is that a good idea? The answer: possibly.

Read More

Tags: Estate Planning

2019 Q1 Tax Calendar: Key Deadlines for Businesses

Posted by L&H CPAs on Dec 27, 2018 8:22:00 AM

Here are some of the key tax-related deadlines affecting businesses and other

employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.

Read More

Tags: Business Owners & Entrepreneurs

Catch-up Retirement Plan Contributions Can Be Particularly Advantageous Post-TCJA

Posted by L&H CPAs on Dec 26, 2018 6:54:00 AM

Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions can be particularly advantageous if your itemized deductions for 2018 will be smaller than in the past because of changes under the Tax Cuts and Jobs Act (TCJA).

Read More

Tags: Retirement Planning

Review and Revise Your Estate Plan to Reflect Life Changes During the past Year

Posted by L&H CPAs on Dec 24, 2018 7:24:00 AM

Your estate plan shouldn’t be a static document. It needs to change as your life changes. Year end is the perfect time to check whether any life events have taken place in the past 12 months or so that affect your estate plan.

Read More

Tags: Estate Planning

Contact L&H CPAs and Advisors Today

Welcome to your L&H Insights!

Your specialists in holistic financial management solutions. Our firm provides accounting, tax planning, CFO services, business consulting, and wealth advisory services to manage your complete financial needs. 

Subscribe to Email Updates

Recent Posts