Tax Strategies, Advice & Insights

TAX STRATEGIES, ADVICE, & INSIGHTS

L&H CPAs

Recent Posts

Don’t Worry! a Broken Trust Can Be Fixed

Posted by L&H CPAs on Nov 12, 2019 8:22:57 AM

There are good reasons why estate planning advisors recommend you revisit and, if necessary, revise your estate plan periodically: changing circumstances, including family situations and new tax laws. While it’s relatively simple to change a...

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Tags: Estate Planning

Selling Securities by Year End? Avoid the Wash Sale Rule

Posted by L&H CPAs on Nov 12, 2019 8:15:31 AM

If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule.

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Tags: Taxes

Accelerate Depreciation Deductions with a Cost Segregation Study

Posted by L&H CPAs on Nov 12, 2019 8:06:58 AM

Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain...

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Tags: Business Owners & Entrepreneurs

Who Needs an Estate Plan? You Do!

Posted by L&H CPAs on Oct 29, 2019 9:40:29 AM

 

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Tags: Estate Planning

Use a Coverdell ESA to Help Pay College, Elementary and Secondary School Costs

Posted by L&H CPAs on Oct 29, 2019 9:37:31 AM

There are several ways to save for your child’s or grandchild’s education, including with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for contributions made to an ESA, the earnings...

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Tags: Taxes

Setting up a Health Savings Account for Your Small Business

Posted by L&H CPAs on Oct 29, 2019 9:32:14 AM

Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs offer a tax-advantaged way...

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Tags: Business Owners & Entrepreneurs

Leave a Philanthropic Legacy with a Charitable Remainder Trust

Posted by L&H CPAs on Oct 13, 2019 2:53:37 PM

Let’s say you’re charitably inclined but have concerns about maintaining a sufficient amount of income to meet your current needs. The good news is that there’s a trust for that: a charitable remainder trust (CRT). This type of trust allows you...

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Tags: Estate Planning

Watch out for tax-related scams

Posted by L&H CPAs on Oct 13, 2019 2:49:15 PM

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. Criminals can contact victims through regular mail, telephone calls and email messages. Here are just two of the scams the tax...

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Tags: Taxes

Is a Self-Directed IRA Right for You?

Posted by L&H CPAs on Oct 13, 2019 2:41:33 PM

Traditional and Roth IRAs can be powerful estate planning tools. With a “self-directed” IRA, you may be able to amp up the benefits of these tools by enabling them to hold nontraditional investments that offer potentially greater returns....

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Tags: Estate Planning

Take Advantage of the Gift Tax Exclusion Rules

Posted by L&H CPAs on Oct 13, 2019 2:38:00 PM

As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the...

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Tags: Taxes

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