Tax Strategies, Advice & Insights

TAX STRATEGIES, ADVICE, & INSIGHTS

Answers to questions about the CARES Act employee retention tax credit

Posted by L&H CPAs on Apr 6, 2020 10:26:19 AM

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit...

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Tags: Business Owners & Entrepreneurs, Business Owners, Business Consulting

Beware the Ides of March — if you own a pass-through entity

Posted by L&H CPAs on Mar 19, 2019 9:00:00 AM

Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more...

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Tags: Business Owners & Entrepreneurs

Higher Mileage Rate May Mean Larger Tax Deductions for Business Miles in 2019

Posted by L&H CPAs on Mar 12, 2019 9:00:00 AM

This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest level since 2008. As a result, you might be able to claim a larger deduction for...

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Tags: Business Owners & Entrepreneurs

Useful Q4 Tax Calendar for Businesses & Employers

Posted by L&H CPAs on Sep 11, 2018 9:26:00 AM

Here are some of the key tax-related deadlines affecting your businesses during the fourth quarter of 2018. 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...

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Tags: Business Owners & Entrepreneurs

Small Business Entity Choices and QBI Deductions

Posted by L&H CPAs on Aug 8, 2018 11:30:17 AM

The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income from sole proprietorships,...

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Tags: Business Owners & Entrepreneurs

How to Avoid Getting Hit with Payroll Tax Penalties

Posted by L&H CPAs on Aug 1, 2018 10:45:00 AM

For small businesses, managing payroll can be one of the most arduous tasks. Adding to the burden earlier this year was adjusting income tax withholding based on the new tables issued by the IRS. (Those tables account for changes under the Tax...

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Tags: Business Owners & Entrepreneurs

Research Credit Can Offset a Small Business’s Payroll Taxes

Posted by L&H CPAs on Nov 13, 2017 4:01:18 PM

 

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Tags: Business Owners & Entrepreneurs

3 North Texas CPA Firms Merge to form Regional CPA Firm

Posted by L&H CPAs on Nov 7, 2017 11:30:24 AM

La Verdure & Associates, PC; Henvey CPA, LLC; and Atlas Tax Advisors combine operations to form L&H CPAs and Advisors.

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Tags: Business Owners & Entrepreneurs

How to Maximize Deductions for Business Real Estate

Posted by L&H CPAs on Nov 7, 2017 6:04:39 AM

 

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Tags: Business Owners & Entrepreneurs

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