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L&H Insights

Tax Strategies, Advice, and Insights

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To help you understand the implications of the recent Corporate Transparency Act

We have prepared a selection of frequently asked questions.

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Screenshot 2024-01-11 at 9-19-18 AM
buy-sell agreement for business co-owners

2 min read

If your business has co-owners, you probably need a buy-sell agreement

Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a...

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Certain charitable donations allow you to avoid taxable IRA withdrawals

1 min read

Certain charitable donations allow you to avoid taxable IRA withdrawals

If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to...

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borrowing from your corporation

2 min read

Consider borrowing from your corporation but structure the deal carefully

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s...

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What might be ahead as many tax provisions are scheduled to expire?

2 min read

What might be ahead as many tax provisions are scheduled to expire?

Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections.

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Social Security tax update

3 min read

Social Security tax update: How high can it go?

Employees, self-employed individuals, and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people...

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Family Business

2 min read

How family businesses can solve the compensation puzzle

Every type of company needs to devise a philosophy, strategy and various policies regarding compensation. Family businesses, however, face additional...

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Business Cash Flow

2 min read

4 ways businesses can better control cash flow

From the minute they open their doors, business owners are urged to keep a close eye on cash flow. And for good reason — even companies with booming...

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Inflation enhances the 2025 amounts for Health Savings Accounts

2 min read

Inflation enhances the 2025 amounts for Health Savings Accounts

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each...

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Succession planning for business

2 min read

Timelines: 3 ways business owners should look at succession planning

Business owners are rightly urged to develop succession plans so their companies will pass on to the next generation, or another iteration of...

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You may be entitled to tax breaks if caring for an elderly relative

2 min read

You may be entitled to tax breaks if caring for an elderly relative

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing...

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Should you convert your business from a C to an S corporation

2 min read

Should you convert your business from a C to an S corporation?

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole...

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strategy to save tax when selling appreciated vacant land

2 min read

A three-step strategy to save tax when selling appreciated vacant land

Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated...

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Tax tips when buying the assets of a business

2 min read

Tax tips when buying the assets of a business

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you...

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