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L&H Insights

Tax Strategies, Advice, and Insights

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Appreciated Assets

1 min read

Run The Numbers Before Donating Appreciated Assets To Charity

Are you charitably inclined? If so, you probably know that donations of long-term appreciated assets, such as stocks, have an advantage over cash donations. But in some cases, selling appreciated assets and donating the proceeds may be a better...

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Mileage

2 min read

The Standard Business Mileage Rate Is Going Up In 2023

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of...

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Secure 2.0

2 min read

SECURE 2.0 Law May Make You More Secure In Retirement

A new law was recently signed to help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting...

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QBI

1 min read

Can You Qualify For The QBI Deduction In 2022?

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the...

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Wash Sale

2 min read

Selling stock by year-end? Watch out for the wash sale rule.

If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for the “wash...

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C Corp

2 min read

Choosing a business entity? Here are the pros and cons of a C corporation.

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major...

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Intangible Assets

2 min read

Intangible assets: How must the costs incurred be capitalized?

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex.

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inflation

2 min read

How Inflation Will Affect Your 2022 And 2023 Tax Bills

The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you...

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2 min read

How Savings Bonds Are Taxed

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them...

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gift tax

2 min read

Annual Gift Tax Exclusion Amount Increases For 2023

Did you know that one of the most effective estate-tax-saving techniques is also one of the simplest and most convenient? By making maximum use of...

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Tax Savings

2 min read

Year-End Tax Planning Ideas For Individuals

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next.

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IRS Audit

2 min read

Worried about an IRS audit? Prepare in advance.

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your...

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Trusts

2 min read

Trusting A Trust To Keep Your Assets Secure

Whether the economic climate is stable or volatile, one thing never changes: the need to protect your assets from risk. Hazards may occur as a result...

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