Skip to the main content.
972.421.1099 Get Started
972.421.1099 Get Started

L&H Insights

Tax Strategies, Advice, and Insights

Sign Up Today

2 min read

The Inflation Reduction Act: what’s in it for you?

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends and modifies many climate and energy-related...

Read More
High income tax

2 min read

Is your income high enough to owe two extra taxes?

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment...

Read More
trustee

1 min read

Does your trust provide for the removal of a trustee?

To ensure that a trust operates as intended, it’s critical to appoint a trustee that you can count on to carry out your wishes. But to avoid...

Read More

2 min read

How to avoid the early withdrawal tax penalty on IRA distributions

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on early withdrawals...

Read More
Website Costs

2 min read

How to treat business website costs for tax purposes

These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted.

Read More
Wittholding

1 min read

Is your tax withholding adequate? Here’s how to check

When you filed your federal tax return this year, were you surprised to find you owed money? You might want to change your withholding so that this...

Read More
closing

2 min read

The tax obligations if your business closes its doors

The tax obligations if your business closes its doors Sadly, many businesses have been forced to shut down recently due to the pandemic and the...

Read More
GST

2 min read

The GST tax and your estate plan: What you need to know

The GST tax and your estate plan: What you need to know Here’s a not-so-fun fact: The generation-skipping transfer (GST) tax is among the harshest...

Read More
transaction

2 min read

How do taxes factor into an M&A transaction?

How do taxes factor into an M&A transaction? Although merger and acquisition activity has been down in 2022, according to various reports, there are...

Read More
Estate Planning

2 min read

Your estate plan: Don’t forget about income tax planning

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with the federal estate...

Read More

2 min read

Understanding the increase in mileage deduction.

Businesses will soon be able to deduct more under the standard mileage rate Business owners are aware that the price of gas is historically high,...

Read More
college estate planning

1 min read

4 estate planning documents your college-aged child should have

Does your college-aged child have a basic estate plan? In more cases than not, the answer is “no.” The good news is that the summer months are the...

Read More
hobby business

2 min read

Want to turn a hobby into a business? Watch out for the tax rules

Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if your new business is...

Read More