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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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solo business and 401(k)

2 min read

Solo business owner? There’s a 401(k) for that

If you own a successful small business with no employees, you might be ready to set up a retirement plan. Now a 401(k) might seem way out of your...

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business tax return

2 min read

Starting a business? How expenses will be treated on your tax return

Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports...

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What you can deduct when traveling

2 min read

Traveling for business this summer? Here’s what you can deduct

If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to...

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Real estate, real estate depreciation deductions

2 min read

Advantages and disadvantages of claiming big first-year real estate depreciation deductions

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over...

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Q3 tax calendar deadlines

1 min read

2023 Q3 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list...

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Tax code to make business losses less painful

2 min read

Use the tax code to make business losses less painful

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing...

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Questions after filing your tax return

2 min read

Questions you may still have after filing your tax return

If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions may still...

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what to do with Sizable Inheritance

2 min read

You’ve received a sizable inheritance: Now what?

If you’ve received, or will soon receive a significant inheritance, it may be tempting to view it as “found money” that can be spent freely. But...

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Hiring independent contractors and tax

2 min read

If you’re hiring independent contractors, make sure they’re properly handled

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures....

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Tax and retirement

2 min read

4 tax challenges you may encounter if you’re retiring soon

4 tax challenges you may encounter if you’re retiring soon Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle...

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Business expenses

2 min read

Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete...

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2 min read

The IRS clarifies what counts as qualified medical expenses

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked...

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2 min read

Education benefits help attract, retain and motivate your employees

One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial...

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