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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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Business Consulting

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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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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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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Tax consideration when growing a business with a new partner.

2 min read

Growing your business with a new partner: Here are some tax considerations

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners...

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Business expenses paid by partners

2 min read

When partners pay expenses related to the business

It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships...

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Health care insurance for business owners for employees

2 min read

Health care self-insurance and stop-loss coverage: What business owners need to know

For businesses, cost-effectively sponsoring a health insurance plan for employees is an ongoing battle. In the broadest sense, you have two options:...

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Businesses income and deductions

2 min read

When businesses may want to take a contrary approach with income and deductions

Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise...

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Tax favored retirement plan

2 min read

Don’t have a tax-favored retirement plan? Set one up now

If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for...

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Section 179 tax deductions with depreciation

2 min read

Coordinating Sec. 179 tax deductions with bonus depreciation

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in...

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Health insurance health care plan, employer-sponsored health insurance plans

2 min read

Should your business change its health care plan for next year?

Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their...

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