L&H Insights

2 min read

Help ensure your partnership or LLC complies with tax law

Scott Henvey: Oct 8, 2024 2:13:11 PM

When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated...

2 min read

6 key elements of a business budget

Scott Henvey: Sep 5, 2024 12:14:14 PM

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Navigating tax complexities: Craft partnership agreements and LLC operating agreements with precision

Maurice La Verdure: Sep 5, 2024 11:52:19 AM

Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A...

2 min read

Understanding taxes on real estate gains

Scott Henvey: Sep 5, 2024 11:31:30 AM

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect...

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The possible tax landscape for businesses in the future

Scott Henvey: Aug 7, 2024 1:25:42 PM

Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The...

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Business website expenses: How they’re handled for tax purposes

Maurice La Verdure: Aug 7, 2024 1:22:42 PM

Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted.

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Closing a business involves a number of tax responsibilities

Scott Henvey: Aug 7, 2024 1:16:42 PM

While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses to close...

2 min read

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

Maurice La Verdure: Aug 7, 2024 1:15:04 PM

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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Consider borrowing from your corporation but structure the deal carefully

Maurice La Verdure: Aug 7, 2024 1:02:22 PM

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...

2 min read

How family businesses can solve the compensation puzzle

Maurice La Verdure: Jul 8, 2024 12:51:04 PM

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

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4 ways businesses can better control cash flow

Scott Henvey: Jul 8, 2024 12:46:28 PM

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...

2 min read

Inflation enhances the 2025 amounts for Health Savings Accounts

Maurice La Verdure: Jun 6, 2024 9:39:54 AM

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

2 min read

Timelines: 3 ways business owners should look at succession planning

Scott Henvey: Jun 6, 2024 9:29:14 AM

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