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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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Screenshot 2024-01-11 at 9-19-18 AM

Business Consulting (2)

QBI deduction

2 min read

Maximize the QBI deduction before it’s gone

The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re...

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Commercial loan

2 min read

Applying for a commercial loan with confidence

Few and far between are businesses that can either launch or grow without an infusion of outside capital. In some cases, that capital comes in the...

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Tax-wise ways to take cash from your corporation while avoiding dividend treatment

2 min read

Tax-wise ways to take cash from your corporation while avoiding dividend treatment

If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a...

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businesses can help employees save for retirement

2 min read

Small businesses can help employees save for retirement, too

Many small business owners run their companies as leanly as possible. This often means not offering what are considered standard fringe benefits for...

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Can you write off the costs of spouse on a business trip

2 min read

Taking your spouse on a business trip? Can you write off the costs?

A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit...

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tax considerations if you’re starting a business as a sole proprietor

2 min read

9 tax considerations if you’re starting a business as a sole proprietor

When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need...

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Employee Retention Tax Credit claims

2 min read

Update on IRS efforts to combat questionable Employee Retention Tax Credit claims

The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped...

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what if business buy the wrong software

2 min read

Did your business buy the wrong software?

No one likes to make a mistake. This is especially true in business, where a wrong decision can cost money, time and resources. According to the...

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business mileage rate will be going up slightly in 2024

2 min read

The standard business mileage rate will be going up slightly in 2024

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per...

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Older workers value

2 min read

Is your business underestimating the value of older workers?

The job market remains relatively tight for businesses looking to fill open positions or simply add top talent when the fit is right. That means it’s...

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restricted stock awards and taxes

2 min read

What you need to know about restricted stock awards and taxes

Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock...

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Business Entity

2 min read

Choosing a business entity: Which way to go?

If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you...

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business travel rates

2 min read

New per diem business travel rates kicked in on October 1

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into...

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