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L&H Insights

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Business Owners

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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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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corporate business owners reasonable compensation

2 min read

4 ways corporate business owners can help ensure their compensation is “reasonable”

If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than...

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S Corporation

2 min read

Choosing an entity for your business? How about an S corporation?

If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of...

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advertising expenses

2 min read

Protect the “ordinary and necessary” advertising expenses of your business

Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This...

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C Corp

2 min read

Choosing a business entity? Here are the pros and cons of a C corporation.

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major...

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Intangible Assets

2 min read

Intangible assets: How must the costs incurred be capitalized?

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex.

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2 min read

There still may be time to cut your tax bill with an IRA

If you’re getting ready to file your 2021 tax return, and your tax bill is more than you’d like, there might still be a way to lower it. If you’re...

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research activities

2 min read

The election to apply the research tax credit against payroll taxes

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to...

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sole proprietorships

2 min read

Important tax aspects of operating your business as a sole proprietor

If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your...

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2 min read

Businesses with employees who receive tips may be eligible for a tax credit

If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving...

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save on 2021 taxes as a small business

2 min read

Small businesses: There still may be time to cut your 2021 taxes

Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a few...

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company vehicle

2 min read

Providing a company car? Here’s how taxes are handled

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the...

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