L&H Insights

2 min read

Get tax breaks for energy-saving purchases this year because they may disappear

Scott Henvey: Dec 2, 2024, 12:45:26 PM

The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of...

3 min read

From flights to meals: A guide to business travel tax deductions

Scott Henvey: Nov 11, 2024, 11:11:09 AM

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel...

2 min read

How can you build a golden nest egg if you’re self-employed?

Scott Henvey: Nov 11, 2024, 11:04:53 AM

If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is...

2 min read

Employers: In 2025, the Social Security wage base is going up

Scott Henvey: Nov 11, 2024, 10:57:07 AM

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base...

2 min read

Is your money-losing activity a hobby or a business?

Maurice La Verdure: Nov 11, 2024, 10:53:38 AM

Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom artwork or...

2 min read

Working capital management is critical to business success

Maurice La Verdure: Nov 8, 2024, 10:13:55 AM

Success in business is often measured in profitability — and that’s hard to argue with. However, liquidity is critical to reaching the point where a...

2 min read

Advantages of keeping your business separate from its real estate

Maurice La Verdure: Nov 8, 2024, 10:07:01 AM

Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering...

1 min read

2024 Q4 tax calendar: Key deadlines for businesses and other employers

Scott Henvey: Oct 8, 2024, 2:18:58 PM

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this...

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

2 min read

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...

2 min read

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.

2 min read

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...