Run The Numbers Before Donating Appreciated Assets To Charity

Are you charitably inclined? If so, you probably know that donations of long-term appreciated assets, such as stocks, have an advantage over cash donations. But in some cases, selling appreciated assets and donating the proceeds may be a better strategy. That’s because adjusted gross income (AGI) li..........

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Scott Henvey
Scott Henvey

16 January, 2023

Executives, Accounting Services, Business Owners, smallbusiness

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 ava..........

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Maurice La Verdure
Maurice La Verdure

9 March, 2022

Business Owners & Entrepreneurs, Taxes, Executives, Business Consulting, smallbusiness, Tax Audit

Commission fraud: When salespeople get paid more than they’ve earned

Many employees — from retail workers to sales staffers involved in complex business-to-business transactions — receive part of their compensat..........

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Scott Henvey
Scott Henvey

20 January, 2022

Investing, Taxes, Executives, Tax Reform, Planning, Investment Advisory & Wealth Mangement

With proper planning, a charitable remainder trust can replicate a “stretch” IRA

The “stretch” IRA generally no longer exists. But if you have a substantial balance in a traditional IRA, a properly designed charitable remai..........

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Maurice La Verdure
Maurice La Verdure

12 January, 2022

Taxes, Executives, Tax Reform, Planning, Business Owners, smallbusiness

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 in..........

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Scott Henvey
Scott Henvey

12 January, 2022

Taxes, Executives, Tax Reform, Planning, Retirees, Divorcees and Widows

How will revised tax limits affect your 2022 taxes?

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. Th..........

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Maurice La Verdure
Maurice La Verdure

12 January, 2022

Business Owners & Entrepreneurs, Investing, Taxes, Executives, Tax Reform

Is a significant portion of your wealth concentrated in a single stock?

Estate planning and investment risk management go hand in hand. After all, an estate plan is effective only if you have some wealth to transfe..........

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Scott Henvey
Scott Henvey

1 October, 2021

Taxes, Executives, Tax Reform, Business Owners, smallbusiness

Tax depreciation rules for business automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, ..........

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Maurice La Verdure
Maurice La Verdure

27 September, 2021

Taxes, Executives, Tax Reform, Planning, Business Owners, smallbusiness

Claiming theft loss deduction if business is victim of embezzlement

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does b..........

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Scott Henvey
Scott Henvey

16 September, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Planning, Business Owners, smallbusiness

Tax breaks to consider during National Small Business Week

The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here..........

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Maurice La Verdure
Maurice La Verdure

14 September, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Planning, Business Owners, Divorcees and Widows, smallbusiness

Getting a divorce? Be aware of tax implications if you own a business

If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your bi..........

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Scott Henvey
Scott Henvey

30 August, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Business Owners, smallbusiness, Tax Audit

Does your employer provide life insurance? See the tax consequences

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and the c..........

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Maurice La Verdure
Maurice La Verdure

26 August, 2021

Business Owners & Entrepreneurs, Executives, Business Owners, Business Consulting, smallbusiness, Tax Audit

Large cash transactions with your business must be reported to the IRS

If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS.

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Scott Henvey
Scott Henvey

24 August, 2021

Business Owners & Entrepreneurs, Retirement Planning, Executives, Retirees, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

With a self-directed IRA, you choose your own investments

If you’re the type who would rather order ala carte rather than a set entrée, you might prefer a “self-directed” IRA. With this option, you ma..........

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Maurice La Verdure
Maurice La Verdure

20 August, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Retirees, Business Owners, Investment Advisory & Wealth Mangement

Possible tax consequences of guaranteeing a loan to your corporation

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of..........

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Maurice La Verdure
Maurice La Verdure

18 August, 2021

Taxes, Executives, Tax Reform, Business Owners, Business Consulting, Tax Audit

Deductibility of corporate expenses covered by officers/shareholders

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up bei..........

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Maurice La Verdure
Maurice La Verdure

26 July, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Tax Reform, Business Owners, smallbusiness

Hiring your minor children this summer? Reap tax and nontax benefits

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-t..........

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Maurice La Verdure
Maurice La Verdure

8 July, 2021

Taxes, Executives, Tax Reform, Retirees, Business Owners, Divorcees and Widows, smallbusiness

Still have questions after you file your tax return?

Even after your 2020 tax return has been successfully filed with the IRS, you may still have some questions about the return. Here are brief answers t..........

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Scott Henvey
Scott Henvey

6 July, 2021

Business Owners & Entrepreneurs, Executives, Planning, Business Owners, Business Consulting, smallbusiness

Are you holding a joint title to property with a family member?

Owning assets jointly with one or more of your children or other heirs is a common estate planning “shortcut.” But like many shortcuts, it may..........

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Maurice La Verdure
Maurice La Verdure

1 July, 2021

Business Owners & Entrepreneurs, Executives, Planning, Business Owners, Business Consulting, smallbusiness

Recordkeeping DOs and DON’Ts for business meal and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomp..........

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Scott Henvey
Scott Henvey

29 June, 2021

Taxes, Executives, Tax Reform, Planning, Business Owners, smallbusiness

Traveling for business again? What can you deduct?

As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are a number of rules for d..........

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Maurice La Verdure
Maurice La Verdure

24 June, 2021

Executives, Tax Reform, Planning, Retirees, Text Preparation Planning, Business Owners, Divorcees and Widows, Investment Advisory & Wealth Mangement

Help guide your family with a road map for your estate plan

You’ve likely spent a lot of time working with your advisor to plan your estate. While documents such as your will, various trusts and a power..........

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Scott Henvey
Scott Henvey

22 June, 2021

Business Owners & Entrepreneurs, Estate Planning, Executives, Planning

Estate planning in the FAST lane

Traditionally, estate planning has focused on more technical objectives, such as minimizing gift and estate taxes and protecting assets against credit..........

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Maurice La Verdure
Maurice La Verdure

18 June, 2021

Retirement Planning, Taxes, Estate Planning, Executives, Retirees, Investment Advisory & Wealth Mangement

Retiring soon? 4 tax issues you may face

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications...........

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Maurice La Verdure
Maurice La Verdure

17 June, 2021

Taxes, Executives, Planning

2021 Q3 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list ..........

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Scott Henvey
Scott Henvey

17 June, 2021

Estate Planning, Executives, Planning, Retirees

Members of the sandwich generation find themselves in a unique situation

The “sandwich generation” is a large segment of the population. These are people who find themselves caring for both their children and their parents ..........

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Maurice La Verdure
Maurice La Verdure

17 June, 2021

Business Owners & Entrepreneurs, Taxes, Executives, smallbusiness

Tax filing deadline is coming up: What to do if you need more time

"Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed..........

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Scott Henvey
Scott Henvey

14 May, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Tax Reform, smallbusiness

Simple retirement savings options for your small business

Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrat..........

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Scott Henvey
Scott Henvey

29 April, 2021

Business Owners & Entrepreneurs, Executives, Retirees, Business Owners, Physicians

There’s still time to make a deductible IRA contribution for 2019

Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the 2019 tax year between now and the extended ..........

Read More
Scott Henvey
Scott Henvey

14 July, 2020

Business Owners & Entrepreneurs, Executives, Retirees, Business Owners, Physicians, Divorcees and Widows

Do you have tax questions related to COVID-19? Here are some answers

The coronavirus (COVID-19) pandemic has affected many Americans’ finances. Here are some answers to questions you may have right now.

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L&H CPAs
L&H CPAs

14 July, 2020

Business Owners & Entrepreneurs, Executives, Retirees, Physicians, Divorcees and Widows

IRA account value down? It might be a good time for a Roth conversion

The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. But if you have a traditional IRA, this downturn may provide a..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Business Owners & Entrepreneurs, Executives, Retirees, Physicians, Divorcees and Widows

Answers to questions you may have about Economic Impact Payments

Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part ..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Executives, Retirees, Business Owners, Physicians, Divorcees and Widows

COVID-19: IRS announces more relief and details

In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Executives, Tax Reform

LHCPA Post 5

What is Lorem Ipsum?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ..........

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L&H CPAs
L&H CPAs

14 July, 2020

Executives

Deferral of Income Tax for Executives

If you’re an executive or other key employee, your employer may offer you a nonqualified deferred compensation (NQDC) plan. What do you need to do before year end to defer taxes? 

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L&H CPAs
L&H CPAs

14 July, 2020

Executives

Saving Tax on Restricted Stock Awards


Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex —..........

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L&H CPAs
L&H CPAs

13 June, 2020

Executives

2 ACA Taxes That May Apply to Your Exec Comp

If you’re an executive or other key employee, you might be rewarded for your contributions to your company’s success with compensation such as restricted stock, stock options or nonqualified deferr..........

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L&H CPAs
L&H CPAs

13 June, 2020

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