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L&H Insights

Tax Strategies, Advice, and Insights

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Investment Advisory & Wealth Mangement

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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defined value

2 min read

Defined-value gifts: Plan carefully to avoid unpleasant tax surprises

For 2022, the federal gift and estate tax exemption has reached its highest level ever. In fact, you can transfer up to $12.06 million by gift or...

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1 min read

Owning real estate in more than one state may multiply probate costs

One goal of estate planning is to avoid or minimize probate. This is particularly important if you own real estate in more than one state. Why?...

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2 min read

Avoiding undue influence claims

A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you die. But if a family member...

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2 min read

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 remainder...

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reduce your federal tax liability

1 min read

With year-end approaching, 3 ideas that may help cut your tax bill

If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three quick...

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review your estate plan

2 min read

Prepare for a new year by reviewing your estate plan

Hopefully, you already have a sound estate plan in place to protect the interests of your heirs and minimize potential estate tax liability. But that...

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1 min read

Do you have a will?

The need for a will as a key component of your estate plan may seem obvious, but you’d be surprised by the number of people — even affluent...

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2 min read

Feeling generous at year end? Strategies for donating to charity or gifting to loved ones

As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic...

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Are you leery about visiting your advisor’s office to attend to estate planning documents?

2 min read

Estate planning in a socially distanced environment

As many states continue to struggle with the current surge in COVID-19 cases, the “new normal” demands continued social distancing in many areas of...

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If your child receives a scholarship, is the amount taxable income?

2 min read

Scholarships are usually tax free but may result in taxable income

If your child is fortunate enough to be awarded a scholarship, you may wonder about the tax implications. Fortunately, scholarships (and fellowships)...

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2 min read

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 may be...

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2 min read

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 a debt...

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