L&H Insights

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

It’s time for your small business to think about year-end tax planning

Scott Henvey: Oct 8, 2024 2:01:35 PM

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. The...

2 min read

6 key elements of a business budget

Scott Henvey: Sep 5, 2024 12:14:14 PM

2 min read

Are you liable for two additional taxes on your income?

Scott Henvey: Sep 5, 2024 11:52:47 AM

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and...

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...

1 min read

Certain charitable donations allow you to avoid taxable IRA withdrawals

Scott Henvey: Aug 7, 2024 1:11:58 PM

If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to...

2 min read

4 ways businesses can better control cash flow

Scott Henvey: Jul 8, 2024 12:46:28 PM

From the minute they open their doors, business owners are urged to keep a close eye on cash flow. And for good reason — even companies with booming...

2 min read

When do valuable gifts to charity require an appraisal?

Scott Henvey: Jun 5, 2024 2:12:57 PM

If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires...

2 min read

Watch out for “income in respect of a decedent” issues when receiving an inheritance

Maurice La Verdure: May 10, 2024 9:40:23 AM

Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out to be too...

2 min read

Beware of a stealth tax on Social Security benefits

Maurice La Verdure: Apr 16, 2024 3:32:53 PM

Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In...

2 min read

IRAs: Build a tax-favored retirement nest egg

Scott Henvey: Feb 8, 2024 11:55:37 AM

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was...

2 min read

The kiddie tax could affect your children until they’re young adults

Maurice La Verdure: Jan 12, 2024 10:49:22 AM

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead...

2 min read

Choosing a business entity: Which way to go?

Scott Henvey: Nov 8, 2023 12:29:35 PM

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...