L&H Insights

2 min read

Deduct a loss from making a personal loan to a relative or friend

Scott Henvey: Apr 8, 2025 2:06:16 PM

Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to help by...

1 min read

The 2024 gift tax return deadline is coming up soon

Maurice La Verdure: Mar 10, 2025 10:55:53 AM

If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a...

2 min read

Healthy savings: How tax-smart HSAs can benefit your small business and employees

Maurice La Verdure: Dec 2, 2024 1:02:53 PM

As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a...

2 min read

How inflation will affect your 2024 and 2025 tax bills

Scott Henvey: Dec 2, 2024 12:59:11 PM

Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will...

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

You don’t have to be in business to deduct certain vehicle expenses

Maurice La Verdure: Nov 11, 2024 11:08:23 AM

You don’t have to be in business to deduct certain vehicle expenses When you think about tax deductions for vehicle-related expenses, business...

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

Can homeowners deduct seller-paid points as the real estate market improves?

Scott Henvey: Nov 8, 2024 10:04:18 AM

The recent drop in interest rates has created a buzz in the real estate market. Potential homebuyers may now have an opportunity to attain their...

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...