L&H Insights

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...

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...