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L&H Insights

Tax Strategies, Advice, and Insights

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To help you understand the implications of the recent Corporate Transparency Act

We have prepared a selection of frequently asked questions.

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smallbusiness

Developing a comprehensive AI strategy for your business

2 min read

Developing a comprehensive AI strategy for your business

We’ve reached a point where artificial intelligence (AI) offers functionality and enhancements to most businesses. Yours may be able to use it to...

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What the new tax law could mean for you OBBBA

3 min read

What the new tax law could mean for you

As 2025 began, individual taxpayers faced uncertainty with several key provisions of the tax law that were set to expire at the end of the year. That...

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Business expense deductions

2 min read

DOs and DON’Ts to help protect your business expense deductions

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

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Safe harbor 401(k)s offer businesses - a retirement plan

2 min read

Safe harbor 401(k)s offer businesses a simpler route to a retirement plan

When many small to midsize businesses are ready to sponsor a qualified retirement plan, they encounter a common obstacle: complex administrative...

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Addressing estate and succession planning for family business

2 min read

Family business focus: Addressing estate and succession planning

The future often weighs heavier on the shoulders of family business owners. Their companies aren’t just “going concerns” with operating assets, human...

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How your business can sharpen its marketing strategy

2 min read

How your business can sharpen its marketing strategy

Creating a marketing strategy for any company isn’t a “one and done” activity. As you’ve no doubt experienced, the approach you use to connect with...

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Hiring independent contractors, Understanding worker classification

2 min read

Hiring independent contractors? Make sure you’re doing it right

Many businesses turn to independent contractors to help manage costs, especially during times of staffing shortages and inflation. If you’re among...

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Corporate business owners: Is your salary reasonable in the eyes of the IRS?

2 min read

Corporate business owners: Is your salary reasonable in the eyes of the IRS?

Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s...

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Explore SEP and SIMPLE retirement plans for your small business

2 min read

Explore SEP and SIMPLE retirement plans for your small business

Suppose you’re thinking about setting up a retirement plan for yourself and your employees. However, you’re concerned about the financial commitment...

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tax-favored real estate professional

2 min read

Are you a tax-favored real estate professional?

For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can...

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Small business alert: Watch out for the 100% penalty

2 min read

Small business alert: Watch out for the 100% penalty

Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from...

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Business owners should get comfortable with their financial statements

2 min read

Business owners should get comfortable with their financial statements

Financial statements can fascinate accountants, investors and lenders. However, for business owners, they may not be real page-turners.

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business’s future, succession planning

3 min read

Planning for the future: 5 business succession options and their tax implications

When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders...

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