L&H Insights

2 min read

How can you build a golden nest egg if you’re self-employed?

Scott Henvey: Nov 11, 2024 11:04:53 AM

If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is...

2 min read

Employers: In 2025, the Social Security wage base is going up

Scott Henvey: Nov 11, 2024 10:57:07 AM

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base...

2 min read

Is your money-losing activity a hobby or a business?

Maurice La Verdure: Nov 11, 2024 10:53:38 AM

Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom artwork or...

2 min read

Working capital management is critical to business success

Maurice La Verdure: Nov 8, 2024 10:13:55 AM

Success in business is often measured in profitability — and that’s hard to argue with. However, liquidity is critical to reaching the point where a...

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

2024 Q4 tax calendar: Key deadlines for businesses and other employers

Scott Henvey: Oct 8, 2024 2:18:58 PM

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this...

2 min read

Is your home office a tax haven? Here are the rules for deductions

Maurice La Verdure: Oct 8, 2024 2:16:03 PM

Working from home has become increasingly common. The U.S. Bureau of Labor Statistics (BLS) reports that about one out of five workers conducts...

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

3 min read

6 tax-free income opportunities

Maurice La Verdure: Sep 5, 2024 12:11:02 PM

Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without...

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

Understanding taxes on real estate gains

Scott Henvey: Sep 5, 2024 11:31:30 AM

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect...