Retirement Planning, Taxes, Estate Planning, Executives, Retirees, Investment Advisory & Wealth Mangement

Retiring soon? 4 tax issues you may face

If you’re getting ready to retire, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may deal with when you retire: Taking required minimum distributions. This is the minimum amount..........

Read More
Maurice La Verdure
Maurice La Verdure

17 June, 2021

Investing, Estate Planning, Tax Reform, Planning, Business Owners, Investment Advisory & Wealth Mangement, smallbusiness

Tax-favored ways to build up a college fund

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to mini..........

Read More
Scott Henvey
Scott Henvey

17 June, 2021

Business Owners & Entrepreneurs, Tax Reform, Business Owners, smallbusiness

Ensure the IRS doesn’t reclassify independent contractors as employees

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies ..........

Read More
Maurice La Verdure
Maurice La Verdure

18 May, 2021

Business Owners & Entrepreneurs, Taxes, Executives, Tax Reform, smallbusiness

Simple retirement savings options for your small business

Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pe..........

Read More
Scott Henvey
Scott Henvey

29 April, 2021

Business Owners & Entrepreneurs, Taxes, Tax Reform, Planning

Unemployed last year? Buying health insurance this year?

In recent months, there have been a number of tax changes that may affect your individual tax bill. Many of these changes were enacted to help mitigate the financial damage caused by COVID-19. Here ar..........

Read More
Maurice La Verdure
Maurice La Verdure

27 April, 2021

Taxes, Tax Reform, Traditional IRA

What to do if you’re audited by the IRS

Taxpayers don’t necessarily need to panic when they receive an IRS letter. Often, returns are chosen for examination randomly, or because the IRS needs additional information. This article provides ti..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform, Text Preparation Planning

Asset protection is just as important as tax planning

Many financially savvy individuals are already thinking about filing their tax returns next year. But they shouldn’t overlook another critical and equally important aspect of financial planning: asset..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform, Text Preparation Planning

Making gifts to loved ones Don’t forget tax planning

Many people want to pass assets to the next generation during their lifetimes, whether to reduce the size of their taxable estates, to help family members or to see their loved ones enjoy the gifts. T..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform

Planning for the net investment income tax

Despite its name, the Tax Cuts and Jobs Act didn’t cut all types of taxes. It left several taxes unchanged, including the 3.8% tax on net investment income (NII) of high-income taxpayers. This brief a..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform

Vacation homes Do you understand the tax nuances

A vacation home can provide a welcome retreat from the hustle and bustle of everyday life. But that’s not all: It can also offer valuable tax benefits. This article sorts out the rules for claiming a ..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform

Do you know your tax bracket

The Tax Cuts and Jobs Act generally reduced individual tax rates through 2025, but some taxpayers have actually seen their taxes go up because of reductions or eliminations of certain tax breaks. This..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform

Estate Planning Red Flag - You're splitting gifts with your spouse

The annual gift tax exclusion allows a person to transfer up to $15,000 per beneficiary gift-tax-free. One can double the exclusion to $30,000 per beneficiary if an election is made to split the gifts..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform

7 ways to prevent elder financial abuse

As tax season ramps up, so do the efforts of scam artists looking to steal older people’s financial data and money. This article offers seven ways to prevent elder financial abuse. 7 ways to prevent e..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Taxes, Tax Reform

Are income taxes taking a bite out of your trusts

Anyone whose estate plan includes one or more trusts should review them before filing an income tax return. And those who have already filed should look carefully at how their trusts were affected. Th..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Executives, Tax Reform

LHCPA Post 5

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer to..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Tax Reform

Investment Interest Expense Is Still Deductible, but It Might Not Matter

As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense. This ..........

Read More
L&H CPAs
L&H CPAs

14 July, 2020

Tax Reform

Save Taxes by Bunching Medical Expenses into 2018

Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able..........

Read More
L&H CPAs
L&H CPAs

13 June, 2020

Estate Planning, Tax Reform

Consider All the Tax Consequences Before Making Gifts to Loved Ones

Many people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. ..........

Read More
L&H CPAs
L&H CPAs

13 June, 2020

Taxes, Tax Reform

529 Plans Offer 2 Tax-Advantaged Funding Options

Section 529 plans are a popular education-funding tool because of tax and other benefits. Two types are available: 1) prepaid tuition plans, and 2) savings plans. And one of these plans got even bette..........

Read More
L&H CPAs
L&H CPAs

13 June, 2020

Tax Reform

Tax Reform: Changes to Popular Deductions and Eliminated Changes

Taxpayers who have come to rely on popular tax deductions may need to check their expectations when it comes time to file taxes for 2018. That’s because The Tax Cuts and Jobs Act made some modificatio..........

Read More
L&H CPAs
L&H CPAs

13 June, 2020