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L&H Insights

Tax Strategies, Advice, and Insights

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New itemized deduction limitation will affect high-income individuals next year

2 min read

New itemized deduction limitation will affect high-income individuals next year

Beginning in 2026, taxpayers in the top federal income tax bracket will see their itemized deductions reduced. If you’re at risk, there are steps you...

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Shift income to take advantage of the 0% long-term capital gains rate

1 min read

Shift income to take advantage of the 0% long-term capital gains rate

Are you thinking about making financial gifts to loved ones? Would you also like to reduce your capital gains tax? If so, consider giving appreciated...

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Deducting business gifts - what you need to know

2 min read

What you need to know about deducting business gifts

Thoughtful business gifts are a great way to show appreciation to customers and employees. They can also deliver tax benefits when handled correctly....

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Writing an AI governance policy for your business

2 min read

Writing an AI governance policy for your business

Artificial intelligence (AI) is changing the way businesses operate. Its capacity to gather and process data, as well as to mimic human interactions,...

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Is an HDHP plus an HSA a financially smart health care option for you?

2 min read

Is an HDHP plus an HSA a financially smart health care option for you? (Clone)

Health care costs continue to increase. Pairing a high-deductible health plan (HDHP) with a Health Savings Account (HSA) can help. Insurance premiums...

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Review your business expenses before year end

2 min read

Review your business expenses before year end

Now is a good time to review your business’s expenses for deductibility. Accelerating deductible expenses into this year generally will reduce 2025...

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Payroll tax implications of new tax breaks on tips and overtime

2 min read

Payroll tax implications of new tax breaks on tips and overtime

Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes...

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5 ways your business can build a stronger annual budget

2 min read

5 ways your business can build a stronger annual budget

As summer gives way to fall, many businesses begin their budget-setting processes for the upcoming year. This annual rite of passage can be...

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New rules could boost your R&E tax savings in 2025

1 min read

New rules could boost your R&E tax savings in 2025

A major tax change is here for businesses with research and experimental (R&E) expenses. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA)...

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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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Significant business tax provisions in the One, Big, Beautiful Bill Act

3 min read

Significant business tax provisions in the One, Big, Beautiful Bill Act

The One, Big, Beautiful Bill Act (OBBBA) was signed into law on July 4. The new law includes a number of favorable changes that will affect small...

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Understanding spousal IRAs: A smart retirement strategy for couples

2 min read

Understanding spousal IRAs: A smart retirement strategy for couples

Retirement planning is essential for all families, but it can be especially critical for couples where one spouse earns little to no income. In such...

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