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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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Key performance Indicators overview for businesses

2 min read

So many KPIs, so much time: An overview for businesses

From the moment they launch their companies, business owners are urged to use key performance indicators (KPIs) to monitor performance. And for good...

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Tax season questions answered

2 min read

Early bird tips: Answering your tax season questions

The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and...

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standard business mileage rate increased in 2025

2 min read

The standard business mileage rate increased in 2025

The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the deductible...

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IRA withdrawals Q&A

2 min read

Do you have questions about taking IRA withdrawals? We’ve got answers

Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA,...

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 business taxes with local transportation cost deductions

2 min read

Drive down your business taxes with local transportation cost deductions

Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely...

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Operating as a C corporation: Weigh the benefits and drawbacks

2 min read

Operating as a C corporation: Weigh the benefits and drawbacks

When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and...

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Smart strategies for a secure retirement, 401(k)

2 min read

Maximize your 401(k) in 2025: Smart strategies for a secure retirement

Saving for retirement is a crucial financial goal and a 401(k) plan is one of the most effective tools for achieving it. If your employer offers a...

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HSAs can benefit your small business and employees

2 min read

Healthy savings: How tax-smart HSAs can benefit your small business and employees

As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a...

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inflation and your 2024 and 2025 tax bills

2 min read

How inflation will affect your 2024 and 2025 tax bills

Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will...

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When can you deduct business meals and entertainment?

2 min read

When can you deduct business meals and entertainment?

You’re not alone if you’re confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in...

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Retirement plans for growing businesses

2 min read

3 types of retirement plans for growing businesses

When start-ups launch, their focus is often on tightly controlling expenses. Most need to establish a brand and some semblance of stability before...

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Tax breaks for energy-saving purchases

2 min read

Get tax breaks for energy-saving purchases this year because they may disappear

The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of...

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A guide to business travel tax deductions

3 min read

From flights to meals: A guide to business travel tax deductions

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel...

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