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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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1 min read

401(K) Retirement Plan Contribution Limit Increases for 2018; Most Other Limits Are Stagnant

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2018. But...

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Estate Planning Lite College-Aged Children Need a Basic Estate Plan

1 min read

Estate Planning Lite: College-Aged Children Need a Basic Estate Plan

If your son or daughter currently is home from college on winter break, now is a good time to sit down and discuss a few estate planning documents he...

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save more retirement in 2019

1 min read

You May Be Able to Save More for Retirement in 2019

Retirement plan contribution limits are indexed for inflation, and many have gone up for 2019, giving you opportunities to increase your retirement...

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A refresher on major tax law changes for small-business owners

2 min read

A Refresher on Major Tax Law Changes for Small-Business Owners

The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce...

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1 min read

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...

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2 min read

Business Real Estate Depreciation: Before You File 2018 Return

Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every...

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file tax return now

2 min read

Don't Wait to File Your 2018 Income Tax Return

The IRS opened the 2018 income tax return filing season on January 28. Even if you typically don’t file until much closer to the April 15 deadline,...

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4 min read

Are You Eligible for the New Dependent Credit and HOH Filing Status?

The IRS continues to publish guidance to clarify provisions of the Tax Cuts and Jobs Act (TCJA). Here's what you need to know about qualifying for...

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3 min read

Can You Have Too Much Tax Deferral?

Taking steps to defer your individual federal income tax bill is often a good idea. If you expect to be in the same tax bracket in future years,...

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C Corporation Status Pros and Cons

4 min read

Should You Switch Your Business to C Corp Status?

Thanks to the Tax Cuts and Jobs Act (TCJA), the federal income tax rate on C corporations is now a flat 21%, for tax years beginning in 2018 and...

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business owner exit strategy

2 min read

Own a Business? An Exit Strategy Should Be Part of Your Tax Planning

Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks...

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1 min read

Which Tax-Related Limits Affecting Your Business Are Increasing in 2019?

A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some of the...

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1 min read

There’s Still Time to Get Proof for 2018 Deductible Donations

If you’re like many generous Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your...

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