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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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Screenshot 2024-01-11 at 9-19-18 AM

Business Owners

Business owners should get comfortable with their financial statements

2 min read

Business owners should get comfortable with their financial statements

Financial statements can fascinate accountants, investors and lenders. However, for business owners, they may not be real page-turners.

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business’s future, succession planning

3 min read

Planning for the future: 5 business succession options and their tax implications

When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders...

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Tax break - Maximizing employee transportation fringe benefits

2 min read

Riding the tax break train: Maximizing employee transportation fringe benefits

There are some nice tax breaks for transportation-related employee fringe benefits. If your employer offers these tax-favored fringes, you should...

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S corporation entity - information

1 min read

Exploring business entities: Is an S corporation the right choice?

Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture.

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2 min read

Ways to manage the limit on the business interest expense deduction

Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expense....

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Home office deductions

2 min read

How a business owner’s home office can result in tax deductions

As a business owner, you may be eligible to claim home office tax deductions that will reduce your taxable income. However, it’s crucial to...

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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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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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 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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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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