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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 & Entrepreneurs (7)

03_11_19_1133797225_SBTB_560x292

1 min read

There’s Still Time for Small Business Owners to Set up a Sep Retirement Plan for Last Year

If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified...

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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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01_28_19_969348350_SBTB_560x292

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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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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01_22_19_1065024742_SBTB_560x292

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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01_07_19_974191994_SBTB_560x292

2 min read

Is There Still Time to Pay 2018 Bonuses and Deduct on 2018 Return?

There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee...

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tax moves for business owners

2 min read

6 Last-Minute Tax Moves for Your Business

Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute...

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11_26_18-882979424_SBTB_560x292

2 min read

When Holiday Gifts & Parties Are Deductible or Taxable

The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday...

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retirement plan

2 min read

It’s Not Too Late: You Can Still Set up a Retirement Plan for 2018

If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan,...

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business asset depreciation

1 min read

Reduce 2018 Tax Liability - Buy Business Assets Before Year End

The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses.

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intellectual property and royalties

1 min read

Remember to Include Intellectual Property in Your Estate Plan

If your estate includes forms of intellectual property (IP), such as patents and copyrights, it’s important to know how to address them in your...

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10_08_18-921346680_SBTB_560x292

2 min read

Tax-Free Fringe Benefits: Help for Your Businesses & Employees

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also...

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