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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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Investment Advisory & Wealth Mangement

strategy to save tax when selling appreciated vacant land

2 min read

A three-step strategy to save tax when selling appreciated vacant land

Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated...

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The pros and cons of turning your home into a rental

2 min read

The pros and cons of turning your home into a rental

If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and...

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RMD retirement account distributions

2 min read

Update on retirement account required minimum distributions

If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum...

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effect of renting out a vacation property on taxes

2 min read

How renting out a vacation property will affect your taxes

Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a vacation home....

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529 plan

2 min read

New option for unused funds in a 529 college savings plan

With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax...

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contribute to an IRA

2 min read

If you didn’t contribute to an IRA last year, there’s still time

If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still...

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restricted stock awards and taxes

2 min read

What you need to know about restricted stock awards and taxes

Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock...

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Business automobiles

2 min read

Business automobiles: How the tax depreciation rules work

Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are...

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Investment swings: What’s the tax impact?

2 min read

Investment swings: What’s the tax impact?

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided...

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develop sell land tax smart

2 min read

A tax-smart way to develop and sell appreciated land

Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them off for a...

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Investment

2 min read

Sec. 529 vs. Roth IRA plans - Choosing a college savings tool

Many people assume that a Section 529 plan is the ideal college savings tool. But the Roth IRA can also help parents save for college expenses. This...

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