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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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Taxes

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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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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Tax deductions

2 min read

You don’t have to be in business to deduct certain vehicle expenses

You don’t have to be in business to deduct certain vehicle expenses When you think about tax deductions for vehicle-related expenses, business...

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investing in a 529 plan

2 min read

Unlock your child’s potential by investing in a 529 plan

If you have a child or grandchild planning to attend college, you’ve probably heard about qualified tuition programs, also known as 529 plans. These...

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keeping your business separate from its real estate

2 min read

Advantages of keeping your business separate from its real estate

Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering...

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seller-paid points as the real estate market improves?

1 min read

Can homeowners deduct seller-paid points as the real estate market improves?

The recent drop in interest rates has created a buzz in the real estate market. Potential homebuyers may now have an opportunity to attain their...

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2024 Q4 tax calendar: Key deadlines for businesses and other employers

1 min read

2024 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this...

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Home office rules for tax deductions

2 min read

Is your home office a tax haven? Here are the rules for deductions

Working from home has become increasingly common. The U.S. Bureau of Labor Statistics (BLS) reports that about one out of five workers conducts...

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Help ensure your partnership or LLC complies with tax law

2 min read

Help ensure your partnership or LLC complies with tax law

When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated...

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Tax credit for buying an electric car

2 min read

Understanding the $7,500 federal tax credit for buying an electric vehicle

Electric vehicles (EVs) have become increasingly popular. According to Kelley Blue Book estimates, the EV share of the vehicle market in the U.S. was...

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