L&H Insights

2 min read

Key 2024 inflation-adjusted tax amounts for individuals

Maurice La Verdure: Dec 19, 2023 11:36:27 AM

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers.

2 min read

11 Exceptions to the 10% penalty tax on early IRA withdrawals

Scott Henvey: Dec 19, 2023 11:31:02 AM

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before...

2 min read

What you need to know about restricted stock awards and taxes

Maurice La Verdure: Nov 8, 2023 12:32:11 PM

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

2 min read

New per diem business travel rates kicked in on October 1

Scott Henvey: Nov 8, 2023 12:26:39 PM

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into...

2 min read

Facing a future emergency? Two new tax provisions may soon provide relief

Maurice La Verdure: Nov 8, 2023 12:22:35 PM

Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking money out...

2 min read

Business automobiles: How the tax depreciation rules work

Maurice La Verdure: Nov 8, 2023 12:18:33 PM

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

2 min read

The tax implications of renting out a vacation home

Scott Henvey: Nov 8, 2023 12:07:22 PM

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains, or in a resort...

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Investment swings: What’s the tax impact?

Scott Henvey: Sep 15, 2023 2:07:12 PM

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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Update on depreciating business assets

Scott Henvey: Sep 15, 2023 2:00:46 PM

The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation...

2 min read

Starting a business? How expenses will be treated on your tax return

Maurice La Verdure: Jul 17, 2023 11:57:06 AM

Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports...

2 min read

Traveling for business this summer? Here’s what you can deduct

Scott Henvey: Jul 17, 2023 11:36:47 AM

If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to...

2 min read

What to do if you’re audited by the IRS

L&H CPAs: Jan 16, 2020 7:38:00 AM

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Asset protection is just as important as tax planning

L&H CPAs: Jan 16, 2020 7:02:42 AM