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Fortify Your Estate Plan Against Undue Influence Claims

Posted by L&H CPAs on Jul 12, 2018 10:55:00 AM

Of course, you expect the declarations in your will to be carried out, as required by law. Usually, that’s exactly what happens with wills. However, it’s possible your will could be contested and your true intentions defeated if someone is found to have exerted “undue influence” over your decisions. 

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Tags: Estate Planning

The Tax Impact of the TCJA on Estate Planning

Posted by L&H CPAs on Jul 11, 2018 10:50:24 AM



The massive changes the Tax Cuts and Jobs Act (TCJA) made to income taxes have garnered the most attention. But the new law also made major changes to gift and estate taxes. While the TCJA didn’t repeal these taxes, it did significantly reduce the number of taxpayers who’ll be subject to them, at least for the next several years. Nevertheless, factoring taxes into your estate planning is still important.

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Tags: Estate Planning

2 Changes That May Affect Your Business’s 401(K)

Posted by L&H CPAs on Jul 10, 2018 10:19:25 AM


When you think about recent tax law changes and your business, you’re probably thinking about the new 20% pass-through deduction for qualified business income or the enhancements to depreciation-related breaks. Or you may be contemplating the reduction or elimination of certain business expense deductions. But there are also a couple of recent tax law changes that you need to be aware of if your business sponsors a 401(k) plan.

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Tags: Business Owners & Entrepreneurs

The Pros and Cons of a SCIN

Posted by L&H CPAs on Jul 2, 2018 7:31:32 PM



Many estate planning techniques are intended to minimize or even eliminate gift and estate taxes when transferring assets to family members. Sometimes, the most powerful techniques also have a significant drawback: mortality risk.

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Tags: Estate Planning

Factor in State and Local Taxes When Deciding Where to Live in Retirement

Posted by L&H CPAs on Jun 28, 2018 12:33:38 PM



Many Americans relocate to another state when they retire. If you’re thinking about such a move, state and local taxes should factor into your decision.

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Tags: Retirement Planning

What Businesses Need to Know About the Tax Treatment of Bitcoin

Posted by L&H CPAs on Jun 25, 2018 9:21:37 PM


Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency. 

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Tags: Business Owners & Entrepreneurs

Think Twice Before Naming a Minor as Beneficiary

Posted by L&H CPAs on Jun 18, 2018 6:57:40 PM


A common estate planning mistake is to designate a minor as beneficiary — or contingent beneficiary — of a life insurance policy or retirement plan. While making your young child the beneficiary of such assets may seem like an excellent way to provide for him or her in the case of your untimely death, doing so can have significant undesirable consequences. 

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Tags: Estate Planning

Saving Tax on Restricted Stock Awards

Posted by L&H CPAs on Jun 18, 2018 6:37:12 PM

Today many employees receive stock-based compensation from their employer as part of their compensation and benefits package. The tax consequences of such compensation can be complex — subject to ordinary-income, capital gains, employment and other taxes. But if you receive restricted stock awards, you might have a tax-saving opportunity in the form of the Section 83(b) election.

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Tags: Executives

Q3 tax calendar: Key Deadlines for Businesses & Other Employers

Posted by L&H CPAs on Jun 18, 2018 6:16:41 PM

Here are some of the key tax-related deadlines affecting businesses and other employers during the second quarter of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.

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Tags: Business Owners & Entrepreneurs

TCJA Tax Consequences When Selling Your Home

Posted by L&H CPAs on Jun 15, 2018 10:01:09 AM


In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll get for it. But don’t neglect to consider the tax consequences. 

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