H&B, Author at Hutchinson and Bloodgood LLP

Tax Planning

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

Key chain with a wooden house charm and a key on it, Words #Seller-paid points" written below it

October 1, 2024

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 dreams of purchasing property. “The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in […]

Find Out More

Employee Benefit Plans

Understanding your obligations: Does your business need to report employee health coverage?

Tax,form, C,,tax,form,details,for,tax,season,with

September 30, 2024

H&B

0

Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do? Here are some […]

Find Out More

General

Which TCJA changes for individuals are permanent under current tax law?

Business,accountant,using,electronic,bill,on,laptop,computer

September 27, 2024

H&B

0

The landmark Tax Cuts and Jobs Act (TCJA) was passed in late 2017, but the law is still in the headlines today. Most TCJA provisions that affect individual taxpayers are scheduled to expire after 2025. However, there are six noteworthy exceptions that will remain on the books after 2025, unless Congress passes additional legislation to override them. Disallowed […]

Find Out More

Technology

IT strategy showdown: Enterprise architecture vs. Agile

Enterprise,architect,is,touching,enterprise,architecture,on,a,virtual,screen.

September 26, 2024

H&B

0

Few, if any, companies can operate successfully today without the right information technology (IT) strategy. And as businesses grow, their IT needs and infrastructures become even more complex and costly. This push and pull of managing growth while grappling with tech has brought two broad approaches to IT strategy to the forefront: enterprise architecture and Agile. […]

Find Out More

Tax Planning

Make year-end tax planning moves before it’s too late!

September 25, 2024

H&B

0

With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or itemize deductions for 2024. You may not itemize because of the high 2024 standard […]

Find Out More

Tax Planning

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

Q4 2024 Tax Calendar showing the months of October, November and December

September 24, 2024

H&B

0

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 list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: […]

Find Out More

Tax Planning

Smart tax planning pays off

Diverse Businesspeople Gathered Together For Negotiations Lead By African Businesswoman

September 23, 2024

H&B

0

If you’re financially successful or expect to become so, taxes are or will become one of your biggest expenses — and most people want to minimize their tax obligations. Roughly two-thirds of Americans say that they pay too much in federal income taxes, according to a poll earlier this year from the University of Chicago Harris […]

Find Out More

Business Planning & Consulting

Business Owners: Failure to substantiate donations can be costly

Business,consultant,meeting,is,discussing,financial,situation,,analyzing,budget,and

September 20, 2024

H&B

0

Charitable donations can provide businesses with significant tax savings. But for gifts over a certain amount, they must obtain a contemporaneous written acknowledgement of their donations to qualify for a charitable contribution deduction. Failing to do so can prove costly. An S corporation learned that lesson the hard way when the IRS and the U.S. Tax […]

Find Out More

Technology

Businesses must stay on guard against invoice fraud

Close Up,of,a,human,hand,looking,at,fraud,blocks,through

September 19, 2024

H&B

0

Fraud is a pernicious problem for companies of all shapes and sizes. One broad type of crime that seems to be thriving as of late is invoice fraud. In the second quarter of 2024, accounts payable software provider Medius released the results of a survey of 1,533 senior finance executives in the United States and […]

Find Out More

Tax Planning

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

Woman with long brown hair and a blue and white stripe shirt, child wearing a white top and her hair in a ponytail sits on her lap, working on her laprop in her home.

September 18, 2024

H&B

0

Working from home has become increasingly common. The U.S. Bureau of Labor Statistics (BLS) reports that about one out of five workers conducts business from home for pay. The numbers are even higher in certain occupational groups. About one in three people in management, professional and related occupations works from home. Your status matters If […]

Find Out More

Author: H&B

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

Understanding your obligations: Does your business need to report employee health coverage?

Which TCJA changes for individuals are permanent under current tax law?

IT strategy showdown: Enterprise architecture vs. Agile

Make year-end tax planning moves before it’s too late!

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

Smart tax planning pays off

Business Owners: Failure to substantiate donations can be costly

Businesses must stay on guard against invoice fraud

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

A Comprehensive Approach to Goal-Based Financial Planning