H&B, Author at Hutchinson and Bloodgood LLP

Tax Planning

Top 10 Tax Breaks to Consider on Extended Returns

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August 12, 2024

If you requested an extension for your 2023 federal income tax return, you have until six months from the original due date — October 15, 2024, to be exact — to wrap things up. This extra time may give you the opportunity to lower your overall tax bill and possibly increase a refund. Here are 10 […]

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Estate Planning

Business Owners: Understanding Value Is Key to Updating Your Estate Plan

August 9, 2024

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Summer is a great time for business owners to review their estate plans. Maybe your kids are home for summer break, so they’re top of mind. Or perhaps you’re vacationing with relatives or getting together for a backyard BBQ. Whatever the reason you’re spending time with your family, consider having an open discussion with them about […]

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Business Planning & Consulting

The possible tax landscape for businesses in the future

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August 8, 2024

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Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How we got here The Tax Cuts and […]

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Technology

Businesses should stay grounded when using cloud computing

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August 7, 2024

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For a couple decades or so now, companies have been urged to “get on the cloud” to avail themselves of copious data storage and a wide array of software. But some businesses are learning the hard way that the seemingly sweet deals offered by cloud services providers can turn sour as hoped-for cost savings fail […]

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Tax Planning

Do you owe estimated taxes? If so, when is the next one due?

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August 6, 2024

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Federal estimated tax payments are designed to ensure that certain individuals pay their fair share of taxes throughout the year. If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains, […]

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Payroll

Don’t Overlook the Extra Medicare Payroll Tax

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August 5, 2024

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Federal payroll taxes are a necessary evil for both employers and employees. Under the Federal Insurance Contributions Act (FICA), employees must pay Social Security and Medicare taxes. For their part, employers must withhold the tax from employee wages and also pay their share of FICA tax. But there’s another, lesser-known payroll tax that some of your […]

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Cybersecurity

Assemble a Comprehensive Cybersecurity Plan

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August 1, 2024

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Regardless of their size, businesses rely heavily on technology. Although your network and computer-related tools are essential to function, they’re also a potential liability because they can offer cybercriminals access to your company. To protect against this complex and ever-evolving threat, businesses must deploy a comprehensive cybersecurity program. Your Arsenal You should already have a cybersecurity […]

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Estate Planning

Cross “Create an Estate Plan” Off Your To-Do List

July 31, 2024

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If you’re like most Americans, you don’t have an estate plan (according to various sources, adults with estate plans range from 23% to 33% of the population). You may not even know where to start. That’s understandable, because a comprehensive estate plan can involve a variety of legal documents — the complexity depending on your wealth, […]

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Business Planning & Consulting

Business website expenses: How they’re handled for tax purposes

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July 30, 2024

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Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply to the deductibility of business expenses and provide business taxpayers launching a website with some guidance about proper treatment. In addition, businesses can turn to […]

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Financial Planning

8 Financial Steps for Women Today

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July 29, 2024

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From a financial perspective, women have come a long way in recent years. They currently possess about $10 trillion of the country’s wealth. What’s more, it’s estimated that females will control about two-thirds of overall U.S. wealth by 2030. However, on average, women still earn only 84% of what men make. So, strides are still needed […]

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Author: H&B

Top 10 Tax Breaks to Consider on Extended Returns

Business Owners: Understanding Value Is Key to Updating Your Estate Plan

The possible tax landscape for businesses in the future

Businesses should stay grounded when using cloud computing

Do you owe estimated taxes? If so, when is the next one due?

Don’t Overlook the Extra Medicare Payroll Tax

Assemble a Comprehensive Cybersecurity Plan

Cross “Create an Estate Plan” Off Your To-Do List

Business website expenses: How they’re handled for tax purposes

8 Financial Steps for Women Today

A Comprehensive Approach to Goal-Based Financial Planning