H&B, Author at Hutchinson and Bloodgood LLP

Tax Planning

You may be entitled to tax breaks if caring for an elderly relative

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May 28, 2024

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here’s a rundown of four of them: Medical expenses. If the individual qualifies as […]

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Tax Planning

Chart a Tax Course for Business Travel

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May 24, 2024

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Are you planning to take a business trip this summer? If your destination is known for its cultural or recreational attractions, you might want to combine some leisure with your business activities. You still may be able to enjoy plenty of tax benefits from the trip — if you stick to a strict tax itinerary. The […]

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Tax Planning

Don’t Overlook the Child Care Tax Credit

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May 23, 2024

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For years, the tax code has offered an incentive for employers to provide child care to their employees in the form of the Section 45F child care tax credit. But the credit is rarely claimed, according to the Congressional Research Service. Employers that qualify for the credit could significantly cut their tax bills, while simultaneously boosting […]

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Marketing

Could conversational marketing speak to your business?

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May 22, 2024

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Businesses have long been advised to engage in active dialogues with their customers and prospects. The problem was, historically, these interactions tended to take a long time. Maybe you sent out a customer survey and waited weeks or months to gather the data. Or perhaps you launched a product or service and then waited anxiously […]

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Tax Planning

A three-step strategy to save tax when selling appreciated vacant land

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May 21, 2024

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Let’s say you own one or more vacant lots. The property has appreciated greatly and you’re ready to sell. Or maybe you have a parcel of appreciated land that you want to subdivide into lots, develop them and sell them off for a big profit. Either way, you’ll incur a tax bill. For purposes of […]

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Tax Planning

Tax Credit Cuts Price of Home Energy Audits

May 20, 2024

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Homeowners have long been rewarded with favorable tax treatment for making energy-efficient improvements. The Inflation Reduction Act, enacted in 2022, expands the tax credit for qualified energy-efficient improvements to help subsidize home energy audits, which can result in even more savings in your utility bills. Recent IRS guidance sheds some light on the credit. Overview The […]

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Nonprofit Organizations

How Your Nonprofit Can Use AI Effectively

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May 17, 2024

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Artificial intelligence (AI), which enables machines to simulate human thought processes, is growing in leaps and bounds. Indeed, ChatGPT, an AI provider of content, surged past 180 million users in March, according to OpenAI. Naturally, not-for-profits are taking notice, and some organizations have adopted ChatGPT and other forms of AI into their operations. Not surprisingly, the […]

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Estate Planning

CRTs: Current Income, Tax Breaks and Charitable Benefits in One Package

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May 16, 2024

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You might have several goals you’d like your estate plan to achieve. They may include giving to your favorite charity and leaving a significant amount to your loved ones under favorable tax terms. One estate planning technique that may allow you to accomplish both goals is the use of a charitable remainder trust (CRT). Prime Advantages […]

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Business Planning & Consulting

Businesses must face the reality of cyberattacks and continue fighting back

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May 15, 2024

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With each passing year, as networked technology becomes more and more integral to how companies do business, a simple yet grim reality comes further into focus: The cyberattacks will continue. In fact, many experts are now urging business owners and their leadership teams to view malicious cyberactivity as more of a certainty than a possibility. […]

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Tax Planning

The tax advantages of including debt in a C corporation capital structure

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May 14, 2024

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Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debt more favorably than corporate equity. So for shareholders of closely held C corporations, it can be a tax-smart move to include […]

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Author: H&B

You may be entitled to tax breaks if caring for an elderly relative

Chart a Tax Course for Business Travel

Don’t Overlook the Child Care Tax Credit

Could conversational marketing speak to your business?

A three-step strategy to save tax when selling appreciated vacant land

Tax Credit Cuts Price of Home Energy Audits

How Your Nonprofit Can Use AI Effectively

CRTs: Current Income, Tax Breaks and Charitable Benefits in One Package

Businesses must face the reality of cyberattacks and continue fighting back

The tax advantages of including debt in a C corporation capital structure

A Comprehensive Approach to Goal-Based Financial Planning