H&B, Author at Hutchinson and Bloodgood LLP

The tax implications of renting out a vacation home

Photograph of a water canal with boats in the water and palm trees on the surrounding land

October 10, 2023

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 area, you may want to rent it out for part of the year. The tax implications of these transactions can be complicated. It depends on how many […]

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Business Planning & Consulting

Could value-based sales boost your company’s bottom line?

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October 4, 2023

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If your company sells products or services to other businesses, you’re probably familiar with the challenge of growing your sales numbers. At times, you might even struggle to maintain them. One way to put yourself in a better position to succeed is to diversify your approaches, so you’re not limited to a single method by which […]

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Estate Planning

Two Tools Can Make Your Estate Plan More Effective

Couple sitting down with laptop in fron of them

October 3, 2023

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Everyone needs an estate plan, regardless of age, assets or family situation. At a minimum, you should create a legally valid will that dictates the disposition of your assets after death. However, many people should take estate planning to the next level and at least consider establishing a living — also known as a revocable — […]

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Mergers & Acquistions

It’s important to understand how taxes factor into M&A transactions

Merger,and,acquisition,business,corporate,cooperation,company,concept.,ma,partnership

September 19, 2023

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In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax standpoint, a transaction can basically be structured in two ways: 1. Stock […]

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Business Planning & Consulting

4 best practices for effective strategic planning meetings

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September 13, 2023

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It’s not uncommon for employees to grumble about having to attend too many meetings. Sometimes they have a point; an excessive number of meetings can become a problem at some companies. However, there’s one kind of meeting that business owners and their leadership teams should never scrimp on: strategic planning. That doesn’t mean you need […]

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Tax Planning

Investment swings: What’s the tax impact?

Illustration of a roller coaster with a shopping cart on it carrying the words STOCK MARKET

September 12, 2023

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If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to know to avoid tax surprises. Tax-favored retirement accounts and taxable accounts […]

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Tax Planning

Plan now for year-end gifts with the gift tax annual exclusion

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September 5, 2023

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Now that Labor Day has passed, the holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any […]

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Tax Planning

Selling your home for a big profit? Here are the tax rules

A box on a table with grass and a small model of a home in it with a sign that says sold.

August 29, 2023

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Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of existing homes sold in July of 2023 rose 1.9% over July of 2022 after a couple years of much higher increases. The median home price was $467,500 in the Northeast, […]

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Business Planning & Consulting

4 Strategies to Strengthen Your Small Business

Business people sitting at table having a meeting working on laptop and looking at reports

August 25, 2023

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Even at the best of times, the future is unpredictable. As anyone who has run a business for any length of time understands, there will often be challenges, many of which are unexpected — such as a global pandemic — coming straight out of left field. Here are four strategies your small company can use to […]

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Exit Planning

Look carefully at three critical factors of succession planning

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August 23, 2023

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The day-to-day demands of running a business can make it difficult to think about the future. And by “future,” we’re not necessarily talking about how your tax liability will look at year-end or how you might grow the bottom line over the next five years. We’re referring to the future in which you no longer […]

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Author: H&B

The tax implications of renting out a vacation home

Could value-based sales boost your company’s bottom line?

Two Tools Can Make Your Estate Plan More Effective

It’s important to understand how taxes factor into M&A transactions

4 best practices for effective strategic planning meetings

Investment swings: What’s the tax impact?

Plan now for year-end gifts with the gift tax annual exclusion

Selling your home for a big profit? Here are the tax rules

4 Strategies to Strengthen Your Small Business

Look carefully at three critical factors of succession planning

A Comprehensive Approach to Goal-Based Financial Planning