H&B, Author at Hutchinson and Bloodgood LLP

Guaranteeing a loan to your corporation? There may be tax implications

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August 22, 2023

Let’s say you decide to, or are asked to, guarantee a loan to your corporation. Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax implications. If your corporation defaults on the loan and you’re required to pay principal or […]

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Business Planning & Consulting

What Are the Tax Implications of the New Lease Accounting Rules?

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August 21, 2023

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Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in how leases are reported for “book” purposes. While the tax rules for leases haven’t changed, the new accounting rules can have notable implications for how the tax rules play out. New Accounting Rules The Financial Accounting Standards Board (FASB) issues standards […]

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Estate Planning

4 Common Estate Planning Pitfalls

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August 18, 2023

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Estate planning involves a lot of moving parts. So you’d be forgiven for overlooking or forgetting about certain issues when making decisions about transferring wealth in the most tax-effective manner after you die. An experienced estate planner can help ensure you dot all the “i’s” and cross all the “t’s.” But if you’ve done some of […]

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General

Handling Student Loan Debt

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August 16, 2023

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Starting September 1, 2023, federal student loans will begin accruing interest again. And loan payments will officially restart in October 2023. As part of federal relief measures during the COVID-19 pandemic, individuals with federal student loan debt weren’t required to make payments, and interest charges were suspended. Those relief measures have been in place since March […]

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Tax Planning

Disabled family members may be able to benefit from ABLE accounts

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August 15, 2023

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If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for […]

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Recruiting

Now Hiring: Creative Ideas to Attract Skilled Workers

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August 10, 2023

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Finding and keeping talent can be challenging in today’s competitive hiring market. Many workers are ready and willing to switch jobs, in search of greener pastures. And there’s a skills shortage — especially for high-tech, accounting, health care and executive positions. If your company is having recruitment and retention problems, consider these suggestions to make […]

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Technology

5 tips for more easily obtaining cyberinsurance

August 9, 2023

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Every business should dedicate time and resources to cybersecurity. Hackers are out there, in many cases far across the globe, and they’re on the prowl for vulnerable companies. These criminals typically strike at random — doing damage to not only a business’s ability to operate, but also its reputation. One way to protect yourself, at […]

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Tax Planning

Can you deduct student loan interest on your tax return?

Notebook with the phrase Student Loan Interest Deduction written in it, post it with a question mark on the page. Various post its on desk surrounding it

August 8, 2023

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The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits. The deduction is phased out if your […]

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Technology

Protecting Your Business While Using AI

August 4, 2023

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Have you ever wondered whether the photo or video you’re viewing, the audio you’re listening to or the article you’re reading is real? Artificial intelligence (AI) can make the line between authentic and inauthentic hard to determine. For fraud perpetrators, the ability to create deepfakes, voice clones or machine-generated communications can make their scams far more […]

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Employee Relations

Should your business add a PTO buying feature to its cafeteria plan?

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August 3, 2023

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With the pandemic behind us and a red-hot summer in full swing, many of your company’s employees may be finally rediscovering the uninhibited joys of vacation. Your workers might be having so much fun, in fact, that they might highly value being able to buy even more paid time off (PTO) as an employee benefit. […]

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Author: H&B

Guaranteeing a loan to your corporation? There may be tax implications

What Are the Tax Implications of the New Lease Accounting Rules?

4 Common Estate Planning Pitfalls

Handling Student Loan Debt

Disabled family members may be able to benefit from ABLE accounts

Now Hiring: Creative Ideas to Attract Skilled Workers

5 tips for more easily obtaining cyberinsurance

Can you deduct student loan interest on your tax return?

Protecting Your Business While Using AI

Should your business add a PTO buying feature to its cafeteria plan?

A Comprehensive Approach to Goal-Based Financial Planning