H&B, Author at Hutchinson and Bloodgood LLP

Technology

Getting into data analytics without breaking the bank

Office Conference Room Meeting Presentation: Latin Businessman Talks, Uses Wall Tv To Show Company Growth With Big Data Analysis, Graphs, Charts, Infographics. Multi Ethnic E Commerce Startup Workers

January 11, 2023

Most business owners would probably agree that, in today’s world, data rules. But finding, organizing and deriving meaning from the terabytes upon terabytes of information out there isn’t easy. How can your company harness the power of data without throwing dollars into the technological void? By investing in a formal initiative to incorporate data analytics into […]

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Tax Planning

Employers should be wary of ERC claims that are too good to be true

Employee Retention Tax Credit Papers And Folder.

January 10, 2023

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The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 […]

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Human Resources

Unused PTO a problem? Consider a contribution arrangement

Pto Paid Time Off Clock Vacation Hours Leave D Illustration

January 4, 2023

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A new year has arrived. For many businesses, this means employees’ paid time off (PTO) arrangements have reset. And at companies with “use it or lose it” policies, workers have likely left a few or perhaps many unused hours on the table. It’s a growing problem. A July 2022 survey conducted by Sorbet, a provider of […]

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Retirement Planning

SECURE 2.0 law may make you more secure in retirement

Gold Egg In A Nest With The Word Retirement Written On A Notecard And The Words Secure . Off To The Right

January 3, 2023

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A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022. SECURE 2.0 is meant to build on the original […]

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General

Look forward to next year by revisiting your business plan

A Boss With Open Arms Facing The Future Prospects Of His Business For The Year .

December 28, 2022

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Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a good way to double-check your objectives and expectations is to revisit your business plan. Remember your business plan? If you created one recently, or keep yours updated, it might be […]

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Tax Planning

Renting to a relative? Be aware of these tax rules

Red Sign That Says: For Rent To Relatives?

December 27, 2022

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If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules Renting out a home or apartment that you own may result in a tax loss for you, even if the rental income is more than your operating […]

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Retirement Planning

Are You Missing the Roth IRA Boat?

Two Piggy Banks Facing Each Other With Rolled Up Dollar Bills Between Them. One Bank Is Pink And Says Traditional Ira And One Is Blue And Says Roth Ira.

December 21, 2022

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Many self-employed individuals are eligible to make annual contributions to Roth IRAs, despite having healthy earnings from their businesses. But some haven’t yet taken advantage of this retirement saving strategy. Making annual Roth contributions can have a big upside by allowing you to accumulate a federal-income-tax-free nest egg for retirement. Roth IRA Basics Contributions to Roth […]

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Retirement Planning

Save for retirement by getting the most out of your 401(k) plan

Stacked Building Blocks With K Stamped On The Top Blocks

December 20, 2022

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Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg. If you’re not already contributing the maximum allowed, consider increasing your contribution. Because […]

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Tax Planning

Is a Lease with an Option to Buy a Home Right for You?

House Keys On A Keyring With A House Trinket Attached On A Wooden Table

December 15, 2022

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As interest rates rise and economic uncertainty abounds, many people have decided to lease their homes rather than buy them outright. But some renters may have a road to home ownership — through a lease with the option to buy. Such arrangements offer advantages to both renters (lessors) and landlords (lessees). Regardless of which side of […]

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Software

Timing is everything when it comes to accounting software upgrades

December 14, 2022

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“Well, it still works, and everyone knows how to use it, but….” Do these words sound familiar? Many businesses stick with their accounting software far too long for these very reasons. What’s important to find out and consider is everything that comes after the word “but.” Managers and employees often struggle with systems that don’t provide […]

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Author: H&B

Getting into data analytics without breaking the bank

Employers should be wary of ERC claims that are too good to be true

Unused PTO a problem? Consider a contribution arrangement

SECURE 2.0 law may make you more secure in retirement

Look forward to next year by revisiting your business plan

Renting to a relative? Be aware of these tax rules

Are You Missing the Roth IRA Boat?

Save for retirement by getting the most out of your 401(k) plan

Is a Lease with an Option to Buy a Home Right for You?

Timing is everything when it comes to accounting software upgrades

A Comprehensive Approach to Goal-Based Financial Planning