H&B, Author at Hutchinson and Bloodgood LLP

Tax Planning

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Illustration Of A Ma On A Laptop Sitting On A Stack Of Coins In Front Of Various Graphs

December 13, 2022

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: Taxpayers other than corporations may be entitled to a deduction of up to 20% of their QBI. For […]

Find Out More

Estate Planning

Does your family business’s succession plan include estate planning strategies?

Smiling Senior Business Leader Embracing Coworkers

December 7, 2022

H&B

0

Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession. When a nonfamily business is sold to a third party, ownership and management succession typically happen simultaneously. However, in the context of a family business, there may be reasons to […]

Find Out More

Retirement Planning

Answers to your questions about taking withdrawals from IRAs

December 6, 2022

H&B

0

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA (including a SIMPLE IRA or SEP IRA) when you reach age 72. The rules for taking required minimum distributions (RMDs) are complicated, so here are some answers to frequently asked questions. What […]

Find Out More

General

Take a look at stock options as a recruitment tool

Word Stock Option Written With White Solid Letters

November 30, 2022

H&B

0

According to the U.S. Bureau of Labor Statistics, the U.S. unemployment rate rose slightly to 3.7% in October. Seeing as how that’s still a relatively low number, your business may be struggling to fill its open positions. Offering equity-based compensation to job candidates is one recruitment strategy to consider. Many companies have used stock options […]

Find Out More

General

Strategies for investors to cut taxes as year-end approaches

Pair Of Scissors Cutiing A Piece Of Paper In Half With The Word "taxes" On It

November 29, 2022

H&B

0

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments. Tax rates on sales Individuals are subject to tax at a rate as high as […]

Find Out More

General

Year-end giving to charity or loved ones

Dollar Wrapped In A Red Ribbon In Christmas Decorations.

November 22, 2022

H&B

0

The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before the end of the year. Here are the basic tax rules involved in these transactions. Donating to charity In 2022, in order to receive a charitable donation write-off, you must […]

Find Out More

General

10 Tips to Help You Combat Rising Costs

November 18, 2022

H&B

0

Inflation is up 8.3% year over year, according to the latest data from the U.S. Bureau of Labor Statistics. Many factors — including supply chain disruptions, multi-trillion-dollar government spending packages, the war in Ukraine and economic fallout from the COVID-19 pandemic — have contributed to higher prices at the gas pumps, on the grocery shelves and […]

Find Out More

General

Like every business, a start-up needs a sensible budget

Beautiful Business Woman Owner Selling Online Using Tablet To Chat With Customer.

November 16, 2022

H&B

0

An impressive 432,834 new business applications for tax identification numbers were submitted during October 2022, according to the U.S. Census Bureau. Indeed, despite the relatively higher costs of doing business these days, plenty of start-ups are still launching. One thing that every new company needs, along with a business plan, is a sensible budget. And that […]

Find Out More

General

Computer software costs: How does your business deduct them?

November 15, 2022

H&B

0

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others. In any of these situations, you should be aware of the complex rules that determine the tax treatment of the […]

Find Out More

General

Is Self-Employment Right for You?

November 11, 2022

H&B

0

For some time now, the media has highlighted the so-called “Great Resignation,” where legions of people have left their former jobs. If you’re among those who’ve resigned or you’re thinking about quitting, you may be considering a shift to self-employment. Before making the leap, though, you need to consider several factors that could be pros […]

Find Out More

Author: H&B

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

Does your family business’s succession plan include estate planning strategies?

Answers to your questions about taking withdrawals from IRAs

Take a look at stock options as a recruitment tool

Strategies for investors to cut taxes as year-end approaches

Year-end giving to charity or loved ones

10 Tips to Help You Combat Rising Costs

Like every business, a start-up needs a sensible budget

Computer software costs: How does your business deduct them?

Is Self-Employment Right for You?

A Comprehensive Approach to Goal-Based Financial Planning