The straight line

If you own a profitable, unincorporated business with your spouse, you’re probably fed up with high self-employment (SE) tax bills. An unincorporated business in which both spouses are active is typically treated as a partnership that’s owned 50/50 by the spouses — or a limited liability company (LLC) that’s treated as a partnership for tax...

When you hear the term “direct deposit,” you may think about payroll but that is not the only way businesses can use this time and money-saving service. What about the checks you write for expense reimbursements or commissions? If you operate a corporation, how about depositing the dividend checks of shareholders into the bank accounts of...

One of the most effective and inexpensive ways of building employee loyalty is to hold regular outings and get-togethers. By holding staff gatherings, you build loyalty and form bonds outside the workplace. Plus, you get a major tax break. You can hold a staff party at a restaurant or treat your entire staff and their families...

Are you an “experienced” taxpayer? Here are a couple of age-based tax breaks that seniors shouldn’t overlook when filing their 2016 returns. Claim Your Rightful Medical Expense Deductions If you’re 65 years of age or older, you may have fallen into the habit of automatically claiming the standard deduction instead of itemizing your deductions. Taking the...

We recently sent out a survey to our clients asking about their use of our Secure Client Portal. We weren’t surprised by the results, so we wanted to provide you some additional information regarding it. Our intent is that more clients will start to utilize this feature. Gardiner Thomsen understands how important security is to...