With 2016 coming to a close, many individuals and business owners are asking what they can do to reduce taxes, save money, and reduce costs
Not rendering correctly? View this email as a web page here.
ODT to require driver’s license, ID number on returns to fight fraud
By The Ohio Society of CPAs The Ohio Department of Taxation will require a driver’s license or state ID number on electronic returns for Tax Year 2016. If the taxpayer has neither, they must declare so on the return.That information was previously optional.
Good News for Many Plagued by Strict IRS Rules on Home Mortgage Interest Deduction
By Jonathan Elliott Accounting and Tax Services Staff Accountant Traditionally, taxpayers have been able to deduct mortgage interest paid on mortgages of up to $1 million and Home Equity Lines of Credit of up to $100,000, for a total of $1.1 million in debt upon which mortgage interest paid can potentially be deductible.
Ohio Employers to see a FUTA Tax Reduction of $72 per Employee
By Howard J. Kass, CPA, AEP®, CGMA Partner
As a result of the State of Ohio paying off its unemployment compensation debt to the federal government, Ohio employers will reap the benefit of lower Federal Unemployment Tax they pay this coming January. According to the Ohio Department of Job and Family Services, the state paid the remaining balance of nearly $218 million to satisfy its obligation to the federal government earlier this year.
By Richard Huszai, CPA Accounting and Tax Services Senior
For many small business owners, the fourth quarter signifies a final flurry of activity. Whether that is projecting inventory against sales or contemplating major purchases against anticipated revenue, for those who use QuickBooks software, it may seem as if the program takes care of the business loose ends on their behalf. As a result, business owners view the end-of-year task list as one less thing to think about in the middle of the night.
With the 2016 tax year coming to a close, many individuals and business owners are asking what they can do to reduce their tax obligation, discover tax credit opportunities, or set themselves in a more favorable tax position.
From accelerating mortgage payments to charitable contributions, to deferments and deductions, this Year End Planning Ebook will provide you with options, suggestions and solutions you can begin to implement right now.
And, if you have any questions, our CPAs and management advisors will meet with you for a no-cost, no-obligation consultation to ensure you step in to 2017 with strong financial footing.
Tis' the Season to be Merry…
The Zinner team enthusiastically volunteered their time on-site to answer the always-ringing phones and lend a hand to help make the annual WDOK Rainbow Radiothon a huge success.
Thank you to the amazingStar 102 Clevelandlisteners and the generous donors ofUH Rainbow Babies & Children'shospital for their unwavering support and caring spirit during the event. And, who could miss the bright lights ofThe Terminal Toweradorned in her colors of the Rainbow! Special thanks toTim RichardsandJen Tooheyfor their tireless efforts each year to help make the event memorable and meaningful for the patients and their families.
We're proud of Zinner Managing Partner Robin Baum who serves as the Rainbow Babies & Children’s Hospital Foundation President, together with the RBC Foundation Board for their tremendous work to make this event happen. If you missed the Radiothon, you can still give - visithttps://secure.uhgiving.org/rainbow-radiothon-donations
... And Festive!
We're thrilled to continue our support for the 2016Cleveland Play HouseFestival of Trees. The event features dazzlingly decorated trees sponsored by area companies and shows off the masterful talents of area designers. Held in the lobbies of The Allen Theater, Festival of Trees is free and open to the public through December 23.
Partners (pictured L-R) Brett Neate, Robin Baum, Sue Krantz, and Gabe Adler helped celebrate the opening of the 2016 Gift of Lights holiday display at nearby Victory Park Ohio. The family-friendly event, of which the firm is a sponsor, benefitsUH Rainbow Babies & Children'sHospital. Gift of Lights, which runs until January 1, 2017, includes a 1.2 mile drive-through lighting display and various activities throughout the season.
Although intern recruiting season has concluded, the Zinner team is highly visible year round at regional college campuses. We believe great careers extend beyond a tax season internship. Our team presents to accounting and business classes throughout the academic year as well as being hands-on ambassadors with Beta Alpha Psi and accounting association events on- and off-campus.
Nearly 45 students joined Staff Accountant Eric James (left) as he presented “Stress and Time Management Strategies” to the members of Kent State University’s Beta Alpha Psi. Eric explained the need for organized thoughts and the importance of prioritizing tasks whether in the classroom or in the boardroom.
In Case You Missed It...
Howard Kass presented Structuring the LLC with Future Generations in Mindat the National Business Institute’s recent day-long seminar “Use of LLCs in Asset Protection and Estate Planning.” The seminar was part of the NBIs national continuing legal education and training program. If your professional or civic organization is searching for guest speakers, contact us--our leadership team is ready to present to your group on a variety of business topics and best practices.
Zinner & Co. 3201 Enterprise Parkway Suite 410 Beachwood, OH 44122 216.831.0733 You received this email because you are subscribed to Zinner Connect - Enewsletter from Zinner & Co. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails