Zinner & Co. Blog and Newsroom

Your Income Tax Return: Why You Have Three Extra Days to File and Pay

Posted by Zinner & Co. Tax Department on Mar 20, 2017 2:00:30 PM

Taxpayers will have until Tuesday, April 18, 2017 to file their 2016 returns and pay any taxes due. That’s because of the combined impact of the weekend and a holiday in the District of Columbia. 

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Topics: Taxes - Individual, IRS

Get Schooled Before Filing Your FAFSA

Posted by ZInner & Co. Tax Team on Mar 14, 2017 12:14:31 PM

If you are a parent of a soon-to-be college student or perhaps thinking of attending or completing your education, you will want to fill out a Free Application for Federal Student Aid, also known as a FAFSA. 

But where to start? As they say, knowledge is power! For many, the FAFSA, and the process of completing a FAFSA, can be confusing. 

Lessening the confusion
First, take time to navigate through the FAFSA website. Unfortunately, a simple Google search with the terms FAFSA will return sites that may or may not be accurate.

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Topics: Financial Planning - College

Charitable Giving: Are You Doing Harm by Doing Good?

Posted by Chris Valponi, CPA on Mar 8, 2017 4:59:23 PM

Leaving a philanthropic gift to a charitable organization can be a rewarding experience, both for the donor and the designated organization.

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Topics: non-profits, Chris Valponi, not-for-profit

IRS Has Refunds Totaling $1 Billion for People Who Have Not Filed a 2013 Federal Income Tax Return

Posted by ZInner & Co. Tax Team on Mar 4, 2017 12:08:19 PM

WASHINGTON — The Internal Revenue Service announced today that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal income tax return. 

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Topics: Taxes - Individual, IRS

'Tis the Season for Tax Scams and Fraud

Posted by Zinner & Co. Tax Department on Feb 28, 2017 10:27:51 AM

Tax season is prime time for scammers and cyber criminals. Beyond identity theft, which is seemingly quite commonplace, tax scams have the dubious distinction of rising to the top of the Better Business Bureau's list of scams in 2016.

According to the Better Business Bureau Scam Tracker, the top ten list includes: 

  • Tax scams
  • Debt collections
  • Sweepstakes/prizes/gifts
  • Online purchase
  • Employment
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Topics: identity theft, scams, fraud, Howard Kass, Taxes - Individual, taxes, IRS

REAL ID: What it is and how it will affect you

Posted by Zinner & Co. on Feb 27, 2017 12:47:22 PM

Credit: U.S. Department of Homeland Security

Secure driver's licenses and identification documents are a vital component of a holistic national security strategy. Law enforcement must be able to rely on government-issued identification documents and know that the bearer of such a document is who he or she claims to be.

The REAL ID Act is a coordinated effort by the states and the Federal Government to improve the reliability and accuracy of state-issued identification documents, which should inhibit terrorists’ ability to evade detection by using fraudulent identification.

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Topics: identity theft, Howard Kass, Business - Management, Issues & Concerns

Money: How Much is Enough?

Posted by Gary Sigman, CPA, M.Tax, PFS, AEP on Feb 25, 2017 12:44:42 PM

Financial planning is one of the most important (if not the most important) and concerning money topics that many folks share. How much should you have saved by a certain age? Should new parents start to save now for their newborn baby or is it ok to wait awhile? How much will you need in retirement for healthcare costs or everyday living?

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Topics: Gary Sigman, financial planning, Retirement Planning & IRAs

Ohio tax changes on the horizon, sales tax to become even more significant

Posted by ZInner & Co. Tax Team on Feb 13, 2017 11:32:40 AM

Is your business maximizing available exemptions and incentives?

This article appears in Crains Cleveland Business 

By Steven A. Dimengo and Richard B. Fry III 
Buckingham, Doolittle & Burroughs, LLC.

February 12, 2017 - Gov. Kasich’s quest to lower the Ohio personal income tax rate continues in his latest proposed biennium budget, even in the face of Ohio’s tax revenue falling short of estimates.

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Topics: Howard Kass, Taxes - Individual, income tax

Yes, You Can Be Paid Too Much . . . Or Too Little: Understanding Shareholder Compensation

Posted by Howard J. Kass, CPA, AEP®, CGMA, Partner on Feb 9, 2017 8:04:00 PM

Employees of closely held corporations, whether structured as a C corporation or an S corporation, who also serve as shareholders of that same corporation, may find themselves in a precarious position when it comes to determining their compensation.

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Topics: Howard Kass, Taxes - Individual

Patience is a Virtue: Why you need to (still!) wait to receive your tax refund

Posted by Jonathan Elliott on Feb 8, 2017 9:53:20 AM

For the taxpayers who went through the painstaking process of sifting through their shoebox full of receipts in the attempt to file their income tax return early, we have to offer you a gentle and friendly reminder that refunds stemming from returns claiming the Earned Income Tax Credit or the Additional Child Tax credit will be delayed until February 15. 

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Topics: Taxes - Individual, Jonathan Elliott


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