Zinner & Co. Blog and Newsroom

11 Inventory Control Fast Fixes to Improve Your Bottom Line

Posted by Chris Valponi, CPA on Aug 15, 2017 3:03:43 PM

For many companies, keeping close tabs on revenue, expenses, and profit is the number one priority. However, companies that carry inventory may not realize its direct effect on profitability.  This effect is known as shrinkage.  Shrinkage is the excess amount of inventory (in accounting records) that no longer exists in the actual inventory. In other words, it is a loss of inventory. There are several causes of shrinkage, such as:

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Topics: Audit and Assurance Department, fraud, Chris Valponi, internal control

The Ultimate Cheat Sheet for Ohio’s Sales Tax Holiday

Posted by Gabriel Kemble on Jul 27, 2017 5:06:21 PM

For many parents, the idea of getting their kids ready for back-to-school conjures up both a welcome relief and a financial frenzy. According to NEAToday.org, in 2016, parents spent $200, on average, per elementary student and $330 and $375 per middle and high school student, respectively. That is a lot of paper and pencils!  

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Topics: Ohio business owners, Taxes - Individual

Your Client Service Experience is Getting an Upgrade!

Posted by Zinner & Co. on Jul 20, 2017 10:29:56 PM

As we continue to invest in technology to provide our clients with the most reliable, secure, and up-to-date service, please note that on Monday, August 7, 2017, at 4 p.m., our phone, voicemail, and email will be offline temporarily for installation of a system upgrade.

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Topics: Zinner News

Firm Celebrates L | A | N | D  Studio’s Latest Installation

Posted by Zinner & Co. on Jul 9, 2017 8:00:00 PM

Partner Sue Krantz and Audit & Assurance Manager Chris Valponi were just two of the many folks who attended the opening of Land Studio’s “Dialogue” in the Eastman Reading Garden at the Cleveland Public Library. 

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Topics: Firm news

Ask the Expert: How to tell if it is really the IRS calling

Posted by Eric James on Jul 9, 2017 8:03:00 AM

Q:  I’m concerned. I was sure I paid my income tax this year when I filed, but I have just received a call from someone saying they are an authorized IRS collection agent and I need to pay a small balance now due ($350). The agent said I should pay by prepaid debit card.  What do you recommend?  

Bailey J., Private Business Owner
Akron, OH

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Topics: scams, fraud, Eric James, Ask the Expert

Domestic Bliss: What You Need to Know Before You Convert Your Primary Residence to a Rental

Posted by Richard Huszai, CPA on Jul 7, 2017 10:53:00 AM

For many, being in the position to either sell your primary residence or rent the property is a powerful one. Rental income can be a great additional source of income and the investment, if managed properly against the rest of one’s financial portfolio, can contribute to a nice tax shelter. 

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Topics: investments, Taxes - Individual, Richard Huszai, CPA

7 Mid-year Tax Tips Everyone Should Consider

Posted by Zinner & Co. Tax Department on Jul 6, 2017 10:04:47 AM

Thinking about income taxes should not just be an end-of-year or pre-April-15-panic occurrence. The well-informed taxpayer will think about these seven mid-year tax tips that could help save on his next income tax filing, as well as yours. 

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Topics: Taxes - Planning, Rules and Returns, Taxes - Individual

Show Me the Money! BWC annual True-up reports due soon

Posted by Sue-Ann Sanders on Jun 29, 2017 5:45:00 PM

The midway mark in the calendar year signifies a checkpoint for the Bureau of Workers Compensation (BWC). The BWC Annual True-up reports are due soon and while many companies are ready, some may still be a little fuzzy about the new process and timeline.

This is the second year for annual True-up reporting.  Most private employers are on a bi-monthly payment installment schedule (other than the minimum payers). If employers wish to elect a monthly installment option, they can make the change annually prior to the start of the new policy year,

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Topics: Bureau of Worker's Compensation, Business - Management, Issues & Concerns

IRS Cautions Taxpayers to Watch for Summertime Scams

Posted by Zinner & Co. Tax Department on Jun 29, 2017 9:37:42 AM

WASHINGTON – The Internal Revenue Service issued a warning that tax-related scams continue across the nation even thou

gh the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims. 

“We continue to urge people to watch out for new and evolving schemes this summer,” said IRS Commissioner John Koskinen. “Many of these are variations of a theme, involving fictitious tax bills and demands to pay by purchasing and transferring information involving a gift card or iTunes card. Taxpayers can avoid these and other tricky financial scams by taking a few minutes to review the tell-tale signs of these schemes.”

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Topics: scams, fraud, Howard Kass

Do You Have an HSA? What you need to know about the 2018 limits

Posted by Zinner & Co. on Jun 21, 2017 6:03:00 PM

The 2018 health savings account (HSA) guidelines were recently released by the Internal Revenue Service (IRS). These guidelines outline the inflation-adjusted contribution, deductible, and out-of-pocket spending limits for Health Savings Accounts (HSAs) and high-deductible health plans (HDHPs) for calendar year 2018. 

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Topics: HSA, Taxes - Planning, Rules and Returns, Taxes - Individual


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