Zinner & Co. Blog and Newsroom

Lessons from this Tax Season

Posted by Zinner & Co. Tax Team on Apr 30, 2019 7:22:52 AM

Well…it’s over.  This year’s individual tax return filing deadline has come and gone.  As the dust settles and we take stock of this year’s tax season, a few trends have appeared.

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Topics: deductions, taxes, income tax, IRS, Tax Cuts and Jobs Act of 2017

Ask the Expert: Should I Take the Educational Tax Breaks or My Child?

Posted by Zinner & Co. Tax Team on Mar 22, 2019 6:12:00 AM

Should I Take the Educational Tax Breaks or My Child?

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Topics: education, tax services, deductions, income tax

5 Reasons You Shouldn’t Do Your Own Taxes This Year

Posted by Zinner & Co. Tax Team on Mar 19, 2019 8:16:00 AM

Every year, a group of adventurous souls decides: This is the year I’m going to prepare my own tax return! While we certainly applaud an individual’s right to establish self-reliance and try to save money on preparation fees, it’s rarely a good idea.

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Topics: tax services, deductions, income tax, IRS

Ask the Expert: Should I Take the Educational Tax Breaks or My Child?

Posted by Zinner & Co. Tax Team on Mar 13, 2019 7:52:02 AM

Who should take the educational tax breaks, me or my child?

That’s a great question! The answer is: It depends.

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Topics: education, deductions, income tax

6 Common Tax Mistakes You Should Avoid

Posted by Matt Szydlowski, CPA on Jan 29, 2019 7:02:00 AM

Tax season is here, once again! I anticipate that this season will be different than tax years of the recent past due to the Tax Cuts and Jobs Act (“TCJA”). While a lot has changed, there are a few things about tax season that never change – mistakes.

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Topics: Taxes - Individual, deductions

IRS Increases Mileage Rates for 2019

Posted by Zinner & Co. Tax Team on Dec 20, 2018 12:17:57 PM

The IRS has announced the 2019 standard mileage rates used for calculating deductible costs for operating an automobile for business, charitable, medical or moving purposes. 

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Topics: business travel expense, deductions, IRS, Tax Cuts and Jobs Act of 2017

ALERT: Be Wary of States Circumventing the $10,000 SALT deduction limitation

Posted by Zinner & Co. Tax Team on Sep 20, 2018 10:19:00 AM

Current Law:

The Tax Cuts and Jobs Act of 2017 limits individual taxpayer's state and local tax (SALT), itemized deduction to $10,000 (including real estate taxes). The previous law allowed an unlimited deduction. This change may be detrimental to many individual taxpayers who relied heavily on these deductions in the past.

State Work-Arounds:

Some states have considered "work-arounds" to combat this limitation. Select states (California, Connecticut, Illinois, New York and New Jersey, thus far) have created state

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Topics: Taxes - Planning, Rules and Returns, Taxes - Individual, deductions, taxes, IRS, tax avoidance, Tax Cuts and Jobs Act of 2017

Tax planning – Why is this year any different?

Posted by Zinner & Co. Tax Team on Sep 17, 2018 9:26:00 AM

Every year at this time, you start to hear more about the importance of year-end income tax planning in radio and television commentary. For many people with more complex businesses or investments, the beginning of the 4th quarter of the year signals the time to start to organize their tax documents and to set-up an appointment with their advisors to review results.

This year is different! This year, tax planning should be important to everyone, not just for those that have complex tax situations. The implementation of the Tax Cuts and Jobs Act of 2017 has impacted every taxpayer. While we have all heard about it, not everyone has an applied working knowledge of what the impact will be in the first annual income tax filing season, which begins in about three months.

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Topics: payroll, Taxes - Corporate & Business, Taxes - Individual, deductions, income tax, Tax Cuts and Jobs Act of 2017, health care

The Rules Have Changed for Attending the Game (and Other Entertainment Events)

Posted by Zinner & Co. Tax Department on Jan 27, 2018 8:43:00 AM

The recent enactment of the Tax Cuts and Jobs Act (TCJA) brought many changes to how individuals and businesses are affected by our tax system.  

Among the deductions affected was the deduction for meals and entertainment incurred in the course of operating a business.  Prior to the enactment of the TCJA, which took effect for many provisions on January 1, the allowable deduction for meals and entertainment expenses was capped at 50% of the allowable amount of such costs that were incurred.  Under the old law, no deduction was allowable unless the cost was either directly related to or associated with the conduct of business.

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Topics: Taxes - Corporate & Business, deductions

5 Things Every Small Business Owner Should Do Before Dec. 31.

Posted by Richard Huszai, CPA on Dec 13, 2016 10:11:45 AM

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.

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Topics: Taxes - Corporate & Business, Business - Management, Issues & Concerns, Richard Huszai, CPA, deductions

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