Blog & Newsroom

Posts By: Zinner & Co. Tax Department
The Potential Pitfalls of Self-Directed IRAs

The Potential Pitfalls of Self-Directed IRAs

by | 31 Oct |

A self-directed Individual Retirement Account refers to any IRA that allows one to direct the IRA’s assets to be invested in nontraditional investment vehicles.  Zinner & Co. IRA investments

Examples of these might include real estate, collectibles, and limited partnership interests, and may be done with either a traditional or Roth IRA.  In order to participate in such a vehicle,  a trustee or custodian that specializes in this unique area must be identified and retained.  One must also become well acquainted with the prohibited transaction rules.  These rules require that only the IRA benefits from its transactions;  not the owner or their family.

read more…
Preventing Identity Theft Starts with Securing Your Personal Information

Preventing Identity Theft Starts with Securing Your Personal Information

by | 31 Oct | ,

Identity thieves cannot steal what they cannot find.  While you may never be able to “hide” or protect all of your personal, financial information from getting out there, there are a number of simple ways to limit the exposure of your information.  The Federal Trade Commission says there are four main ways to help protect yourself against identity theft.  

read more…
Kass completes term as President of the Cleveland/Akron Chapter of the Society of Financial Service Professionals

Kass completes term as President of the Cleveland/Akron Chapter of the Society of Financial Service Professionals

by | 29 Jun | ,

In June, Zinner & Co. Partner Howard J. Kass, CPA, AEP®, CGMA, finished his one-year term as president of the Cleveland/Akron Chapter of the Society of Financial Service Professionals (CAFSP).

A CAFSP member since 2010, Kass was thankful for the support he received from the organization’s officers and board members during his term.

read more…
IRS Okays home equity deductions

IRS Okays home equity deductions

by | 20 Jun | , , , , ,

The Tax Cuts and Jobs Act of 2017 affected the tax deduction for interest paid on home equity debt as of 2018.

Under prior law, you could deduct interest on up to $100,000 of home equity debt, no matter how you used the money. The old rule is scheduled to return in 2026.

The bad news is that you now cannot deduct interest on home equity loans or home equity lines of credit if you use the money for college bills, medical expenses, paying down credit card debt, etc.

The good news is that the IRS has announced “Interest on Home Equity Loans Often Still Deductible Under New Law.”

read more…
Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law

Updated Withholding Calculator, Form W-4 Released; Calculator Helps Taxpayers Review Withholding Following New Tax Law

by | 28 Mar | , , ,

WASHINGTON –The Internal Revenue Service recently released (2/28/18 irs.gov) an updated Withholding Calculator on IRS.gov and a new version of Form W-4 to help taxpayers check their 2018 tax withholding following passage of the Tax Cuts and Jobs Act in December. estate-tax-portability.png

The IRS urges taxpayers to use these tools to make sure they have the right amount of tax taken out of their paychecks.

“Following the major changes in the tax law, the IRS encourages employees to check their paychecks to help ensure they’re having the right amount of tax withheld for their personal situation,” said Acting IRS Commissioner David Kautter. read more…

Working in the Gig Economy: What you need to know about potential tax consequences

Working in the Gig Economy: What you need to know about potential tax consequences

by | 19 Mar | , , , ,

If you use one of the many online platforms available to rent a spare bedroom, provide car rides, or to connect and provide a number of other goods or services, you’re involved in what is sometimes called the sharing or gig economy.Zinner helps folks in the gig economy.jpeg

An emerging area of activity in the past few years, the sharing economy has changed how people commute, travel, rent vacation accommodations and perform many other activities.

Also referred to as the on-demand, gig or access economy, the sharing economy allows individuals and groups to utilize technology advancements to arrange transactions to generate revenue from assets they possess – (such as cars and homes) – or services they provide – (such as household chores or technology services). read more…

Scam Alert: Fraudsters Posing as Taxpayer Advocacy Panel

Scam Alert: Fraudsters Posing as Taxpayer Advocacy Panel

by | 19 Mar | , , , , , , ,

Some taxpayers receive emails that appear to be from the Taxpayer Advocacy Panel (TAP) about a tax refund. These emails are a phishing scam, trying to trick victims into providing personal and financial information.

Scam Alert written on the road.jpeg

 Do not respond or click any link. If you receive this scam, forward it to phishing@irs.gov and note that it seems to be a scam phishing for your information.

TAP is a volunteer board that advises the IRS on systemic issues affecting taxpayers. It never requests, and does not have access to, any taxpayer’s personal and financial information.
read more…

IRS Requires Taxpayers to Validate ID

IRS Requires Taxpayers to Validate ID

by | 19 Mar | , , , , ,

The IRS recently announced additional requirements for taxpayers and tax professionals to verify their identities when they call as part of security efforts.

Taxpayers and professionals should have the following documents ready when they call:

  • Social Security numbers and birth dates for those who were named on the tax return in question
  • An Individual Taxpayer Identification Number (ITIN) letter if the taxpayer has one in lieu of a Social Security number (SSN)
  • Filing status – Single, Head of Household, Married Filing Joint or Married Filing Separate
  • The prior-year tax return. Telephone assistors may need to verify taxpayer identity with information from the return before answering certain questions
  • A copy of the tax return in question
  • Any IRS letters or notices received by the taxpayer read more…

About Us

Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.

Recent Blog Posts

How to Avoid IRS Scams During Tax Season

February 19, 2025 at 11:03 AM

Tax season can be stressful, but it becomes even more challenging when scammers try to take advantage of unsuspecting people. Each year, tax-related scams cost individuals thousands of dollars, and no one wants to become a victim. With the rise of phishing attempts,...

Zinner & Co. Names Laura Haines Partner

February 19, 2025 at 10:50 AM

Snyder and Hilditch also promoted Zinner & Co. is proud to announce that Laura Haines, CPA, has been named a partner. Prior to her promotion, she was the firm’s Accounting Tax Services Senior Manager. “I am excited for this opportunity,” said Haines. “It will be...

Staying Safe Online During The Holidays: A Guide for Everyone

January 27, 2025 at 4:43 PM

The holidays are a time for fun, gifts, and being with your family, as many people shop online, chat with friends, and share their holiday moments. While the internet can be a great place for all this, it is important to stay safe, especially during the holiday...

Ohio Homebuyer Plus Program

January 27, 2025 at 11:07 AM

Many Ohioans have faced obstacles to home ownership due to rising prices and high mortgage rates. As such, the Ohio Homebuyer Plus Program is designed to assist Ohioans on their homebuying journey. Ohio is the only state to have such a program, it creates specialized...

Appeals Court grants temporary stay to BOI Reporting

December 26, 2024 at 5:09 PM

On Dec. 23, the U.S. Court of Appeals, Fifth Circuit granted a temporary stay of the nationwide injunction which we previously communicated with you about related to the Corporate Transparency Act (CTA).  This stay has reinstated the enforcement of the CTA, and...

Have Nagging Financial Questions?

Ask The Expert

Send us your questions and we’ll share our insights with you on our blog!

Categories

Share Your Idea For 
A Zinner Blog Article

Submit Your Idea