The sales and use tax rate for Lake County (43) will increase from 7 percent to 7.25 percent effective July 1, 2025.
read more…
Posts By: Zinner & Co. Tax Team
Surviving Spouse Election to be Treated as Employee
Potential Income and Estate Tax Savings
The death of a husband or wife can be an overwhelming time for the surviving spouse, especially when it comes to financial decisions.
read more…
How to Avoid IRS Scams During Tax Season
Tax season can be stressful, but it becomes even more challenging when scammers try to take advantage of unsuspecting people.
read more…
Appeals Court grants temporary stay to BOI Reporting
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).
read more…
What to do if You Received a “Failure to File” Notice from the Ohio Department of Taxation
Did you receive an Ohio Individual Income Tax Failure to File notice (ITDQ0009) from the Ohio Department of Taxation (ODT) advising you that they did not receive an Ohio Individual Income tax return?
read more…
IRS Introduces New W-4 for 2020
The IRS has unveiled the new, redesigned Form W-4 for the tax year 2020. This new form eliminates many of the complex tables used in previous versions and includes many enhancements from the earlier draft version. read more…
IRS Waives Estimated Tax Penalties for 400,000 Taxpayers
The IRS has announced it will be automatically waiving penalties for over 400,000 taxpayers. The waived penalties apply to those who have already filed their 2018 taxes, but did not file a waiver seeking forgiveness for the under-payment penalty. read more…
IRS Establishes Safe Harbor for Real Estate Rental Businesses
The IRS recently provided guidance to real estate investors regarding the Qualified 
Business Income (QBI) deduction under the Tax Cuts and Jobs Act (TCJA.) One of the weaknesses of the QBI provision of the TCJA was a lack of clarity in section 199A, which allows some taxpayers with pass-through businesses (e.g. LLCs and S-Corps,) to deduct 20% of their qualifying income.
5 Reasons You Shouldn’t Do Your Own Taxes This Year
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.
Updated: 7 Important Tax Benefits of Real Estate Investing
Investing in real estate is a great way to develop wealth and improve your cash flow. In addition to the benefits of receiving monthly rental income, you can also potentially realize some significant tax benefits.
read more…
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.
Getting Older Still Has Its Tax Benefits
Bonus Senior Deduction Beginning with the 2025 tax year, seniors age 65 and older are eligible for a new tax break designed to provide meaningful relief at filing time. The new Bonus Senior Deduction, available through at least 2028, is aimed at helping...
Stay Safe While Shopping Online This Holiday Season
The holiday season is a time for joy, giving, and finding the perfect gifts for friends and family. Online shopping makes this easier than ever, but it also brings risks like scams, fraud, and cyber threats. To help you shop with confidence, here are 10 essential tips...
Employee Leave Donation
You may have heard the terms “donated leave” or “leave sharing” being used within the business community over the past few years. This has been something that various companies have adopted to help boost morale, promote compassion, and support their employees....
ODJFS adds new technology and customer service fee
In a letter dated Nov. 7, Ohio Department of Job and Family Services Director Matt Damschroder explained a new fee that employers will be charged on their quarterly unemployment insurance tax rate. Included within Ohio’s recently passed biennial budget (House Bill 96)...
What Does the Government Shutdown mean as Oct. 15 approaches?
Extended Filing Due Date Approaches for 2024 Individual Income and Gift Tax Returns As the Oct. 15, extension deadline looms for filing 2024 individual income and gift tax returns, what does the federal government shutdown mean for Internal Revenue Service employees...
Send us your questions and we’ll share our insights with you on our blog!