One of the most beneficial and underutilized tax credits introduced as a result of the COVID-19 pandemic relief funds is the Employee Retention Credit (ERC).
To date, our clients have filed and claimed ERC refunds exceeding $2,000,000 under this program. Claims for these refunds are included in the filing of original or amended Federal quarterly payroll tax returns. read more…
Over the past decade, more people have moved to electronic payments of their monthly bills and expenses.
The days of sitting down and writing checks to pay bills has quickly become a thing of the past. In fact, for many people under the age of 30, they do not know, nor have they ever had a physical checkbook!
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Zinner & Co. urges our clients who use Intuit QuickBooks Desktop for Windows to upgrade their one-time purchase license before Dec. 10.
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As the end of the year approaches, now is a great time for businesses to get a jump start on year-end payroll processing.
Even if you use an outsourced payroll provider, there are some things that you can do to make the year-end processing more efficient.
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According to Accounting Today, the Internal Revenue Service began sending out letters from its Automated Collection System function in June and restarted the income tax levy program in July.
Suspended last year, the IRS tax levy program includes both tax levy and treasury payments. read more…
As small business owners complete the second quarter 2021 filing of their state unemployment tax payments with the Ohio Department of Job and Family Services, they should be aware that tax saving benefits have been preserved for the coming years.
On June 29, Gov. Mike DeWine signed House Bill 168, which appropriates $2.2 billion of the $2.7 billion that Ohio is slated to receive this year under the federally funded American Rescue Plan. read more…
For many business owners, the Paycheck Protection Program loan journey is not over when they receive acknowledgement of loan forgiveness from their local lender and from the Small Business Administration. From a tax perspective, the map that lays out the tax impact remains unclear.
During the fourth quarter of 2020, the primary question most business owners and tax professionals grappled with was whether or not the expenses paid using PPP Loan proceeds would be tax deductible and/or whether the loan proceeds were considered taxable income. The uncertainty related to these questions made tax planning for the 2020 calendar year difficult read more…
On July 1, Ohio Gov. Mike DeWine signed House Bill 110 into law approving the state’s $72 billion two-year budget.
The biennial budget provides funding for state operations, overhauls K-12 school funding, provides $250 million in broadband support for underserved areas and makes numerous tax policy changes.
One of the more notable tax-related changes involves the municipal income tax and working from home.
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In early June, the U.S. Treasury Department released its general explanations of proposed changes to the U.S. tax code.
Please note, the following items have only been proposed. In order to become law, they must pass through both the U.S. House of Representatives and the U.S. Senate.
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In early June, the Internal Revenue Service started sending letters to families about how they may be able to qualify for monthly Child Tax Credit payments.
The letters are going out to families who may be eligible based on information they included in either their 2019 or 2020 tax return or who used the Non-Filers tool on IRS.gov last year to register for an Economic Impact Payment.
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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,...
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...
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...
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...
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...
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