Effective January 1, 2014, Ohio’s minimum wage will automatically increase from $7.85 to $7.95 per hour for non-tipped employees.
read more…
Posts By: Zinner & Co.
Errors in Payroll Tax Returns Claiming HIRE Act Benefits
The IRS has noted errors on payroll tax returns claiming Hiring Incentives to Restore Employment (HIRE) Act benefits.
read more…IRS Explains How Nonprofits Can Get Health Care Tax Credit
The Internal Revenue Service has posted information on how a nonprofit under Section 501(c) can claim the Small Business Health Care Tax Credit by filing a Form 990-T with an attached Form 8941 that explains how the claimed credit was calculated.
read more…Cost Limitations for Expensing Property Under Section 179
Revenue Procedure 2010-47 sets out the cost limitations for expensing property under section 179 for taxable years beginning in 2010. The aggregate cost of any section 179 property a taxpayer may elect to treat as an expense cannot exceed $500,000.
read more…IRS Offers New Guidance on FSA and HRA Debit Cards
The Internal Revenue Service issued new guidance allowing the continued use of health flexible spending arrangement (FSA) and health reimbursement arrangement (HRA) debit cards for the purchase of prescribed over-the-counter medicines and drugs.
read more…Ten Tips for Mortgage Debt Forgiveness
Mortgage debt can become overwhelming, but homeowners should be aware that there are exceptions that allow you to exclude certain cancelled debt on your principal residence from income.
read more…IRS Interest Rates to Remain the Same for Third Quarter of 2012
The Internal Revenue Service recently announced that interest rates would remain the same for the 2012 calendar quarter beginning on July 1.
read more…IRS Interest Rates to Remain the Same for First Quarter of 2013
The Internal Revenue Service recently announced that interest rates would remain the same for the 2013 calendar quarter beginning on January 1.
read more…Did you Take an Early Distribution from Your Retirement Plan?
Some taxpayers may have needed to take an early distribution from their retirement plan last year. The IRS wants individuals who took an early distribution to know that there can be a tax impact to tapping your retirement fund.
read more…Personal Use Of Employer Provided Cell Phones Generally Nontaxable Under New Guidance
Close to one year after cell phones were removed from the “listed property” category of Code Sec. 280F, IRS has explained the practical consequences of the change.
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.
IRS Sends Out Letters Regarding Monthly Child Tax Credit Payments
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...
Zinner & Co. LLP Formal Office Reopening on June 1
On June 2, the Ohio Department of Health issued a Director’s Order to rescind the vast majority of former health orders regarding mask mandates and social distancing. Businesses may continue to require mitigation measures (e.g., masking and social distancing) among...
On a Personal Level – What Has COVID Taught Us?
Since last March, our world dramatically changed in many ways! Based upon all of the changes that have been thrust upon us, what have we learned about the following areas of concern that we may not have thought about pre-COVID, regardless of age? If I am unable to...
This Is Our Shot
Zinner & Co. is proud to be a part of the Coalition to Stop The Spread, an initiative that recognizes the risk COVID-19 poses to Ohio’s economy. The business community, including members of our Coalition, continue to be part of the solution by disseminating facts...
DeWine Signs Tax Conformity Bill into Law
Ohio Gov. Mike DeWine signed Senate Bill 18 into law, which ensures that expenses paid with forgiven Paycheck Protection Plan loans become deductible for state income tax purposes. The legislation, which was supported by the Ohio Society of CPAs (OSCPA) will conform...
Send us your questions and we’ll share our insights with you on our blog!