Posts By: Zinner & Co.
Top 10 Tax Tips about Debt Cancellation You Need to Know
So, you are feeling pretty good about that lingering debt that has finally been stamped “paid in full.” 
Maybe you have refinanced, modified a loan or emptied the piggy bank to clear last year’s credit card frenzy that left you with a bothersome monthly payment, accruing fees and a high interest rate. But, is it all that simple? Will debt cancellation bu ok “as is” or are there other considerations to factor?
As recommended and published by the IRS, below, find a few of most common situations that you should be aware of surrounding debt cancellation and income.
IRS Experienced Identity Theft of IP PINs
The following is an article published March 2, 2016, by Michael Cohn of Accounting Today.
read more…Not So Quick: Reducing internal fraud when using Quickbooks
As a CPA who has watched the industry change over the years, I am excited to see the continual merge of technology with accounting. As a result, there are many programs on the market to help non-CPAs help keep the books in order. One of the most popular is QuickBooks.
I have spoken with many clients who view their colleagues as very benevolent and ethical individuals. They are in business to reach the greater goals and our not-for-profit clients and their employees are passionate about their mission.
I have found that at times, their trusting nature of the noble people in their organization has caused them to lower their guard to some common fraud threats within their business or organization.
Both Sides of the Coin: What you need to know if you issue or receive 1099 forms
Deep into February, I begin to receive two very common questions:
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The ACA and Employers: How Seasonal Workers Affect Your ‘Applicable Large Employer’ Status
Reasonable Compensation for Shareholders of Corporations
Whether you operate your business in a C corporation or an S corporation, the matter of “reasonable compensation” is an important topic to discuss with your tax practitioner. There are key differences in how “reasonable compensation” is defined in connection with the two types of corporations.
C Corporation
IRS Identifies and Halts Recent Threat to its E-file PIN Application
From: IRS.gov
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Quick Facts About the Tax Treatment of Contingent Attorney Fees
Zinner & Co. Phone and Fax Lines Experiencing Interruptions in Service
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.
The SECURE Act of 2019
A new piece of legislation enacted in late December will help simplify the retirement system and help individuals increase their savings. The “Setting Every Community Up for Retirement Enhancement” Act or SECURE Act, which was part of the Further Consolidated...
Zinner & Co. Sponsors Cleveland Play House’s 20th Annual Festival of Trees
Zinner & Co. is pleased to sponsor and support our long-time client, The Cleveland Play House, and their 20th Annual Festival of Trees. The Festival is located in the Allen Theatre Lobby and features over 30 holiday trees decorated and sponsored by leading...
Long Live Your Budget!
Last year you thoughtfully constructed a budget. You painstakingly evaluated your projected income and expenses. You pored over your cash flow projections. You wiled away the hours getting the best snapshot you could of your business in the year to come. Well, the 4th...
7 Best Practices for QuickBooks Use
If you are using QuickBooks, you are not alone. In fact, QuickBooks is the market share leader for small business accounting. Like most software packages, most users do not take advantage of the full capabilities of the system. To get the most out of your investment...
5 Reasons You Should Begin Planning for Tax Season NOW
It’s the 4th quarter. The holidays are right around the corner. The last thing you may want to think about is income taxes … but there are some compelling reasons why you should be thinking ahead. Last year’s tax season saw the biggest change to the tax code in over...
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