The Internal Revenue Service (IRS) released the annual inflation adjustments to the gift tax annual exclusion and other items for tax years beginning in 2013.
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FDIC Unlimited Protection to End
While consumer protection from the Federal Deposit Insurance Corporation (FDIC) continues at $250,000 per account, many businesses and non-profits had been enjoying unlimited protection for non-interest-bearing accounts (e.g., checking accounts). That unlimited protection will end on December 31, 2012.
read more…New Revisions to Bankruptcy Tax Guide
The Internal Revenue Service released multiple revisions to the Bankruptcy Tax Guide, Publication 908 (Rev. October 2012).
read more…Tax Rate Changes Throughout Northern Ohio
Effective April 1, 2012, three Ohio counties will be subject to the following tax rate changes:
read more…How to Protect Canceled Checks for Audits
It is no secret that banks have been handling checks electronically for years, leaving behind the cost and timeliness it takes to move paper checks.
read more…Recent Name Change? Easy Steps to Avoid Tax Return Problems
If you recently changed your name after a marriage, divorce or other reason, a mismatch between the name shown on your tax return and Social Security Administration records can cause problems in the processing of your return – including a delay in your refund.
read more…Some Things You Should Know about Tax Penalties
Taxpayers and Identity Theft
Tax related identity theft is a growing problem in our country. Tax return identity theft occurs when someone uses a legitimate taxpayer’s personal information to fraudulently file a return and claim a refund.
read more…Ringing in the New Year with New Tax Provisions
A new year means new changes, even in the tax world.
read more…Debt Restructuring: When Modifying Debt Leads to Tax Consequences
What do you do when you find yourself “underwater” on your loans, meaning the property you own is worth less than the loan balance you owe?
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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.
Using Your 990 to Tell Your Story
More and more third parties are looking at not-for-profit organizations’ IRS Form 990, so don’t just report; learn how you can use your 990 to tell your organization’s story. The 990 is an annual informational tax return that is required to be filed by not-for-profit...
Board Member’s Fiduciary and Governance Responsibilities – Board Members’ Series (Part 5)
Part 5 of a 5 Part Series Can board members be held personally liable for actions of the organization? Yes! Agreeing to sit on a board for a nonprofit is a great way to donate your time and expertise. However, it comes with a great deal of responsibility. Board...
5 MUST HAVE Internal Control Concepts that Your Organization Should Implement Immediately
Estimates show that over 5% of all revenue is lost to fraud and theft each year. The numbers are staggering - odds are if you have not experienced it, you will. One of the best ways to prevent fraud and theft is to implement a system of internal controls (though no...
7 Things to Consider Before Acquiring a Competitor
One of the fastest and most effective ways to gain momentum and market share is through the acquisition of a competitor. Acquiring a competitor has two distinct advantages – it allows you to eliminate competition; and it allows you to gain new products,...
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? Starting December 8, 2016, ODT began sending notices to...
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