Zinner & Co. Blog and Newsroom

Ask the Expert: What Does ‘Like-Kind’ Mean in a 1031 Exchange?

Posted by Zinner & Co. Real Estate Team on Nov 12, 2019, 5:06:00 AM

What Does ‘Like-Kind’ Mean in a 1031 Exchange?

That’s a great question – as you’re probably aware a 1031 Exchange refers to a provision in the U.S. tax code which allows real estate investors to sell or dispose of a piece of real property and purchase another piece of “like-kind” property without incurring any short-term tax consequences. But what does like-kind mean?

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Topics: real estate, income tax, tax avoidance, personal finance, 1031 Exchange

Governor Signs Tax Break for Teachers, Attorneys and Lobbyists into Law

Posted by Zinner & Co. Tax Team on Nov 11, 2019, 10:47:05 AM

Governor Mike DeWine has signed a bill into law that will allow Attorneys and Lobbyists to take the Business Income Deduction (BID) deduction.

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Topics: Ohio business owners, income tax, business income deduction, ohio

Zinner & Co. Supports Michelle’s Wish Foundation for Thanksgiving 2019

Posted by Zinner & Co. on Nov 8, 2019, 9:00:00 AM

For over 7 years, Zinner & Co. has committed to support the mission of client, Michelle’s Wish Foundation. As part of its quarterly commitment to support the local community through charitable giving, Zinner & Co. employees will be donating cash and non-perishable food items to the Foundation’s 2019 “Thanksgiving Baskets” Project. Donations will be used to distribute food baskets to local families in need.

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Topics: Firm news, not-for-profit, Community

Zinner & Co. Sponsors the Magic of Lights for 2019

Posted by Zinner & Co. on Nov 8, 2019, 5:57:00 AM

Zinner & Co. is pleased to continue its support and sponsorship of the Magic of LightsTM, being held at the Cuyahoga County Fairgrounds in Berea, Ohio from November 27, 2019 through January 4, 2020.

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Topics: Firm news, Community

IRS Announces New Retirement Plan Limits for 2020

Posted by Zinner & Co. Tax Team on Nov 7, 2019, 9:53:24 AM

The IRS has released the retirement contribution limits for the 2020 tax year. The new limits are adjusted based on increases in the cost of living.

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Topics: Taxes - Individual, Retirement Planning & IRAs, IRS

5 Reasons You Should Begin Planning for Tax Season NOW

Posted by Zinner & Co. Tax Team on Nov 7, 2019, 5:00:00 AM

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.

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Topics: tax services, Taxes - Corporate & Business, Taxes - Individual, income tax, tax avoidance

7 Best Practices for QuickBooks Use

Posted by Zinner & Co. on Nov 5, 2019, 5:00:00 AM

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.

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Topics: quickbooks, SMB

LONG LIVE YOUR BUDGET!

Posted by Zinner & Co. on Oct 29, 2019, 5:21:00 AM

 

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.

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Topics: expenses, start ups, budgets, cash flow

4 Things to Consider Before Gifting Your House to Your Child

Posted by Zinner & Co. on Oct 23, 2019, 5:04:21 AM

One nearly universal element of the American Dream is the desire for your children to have more and do better than you. Many parents consider the legacy they will leave for their children as a part of their financial goal.

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Topics: real estate, gift tax, Estates, Gifts & Trusts

11 Items to Include on Your “Love Letter” / "Letter of Instruction"

Posted by Zinner & Co. on Oct 22, 2019, 5:23:00 AM

An important piece of an estate plan (as well as good organization of your paperwork) is to put together a “Love Letter”, also sometimes referred to a “Letter of Instruction”. We have written about them in the past, but in case you are not familiar, a Love Letter is a document that lists important information for your heirs in the event that something should happen to you.

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Topics: Estates, Gifts & Trusts, life insurance

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