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New 1099-NEC Form For Nonemployee Compensation

New 1099-NEC Form For Nonemployee Compensation

by | 23 Nov | , , , , ,

The PATH Act accelerated the due date for filing Form 1099 that includes nonemployee compensation (NEC) from February 28 to January 31 and eliminated the automatic 30-day extension for forms that include NEC. Starting with tax year 2020, taxpayers should use Form 1099-NEC to report nonemployee compensation.

IRS-Internal-Revenue-Service-Logo-2to1Form 1099-NEC replaces the use of box 7 on Form 1099-MISC from previous years. Other uses of 1099-MISC have not changed and will continue to be used for common payments such as rent and payments to an attorney.

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Zinner & Co. Sponsors the Magic of Lights for 2020

Zinner & Co. Sponsors the Magic of Lights for 2020

by | 19 Nov | ,

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 25, 2020 through January 2, 2021 between the hours of 5:30 and 10 p.m.

Magic of LightsTM is a yearly tradition for many Northeast Ohio families, who marvel at magic-logo-sponsorthousands of decorative displays and interactive holiday lights. 

The event is a dazzling, drive-through holiday lights experience featuring favorite holiday scenes and characters of the season using the latest LED technology and digital animations.

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Distribution of $1.3 Billion in OBWC Rebates Set To Begin

Concern Over IRS Guidance on Presidential Order Deferring Payroll Tax

by | 25 Sep | , , , , , ,

On Aug. 8, President Donald Trump issued a memorandum on deferring payroll tax obligations in light of the ongoing COVID-19 Disaster, which directed the Treasury Department to suspend collection of the employee portion of Social Security taxes from Sept. 1 through the end of 2020.

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Distribution of $1.3 Billion in OBWC Rebates Set To Begin

We Are Open For Business!

by | 24 Sep |

Over the past month, many of our clients and referral sources have asked if we have re-opened our office.

The short answer is that is yes, we are open for business and available to meet with our clients. The longer answer to the question addresses many other issues including our greatest resource – our people.

When the pandemic quarantine began in mid-March, Zinner & Co. quickly pivoted to continue to address our client needs, frankly, at the busiest time of the year for our tax practice. We sent our staff home and connected everyone through secured methods to our office servers. We even found a way to keep our tax season interns on staff while many other firms discontinued all internship programs at time.

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Distribution of $1.3 Billion in OBWC Rebates Set To Begin

Paycheck Protection Program Loan Forgiveness – But at what Cost?

by | 23 Sep | , , ,

Over the past few weeks, some of our local commercial lenders have slowly begun to open their online portals to allow those businesses who received Paycheck Protection Program (PPP) Loans to file their applications to obtain forgiveness of the debt related to qualified expenses.

While the loan application process was a heated fury of business owners rushing to obtain the much needed funds so that they could continue to employ and pay their employees, retain health insurance coverage and pay their rent, the loan forgiveness process seems to be occurring at much less of an accelerated rate. Although credit should go to the Small Business Administration for issuing some guidance to the lenders who have extended these loans, not all the related questions have been answered. read more…

Atlas Cinemas Providing Safe, Family Entertainment

Atlas Cinemas Providing Safe, Family Entertainment

by | 21 Aug | , ,

When movie theaters were forced to shut down in mid-March due to safety concerns related to the coronavirus pandemic, Atlas Cinemas Vice President Gabriel Saluan made a financially difficult decision to keep his managers on payroll.

While other theater chains were laying all of their employees off, Saluan saw an opportunity to reinvest in his theaters and he needed his managers to play a key role in reopening to the public.

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President’s Memorandum on Deferring Payroll Tax Obligations

President’s Memorandum on Deferring Payroll Tax Obligations

by | 21 Aug | , ,

A.K.A. Executive Order – Payroll Tax Holiday

On Aug. 8, President Trump issued a number of Executive Orders to address the fact Congress was unable to come to an agreement to provide additional stimulus to the economy, which continues to lag during the prolonged COVID-19 pandemic.

The “Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster,” which many people refer to as the “Payroll Tax Holiday” order, was issued to provide additional economic relief to workers.

read more…

About Us

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.

Recent Blog Posts

Fundraising in a “New Age” Part 2

April 18, 2024 at 2:11 PM

 Part 2 of a 2 Part Series - Read Part 1 HereIn the first part of this blog series, we looked at some of the reasons for changes in charitable giving trends. In this part, we’ll look at how non-profits should approach fundraising. As donor behavior continues to...

Fundraising in a New Age (Part 1)

April 11, 2024 at 2:02 PM

For not-for-profit organizations, fundraising is a way of life. It is vital part of fulfilling their mission and serving their constituency. Over the past few years, fundraising has changed appreciably and non-profits have been forced to find new/better/smarter ways...

Key Things You Need to Know About Directors and Officers (D&O) Insurance

April 4, 2024 at 2:08 PM

If you’re on a Board of Directors, serve as an Officer or are on the executive team of a company or board of directors, there is a type of insurance you need to know about – Directors and Officers Insurance (known as D&O Insurance.) We usually advise our clients...

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