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. read more…
The Equifax Data Breach – What you need to know now
On September 7, 2017, Equifax, one of the three main credit reporting agencies, announced a massive data security breach that, according to the Wall Street Jurnal, exposed vital personal identification data — including names, addresses, birth dates, and Social Security numbers — on as many as 143 million consumers, roughly 55% of Americans age 18 and older.
This data breach was especially egregious because the company reportedly first learned of the breach on July 29 and waited roughly six weeks before making it public (hackers first gained access between mid-May and July) and three senior Equifax executives reportedly sold shares of the company worth nearly $2 million before the breach was announced.
DOWNLOAD: FREE Ebook – Income Tax Return Fraud and Identity Theft
Moreover, as CNN points out, consumers don’t choose to do business or share their data with Equifax; rather, Equifax — along with TransUnion and Experian, the other two major credit reporting agencies — unilaterally monitors the financial health of consumers and supplies that data to potential lenders without a consumer’s approval or consent.
Ask the Expert: What Does ‘Like-Kind’ Mean in a 1031 Exchange?
Q: What Does ‘Like-Kind’ Mean in a 1031 Exchange?
A: As you are 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? read more…
Zinner & Co. Supports Michelle’s Wish Foundation for Thanksgiving 2019
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. read more…
Zinner & Co. Supports Michelle’s Wish Foundation for Thanksgiving 2018
For over 6 years, Zinner & Co. has committed its support to the mission of one of our clients, Michelle’s Wish Foundation.
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11 Items to Include on Your “Love Letter” / “Letter of Instruction”
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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Do You Have Unclaimed Funds Just Waiting for You to Collect?
Money doesn’t grow on trees! If you have monies owed to you, you should try to collect. At present, there are over $2.6B in unclaimed funds that Ohio is trying to get back in the hands of its rightful owners.
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Selling a Business: Personal Goodwill vs. Business Goodwill
Selling a business is a complicated transaction. The long list of business and personal issues that need to be considered is extensive and at times, confusing. Usually at the top of the list is the tax the seller will pay when the business sells. When selling a business, properly structuring the transaction will minimize taxes owed; ordinary tax rates for corporations are 21% and capital gains tax rates range from 15% to 20%.
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Ohio House Passes Bill Reducing Taxes for Lawyers, Lobbyists & Teachers
The Ohio General Assembly unanimously passed a bill that reverses a previous tax measure, passed in July, that required lawyers and lobbyists to pay tax on the first $250,000 of income they earned.
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4 Reasons You Should be Using Surveys for Your Not-for-Profit
At one point or another, you’ve probably been asked to complete a survey after visiting a business. Many businesses even offer incentives such as discounts on future purchases or entries into drawings for prizes. These firms invest heavily to hear your feedback, but is it worth it?
Not-for-profits are different from for-profit businesses, but one of their commonalities is the need for high levels of service and ongoing engagement with clients. 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.
Krantz named 2022 Cleveland Jewish News Difference Maker
Cleveland Jewish News recently named Zinner & Co. Partner Susan Krantz, CPA, CGMA, one of 18 Difference Makers for 2022. Krantz joined Zinner & Co. in 1990 and was named a partner in 1999. She possesses over 30 years of experience in audit and...
2023 Health Savings Account Limits
The Internal Revenue Service announced in late April Health Savings Accounts (HSA) limit for 2023. Now, with taxpayers in the midst of open enrollment, the high-deductible health plans (HDHPs) will make an impact for tax planning purposes. The annual...
Things To Consider About The Employee Retention Credit
The Employee Retention Credit (ERC) was established under the CARES Act in March 2020 to provide a refundable employment tax credit to help businesses with the cost of payroll and to help keep people employed during the COVID-19 pandemic. If your business qualifies,...
IRS announces penalty relief for certain 2019 and 2020 returns
$1.2 billion in penalties will be refunded to 1.6 million taxpayers In late August, the Internal Revenue Service announced on its website that it had issued Notice 2022-36, which will provide penalty relief to most taxpayers who filed certain 2019 or 2020 tax...
Where Is My Tax Refund?
In late May, the Internal Revenue Service enhanced the Where's My Refund? tool on their website. This new feature allows taxpayers to check the status of their refunds for current tax year and two previous years.In order to check their refund status, taxpayers will...
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