As busy professionals, caregivers, and the like, we tend to put off until tomorrow that which isn’t deemed critical today. One such item that we cannot afford to delay is the filing of a beneficiary designation form.
Can You Deduct Your PJs and Coffee? Getting Creative with Home Office Deductions
Are you a business owner or contractor? If your regularly work from home, you may be able to take advantage of a deduction for the business use of your personal residence. The home office deduction, however, has some specific requirements you should be aware of before claiming it on your tax return. read more…
IRS Changing Process for Applying for an EIN
As the responsible party on employer identification number (EIN) applications, effective May 13, 2019, the IRS will only accept EIN applications from individual taxpayers who have either a Social Security number or individual taxpayer identification number.
IRS Offers Relief for Underpayment and Under-Withholding Penalties for More Taxpayers
On Friday, March 22, 2019, the Treasury and IRS announced they have lowered the withholding underpayment penalty threshold to 80%. This means that taxpayers who were 80% or less under-withheld on their income tax withholding or quarterly tax payments may qualify for relief.
Zinner & Co. Goes Purple!
In honor of Purple Day, the partners and staff of Zinner & Co. donned their purple gear to help raise awareness of epilepsy.
An Unfair Tax – What Can You Do to Help?
On April 15th, tens of thousands of not-for-profit organizations will have tax bills come due. “How can that be?” you ask, “I thought most non-profits have tax exempt status.” Well, effective with the 2018 tax season, you’re wrong.
read more…
Ask the Expert: Tax Myths BUSTED!
Ask the Expert: Should I Take the Educational Tax Breaks or My Child?
Should I Take the Educational Tax Breaks or My Child?
read more…
Can You Mix Business and Pleasure When you Travel?
With summer vacation season almost upon us, people’s thoughts often turn to travel, and we thought it would be a good time to review the rules for deducting the costs of a business trip where you also take a vacation (“mixing business with pleasure”). These costs may be deductible, but are also subject to limitations. We will discuss these limitations below.
read more…
65 Days…The little-known tax provision that could help you save
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.
Ohio Income and School Tax Deadlines Moved to May 17
S.B. 18 will Conform Ohio with Federal Tax Law Changes Ohio Tax Commissioner Jeff McClain recently announced Ohio is following the federal government and Internal Revenue Service in extending the deadline to file and pay Ohio individual income and school district...
Senate Votes to Extend PPP Through May 31
On Thursday, the Senate voted to extend the Paycheck Protection Program for two months.A week before the Small Business Administration’s PPP was slated to expire, senators voted 92 to 7 to pass the PPP Extension Act of 2021. Not only does the legislation extend the...
IRS Announces New Retirement Plan Limits for 2021
The IRS has released the retirement contribution limits for the 2021 tax year. The new limits are adjusted based on increases in the cost of living. 2021 2020 401(k), 403(b), 457(b) deferral limits $19,500 $19,500 401(k), 403(b) catch-up deferral limits...
Tax Filing and Payment Deadline Pushed Back to May 17
The Treasury Department and Internal Revenue Service announced the federal income tax filing due date for individuals for the 2020 tax year has been pushed to May 17. The IRS will be providing formal guidance in the coming days. However, individual taxpayers do not...
AICPA asks Congress for PPP and tax filing deadline extensions
The American Institute of Certified Public Accountants recently asked Congress to extend the Paycheck Protection Program’s March 31 application deadline at least 60 days. Additionally, the AICPA also asked the IRS and the Department of the Treasury to extend the April...
Send us your questions and we’ll share our insights with you on our blog!