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As we approach the end of 2021, it is important to take a closer look at your tax and financial plans. This year likely brought challenges and disruptions that significantly impacted your personal and financial situation including the continued global pandemic, remote and new hybrid work models, supply chain disruptions and rising inflation.

Now is the time to take a closer look at your current tax strategies to make sure they are still meaningful in today’s world and to take any last-minute steps that could save you tax dollars. While looming tax law changes have not been finalized, many tax planning opportunities still exist! Here are some issues to consider as we approach year-end.

Zinner & Co. is proud to announce the launch of our new website.

Launched on Nov. 9, the new site provides visitors with important information about our firm, along with the services we offer and the specific industries we serve. Do not worry – we still offer comprehensive accounting, audit, tax, and management consulting services – but with a better website!

As the end of the year approaches, now is a great time for businesses to get a jump start on year-end payroll processing.

Even if you use an outsourced payroll provider, there are some things that you can do to make the year-end processing more efficient.

Zinner & Co. urges our clients who use Intuit QuickBooks Desktop for Windows to upgrade their one-time purchase license before Dec. 10.

The State of Ohio Department of Job and Family Services recently announced a new unemployment insurance tax system will go live in December.

The State of Ohio Unemployment Resource for Claimants and Employers, otherwise known as the SOURCE, will provide users with a friendly, self-service experience, tailored to meet the needs of both claimants and employers.

The Small Business Administration recently announced changes to its COVID-19 Economic Injury Disaster Loan program.

Over the past decade, more people have moved to electronic payments of their monthly bills and expenses.

The days of sitting down and writing checks to pay bills has quickly become a thing of the past. In fact, for many people under the age of 30, they do not know, nor have they ever had a physical checkbook!

Available for the 2020 – 2021 Tax Years

One of the most beneficial and underutilized tax credits introduced as a result of the COVID-19 pandemic relief funds is the Employee Retention Credit (ERC).

To date, our clients have filed and claimed ERC refunds exceeding $2,000,000 under this program. Claims for these refunds are included in the filing of original or amended Federal quarterly payroll tax returns.

Men and women who retired as members of the Ohio Public Employees Retirement System, commonly called OPERS, need to be aware of a change that may affect their healthcare coverage.

OPERS retirees who are not of Medicare age will need to opt in during an upcoming open enrollment period in order to receive monthly payments to purchase health coverage. This is required, as the current OPERS group healthcare plan will be terminated at the end of the year.

Not-for-profit organizations, just like other business entities, had significant changes thrust upon them due to the pandemic, and in response, had to make changes to their programming activities, staffing and budgets, among other things.

There are a number of things these organizations learned, as well as short-term and long-term decisions they had to make. They are navigating through the various government funding programs to ensure they are bringing the necessary funds to their organization so they can support people in need. Additionally, they are working with the people they serve to help them determine funds directly available to them, so they do not risk missing out on any well-needed payments.