More and more third parties are looking at not-for-profit organizations’ IRS Form 990, so don’t just report; learn how you can use your 990 to tell your organization’s story.
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Board Member’s Fiduciary and Governance Responsibilities – Board Members’ Series (Part 5)
Part 5 of a 5 Part Series
Can board members be held personally liable for actions of the organization? Yes!
Agreeing to sit on a board for a nonprofit is a great way to donate your time and expertise. However, it comes with a great deal of responsibility. read more…
5 MUST HAVE Internal Control Concepts that Your Organization Should Implement Immediately
Estimates show that over 5% of all revenue is lost to fraud and theft each year. The numbers are staggering – odds are if you have not experienced it, you will.
One of the best ways to prevent fraud and theft is to implement a system of internal controls (though no system of internal control can prevent all fraud and theft). We have developed a comprehensive checklist of internal controls you should be using, but here are our top 5: read more…
7 Things to Consider Before Acquiring a Competitor
One of the fastest and most effective ways to gain momentum and market share is through the acquisition of a competitor. Acquiring a competitor has two distinct advantages – it allows you to eliminate competition; and it allows you to gain new products, customers and employees. read more…
What to do if You Received a “Failure to File” Notice from the Ohio Department of Taxation
Did you receive an Ohio Individual Income Tax Failure to File notice (ITDQ0009) from the Ohio Department of Taxation (ODT) advising you that they did not receive an Ohio Individual Income tax return?
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Updated 2018 Withholding Tables Now Available; Taxpayers Could See Paycheck Changes by February
WASHINGTON — The Internal Revenue Service released Notice 1036, which updates the income-tax withholding tables for 2018 reflecting changes made by the tax reform legislation enacted last month. This is the first in a series of steps that IRS will take to help improve the accuracy of withholding following major changes made by the new tax law.
“As advertised, most taxpayers will see a reduction of their federal withholding as a result of the recently-passed Tax Cuts and Jobs Act (TCJA). Keep in mind, though, that the full effect of the TCJA on individuals’ tax and financial situations will only begin to be known a year from now, when taxpayers begin to file their 2018 income tax returns,” said Zinner Tax Partner Howard Kass, CPA, CGMA, AEP.
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6 Common Tax Mistakes You Should Avoid
Tax season is here, once again! I anticipate that this season will be different than tax 
years of the recent past due to the Tax Cuts and Jobs Act (“TCJA”). While a lot has changed, there are a few things about tax season that never change – mistakes.
IRS Introduces New W-4 for 2020
The IRS has unveiled the new, redesigned Form W-4 for the tax year 2020. This new form eliminates many of the complex tables used in previous versions and includes many enhancements from the earlier draft version. read more…
IRS Waives Estimated Tax Penalties for 400,000 Taxpayers
The IRS has announced it will be automatically waiving penalties for over 400,000 taxpayers. The waived penalties apply to those who have already filed their 2018 taxes, but did not file a waiver seeking forgiveness for the under-payment penalty. read more…
Additional guidance issued relating to Section 199A pass-through deduction
Recently, proposed regulations were issued to provide some clarity concerning the new Section 199A deduction.
As part of the Tax Cuts and Jobs Act, which became effective as of the beginning of this year, this new deduction generally provides a 20 percent deduction for a pass-through businesses (primarily partnerships and LLCs taxed as partnerships, S Corporations, Sole Proprietorships and single member LLCs) that generate Qualified Business Income (QBI). This deduction is taken at the individual level and is allowable after one takes the greater of their itemized deductions or the standard deduction.
QBI does not include wages earned by an employee, guaranteed payments paid to a partner or reasonable compensation paid to an S Corporation shareholder.
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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.
One Big Beautiful Bill – New Individual Tax Provisions
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully. The OBBB includes numerous tax changes, including permanent and limited modification of many tax...
One Big Beautiful Bill – Business Tax Provisions
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully. The OBBB includes numerous tax changes, including permanent and limited modification of many tax...
One Big Beautiful Bill – Extended/Modified Individual Tax Provisions
On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law after the Senate and House passed the bill on July 1 and July 3, respectfully. The OBBB includes numerous tax changes, including permanent and limited modification of many tax...
Ohio Sales Tax Holiday began on Aug. 1
Ohio’s annual sales tax holiday has arrived. This year’s weekend-long temporary tax break began on Aug. 1 at midnight and will end on Aug. 14 at 11:59 p.m. Initially introduced in 2019 to provide relief for families preparing for the back-to-school season, the sales...
Brown County Sale and Use Tax to Decrease
The sales and use tax rate for Brown County (08) will decrease from 7.25 percent to 7 percent, effective Oct. 1, 2025.Please visit the Ohio Department of Taxation’s website at tax.ohio.gov or contact your Zinner and Company Tax Team member with any questions...
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