Posted by Mary Ann Mezacapa
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QuickBooks Service Discontinuation Policy and Upgrade Information
Something’s Simmering…
Posted by: Laura Haines
read more…Do you have a Partnership?
Posted by: Robert O’Neil, CPA
read more…Tax Strategies for College Students of Higher Income Taxpayers
Posted by: Michael Hermes, Tax Senior
read more…Zinner & Co. Attends TIAG International Conference in Scotland
Zinner & Co. Partner Howard Kass and Senior Tax Manager Brett Neate recently attended TIAG’s 24th international conference in Edinburgh, Scotland. The conference, which took place on May 4-6, 2015, provided TIAG® members with the opportunity to strengthen the relationships they create within the alliance of more than 115 accounting firms from around the world. Also in attendance at the conference were members of TIAG’s affiliate alliances, TAGLaw® and TAG-SP™. All three alliances are collectively known as the TAG Alliances™.
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5 Steps to Get Through the Workers Compensation Billing Changes
Gary Sigman, CPA, M. Tax, PFS, AEP®
ATS Manager
Not the “Gift” Development Officers Seek: The change that will affect all non-profit reporting
By Carl Blankschaen, CPA
Audit and Assurance Senior
If you are one of the countless professionals serving a non-profit institution, you have no doubt heard the buzz surrounding financial reporting and how all non-profit organizations will now have to make an adjustment in the way in which they report.
The Financial Accounting Standards Board (FASB) recently issued their exposure draft on Presentation of Financial Statements for Not-for-Profit Entities. This exposure draft will make drastic changes to the financial statements of all Non-Profit organizations, and will consequently require changes in the recording of accounting information throughout the year in order to prepare the financial statements at the end of the year. What does all this industry talk mean for your non-profit?
Zinner & Co. Announces Promotions
Robin L. Baum, CPA, Managing Partner, announced the promotions and appointments of seven of its staff:
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Worker Classification: Avoiding a Costly Oversight
I recently had a discussion with a new client about their Executive Director’s worker status. I was surprised to learn that the organization wanted to classify him as an independent contractor instead of an employee. Because a position such as the Executive Director would fall into the IRS categories for employees instead of independent contractor,
I explained to them that there would be potential fines and penalties assessed for this classification. They could not believe they would be charged payroll taxes on his salary, as well as additional penalties. Because re-classifying him would save the organization thousands of dollars in potential taxes, fines, and penalties, I wanted to offer some guidance so that other organizations can avoid these worker classification pitfalls as well.
The IRS is always coming up with creative ways to generate revenue. One of their favorite methods is to look at organizations to see if they are improperly classifying workers as employees. To make sure your workers are all properly classified (and more importantly to avoid the tax consequences of misclassification), it is important to know the difference between an employee and an independent contractor.
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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.
Ohio BWC Launching New Collection Model
Ohio’s Bureau of Workers’ Compensation (BWC) is transitioning to a modernized billing system and a new, more flexible payment schedule. The transition should save private employers 2% and public employers 4%.The most significant impact on Ohio employers is the...
Tax Savings Still Available for “Heavy” Trucks and Vans
As the tax year comes to an end, business owners are looking for additional ways to decrease their tax liability. Fortunately for those companies that use trucks and vans, there are still generous depreciation rules that are available for newly purchased “heavy”...
Confused About Form 1099-K? You Are Not Alone.
Form 1099-K, which deals with merchant payment card reporting, has provoked many questions since its inception last year. Luckily, the IRS now has a landing page designated as a Third Party Reporting Information Center on its website. Here you’ll find links to...
Electronic Partnership Forms Okayed By IRS
Nearly 26 million K-1 tax forms were filed by partnerships last year alone, and there is no telling the cost associated to printing and mailing those forms to each partner. The IRS has now issued a new rule that not only cuts these expenses, but also makes it simpler...
IRS Relieves Retailer Headache
Another victory claimed by small-business representatives recently, as the IRS told the National Federation of Independent Business it would not require retailers and others to explain how and why their business income differs from their credit-card receipts, which...
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