Zinner & Co. Blog and Newsroom

Ohio BWC Defers Monthly Premium Payments For Summer 2020

Posted by Zinner & Co. Tax Team on Jun 9, 2020 2:51:44 PM

On May 28, Ohio Gov. Mike DeWine announced the Ohio Bureau of Workers’ Compensation (BWC) will defer Ohio employers' premium installments this summer.

DeWine’s announcement was to help businesses focus on the well-being and safety of their customers and employees.

Businesses will have the option to defer their monthly premium payments with no financial penalties in the months of June, July, and August.

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Topics: Bureau of Worker's Compensation, Coronavirus, COVID-19, Mike DeWine

Some Front Line Workers Have Concerns Over PPP Rather Than PPE

Posted by Robin Baum, CPA, Managing Partner on May 22, 2020 3:34:32 PM

Having been a CPA for over 30 years, I can honestly say that the last three months of my career have been some of the most challenging, but also some of the most rewarding. 

The coronavirus pandemic has changed the way that all of us work and also how we see the world.  For many years, I cherished the role of being my clients “most trusted advisor.” This meant I provided financial counsel related to income and estate tax matters and assisted in management consulting projects to help business owners maximize their profits. While all of these types of engagements brought value to the business owner, little did I know 2020 would transform my role to becoming a “front line” worker.

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Topics: Robin Baum, Zinner & Co., Coronavirus, COVID-19, The CARES Act, Paycheck Protection Program, first responders

Zinner & Co. Clients Share Their Silver Linings

Posted by Zinner & Co. on May 12, 2020 5:23:04 PM

Since April, Zinner & Co. staff members have worked hard to maintain regular communication with their clients during the COVID-19 pandemic.

During some of our conversations, we have heard many uplifting stories of how our clients are making the most of the “Stay at Home” order. Here are few stories we wanted to bring to your attention:

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Topics: Zinner News, Zinner & Co., Coronavirus, COVID-19, Stay at Home Order, Silver Linings

Zinner & Co. Staff Continues to Work Remotely to Meet Your Needs

Posted by Zinner & Co. on May 12, 2020 4:52:00 PM

During the current “Stay at Home” issued by Ohio Gov. Mike DeWine, Zinner & Co. staff are working remotely to meet the needs of all of our clients.

Thanks to the efforts of all Ohioans, in April we have successfully “flattened the curve” and avoided overwhelming our hospitals with COVID-19 cases.

By practicing social distancing during this challenging time, you have helped to make a difference and save lives.

In late April, Gov. DeWine announced the Responsible Restart Ohio Program, which allowed healthcare institutions including hospitals, clinics, dental offices and veterinarians to begin outpatient procedures and treatments for other life threatening conditions on May 1.

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Topics: Zinner News, Zinner & Co., Coronavirus, COVID-19

Zinner & Co. Staff Members Share Silver Linings

Posted by Zinner & Co. on May 11, 2020 7:45:00 AM

Since April, Zinner & Co. staff members have held weekly Zoom meetings.

As part of the discussion, staff members talked about the “silver linings” that they have found during the COVID-19 pandemic.

Here are a few of the notable positive actions and thoughts to come out of these discussions:

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Topics: Zinner News, Zinner & Co., Coronavirus, COVID-19, Stay at Home Order, Silver Linings

Zinner & Co. Interns Succeeded During Challenging Tax Season

Posted by Zinner & Co. Tax Team on May 8, 2020 4:37:00 PM

For three Zinnner & Co. interns, their internships were ones they will likely never forget, as they had to overcome a challenging tax season.

When their internships began, Allen Li (Case Western Reserve University), Kyoko Tosi (Kent State University) and Brett Carney (CWRU) likely thought they were in for a normal tax season.

“We learned how to prepare individual tax returns and to issue the 1099 tax forms,” said Tosi. “We were provided with weeks of training, practice period and real work with senior's reviews.”

The work kept them busy as they began an in-depth journey into the world of accounting.

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Topics: Zinner & Co., Tax Interns, Coronavirus, COVID-19

Tax Planning for the Paycheck Protection Program

Posted by Zinner & Co. Tax Team on May 7, 2020 12:28:00 PM

During the COVID-19 pandemic, the need to plan for taxes has become even more important due to all the changes from recently passed coronavirus relief legislation and especially for those businesses seeking forgivable loans through the Paycheck Protection Program (PPP).

While the PPP legislation was designed to help businesses weather the economic storm that many “Stay at Home" orders have created by providing funding to continue to employ workers and, the ramifications of not fully understanding the restrictions for use of these funds could ultimately cause further challenge for business owners.

Business owners and non-profits are strongly urged to reach out to their Zinner & Co. Client Service Team and should feel comfortable accessing information provided by our team of Recovery Specialists, not only in the Paycheck Protection Program (PPP) application process, but also in the proper documentation and accounting for loan proceeds.  

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Topics: Zinner & Co., Coronavirus, COVID-19, Deferring Tax Payments, Small Business, Economic Injury Disaster Loan, Federal Assistance, U.S. Small Business Administration, SBA, Layoffs, Layoff, Families First Coronavirus Response Act, Employee Leave, The CARES Act, Unemployment Benefits, Tax Credit, Economic Impact Payments, Paycheck Protection Program, Loans

Gov. DeWine, BWC Propose $1.6 billion Dividend to Ohio Employers

Posted by Zinner & Co. Tax Team on Apr 9, 2020 1:00:33 PM

Move made to ease COVID-19 financial impact

Ohio Gov. Mike DeWine and Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Stephanie McCloud today proposed giving up to $1.6 billion to Ohio employers this spring to ease the economic impact of the coronavirus pandemic on Ohio’s economy and business community.

"This is great news for Ohio’s businesses, and will assist in relieving some of the financial pressures many are experiencing,” said DeWine. “Administrator McCloud and I both encourage businesses to reinvest this money in the health and safety of their employees.” 

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Topics: Bureau of Worker's Compensation, ohio, Coronavirus, COVID-19

City of Cleveland Emergency Working Capital Program

Posted by Zinner & Co. Tax Team on Apr 8, 2020 4:30:00 PM

The City of Cleveland wants to help businesses in the city, who were impacted by COVID-19. 

Until Jan. 1, 2021, the City of Cleveland is offering loans of up to $10,000 with 0 percent interest.  Loan payments of $150 per month would begin on Jan. 1, 2021. 

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Topics: Coronavirus, COVID-19, Small Business, Emergency Working Capital Program, City of Cleveland, Loans

Documents for SBA Paycheck Protection Program Application Process

Posted by Zinner & Co. Tax Team on Apr 8, 2020 10:33:00 AM

The American Institute of CPAs has recommended a defined set of documents for lenders regarding the Small Business Administration’s Paycheck Protection Program (PPP) application process.

According to the Maryland Association of Certified Public Accountants, Inc., the recommendations were informed by discussions with an AICPA-led small business funding coalition and other stakeholders in the PPP process with ties to 44,000 CPA firms, 2.5 million small businesses, and 30 million employees.

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Topics: Coronavirus, COVID-19, Small Business, SBA, Paycheck Protection Program

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