Zinner & Co. Blog and Newsroom

Ohio Initiates New Registration Process for New Pass-Through Entities

Posted by Zinner & Co. Tax Team on Aug 9, 2019 5:02:00 AM

The Ohio Department of Taxation announced they have begun a new process for registering new pass-through entities (PTE.) In the past, the department’s old computer system registered and created accounts for new PTEs upon the filing of their first return. One challenge with this process was that many PTEs made estimated payments prior to filing their first return.

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Topics: Ohio business owners, income tax, SALT, start ups

Ohio House and Senate Reach Resolution on BID

Posted by Zinner & Co. Tax Team on Jul 18, 2019 12:18:19 PM

The Ohio House and Senate passed two different - and conflicting - budget bills prior to the June 30th deadline. A major point of contention between the bills was the treatment of Ohio’s Business Income Deduction (BID).

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Topics: Ohio business owners, income tax, SALT

10 Tips to Avoid Business Owner Burnout

Posted by Zinner & Co. on Jul 2, 2019 7:18:00 AM

If you are burning the candle at both ends, sooner or later it’s going to catch up with you. That’s reality. No matter how passionate you are about your business, no matter your level of drive to succeed, if you push too hard for too long you will experience burnout.

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Topics: Ohio business owners, Business - Management, Issues & Concerns, start ups

Ohio Bureau of Workers’ Compensation Proposes $1.5B Rebate for Ohio Employers

Posted by Zinner & Co. Tax Team on May 21, 2019 12:18:38 PM

The Bureau of Workers’ Compensation (BWC) has announced a proposal to provide Ohio employers with a $1.5B rebate.  This rebate comes as the result of stronger than expected returns on investments.

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Topics: Bureau of Worker's Compensation, Ohio business owners, Taxes - Corporate & Business

Ohio Bureau of Workers’ Compensation Slashes Rates

Posted by Zinner & Co. Tax Team on Feb 25, 2019 1:35:16 PM

The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has announced they have approved a 20% cut in premiums for private employers. The cut was proposed by BWC’s Director and CEO.

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Topics: Bureau of Worker's Compensation, Ohio business owners

Ohio BWC Recommends 20% Reduction in Rates

Posted by Zinner & Co. Tax Team on Feb 4, 2019 8:12:04 AM

The Ohio Bureau of Workers' Compensation (BWC) has proposed a 20% reduction in the average premium rate charged to private employers.

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Topics: Bureau of Worker's Compensation, Ohio business owners, Insurance

Deadline nears for Workers’ Compensation true-up

Posted by Zinner & Co. Tax Team on Jul 25, 2018 4:19:00 PM

The deadline is approaching for private employers to “true-up” with the Ohio Bureau of Workers’ Compensation (BWC).

A press release posted on the Ohio BWC website reminds employers they have until Aug. 15 to complete an important action necessary for the BWC to accurately calculate premiums.

iStock-936143492_blogAccording to the press release, prior to each policy year (July 1- June 30), employers' payroll amount, the basis for their premium, is estimated based on historical data. When the policy year-ends, employers are required to true-up, which means they must report the actual payroll for the policy year that ended on June 30 and reconcile any difference in premium paid.

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Topics: Bureau of Worker's Compensation, payroll, Ohio business owners, Brett W. Neate, Business - Management, Issues & Concerns

Zinner & Co. Quickbooks Support Policy: What you need to know

Posted by Zinner & Co. on Dec 27, 2017 9:00:00 AM

Effective June 1st 2018 Zinner & Co. will officially adopt Intuit’s Quickbooks Discontinuation policy. If you are using Quickbooks version 2015 or older, you will need to upgrade to maintain compliance. This policy will maintain support for the three most recent versions of Intuit Quickbooks. The annual drop date for the oldest product version is May 31st. Intuit’s current “Disco” policy states:

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Topics: quickbooks, Ohio business owners, Business - Management, Issues & Concerns, Zinner News

Ohio Manufacturer? Sales tax savings that help your business grow

Posted by Brett W. Neate, CPA, MTax on Dec 12, 2017 9:39:17 AM

Like everything in life, the manufacturing process has a beginning and an end. Understanding that process is important for making business decisions regarding raw materials, staffing, inventory, fixed assets, and innovation. 

This knowledge is also used by well-advised businesses to reduce tax expense in Ohio and many other states that have designed their sales tax structure to promote manufacturing.

Read more from Brett Neate here

Ohio does not require sales or use tax to be paid on the purchase or consumption of items used primarily in the manufacturing operation to produce personal property for sale. One of the challenges in maximizing the benefit of this exemption is understanding, for sales tax purposes, when the production process begins and ends.

Production begins when raw materials are committed to the process and ends when the product is in its final state or form. While these definitions seem straightforward, they tend to incredibly nuanced depending on the product being created and the specific process being utilized by the manufacturer.

An additional challenge in properly applying the exemption is when assets or materials are used in both manufacturing and non-manufacturing processes. For example, forklifts are often used to move raw materials, production items, and finished goods. The cost to purchase, maintain, and power the forklifts may or may not be subject to sales tax depending on whether or not they are used primarily in the production process.

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Topics: Ohio business owners, Brett W. Neate, manufacturing

Electronic Delivery of Invoices to Begin January, 2018

Posted by Zinner & Co. on Nov 25, 2017 8:46:00 AM

Fall 2017 | Winter 2018

Zinner & Co. is ready to ring in the New Year with a commitment to sustainability, focus on our environment, and assurance that our clients receive year-round service.  As part of this initiative, beginning in January 2018, business client invoices will be delivered via electronic mail. To ensure timely and effective receipt of your invoice, please take a moment to update your company information by downloading the form here and adding your billing department information if it is different than your primary company contact. (Please let us know if you prefer to continue to receive your invoice via USPS). You can return the form to us at ClientUpdate@zinnerco.com or via US mail:

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Topics: Ohio business owners, Business - Management, Issues & Concerns, Zinner News

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