Zinner & Co. Blog and Newsroom

House Bill 168 and Ohio’s State Unemployment Tax Savings

Posted by Zinner & Co. Tax Team on Jul 30, 2021 9:29:55 AM

As small business owners complete the second quarter 2021 filing of their state unemployment tax payments with the Ohio Department of Job and Family Services, they should be aware that tax saving benefits have been preserved for the coming years.

On June 29, Gov. Mike DeWine signed House Bill 168, which appropriates $2.2 billion of the $2.7 billion that Ohio is slated to receive this year under the federally funded American Rescue Plan.

Read More

Topics: Ohio business owners, Taxes - Corporate & Business, Unemployment Benefits, Ohio Department of Jobs and Family Services

Reporting of Other Government Payments

Posted by Zinner & Co. Tax Team on Jan 21, 2021 11:48:12 AM

Many businesses who received Ohio Bureau of Worker Compensation rebate or dividend checks during 2020 recently received a letter from the Ohio Bureau of Workers Compensation requesting that they provide the BWC a completed Form W-9 to provide the information needed to complete the IRS tax statement Form 1099-G, which reports taxable Government Payments. This action also indicates that these rebate payments could potentially be subject to both Ohio state income tax and Commercial Activity Tax.

Read More

Topics: Bureau of Worker's Compensation, income tax, ohio, Department of Job and Family Services, Unemployment Benefits

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.  

Read More

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

The CARES Act

Posted by Zinner & Co. Tax Team on Mar 27, 2020 12:53:05 PM

The CARES Act will provide billions of dollars of relief to individuals, businesses, state and local governments, and the health care system.

After extensive negotiations, an agreement was reached on a massive stimulus bill to address the financial and health care crisis resulting from the coronavirus (COVID-19) pandemic.

Read More

Topics: Retirement Planning & IRAs, Coronavirus, COVID-19, The CARES Act, Unemployment Benefits, Tax Credit

CATEGORIES

Latest Posts

Learn why Zinner & Co. loves Cleveland

Subscribe to Our Blog