Blog & Newsroom

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).

Q: As a sitting board member of an organization, can I be personally liable for the actions of the entity? 

In a word, yes.

As a member of the board of directors, you assume certain fiduciary responsibilities.

One of the challenges when providing for loved ones with special needs is to do so in a way that they do not lose their eligibility for governmental assistance such Supplemental Security Income (SSI) or Medicaid. Recipients can lose eligibility for these programs if their assets exceed a certain level. One of the ways around this is to create a trust.

The IRS announced that the Modernized e-File (MeF) will be unavailable for brief periods during July and August during scheduled system upgrades. The outages will occur as follows:

You’ve put your blood, sweat and tears into creating and building a business, but at some point it will be time to think about how to sell it and move onto the next phase of your life. A key consideration for what the “next phase of life” looks like is often dependent upon how much your business is worth.

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.

Ohio's state constitution requires that the state's biennial budget be approved by June 30. That deadline has come and gone and Ohio's Legislature has not yet passed a budget. The house and senate both approved a measure that extends state funding at current levels for 17 days while lawmakers try to compromise on the 3,000+-page budget bill.

Zinner & Co. played host to a benefit fundraiser for the College Now Greater Cleveland’s “Bag Lady” event scheduled for Thursday, September 12, 2019 at the Great Lakes Science Center.

Ask the Expert: I recently moved. I set up mail forwarding with the U.S. Postal Service, is there anything else I need to do?

Setting up mail forwarding is a great start, but there are a couple more steps you should take:

National Taxpayer Advocate (NAS) Nina Olson, who is scheduled to retire on July 31^st, 2019, addressed Congress for the 37^th and presumably last time in her role. Olson, who has held the role of NAS for 18 years, addressed Congress to review the 2019 tax season and the state of the IRS.