Blog & Newsroom

Should I Take the Educational Tax Breaks or My Child?

Every year, a group of adventurous souls decides: This is the year I’m going to prepare my own tax return! While we certainly applaud an individual’s right to establish self-reliance and try to save money on preparation fees, it’s rarely a good idea.

Who should take the educational tax breaks, me or my child?

That’s a great question! The answer is: It depends.

Depending on whether your organization is on a calendar or fiscal year, you may have just gone through a year-end close, or you’re looking forward to one (using the phrase “looking forward to” very loosely.) Do you find the year-end closing process to be an arduous ordeal or a series of sure, predictable events? What if I told you could make year-end closings faster and easier?

If you’ve been paying attention to the news over the last month several high profile companies were hacked and individuals’ personal information was compromised. The sites included health insurance providers, job searching sites, restaurant chains, a fitness and diet tracking website and even online photo storage sites. The numbers of people potentially involved in these breaches are staggering.

Zinner & Co. is pleased and proud to support our long-time clients and friends at The United Way of Greater Cleveland for 2019.

Are 2018 Income Taxes Easier to Prepare Under the Tax Cuts and Jobs Act?

Like any good consultant, my answer is: It depends.

You check your mail and you see the return address, IRS. Your first thought? Well, that can’t be good. You open up the letter and you read that you’re being audited. Look on the bright side – less than 1% of returns get audited each year, you’re just one of the lucky ones! All jocularity aside, there’s nothing to panic about.

The IRS recently issued a warning to taxpayers who are seriously delinquent on their tax debt - you may be unable to attain a new passport or renew your existing one.