The sad reality is more than 50% of marriages end in divorce. The median duration of a marriage in the United States is 11 years. Divorce is a reality and there are some important things you need to know from a financial and tax perspective.
Board Member's Fiduciary and Governance Responsibilities - Board Members' Series (Part 5)
Audit and Assurance Department , non-profits , internal control , fundraisingPart 5 of a 5 Part Series
Can board members be held personally liable for actions of the organization? Yes!
Agreeing to sit on a board for a nonprofit is a great way to donate your time and expertise. However, it comes with a great deal of responsibility.
IRS Issues Safe Harbor for First Year Depreciation of Passenger Cars
Taxes - Corporate & Business , income tax , Tax Cuts and Jobs Act of 2017The Treasury Department and the IRS have issued guidance that provides a safe harbor for calculating depreciation deductions from passenger vehicles that qualify for the 100% additional first year depreciation deduction.
Board Member's Responsibilities with Financial Operations - Board Members' Series - (Part 4)
non-profits , non-profit reporting , management advisory , Business - Management, Issues & ConcernsPart 4 of a 5 Part Series
Not-for-profit boards have an important role in reviewing and approving the financial reports of the organization. In order to effectively evaluate the organization’s activities, plan for the future, and make decisions, financial reports are almost always on the agenda at board meetings.
First, a joke about catch up…
“Three tomatoes are walking down the street…papa tomato, mama tomato and baby tomato. Baby tomato starts lagging behind and papa tomato gets really angry, goes back and squishes him and yells… CATCH UP!!!!”
That joke isn’t going to get a lot of laughs at the IRS (alright, I admit it won’t get laughs anywhere else either) as they try to get caught up after the longest government shutdown in U.S. history. The shutdown, which lasted 35 days and affected the majority of the IRS’s workforce, has had a profound impact on an agency that had already been running very lean.
Business Operations -Board Members' Series (Part 3)
Audit and Assurance Department , audits , non-profits , Business - Management, Issues & ConcernsPart 3 of a 5 Part Series
An Organization’s management is charged with managing the day-to-day operations of the non-for-profit; however, this does not relieve Board Members from taking on certain oversight responsibilities.
IRS Establishes Safe Harbor for Real Estate Rental Businesses
real estate , Tax Cuts and Jobs Act of 2017 , Qualified Business IncomeThe IRS recently provided guidance to real estate investors regarding the Qualified Business Income (QBI) deduction under the Tax Cuts and Jobs Act (TCJA.) One of the weaknesses of the QBI provision of the TCJA was a lack of clarity in section 199A, which allows some taxpayers with pass-through businesses (e.g. LLCs and S-Corps,) to deduct 20% of their qualifying income.
Zinner & Co. is pleased to support Accelerate, an event being held by long-time Zinner client, The Cleveland Leadership Center.
Risk Assessment and Internal Controls - Board Members' Series (Part 2)
Audit and Assurance Department , non-profitsPart 2 of 5
In the current social and economic environment not-for-profit organizations face more
risks than ever before. One of the major responsibilities of the Board, as well as management, is to continuously assess the risks facing the Organization, both externally and internally.
risks than ever before. One of the major responsibilities of the Board, as well as management, is to continuously assess the risks facing the Organization, both externally and internally.Board Member Involvement and Oversight - Board Members' Series (Part 1)
Audit and Assurance Department , non-profitsPart 1 of a 5 Part Series
Do you ever wonder what challenges Board members are facing and how they are 
dealing with those challenges? Zinner and Co. plays a key role in helping organizations and their management team to overcome a wide range of obstacles. Our unique position of working with multiple entities allows us to take our experience and apply it to you and your organization.
Have Nagging Financial Questions?
