March 2022 Newsletter
This month's newsletter comes to you as we near the end of tax season! See what's happening in the office and read this month's tax tips and news below!
Inside Tzinberg & Associates
HAPPY BIRTHDAY KRISTINE!
Kristine Overacker has been with Tzinberg & Associates since 2019. She is the Payroll Supervisor; her primary focus is preparing client payrolls and payroll-related tax returns. Kristine also prepares the monthly newsletter, assists in the creation of marketing-related materials, and handles new client acquisition and onboarding. When she is not at work Kristine enjoys spending time outdoors with her family and pets. During the summer you can find Kristine paddle boarding through Florida's many waterways, horseback riding or camping in many of the State Parks, or just soaking up the sun enjoying cocktails with friends at a cozy waterfront bistro.
The IRS Backlog Continues...
The IRS intends to use an expedited hiring process to hire about 10,000 workers for processing tax returns and managing taxpayers' accounts, according to a union that represents employees in the Service and other federal agencies. How will this affect your return?
Hobby or For-Profit Activity?
The Answer Makes a BIG Difference for Tax Purposes
If you are engaged in an activity that produces income, the big tax question is whether the activity is a hobby or a business. The tax treatment of your income or loss from this endeavor hinges on the answer. Read More
Gambling
and Tax Traps
Although gambling may seem to be a recreational activity for many it is not for THE government. There are far more tax issues related to gambling than one might expect, and they may impact taxes in more ways than one might believe.
Auto Depreciation Limits Leap with Inflation
The IRS issued sharply higher new depreciation limitations Wednesday for passenger automobiles, reflecting inflation of vehicle prices in the past year. These limits are updated annually for inflation according to the automobile component of the chained consumer price index for urban consumers. Read More →
VIDEO TIP
Don't Miss Out on Lucrative Tax Benefits
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I am very happy we chose Tzinberg and Associates to do our taxes, both personal and business, plus our company's payroll. They are informative, quick, reliable, professional, and ready to help with any questions or concerns I have. I highly recommend the services that they provide. Dana Waier, Mad Auto Wrecking

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1 Country Club Executive Park
Glen Carbon, IL 62034