Annual Tax Planning

It is about time for the annual tax planning exercise. Make an appointment with your tax planner before the year end and discuss your options for saving on tax liability for the year 2016. To learn more, visit our site at


IRS Now Accepting ITIN Renewal Applications; Taxpayers Encouraged to Act Soon to Avoid Processing Delays in 2017.

If you have an ITIN issued by the IRS with xxx-78-xxxx and xxx-79-xxxx in the middle, you will have to renew your ITIN in order to file next year tax return. Contact us for ore information for this requirement.


Looking for Work May Impact Your Taxes

If you are looking for a job in the same line of work, you may be able to deduct some of your job search costs. Here are some key tax facts you should know about when searching for a new job:
  • Same Occupation.  Your expenses must be for a job search in your current line of work. You can’t deduct expenses for a job search in a new occupation.
  • Résumé Costs.  You can deduct the cost of preparing and mailing your résumé.
  • Travel Expenses.  If you travel to look for a new job, you may be… Continue reading

IRS Requires ITIN Renewal

The IRS announced on August 4, 2016 that the PATH Act enacted by Congress in December 2015, requires that some taxpayers renew their ITINs beginning in October 2016.

Two Groups of ITIN Holders Who May Need to Renew an ITIN

NOTE: Only ITIN holders who need to file a tax return need to renew their ITINs. Others do not need to take any action.

Group 1: Unused ITINs ITINs that have not been used on a federal tax return at least once in the last three years (covering 2013, 2014, 2015) will no longer be valid for use on a… Continue reading

Affordable Health Care Update

If you have at least 50 full-time employees, including full-time equivalent employees, on average during the prior year, your organization is an ALE. Here’s the exception: If your workforce exceeds 50 full-time employees for 120 days or fewer during a calendar year, and the employees in excess of 50 during that period were seasonal workers, your organization is not considered an ALE. For this purpose, a seasonal worker is an employee who performs labor or services on a seasonal basis.