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.

Source: www.irs.gov

Off Tax Season Office Hours

This office will remain open for the entire year with short office hours. We specialize in Accounting and Payroll services for small businesses.

New Office Hours:

Monday to Friday: 12Noon to 5:00PM

Sat & Sun Closed

For Appointments call 732-319-0923

Management

Count Down to the Last Tax Day

Gather up you tax related documents and see your tax advisor before April 18 the last tax day.

Make sure you take advantage of contribution to the Traditional IRS to save on tax liability.

To learn more about tax saving tips, call 732-319-0923