Business Tax DeductionsWith the 2016 filing extension behind us, now is the time to start prepping your 2017 taxes files. Here are a couple items you can prepare for now:

  • Name Changes: Taxpayers that had legal name changes in 2017 should make sure they report their new names to the Social Security Administration. You also need to update name changes for any dependents. If your legal names differs than the SSA has on file, tax delays can emerge.
  • Individual Taxpayer Identification Number (ITIN) Renewal: If you are one of the taxpayers who use an ITIN provided by the IRS for filing taxes, be sure to check whether yours expired in 2016. You can renew your ITIN today online.

Other details may apply, and you can find more information on the IRS website.