Results

We work with you on a personal level to determine the best solutions for your unique needs, then leverage our seasoned expertise to achieve the best possible results.

Relationships

We are your trusted partner in success. Our firm is large enough to offer a full range of professional services at a fair price, but small enough to give you the individual attention that you deserve.

Relief

Rest assured that when a need arises, our firm is ready and capable to handle everything for you so you can focus on what matters most to you.

Meet the Founder

Abraham Itani, CPA An Experienced and Passionate Tax Professional with advanced tax knowledge in Individual, Corporate and Partnership on all levels-International, Federal, State and Local.

EDUCATION

• SUNY at Albany Bachelor of Science (currently known as Excelsior)
• Certificate in Taxation at UCLA Extension Program
• New Jersey Board of Accountancy CPA
• Colorado Board of Accountancy CPA (inactive)
• Member of AICPA and NJCPA

WORK EXPERIENCE

Itani Accounting and Tax Services Little Falls, NJ 6/09 – Present

• Owner of Itani Accounting and Tax Services, LLC, conducted audits of privately held corporations, not for profit organizations. Single Audits and Yellow Book Audits.
• Prepared tax returns for individuals, including high net worth individuals, corporations, partnerships, not for profit organizations, gift tax and estate tax returns.
• Working experience with, but not limited to, federal forms 1040, 1042, 990 1065, K1, 1120, 1120S, 5471, 1116, 1118, FBAR, 3520, 3520A, 5472, 8832, 8858, 8938 and 926.
• Prepared Expat filling for the 2009 and 2011 Offshore Voluntary Disclosure Initiative and Streamline Domestic and Offshore filing.
• Prepared Sales and Use tax returns on a monthly and quarterly basis for NJ and NY clients.
• Prepared corporate tax returns for local and out of state entities, apportioned income and allocated sales.
• Performing audit services for corporations and not for profit organizations.
• Prepared 1040 for expatriates including form 2555. Also, prepared 1040 NR for nonresidents, dual citizens, and foreign trusts.
• Used Pro Series, Drake, ATX, Quick Books, and Peach Tree for all accounting and Tax Software. Ernst & Young Tax Manager, Human Capital (Seasonal) New York, NY 01/12-10/12  Reviewed and signed personal income tax returns of expatriates and inpatriate high net worth individuals.
• Verified 1116 calculations and credit available per category.
• Confirmed sourcing of income based on type and number of days.
• Communicated with clients regarding certain reporting items like FBAR and FATCA.
• Reviewed FBAR and FATCA fillings and addressed client’s questions regarding these reports.
• Ensured that the form 8938 reports are in compliance with FATCA by analyzing each client’s situation.
• Supervise the preparation of the PFIC filing and proper election made.
• Communicated with clients on tax return results, and with employers regarding tax reconciliation.
• Verified deferred stock option compensation and its inclusion in W-2.

Ernst & Young, Tax Manager, Human Capital (Seasonal) New York, NY 1/12 – 10/12

• Reviewed and signed personal income tax returns for expatriates and inpatriate high net worth individuals.
• Verified 1116 calculations and credit available per category.
• Confirmed sourcing of income based on type and number of days.
• Communicated with clients regarding certain reporting items like FBAR and FATCA.
• Reviewed FBAR and FATCA fillings and addressed client’s questions regarding these reports.
• Ensured that the form 8938 reports are in compliance with FATCA by analyzing each client’s situation.
• Supervise the preparation of the PFIC filing and proper election made.
• Communicated with clients on tax return results, and with employers regarding tax reconciliation.
• Verified deferred stock option compensation and its inclusion in W-2.

MNP – Meyers Norris Penny Manager, International Taxation Calgary, Alberta 12/08 – 5/09

• Reviewed and signed off, US and Canadian personal income tax returns.
• Verified the computation of foreign tax credits, Dual filing, residents, and non-residents returns.
• Checked the filling of treaty position elections, and reporting for international bank accounts.
• Reviewed US corporate returns for Corporate federal 1120, 1120F and related filing of related apportioned states.
• Planned structures for entities to conduct business across the border.
• Reviewed U.S. individual tax returns for expatriates and inpatriate (Forms 2555, 5471, 1116 and 8833).
• Finalized and e-filed extension forms 4868 and 2350.
• Consulted on year-end compensation reviews for form W-2 and 1042 purposes.
• Advised clients on hypothetical tax calculations, and cross boarder entity organization.
• Reviewed compensation summaries prepared by seniors and staff
• Supervised U.S. federal and state tax research on individual tax issues and communicating with clients. (Forms 5472, 1118 and 8833).
• Reviewed QBU pro-form, foreign exchange schedules for the P&E (Schedule H).
• Verified proper US-Canada tax treaty elections for corporate and individual taxes.

KPMG, LLP, Manager, Partner Tax Services Montvale, NJ 1/08 – 12/08

• Reviewed Complex high net worth individual tax returns for KPMG partners for both federal and state(s).
• Coordinated the preparation and final review of tax returns.
• Verified data input and validated last year’s items to current year.
• Verified additions and subtractions to Gross Income on the federal and states level.
• Adjusted the UPE deduction portion for non-resident states based on the state income derived ratio.
• Computed AMT credit, and taxable refunds from prior years. Properly documented the tax return changes in Link, Orion, and Organizer.
• Verified taxpayer proper data entry and specific credits that pertain to certain states are being applied.
• Verified carry forward credits from prior years and into coming years.
• Prepared federal form TDF 90-22.1.
• Verified accurate data connection from K-1 into an organizer, traced taxable and tax-exempt interest.
• Resolved software diagnostics errors and printed and password protected the return to Adobe.
• Imported return to ORION and instructed staff to publish return.
• Verified and traced back federal and state taxes for proper inclusion on Schedule A, and credit on respective returns.
• Corresponded with partners regarding missing financial documents.
• Traced Apportionment of partner’s share to each State and match composite return breaks down to individual partners.
• Matched K-1 data to composite return and utilized Go system tax software.
• Applied Atlas and Orion for in-house documentation.

Itani Accounting and Tax services Paterson, NJ 3/00 – 1/08

• Owner of Itani Accounting and Tax Services, LLC, conducted audits of privately held corporations, not for profit organizations. Write up for small and medium-size corporations.
• Prepared tax returns for individuals, corporations, partnerships, not for profit organizations, gift tax and estate tax returns. Managed more than 500 returns prepared and e-filed last tax year.
• Working experience with, but not limited to, federal forms 1040, 1040C, 990 1065, K-1, 1120, 1120S, 706 and 709.

Prepared Personal Property Tax returns for a major retailer, determined true value of the various tangible personal properties.

• Prepared Sales and Use tax returns on a monthly and quarterly basis for NJ and NY clients.
• Prepared corporate tax returns for local and out of state entities, apportioned income and allocated sales.
• Conducted SOX pre-audit testing.
• Prepared 1040 for expatriates including form 2555. Also, prepared 1040 NR for nonresidents and dual citizens.
• Used Drake, ATX, Quick Books, and Peach Tree for all accounting and Tax Software.

State of Florida Department of Revenue, Tax Auditor grades 2, 3 and 4 2/90 – 3/00

• Conducted Corporate Income tax and Sales and Use Tax audits of multinational and domestic corporations having nexus in the State of Florida. Audit Corporate Income Tax and Emergency Excise Tax.
• Performed the audits utilizing Florida statutes and Regulations. Verified the apportionment factor. Traced Factors to the Federal return, reconciled differences in reported return.
• Sample-tested reported sales figures, tied them to a general ledger.
• Started and completed audit files in timely and professional manner. Conduct exit interviews with taxpayer’s representatives, and sat on several post audit compromise meetings.

COMMUNITY ACTIVITIES

2008-2009 Board Member of 4C’s, a large non-profit organization.
Plays golf whenever he can