Articles

NJ EQUAL PAY ACT – RECOMMENDED ACTIONS

On April 24, 2018, New Jersey Governor Phil Murphy, who made “equal pay for equal work” a signature campaign promise, signed into law the Diane B. Allen Equal Pay Act ( the “Equal Pay Act”). The Equal Pay Act greatly expands the New Jersey Law Against Discrimination (NJLAD) by requiring equal pay for all employees Read More…

GOV. MURPHY SIGNS EXPANSIVE PAID SICK LEAVE LEGISLATION

New Jersey has now become the tenth state to enact a statewide mandatory paid-sick-leave law. The New Jersey Paid Sick Leave Act (A1827) was signed into law on May 2, 2018 by Gov. Phil Murphy and will go into effect on Oct. 29, 2018 . Once effective, it allows workers to accrue one hour of Read More…

THE TAX CUTS & JOBS ACT: THE SENATE PASSES TAX REFORM. WHAT HAPPENS NOW?

In the early morning hours of Saturday, December 2nd, the U.S. Senate passed its version of the Tax Cuts and Jobs Act by a vote of 51-49.   It was passed with no Democratic support and one opposing Republican vote. While the bill still differs from the House bill on several key issues, amendments to the Read More…

THE TAX CUTS & JOBS ACT: HOUSE BILL vs. SENATE BILL

On Thursday, November 16, the US House of Representatives passed the Republican crafted tax reform bill by a 227 – 205 vote.   That same day, the Senate Finance Committee approved its version of the Tax Cuts and Jobs Act, sending the bill to the full Senate for debate and a vote. The Senate is expected Read More…

EMPLOYMENT TAX ISSUES DURING TAX-EXEMPT ORGANIZATION IRS AUDITS

The IRS has emphasized employment tax compliance during its tax-exempt audits for many years.  They believe that employment tax is a high risk area of noncompliance for non-profits.  Some of the main issues for IRS audit review include: Expense reimbursements and accountable plan compliance, Treatment of fringe benefits as taxable compensation, Independent contractor vs. employer Read More…

SCHEDULE G – SUPPLEMENTAL INFORMATION REGARDING FUNDRAISING OR GAMING ACTIVITIES

Many non-profit organizations supplement their gross income by holding fundraising events.  If your organization spends more than $15,000 during the tax year on professional fundraising services, has more than $15,000 of gross fundraising income, or has more than $15,000 of gross gaming income, you must attach Schedule G to the Form 990. If your organization Read More…

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