JUNE CLIENT UPDATE NEWSLETTER
Tax day might seem far away, but waiting until year-end to make your tax moves may prove costly to you. Contact us to discuss your tax planning strategy.
Tax day might seem far away, but waiting until year-end to make your tax moves may prove costly to you. Contact us to discuss your tax planning strategy.
If you’re a sole proprietor, you have probably wondered at some point whether you’d be better off if you incorporated your business. Here are some facts for you to consider. The single biggest benefit of incorporating a business is limiting an owner’s liability. In theory, a stockholder in a corporation risks only his or her Read More…
Surprises are rarely good. There are many different emotions that come with the experience of surprise: fear, anxiety, and joy—to name a few. Deals can also cause the same emotions for a deal maker. Perhaps the booked pipeline was stronger than expected or new management, while unproven in historical results, has the ability to create Read More…
If you owe taxes on your 2018 tax return, the due date to make the payment is Monday, April 15. Miss this deadline by just one day and the IRS will charge you interest and penalties! Don’t risk adding unnecessary dollars to your tax bill. Review the payment options below and make a plan now Read More…
Darlene Shaffer, CPA/CFF, CVA, Principal at BKC, CPAs, PC presented “What’s Your Business Worth?” last Wednesday at the Unity Bank Center for Business and Entrepreneurship at our Hunterdon Chamber’s office. Darlene reviewed the three basic approaches and several methods for valuing business. She discussed when you will need a business valuation, why a valuation for one Read More…
IRS expands penalty waiver for those whose tax withholding and estimated tax payments fell short in 2018; key threshold lowered to 80 percent. IR-2019-55, March 22, 2019 WASHINGTON — The Internal Revenue Service today provided additional expanded penalty relief to taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total Read More…
BKC, CPAs is honored to be ranked on NJBIZ 2019 Top 50 Accounting Firms. NJBIZ is a New Jersey business journal, which produces a weekly print edition with a circulation of more than 15,000 copies, as well as providing 24/7 business news coverage through its NJBIZ.com website and multiple daily e-newsletters. The publication, founded in 1987 and based in Read More…
Have you recently married, divorced, or lost a spouse? A change in marital status should prompt a review of financial matters, but at such a time it is easy to overlook the details. Here are a few reminders and suggestions. Insurance coverage. When your marital status changes, review your insurance policies. Combining separately held health insurance Read More…
Receiving a gift is not a taxable event to the one who receives the gift. If the gift is large enough, it could result in gift tax being due by the donor. In any case, you are not to report any gifts you receive on your income tax return. This is true whether the gift Read More…
Now is the time for tax fraud and theft. As the IRS continues to neutralize these threats, scammers are developing improved tactics to steal your identity and tax refund. Here is a recap of what the IRS is seeing this year: More sophisticated email scams. A recent IRS alert warns taxpayers to be on the lookout Read More…