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New Jersey Economic Recovery Act of 2020

On January 7, 2021, Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020. The law provides for the administration of programs and policies related to jobs, property development, food deserts, community partnerships, small and early-stage businesses, among others.

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Round 2 of Paycheck Protection Program

Congress expanded the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act with the passage of the Consolidated Appropriations Act which also clarifies the deductibility of certain expenses paid for with funds from a loan under PPP and tax impact on income for the forgiveness of the related debt.

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Electronic Communications to Reduce the Spread of COVID-19

The health & safety of our clients and employees is paramount and therefore, BKC has been taking enhanced precautions concerning the spread of Coronavirus (COVID-19). Read more about alternative communication options to minimize potential risks as we work towards the upcoming tax deadlines:

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BKC & BDO Alliance USA

BKC is an independent member of the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting and service firms with similar client service goals. This alliance allows us to better service our clients with greater flexibility, efficiency and cost-effectiveness.

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RECENT TAX TIDBIT

EMPLOYEE RETENTION CREDIT – WHAT’S NEW

On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law.  The CAA, 2021 Act greatly expanded the Employee Retention Credit (ERC).  The credit is now available to more businesses and extends the date for wages paid through June 30, 2021. Under the CARES Act, the ERC was available to qualified Read More…

Recent Blog Post

NEW JERSEY ECONOMIC RECOVERY ACT OF 2020

On January 7, 2021, Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020. The law provides for the administration of programs and policies related to jobs, property development, food deserts, community partnerships, small and early-stage businesses, among others. In an effort to bolster development, the Economic Recovery Act creates, among other things, Read More…

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