If you pay attention to financial news, you are probably seeing a lot of discussion about inflation, which has reared its head in the U.S. economy after being mostly dormant for the last decade. In May 2021, the Consumer Price Index for All Urban Consumers (CPI-U), often called headline inflation, rose at an annual rate Read More…
BKC, CPAs, PC is proud to announce the election of Joseph Carducci, CPA, PSA as President of BKC, CPAs, PC and Michael A. Holk, CPA, PSA as Vice President. For over 27 years, Joe has served as a Leader within BKC, CPAs, PC, representing BKC’s finest qualities, with his extensive professional experience and qualifications, in-charge Read More…
On June 16, 2021, Douglas Hilgenberg, CPA, MBA of BKC, CPAs, PC graduated as part of Leadership Hunterdon’s Class of 2020-21. Leadership Hunterdon is a program sponsored by the Hunterdon County Chamber of Commerce. The goal of the program is to help participants become trustees of their communities and become leadership resources. Since 2012, the program Read More…
The New Jersey Division of Taxation (Division) on June 3, 2021 unveiled a new combined reporting initiative, designed to help companies voluntarily comply with their historic separate-company return filing requirements for periods prior to 2019. The initiative will run from June 15, 2021 to October 15, 2021. Background on New Jersey Filing Requirements New Jersey Read More…
The choice of entity is among the most important decisions facing business owners when starting a business or investment activity. The choice of tax entity generally includes a C-Corporation, S-Corporation or Partnership, each having its own advantages and disadvantages that must be evaluated in terms of how the entity’s tax and legal characteristics align with Read More…
2020 was a very bad economic year for many businesses. Quite often when you hear the phrase, “I’m from the government and I’m here to help”, the common response would be, yeah right! But 2020 was quite different. Congress enacted several pieces of key legislation that greatly helped many small to mid-size businesses. Under the Read More…
Congratulations to 2021 NJBIZ ICON Award recipient, Edward J. Kurowicki, MBA, CPA/CFF, CVA, Founding Shareholder of BKC, CPAs, PC for this esteemed honor. The NJBIZ ICON Awards recognize New Jersey business leaders over the age of 60 for their contributions, their success and their leadership. Winners were chosen by a group of independent judges following Read More…
Governor Cuomo signed the New York State Fiscal Year 2021-2022 budget bill on April 19, 2021. Included in this bill is New York State’s version of a pass-through entity (PTE) tax. New York is the final state in the tri-state area to pass such legislation. Similar to New Jersey’s version, eligible entities need to make Read More…
On Monday, April 12, 2021, Governor Murphy signed a bill authorizing the New Jersey Economic Development Agency (NJEDA) to issue grants to non-profits and small businesses. The NJEDA will issue a total of $85 Million under Phase 4 of the Small Business Emergency Assistance Grant Program. The program is intended to provide short-term assistance to Read More…
Employee benefit plan sponsors need to begin preparing for the adoption of Statement on Auditing Standards No. 136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (Employee Retirement Income Security Act of 1974). This auditing standard was enacted by the American Institute of Certified Public Accountants (AICPA), Read More…
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