As we approach year-end, now is the time for individuals, business owners, and family offices to review their 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations. The information contained in this article is based on tax proposals as of November 4, 2021 and is subject to change based Read More…
As the U.S. entered 2021, many assumed that newly elected President Joe Biden along with Democratic majorities in the House and Senate would swiftly enact tax increases on both corporations and individuals to pay for the cost of proposed new infrastructure and social spending plans, potentially using the budget reconciliation process to do so. Since Read More…
As we approach year-end, now is the time for individuals, business owners, and family offices to review their 2021 and 2022 tax situations and identify opportunities for reducing, deferring, or accelerating tax obligations. Areas potentially impacted by proposed tax legislation still in play should be reviewed, as well as applicable opportunities and relief granted under Read More…
On Friday, November 19th, the House of Representatives passed a $1.75 trillion bill that funds universal pre-K, Medicare expansion, renewable energy credits, affordable housing, a year of expanded Child Tax Credits and major Obamacare subsidies. The final vote was 220-213. Now that it has cleared the House, President Joe Biden’s Build Back Better Act goes Read More…
BKC, CPAs, PC is pleased to announce the merger of Louis J. Zampetti, CPA, LLC. The combined firm will continue as BKC, CPAs, PC with offices in Flemington and Woodstown, NJ. Louis J. Zampetti, CPA, LLC, an established Somerville, NJ practice, focused on providing tax and advisory services to individuals and small businesses. Lou Is a Read More…
On Friday November 5th, the US House of Representatives passed the Infrastructure Investment and Jobs Act (H.R. 3684). There are very few tax provisions in this legislation, with more vast changes expected in the upcoming budget reconciliation bill currently under consideration by Congress. Under the new legislation comes the end of the employee retention credit Read More…
On October 28, 2021, President Joe Biden unveiled a framework for a $1.75 trillion tax and spending package. The tax and spending provisions of the Build Back Better framework include: A 15% minimum tax on corporate profits for firms with earnings over $1 billion reported to shareholders, and a 1% surtax on stock buybacks. A Read More…
On October 20, 2021, the Economic Development Authority (NJEDA) will open applications for the new Small Business Improvement Grant Lease Program. This is the first of several programs that the NJEDA will be rolling out, as part of the Main Street Recovery Program. $10 million dollars has been allocated to the Business Lease Program, with Read More…
On October 20, 2021, the Economic Development Authority (NJEDA) will open applications for the new Small Business Improvement Grant Lease Program. This is the first of several programs that the NJEDA will be rolling out, as part of the Main Street Recovery Program. $15 million dollars has been allocated to the Business Lease Program, with Read More…
On September 8, 2021, the SBA announced major changes to the Economic Injury Disaster Loan (EIDL) Program. New COVID EIDL policy changes include the following: Maximum loan cap increased from $500,000 to $2 million Use of funds was expanded to include payment and pre-payment of business non-federal debt incurred at any time (past or future) and Read More…
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