As we all know, cost of college tuition is going through the roof! Therefore, planning for college costs is a very important financial decision. 529 Plans are Qualified Tuition Programs that allow for an investment account to be established, specifically funding a child’s future college costs. Favorable tax results are achieved, regardless of the family’s Read More…
Andrew D. Ross, CPA, Tax Manager at Bedard, Kurowicki & Co., CPA’s will be discussing the ABLE Act at the Center for Educational Advancement Family Information Night on March 11, 2015 at 6:30 pm. The session will cover Adult Services in NJ update on the Changing DVRs and DDS systems with guest speaker Peggy Englebert, Executive Read More…
The Treasury Department and Internal Revenue Service released much-requested guidance, simplifying the procedures for small taxpayers to comply with the final tangible property regulations (T.D. 9636) and disposition regulations (T.D. 9689). The new procedures allow small businesses to change a method of accounting under the final tangible property and disposition regulations on a prospective basis Read More…
Starting in 2015, there have been two changes in the tax law regarding certain distributions from employer qualified retirement plans and from Individual Retirement Accounts (IRA). The first change is that an individual will be limited to one tax-free IRA rollover in any one year period. The old law was that an individual was limited Read More…
This information qualifies as good-to-know, and not necessarily income tax related. New Jersey’s Clean Energy Program offers rebates of the purchase price for Energy Efficient Clothes Washers, Clothes Dryers, and Refrigerators. In order to qualify, specific makes and models must match the list maintained by the Bureau of Public Utilities. Rebates for appliances range from Read More…
Bedard, Kurowicki & Co., CPA’s, PC is pleased to announce that Michael A. Holk, CPA is now a shareholder in the firm. Mike has worked for Bedard, Kurowicki & Co., CPA’s for over 15 years. He regularly performs tax planning, preparation and financial reporting for organizations and individuals, and provides impeccable service and leadership to Read More…
Bedard, Kurowicki & Co., CPA’s, PC is pleased to announce that Edward P. Portice, CPA and Darlene Shaffer, CPA/ABV/CFF, CVA have been promoted to Principals within the firm. Edward P. Portice, a resident of Hope, NJ, joined BKC in 2007 and is a graduate of Bloomfield College with Bachelor of Science in Accounting. Ed brings Read More…
Although it is not common to have a tax-exempt status revoked, it does happen. Decrease the chance that your organization’s tax-exempt status could be revoked by following these rules: Corporate Records: All nonprofit organizations must keep good records. These records should consist of, at a minimum, the original articles of incorporation, including any amendments, bylaws, Read More…
A donor’s perception of your organization is very important in making the decision on where to contribute their hard earned dollars. It is useful to think about how donors view your non-profit organization. Some questions donors may consider include the following: Are the organization’s resources allocated in the most efficient manner in order to fulfill Read More…
The requirements for preparing and filing information returns, such as Forms 1099 and W-2, apply to all businesses, including owners of rental properties. Current IRS Regulations require that information returns be issued to all non-corporate businesses that provide goods or services, to your business or rental activity, aggregating $600 or more during the year. The Read More…
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