If a business entity wants to become a tax-exempt organization, it is not enough to incorporate the organization in a state as a non-profit organization. In the past, if you wanted to apply to the Internal Revenue Service to become a Section 501(c)(3) charitable organization (which is required for individuals to be able to deduct Read More…
Bedard, Kurowicki & Co., CPA’s (BKC) has joined the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting and service firms with similar client service goals. As an independent member of the BDO Alliance USA, Bedard, Kurowicki & Co., CPA’s can expand the services offered to clients by drawing on Read More…
Most business people who incur expenses relating to “entertaining” clients are familiar with the phrase “T&E” (travel and entertainment). However, for income tax purposes, the proper phrase should be “M&E” (meals and entertainment). That is because while business travel is generally fully deductible to the business or to the individual incurring the expense, meals and Read More…
With the advent of the Affordable Care Act, many small business owners and their employees who don’t have conventional health care coverage through their spouse’s employer are looking for affordable health care plans. To save premium dollars, many of these business owners opt for high deductible health plans. The IRS provides tax benefits for such Read More…
Bedard, Kurowicki & Co., CPA’s welcomes Cheryl Keay to their administrative team. Cheryl attended Rutgers University and has over 20 years of professional experience. Cheryl’s responsibilities at BKC include benefits administration, internal bookkeeping, payroll administration, collections and more. Cheryl and her two sons are residents of Flemington, NJ. Cheryl also serves as a Board Member Read More…
Many individuals who are active volunteers for charities may not be aware that there are tax deductions available for their unreimbursed out-of-pocket expenses incurred while acting as a volunteer. These tax deductions are considered to be cash charitable contributions. They include the following: Away-from-home travel expenses while performing services for a charity, such as airfare, taxis, Read More…
Andrew D. Ross, CPA, Tax Manager at Bedard, Kurowicki & Co., CPA’s, was appointed to the Board of Directors for the Center for Educational Advancement (CEA). CEA provides caring support and guidance to people with special needs through programs that empower, enrich and inspire. Andy has been a senior tax manager at Bedard, Kurowicki & Read More…
The domestic production activities deduction (DPAD) is a deduction available to businesses that produce goods in the U.S. The deduction is not limited to manufacturers, however. It includes the production of computer software, film, or utilities; the leasing, licensing or sale of property you produce, grow, or extract; as well as construction, engineering, and architectural Read More…
In 2012, New Jersey enacted the Revised Uniform Limited Liability (LLC) Act. The revised Act governs all LLC’s formed in New Jersey after March 18, 2013, and will govern all New Jersey LLC’s formed prior to that date, beginning on March 1, 2014. The Revised Act governs the rights and obligations of all LLC members, Read More…
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