Labor Unions

BKC RANKS IPA TOP 500 ACCOUNTING FIRMS IN U.S.

BKC, CPAs, PC has been ranked one of the Top 500 Public Accounting Firms in the Nation! INSIDE Public Accounting (IPA) is a leader in practice management resources for the public accounting profession. IPA has assisted firms across North America to grow and thrive since 1987.  The one-of-a-kind IPA 500, recognizes the top U.S. based Read More…

IRS MID-YEAR CHANGE TO STANDARD MILEAGE RATE

Effective July 1 through December 31, 2022, the standard mileage rate for the business use of employees’ vehicles will be 62.5 cents per mile – the highest rate the IRS has ever published—up 4 cents from the 58.5 cents per mile rate effective for the first six months of the year. The new rate for Read More…

TAX PROPOSALS FROM THE BIDEN ADMINISTRATION & CONGRESS

      This article has been superseded by this update:  BUILD BACK BETTER ACT PASSES THE HOUSE OF REPRESENTATIVES Original 9/3/21 Article: The Biden Administration’s 3-part economic recovery plan proposal is known as the “Build Back Better agenda”.  It has evolved quite a bit of the last few months but this is how it Read More…

FIVE RANSOMWARE THEMES KEEPING DIRECTORS UP AT NIGHT

Spoiler alert: If it isn’t already, cybersecurity should likely be on your board agenda at every meeting.  BDO recently hosted directors and subject matter experts at a regional board roundtables to learn, mentor and network among peers on the topic of ransomware. Here are the top five takeaways from those recent discussions: Increased Risk The global COVID pandemic has created an environment Read More…

NJ GOV. SIGNS EXECUTIVE ORDER CREATING NEW WORKPLACE MANDATES

New Jersey Governor Phil Murphy signed Executive Order 192 on October 28th, which makes effective November 5, 2020, new COVID-19 related health and safety mandates for employers.  The order states that every business, school, nonprofit and governmental office require any employee, customer or visitor who is physically present to undergo a daily health screening, maintain Read More…

EMPLOYEE SOCIAL SECURITY TAXES TO BE DEFERRED

  On August 8, 2020, President Trump signed an Executive Order, for the Treasury Department to issue guidance related to the deferral of Social Security Taxes, for employees.  The deferral will apply to wages that are paid from September 1, 2020 through December 31, 2020. Not all employees will qualify for the payroll tax deferral.  Read More…

EMPLOYERS CAN IMMEDIATELY PROVIDE TAX-FREE QUALIFIED DISASTER PAYMENTS TO EMPLOYEES IN CONNECTION WITH COVID-19

Employers are scrambling to find ways to help their employees who are impacted by the novel coronavirus (COVID-19). Help is available.  Now that the COVID-19 has been declared a national emergency,[1] Internal Revenue Code Section 139 can be used to allow employers to make tax-free payments or reimbursements to employees as “qualified disaster payments.” Below are Read More…

FEDERAL AID PACKAGE HELPS INDIVIDUALS AFFECTED BY COVID-19

The Families First Coronavirus Response Act (H.R. 6201),  became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding. The Act includes up to 80 hours of emergency Read More…

FEDERAL OPPORTUNITY ZONES

The Qualified Opportunity Zone (QOZ) program was enacted as part of the 2017 federal Tax Cuts and Jobs Act (TCJA) and is designed to direct long-term capital investments into eligible property located in a Qualified Opportunity Zone. There are 8,762 designated QOZ’s located throughout the United States, of which 8,532 are in low-income community tracts Read More…

5 PRODUCTIVITY KILLERS & HOW TO SLAY THEM

If you feel that business is harder today, you’re not alone. In addition to rising regulatory obligations and relentless technological change, the ability to attract and retain top talent has never been more difficult. To compete and thrive in this environment, businesses need to optimize their finance and accounting practices, and that means tackling challenges Read More…