BKC welcomes Lily Bradow as a member of the firm’s Audit & Assurance Group. Lily is a graduate of The College of New Jersey with a Bachelor of Science degree in Accounting. Lily has over 15 years of experience in public accounting, with specialization in accounting and auditing for companies in various industries, employee benefit Read More…
On April 24, 2018, New Jersey Governor Phil Murphy, who made “equal pay for equal work” a signature campaign promise, signed into law the Diane B. Allen Equal Pay Act ( the “Equal Pay Act”). The Equal Pay Act greatly expands the New Jersey Law Against Discrimination (NJLAD) by requiring equal pay for all employees Read More…
New Jersey has now become the tenth state to enact a statewide mandatory paid-sick-leave law. The New Jersey Paid Sick Leave Act (A1827) was signed into law on May 2, 2018 by Gov. Phil Murphy and will go into effect on Oct. 29, 2018 . Once effective, it allows workers to accrue one hour of Read More…
In the early morning hours of Saturday, December 2nd, the U.S. Senate passed its version of the Tax Cuts and Jobs Act by a vote of 51-49. It was passed with no Democratic support and one opposing Republican vote. While the bill still differs from the House bill on several key issues, amendments to the Read More…
On Thursday, November 16, the US House of Representatives passed the Republican crafted tax reform bill by a 227 – 205 vote. That same day, the Senate Finance Committee approved its version of the Tax Cuts and Jobs Act, sending the bill to the full Senate for debate and a vote. The Senate is expected Read More…
On May 18th, the U.S. Department of Labor released new rules regarding the requirement for overtime pay for white collared salaried employees who do not primarily perform executive, administrative, or professional duties. The new rules were to increase the mandatory overtime pay (time-and-a-half-pay) for hours worked in excess of 40 per week for workers who Read More…
In an effort to reduce fraud the IRS has changed the deadline for the filing of Forms W-2 and Form 1099. The IRS now requires that Forms W-2 and 1099 be provided to recipients and filed with the IRS or Social Security Administration, by January 31st. In the past the January 31st deadline only applied Read More…
2016 Year-end Strategies for Businesses & Individuals: Straddling Two Years of Significant Changes. Click to read here.
May 18, 2016 the Department of Labor (DOL) released its final changes to regulations governing overtime exemptions under the Fair Labors Standards Act (FLSA). Click here to read the Overview & Summary of the Final Rule. Please don’t hesitate to contact us to discuss how these changes impact your organization specifically.
The IRS and the State of New Jersey annually require the filing of a Form 1099-MISC for all payments of $600 or more to unincorporated (sole proprietors, partnerships, or limited liability companies) service providers during each calendar year. There is a late filing penalty of $50 per unfiled Form 1099 (the penalty increases to $260 Read More…
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