Ed Kurowicki, Managing Partner of BKC, CPAs, PC spoke regarding the Hunterdon County Chamber of Commerce’s Advancing Hunterdon Initiative at Friday’s informative Business Summit Luncheon. Keynote speaker Dr. Vijay Swarup, VP of Research and Development for ExxonMobil Research & Engineering Company in Clinton, NJ provided an energy outlook and highlighted potential breakthrough technologies.
BKC Pet Lovers paired their Pet Charity Collection for Associated Humane Societies with participation in Flemington Rotary’s 6/4/17 “Bark in the Park” dog walk event. It was a great day of fun, exercise and fellowship in Historic Downtown Flemington. All net proceeds of the event went to Rotary Charities and local animal rescue organizations. Donations for the Read More…
BKC, CPAs, PC will be collecting pet supplies in the Flemington & Woodstown offices to benefit “Associated Humane Societies” through June 12, 2017. BKC Pet Lovers will be pairing this collection with participation in Flemington’s 6/4 “Bark in the Park” dog walk event. Join us for a great day of fun, exercise and fellowship in Read More…
On April 26th, the White House announced the President’s Federal tax proposals, which include large reductions in corporate tax rates, flattening of the individual income tax brackets, and repeal of the estate and alternative minimum taxes. Here are some highlights: Individuals The current seven graduated tax brackets (ranging from 10% to 39.6%) would be replaced Read More…
Within the last couple of years, the IRS has made it much simpler for organizations to apply for Federal tax-exempt status by filing a Form 1023-EZ. To qualify for this short-form application, the organization must not have annual gross receipts in excess of $50,000 in any of the past three years or projected in any Read More…
Many tax-exempt organizations may have unrelated business units that are part of the organization’s tax-exempt purpose, and are used to fund the organization. These unrelated businesses, while not jeopardizing the organization’s tax-exempt status, could yield taxable income to the organization. If the business is run by paid employees and is not for the convenience of Read More…
Transparency, in the non-profit sense, is defined as the widespread availability of relevant, reliable information about the performance, financial position, and governance of an organization. Transparency is a trust building tool; the more transparent your organization becomes, the more trustworthy you will be viewed by the public, donors, and regulators. It is important for non-profit Read More…
By Lee Klumpp, CPA, CGMA There are many opinions on what the fiduciary responsibilities of nonprofit board members are. The National Council for Nonprofits discusses that boards should: a) Take care of the nonprofit by ensuring prudent use of all assets, including facility, people and goodwill; and provide oversight for all activities that advance the nonprofit’s Read More…
When a partnership or an LLC filing as a partnership, files their Federal tax return, there is never any tax due at the entity level. Instead, all income, deductions, and credits flow proportionally to the partners on their respective Schedule K-1’s. As a result, if the IRS decided to audit a partnership tax return, taxes Read More…
Through April 21st, BKC, CPAs, PC will be collecting leftover Easter Candy, in addition to Care Package items & Letters to send to our Troops through “Operation Gratitude”. BKC will utilize Dry Ice Cooler shipping boxes to withstand the heat, which should enable us to include chocolates! Ideal candy items include Jelly Beans & Hard Read More…
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