The Pennsylvania Department of Revenue will run a 60 day tax amnesty period from April 21, 2017 to June 19, 2017 for taxes due on or before December 31, 2015. The tax amnesty will cover all taxes administered by the Dept. of Revenue, such as individual income taxes, corporate income/franchise taxes, sales taxes, inheritance taxes, Read More…
All financial institutions and individuals that receive over $600 of mortgage interest in a calendar year must issue a Form 1098 to the mortgage payer. In the past, the only information that was required on Form 1098 was the names and tax ID numbers of the payer and recipient and the amount of interest received. Read More…
Code Blue Donations Needed ASAP for NJ Emergency Cold Weather Shelters in Need Salem County is currently in need of the following items for homeless individuals. Collection Ends Wednesday, February 22nd so that we can get our items in use ASAP. They have adequate blankets, but are in need of the following items: Gloves for men Socks Read More…
As of January 1, 2017, the following five NJ urban enterprise zones (UEZ) will expire. This means that if you have a for-profit business client in the following UEZ’s: Bridgeton Camden Newark Plainfield Trenton The business will no longer be able to collect NJ sales tax at a 50% reduced rate and you will no Read More…
We are very pleased to announce some exciting news about the firm! Effective, January 3, 2017, the professionals of Warner & Company CPA’s have joined the team at Bedard, Kurowicki & Co., CPA’s, PC (BKC, CPAs, PC). The merged firm will be known as BKC, CPAs, PC with offices in Flemington and now also in Read More…
Darlene Shaffer, a CPA, a financial planner with BKC, CPAs, PC has recently been awarded the Personal Financial Specialist (PFSSM) credential by the American Institute of Certified Public Accountants (AICPA), joining an elite group of professionals who have demonstrated advanced knowledge of tax, estate, retirement, investment and insurance planning. The PFSSM Credential, established in 1987 Read More…
There are various requirements for both donors and charitable organizations as to substantiating charitable contributions. The donor must have either a bank record or written communication from a charity for any amount of a charitable contribution before the donor can properly claim a charitable contribution deduction. In addition, the donor is responsible for obtaining a 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…
By Joan Vines, CPA The Internal Revenue Service (IRS) released proposed regulations that provide guidance for the nonqualified deferred compensation arrangements of tax-exempt organizations in June. The regulations, which have been anticipated by the industry since 2007, address the interplay between Internal Revenue Code Section 457 and Section 409A, which govern the nonqualified deferred compensation Read More…
On September 2nd, Governor Christie signed an executive order, which would be effective on January 1, 2017, ending the Wage Reciprocity Agreement between New Jersey and Pennsylvania. That order would have forced New Jersey residents working in Pennsylvania (and vice versa) to file both a resident tax return and a non-resident tax return, because the Read More…
39 State Route 12, Suite 2, Flemington, NJ 08822 (908) 782-7900 Fax: (908) 782-4328
34 East Avenue, Woodstown, NJ 08098 (856) 769-0707 Fax: (856) 769-4657 info@bkc-cpa.com
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