Workplace wellness programs, if implemented correctly, will promote healthy lifestyles for the employees and thereby reduce certain health costs to the employer. Under the Internal Revenue Code, there are tax advantages for both the employer and the employee for various types of workplace wellness programs. If the program is structured correctly, the benefit will be Read More…
There are numerous organizations in this area that have received Federal tax-exempt status from the IRS. The most common of these are Section 501(c)(3) charitable organizations. There are other types of Section 501(c) organizations, such as social clubs and chambers of commerce. Both types of tax-exempt organizations must file an annual Form 990 to show Read More…
When preparing your 2015 individual and New Jersey income tax return or planning to file a future year’s individual income tax return, there are key ages for either you or your dependent children that will affect your family. Age 13- when a child turns age 13, they are no longer eligible for the child and Read More…
On December 18, 2015, a new tax law was enacted to retroactively reinstate a number of tax provisions for 2015 and beyond that would have otherwise expired after 2014. Some of these provisions were made permanent, while others were extended for a few years. The enactment of this legislation should help businesses plan with greater Read More…
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…
Just before recessing for the holidays, the House and Senate passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The Act does considerably more than the typical tax extenders legislation seen in prior years; it makes permanent over 20 key tax provisions, including the research tax credit, enhanced Code Sec. 179 expensing, Read More…
Starting in 2014, all individuals and their dependents had to be covered by health insurance, or be subject to a shared responsibility penalty. Starting in 2015, all employers who have over 50 full-time or full-time equivalent employees must offer all their full-time employees and their dependents “Minimal Essential Coverage” (MEC) with a minimum value and Read More…
Everyone at BKC CPA’s would like to wish you a happy and healthy holiday season and a prosperous new year!
BKC will be expanding with the addition of the firm of William Colantano, CPA. BKC is a full service certified public accounting firm, currently the largest in Hunterdon County, NJ, founded in 1992. BKC helps privately-held companies and their owners reach their goals through pairing its strong financial knowledge with a deep understanding of its Read More…
Darlene Shaffer, a CPA, forensic and valuation expert with Bedard, Kurowicki & Co., CPA’s, PC located in Flemington, New Jersey, has recently been elected Treasurer of Board of the New Jersey Collaborative Law Group. Darlene is trained in Interdisciplinary Collaborative Law and is also a member of the International Academy of Collaborative Professionals (IACP). Collaborative Read More…
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