Don’t leave money on the table! If you qualify for the ERTC you may be eligible to receive up to $26,000 per employee! An eligible employer is an employer that actively carries on a trade or business during calendar year 2020 or 2021, and meets one of the following two tests: Government Order Test: An Read More…
On July 3, 2023, New Jersey Gov. Phil Murphy signed budget bill A.B. 5323, altering several aspects of the state’s corporation business tax (CBT) regime. Among many other changes, the bill imposes an economic nexus threshold for CBT purposes, switches the state’s combined reporting sales factor sourcing method from “Joyce” to “Finnigan,” treats global intangible Read More…
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…
The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and construction industry. The legislation could provide a significant financial boost for firms looking to utilize environmentally conscious Read More…
We have all heard of the Great Resignation, a term coined to describe the millions of employees that left their jobs since the onset of the COVID pandemic in 2020. Many employees who moved on to another job are having second thoughts about their decision – a new phenomenon that is being referred to as Read More…
Businesses face disruption on multiple fronts, and they are struggling to get things done. Company leaders must contend with and the challenges of managing a remote workforce, as well as supply chain disruptions, demand shifts, resource constraints and more, all while devising critical plans for the road ahead. Combined with uncertainty about how long the Read More…
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…
The healthcare provider revenue cycle consists of several key components, but one that often warrants a critical assessment is cash posting. In some systems, cash posting simply includes insurance and patient receipts. However, in many healthcare systems, cash posting includes other department receipts (e.g., dietary, birthing classes, sports physicals) and a number of balancing and Read More…
On March 15, 2022, Isabella Casillas Guzman, the head of the U.S. Small Business Administration announced that the SBA is providing an additional deferment for existing borrowers of Economic Injury Disaster Loans (EIDL loans). The additional deferment provides for a total of 30 months deferment of principal and interest payments, from the date of the Read More…
The disruptions caused by the COVID-19 pandemic have driven significant losses for many businesses, causing some to permanently close. Owners of these and other distressed businesses should consider whether they are eligible for a deduction attributable to an investment in worthless stock. Generally, if the stock is a capital asset and becomes wholly worthless during Read More…
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