Specialized Industries

TAX TIDBIT: WORKPLACE WELLNESS TAX RAMIFICATIONS

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…

FORM 1099 REQUIREMENTS FOR 2015

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…

PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015

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…

IS YOUR BUSINESS COMPLIANT WITH FORM 1099 REQUIREMENTS?

The requirements for preparing and filing information returns, such as Forms 1099 and W-2, apply to all businesses, including owners of rental properties.  Current IRS Regulations require that information returns be issued to all non-corporate businesses that provide goods or services, to your business or rental activity, aggregating $600 or more during the year.  The Read More…

TAX TIDBIT: BUSINESS MEALS & ENTERTAINMENT

Most business people who incur expenses relating to “entertaining” clients are familiar with the phrase “T&E” (travel and entertainment).  However, for income tax purposes, the proper phrase should be “M&E” (meals and entertainment).  That is because while business travel is generally fully deductible to the business or to the individual incurring the expense, meals and Read More…

About BKC

Shareholder Profiles Firm News

Resources

STAY CONNECTED Sign up to receive our newsletter