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PRESIDENT BIDEN’S DISASTER DECLARATION FOR NEW JERSEY AND NEW YORK

On September 1, 2021 New Jersey and New York were hit with the remnants of Hurricane Ida, which caused catastrophic damages in the state of Louisiana a couple of days prior. Some portions of New Jersey and New York received excessive storm damage due to flooding and tornadoes. On September 2nd, President Biden approved an Read More…

NEW YORK STATE PASS-THROUGH ENTITY TAX

Under new Tax Law Article 24-A, an optional pass-through entity tax (PTET) that partnerships or New York S Corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021. Individual pass-through entity owners electing to pay PTET who are subject to personal income tax may be eligible Read More…

BKC, CPAS, PC EXPANDS WITH MERGER OF HODAKOWSKI & HODAKOWSKI, CPAS

We are very pleased to announce the expansion of BKC, CPAs, PC with the merger of Hodakowski & Hodakowski CPA’s.  The combined firm will continue as BKC, CPAs, PC with offices in Flemington and Woodstown, NJ. Hodakowski & Hodakowski, CPAs is an established Flemington, NJ based accounting firm, serving clients for over 50 years. BKC and Hodakowski Read More…

SO, YOU NEED A SINGLE AUDIT… WHAT IS IT AND WHAT SHOULD YOU EXPECT?

Published by NJCPA August 3, 2021 By Michael A. Holk, CPA, PSA – BKC, CPAs PC One of the few positives in the current economic environment is the availability of government funds. In an effort to combat the impact of COVID-19, many entities have received a substantial increase in the amount of their federal funding Read More…

NEW JERSEY ECONOMIC DEVELOPMENT AGENCY ANNOUNCES NEW FUNDING

On Monday, April 12, 2021, Governor Murphy signed a bill authorizing the New Jersey Economic Development Agency (NJEDA) to issue grants to non-profits and small businesses.  The NJEDA will issue a total of $85 Million under Phase 4 of the Small Business Emergency Assistance Grant Program.  The program is intended to provide short-term assistance to Read More…

CARES ACT EMPLOYEE RETENTION CREDITS FOR NONPROFIT EMPLOYERS

Many nonprofit organizations were forced to shutter or temporarily close their operations under a governmental order as a result of the coronavirus pandemic, while others were forced to severely limit their offerings.  One way to continue to pursue your organization’s objectives is to ensure that you are still able to function, even if only in a limited Read More…

NEW JERSEY ECONOMIC RECOVERY ACT OF 2020

On January 7, 2021, Governor Phil Murphy signed the New Jersey Economic Recovery Act of 2020. The law provides for the administration of programs and policies related to jobs, property development, food deserts, community partnerships, small and early-stage businesses, among others. In an effort to bolster development, the Economic Recovery Act creates, among other things, Read More…

R&D TAX CREDIT FAQS FOR LARGE AND SMALL BUSINESSES

The federal R&D tax credit benefits large and small companies in nearly every industry. Common questions and answers related to the R&D tax credit and those specific to small businesses are outlined below. What is the R&D tax credit? Created in 1981 to stimulate research and development (R&D) in the United States, the R&D tax credit is Read More…

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