On Friday, August 25, 2023, the IRS announced that the section of SECURE 2.0 with respect to Catch-Up Contributions, is being delayed until 2026. This provision stated that all employees who earned compensation greater than $145,000 in the prior year must have their 401(k) elective deferral catch-up contributions be designated as Roth. This was originally Read More…
Schedule K-2 is an extension of Schedule K of Forms 1065 and 1120S and is used to report items of international tax relevance from their operations. Schedule K-3 is an extension of Schedule K-1 and is generally used to report to partners their share of the items reported on Schedule K-2. Schedule K-3 will not Read More…
In New Jersey, employers who have been in business for at least two years, and have at least 25 employees will be required to offer their own workplace retirement savings program or be automatically enrolled in a state-run plan called the Secure Choice Savings Program. Now is the time to evaluate your options. Working with a Read More…
The Employee Retention Tax Credit (ERTC) is a refundable payroll tax credit for wages paid by an employer whose operations were affected by COVID-19. Employers may use ERTCs to offset the employer’s federal payroll tax deposits. Employers are eligible if they actively carried on a trade or business during the calendar years 2020 or 2021, Read More…
As valuations soften amid ongoing market volatility, private equity fund managers are turning to more strategic exit planning. Coming off a year of explosive M&A and exits in a high-valuation environment, fund managers absorbing inflation and interest rate data may delay exits: U.S. private equity exit value declined to $90.1 billion in the first quarter Read More…
BKC Kids had a great day at our office yesterday! May have a few future accountants in the mix! Read more BKC Firm News here. Interested in joining our team? Learn about Career Openings at BKC here.
The following is a helpful blank “Tax Organizer”, which is not required, but may assist you in identifying & gathering the information necessary for us to accurately complete your 2021 income tax returns. Feel free to utilize this free Tax Organizer and provide to us with your 2021 Tax Preparation documents. If your tax return Read More…
The long established certified public accounting firm of Stolz & Griffith, LLC has merged with BKC, CPAs, PC, of Flemington, NJ. The combined firm will continue as BKC, CPAs, PC with offices in Flemington and Woodstown, NJ. Since 1991, Stolz & Griffith, a professional public accounting practice in Flemington, NJ, has offered a full array Read More…
Wishing you peace, joy and prosperity for 2022. To our clients, staff and friends, thank you for your continued trust, partnership and service. We hope you enjoy a beautiful holiday season, filled with good health and happiness this new year!
The IRS has extended tax relief to the victims of Hurricane Ida in six states from until February 15, 2022 to file various individual and business tax returns and make tax payments. Accordingly, the updated relief covers the entire states of Louisiana and Mississippi, as well as parts of New York, New Jersey, Connecticut and Read More…
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