THANK YOU VETERANS
BKC is collecting items to ship to our Troops to make them feel more at home and appreciated, through November 30, 2023 and Operation Jersey Cares.
Tag Archives: accountant
HAPPY HALLOWEEN
Happy Halloween from everyone at BKC, CPAs! The team here celebrated with some fun friendly competitions for best costumes & best decorating! Read more firm news here. Interested in joining the BKC Team! Learn more here.
CAN PARTNERS’ ARM’S LENGTH AGREEMENTS ON VALUATION SURVIVE IRS SCRUTINY?
In a recent Tax Court case, the IRS attempted — unsuccessfully — to supplant the fair market value agreed to by unrelated parties in a partnership transaction with its expert’s higher estimate, asserting that the taxpayer received a taxable capital interest in exchange for services provided to a partnership, not a nontaxable profits interest. If Read More…
INFLATION REDUCTION ACT: COSTS & BENEFITS FOR REAL ESTATE & CONSTRUCTION
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…
WHAT SEMICONDUCTOR ORGANIZATIONS NEED TO KNOW ABOUT THE CHIPS FOR AMERICA ACT
And how you can prepare to capture the opportunities it presents. The CHIPS for America Act is poised to provide significant opportunities for semiconductor organizations. Additional guidance from the Departments of Commerce and Defense is needed around the application process for the program, but there are steps semiconductor organizations can take now to prepare. Below Read More…
TODAY’S PROFESSIONAL SERVICES INDUSTRY PRIORITIZES ITS PROFESSIONALS
Recent years have seen a surplus of headlines forecasting and preparing for a post-2020 work environment. In 2022, companies are still facing COVID-19 concerns, and the reality is that professional services firms face new and continued challenges that include navigating the tax implications of various work arrangements and attracting and retaining talent amid shifting labor Read More…
FEMA INCREASES SMALL PROJECT MAXIMUM TO $1M
What are the benefits and risks? On August 3, FEMA implemented a regulatory change to increase the small project maximum in the Public Assistance (PA) program to $1 million from $139,800. The increase aims to simplify the application process and reduce the administrative burden on nonprofits and government entities that receive a FEMA grant following Read More…
THE STAKEHOLDER VALUE MANDATE
From stakeholder buy-in to supply-chain transparency and beyond, companies across the globe face a variety of challenges when developing and implementing ESG (environmental, social, and governance) strategies. But this has not deterred CEOs from incorporating ESG principles into their core business strategy, embracing corporate visions that: Deliver long-term value for all stakeholders; Contribute to the betterment of Read More…
BKC EMPLOYEES BEAT THE HEAT
BKC Employees Break the Heatwave, Channeling Cool Vibes with Frozen Hot Chocolates, Festive Fruit Salad & Other Treats for “Christmas in July”! #bkccpas #beattheheat #christmasinjuly #bestplacestowork2022 #bkcwealth Read more BKC Firm News here. Explore Career Opportunities with BKC here.
PENNSYLVANIA CHANGE TO IRC SECTION 179 DEDUCTION & IRC SEC 1031 LIKE-KIND EXCHANGES
Pennsylvania Personal Income Tax has made updates to their provisions regarding IRC Sec 179 expense deduction and IRC Sec 1031 Like-Kind Exchanges. These changes will be applicable for property placed in service and like-kind exchange transactions occurring after December 31, 2022. What is the change to the Sec 179 expense deduction? Currently Pennsylvania limits the Read More…
