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…
On June 16, 2021, Douglas Hilgenberg, CPA, MBA of BKC, CPAs, PC graduated as part of Leadership Hunterdon’s Class of 2020-21. Leadership Hunterdon is a program sponsored by the Hunterdon County Chamber of Commerce. The goal of the program is to help participants become trustees of their communities and become leadership resources. Since 2012, the program Read More…
The New Jersey Division of Taxation (Division) on June 3, 2021 unveiled a new combined reporting initiative, designed to help companies voluntarily comply with their historic separate-company return filing requirements for periods prior to 2019. The initiative will run from June 15, 2021 to October 15, 2021. Background on New Jersey Filing Requirements New Jersey Read More…
The choice of entity is among the most important decisions facing business owners when starting a business or investment activity. The choice of tax entity generally includes a C-Corporation, S-Corporation or Partnership, each having its own advantages and disadvantages that must be evaluated in terms of how the entity’s tax and legal characteristics align with Read More…
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…
Employee benefit plan sponsors need to begin preparing for the adoption of Statement on Auditing Standards No. 136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA (Employee Retirement Income Security Act of 1974). This auditing standard was enacted by the American Institute of Certified Public Accountants (AICPA), Read More…
Spoiler alert: If it isn’t already, cybersecurity should likely be on your board agenda at every meeting. BDO recently hosted directors and subject matter experts at a regional board roundtables to learn, mentor and network among peers on the topic of ransomware. Here are the top five takeaways from those recent discussions: Increased Risk The global COVID pandemic has created an environment Read More…
The U.S. Senate passed legislation (PPP Extension Act of 2021) on March 25, 2021 that provides a 60-day extension for eligible employers to apply for a Paycheck Protection Program (PPP) loan. The House of Representatives approved the legislation on March 16, 2021. The application deadline was set to expire on March 31, 2021, but now Read More…
The manufacturing industry alone claims annual R&D tax credits in excess of $7.4 billion. Innovation is driving the manufacturing industry, and the objective of R&D tax credits is to encourage exactly the type of efforts that are at the core of Industry 4.0. You don’t have to be developing new products or engineering brand new Read More…
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…
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