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…
Congress expanded the Paycheck Protection Program (PPP) established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act with the passage of the Consolidated Appropriations Act on December 27, 2020. The Consolidated Appropriations Act also clarifies the deductibility of certain expenses paid for with funds from a loan under PPP and tax impact on income Read More…
On April 14th Governor Murphy signed into law a bill that provides New Jersey taxpayers a three-month extension to pay and file their state individual gross income, partnership, and corporation business taxes. According to the office of New Jersey Governor Phil Murphy, the New Jersey income tax deadline will now be July 15, 2020 to Read More…
Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2020 if you’re enrolled in Original Medicare Part A and Part B. Medicare Part B premiums According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits Read More…
New Jersey is now the second state in the country requiring individual health insurance for residents. On May 30, 2018, Gov. Phil Murphy signed into law a bill (A3380 – New Jersey Health Insurance Market Preservation Act) that will require all New Jersey residents to have health coverage or pay a penalty, making the state Read More…
As a result of the government shutdown, at mid-night on February 8, 2018, Congress passed, and the President signed, the Bipartisan Budget Act of 2018, on February 9th. Congress included several tax extenders as part of the Budget Deal, which had previously expired at the end of 2016. The Bipartisan Budget Act of 2018 consists Read More…
On Thursday, November 16, the US House of Representatives passed the Republican crafted tax reform bill by a 227 – 205 vote. That same day, the Senate Finance Committee approved its version of the Tax Cuts and Jobs Act, sending the bill to the full Senate for debate and a vote. The Senate is expected Read More…
On November 2, House Republicans unveiled their much-anticipated tax reform legislation, the Tax Cuts and Jobs Act (HR 1). The legislation seeks to dramatically cut taxes on corporations and consolidate benefits like personal exemptions, the standard deduction, and the child credit for individuals. It would eliminate the alternative minimum tax and estate tax, and Read More…
39 State Route 12, Suite 2, Flemington, NJ 08822 (908) 782-7900 Fax: (908) 782-4328
34 East Avenue, Woodstown, NJ 08098 (856) 769-0707 Fax: (856) 769-4657 info@bkc-cpa.com
© BKC, CPAs, PC. All rights reserved. 2023
