On July 21, 2023, New Jersey enacted a “Convenience of Employer” rule that is retroactively effective as of January 1, 2023. The new law will apply to nonresidents who have compensation from a “New Jersey employer” unless such services are required by the employer to be performed outside of New Jersey. The new Convenience of Read More…
BKC, CPAs, PC is pleased to announce that Tina Peckman, SHRM-SCP has joined the firm as Human Resources Director. Tina’s responsibilities encompass employee relations and benefits administration, including firm culture, DEI strategy, policies, programs and compliance, as well as talent management. Prior to joining BKC, Tina served as Senior Director at ExtensisHR leading a team Read More…
We have all heard of the Great Resignation, a term coined to describe the millions of employees that left their jobs since the onset of the COVID pandemic in 2020. Many employees who moved on to another job are having second thoughts about their decision – a new phenomenon that is being referred to as Read More…
President Biden signed the Inflation Reduction Act into law at a White House ceremony on August 16, finalizing a legislation intended to address inflation by paying down the national debt, lower consumer energy costs, provide incentives for the production of clean energy, and reduce healthcare costs. The bill moved through the legislative process in near-record Read More…
Happy World Cultural Diversity Day! Thank you to all our staff who participated in our potluck lunch today.
By: Amy Guerra, CPA The financial statement presentation for not-for-profit entities (NFP) experienced an overhaul with Accounting Standards Update (ASU) 2016-14, “Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities.” Prior to the ASU, only voluntary health and welfare organizations had a requirement to include the statement of functional expenses as part of Read More…
At BKC, the wellness of our employees is first and foremost. Big thanks to Martin & Michelle of Main Street Massage Therapy for bringing some greatly appreciated stress relief to our hard working professionals this tax season! #bkccpas #bkcbrand #bkccares #corporatewellness
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…
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…
The disruptions caused by the COVID-19 pandemic have driven significant losses for many businesses, causing some to permanently close. Owners of these and other distressed businesses should consider whether they are eligible for a deduction attributable to an investment in worthless stock. Generally, if the stock is a capital asset and becomes wholly worthless during Read More…
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