The bill known as the Tax Cuts and Jobs Act, enacted in December 2017, added new Section 512(a)(7) to the Internal Revenue Code (IRC). This new section requires tax-exempt organizations to increase their unrelated business taxable income (UBTI) by the amount paid or incurred for qualified transportation fringe benefits (QTFs) provided to employees. For this Read More…
Surprises are rarely good. There are many different emotions that come with the experience of surprise: fear, anxiety, and joy—to name a few. Deals can also cause the same emotions for a deal maker. Perhaps the booked pipeline was stronger than expected or new management, while unproven in historical results, has the ability to create Read More…
Receiving a gift is not a taxable event to the one who receives the gift. If the gift is large enough, it could result in gift tax being due by the donor. In any case, you are not to report any gifts you receive on your income tax return. This is true whether the gift Read More…
BKC, CPAs, PC supports the 2018 TCS New York City Marathon with Team for Kids. Jennifer Kurowicki is participating and needs support for this inspiring mission. Team for Kids is a team of adult runners who raise critical funds for free New York Road Runners (NYRR) youth running programs, events, and resources, supporting 267,000 students 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. 2024
