Tag Archives: NJ

CONGRATULATIONS ALEX KLEINERT ON MBA

Congratulations to Alexander P. Kleinert, Staff Accountant at BKC, CPAs, on earning his Master of Business Administration from Shippensburg University of Pennsylvania.  Alex previously received his Bachelor of Science in Business Administration, Major Accounting from Shippensburg and has been with BKC since 2020.  Read more BKC Firm News here. Learn more about Careers at BKC, Read More…

HOW TO ENSURE YOUR FUNCTIONAL EXPENSE ANALYSIS ACCURATELY DEPICTS YOUR ACTIVITIES

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…

CONGRATULATIONS TO LAURA ATWELL ON BECOMING A REGISTERED MUNICIPAL ACCOUNTANT

Congratulations to Laura Atwell, CPA, RMA, PSA, Manager in our Governmental Entity Group, for becoming a Registered Municipal Accountant! We are proud to have her on our BKC Team!   This certification is issued from the New Jersey State Board of Accountancy and requires extensive knowledge of governmental accounting & auditing practices, rules, regulations, and passing Read More…

NEW BILL IS A BIG WIN FOR NEW JERSEY NON-PROFITS

This week New Jersey non-profits received some welcome financial relief.  On January 18, 2022, Governor Phil Murphy signed legislation raising the State’s audit threshold for non-profits from $500,0000 to $1,000,000 in gross revenues. In addition, the new legislation allows non-profits to exclude from gross revenues the value of in-kind donations that are directly related to Read More…

TERMINATION OF THE EMPLOYEE RETENTION CREDIT

The Infrastructure Investment and Jobs Act (P.L. 117-58), enacted on November 15, 2021, retroactively terminated the Employee Retention Credit (ERC) for the fourth quarter of 2021. This early termination does not apply if the employer is a recovery startup business, the credit continues to apply to wages paid before January 1, 2022. A “recovery start-up Read More…

BKC, CPAS, PC EXPANDS WITH MERGER OF HODAKOWSKI & HODAKOWSKI, CPAS

We are very pleased to announce the expansion of BKC, CPAs, PC with the merger of Hodakowski & Hodakowski CPA’s.  The combined firm will continue as BKC, CPAs, PC with offices in Flemington and Woodstown, NJ. Hodakowski & Hodakowski, CPAs is an established Flemington, NJ based accounting firm, serving clients for over 50 years. BKC and Hodakowski Read More…