The New Jersey Department of Education (NJDOE) announced funding for Preschool Expansion Aid (PEA) programs for the 2023-2024 school year. The program is aimed to offer high-quality preschool programs and create opportunities for young students. A total of 26 additional school districts are now also receiving funds for the PEA program, of which 7 are Read More…
On July 3, 2023, New Jersey Gov. Phil Murphy signed budget bill A.B. 5323, altering several aspects of the state’s corporation business tax (CBT) regime. Among many other changes, the bill imposes an economic nexus threshold for CBT purposes, switches the state’s combined reporting sales factor sourcing method from “Joyce” to “Finnigan,” treats global intangible Read More…
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 has been ranked one of the Top 500 Public Accounting Firms in the Nation! INSIDE Public Accounting (IPA) is a leader in practice management resources for the public accounting profession. IPA has assisted firms across North America to grow and thrive since 1987. The one-of-a-kind IPA 500, recognizes the top U.S. based Read More…
It may seem that there will always be time to address estate planning. However, a unique opportunity to maximize the amount of wealth that can be tax-efficiently passed to heirs will expire at the end of 2025. Furthermore, legislation could curb lifetime exemption limits even sooner. The opportunity is even more pressing because the current Read More…
Last week, in appreciation of National “Pi” Day, our number loving accountants relieved some tax season tension at BKC’s Pi-a-Partner Day! The firm’s partners were such good sports, providing lots of laughs, a fun happy hour, and of course, some delicious pie! Money raised through BKC’s Pi-a-Partner Day was donated to the National Multiple Sclerosis Read More…
The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and construction industry. The legislation could provide a significant financial boost for firms looking to utilize environmentally conscious Read More…
Here at BKC, we celebrated Valentine’s Day with a Make Your Own Bouquet Flower Bar, along with Employee Appreciation Hearts! Each heart had an employee’s name, and staff wrote their favorite qualities, complimenting each other. Assembled together this reminded us all, what an incredible team we have here at BKC! Wishing you and yours a Read More…
And how you can prepare to capture the opportunities it presents. The CHIPS for America Act is poised to provide significant opportunities for semiconductor organizations. Additional guidance from the Departments of Commerce and Defense is needed around the application process for the program, but there are steps semiconductor organizations can take now to prepare. Below Read More…
Recent years have seen a surplus of headlines forecasting and preparing for a post-2020 work environment. In 2022, companies are still facing COVID-19 concerns, and the reality is that professional services firms face new and continued challenges that include navigating the tax implications of various work arrangements and attracting and retaining talent amid shifting labor Read More…
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