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…
In the face of the “Great Resignation” and rising inflation, organizations are taking a second look at the size of their salary increase budgets. For the last decade, budgets for merit increases have hovered around 3%. Now, salary increase budgets are on the rise to levels not seen in years, according to BDO’s first-quarter 2022 Read More…
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…
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…
During the New Jersey legislative Session on March 15, 2022, a last-minute change was made to the filing deadline. The original deadline to file the 2021 Forms PTE-100 Tax Return and the 2021-PTE-200-T Extension of Time to File was midnight on March 15, 2022. Under the new legislation passed, the deadlines were extended until June Read More…
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…
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…
BKC, CPAs, PC, a full-service accounting firm with offices in Flemington & Woodstown, New Jersey welcomes Shawn Fuller as a member of the firm’s Accounting Team. Shawn is a graduate of Centenary University with a Bachelor of Science in Business Administration and Management and is pursuing her Masters of Accounting at Rider University. Shawn has Read More…
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…
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