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…
We are proud to announce that BKC, CPAs, PC has been named one of the 2023 Best Places to Work in New Jersey by NJBIZ. View the full article here. NJBIZ Best Places to Work in NJ is an awards program dedicated to identifying and recognizing the state’s best employers and providing organizations with valuable 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…
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…
Pennsylvania Personal Income Tax has made updates to their provisions regarding IRC Sec 179 expense deduction and IRC Sec 1031 Like-Kind Exchanges. These changes will be applicable for property placed in service and like-kind exchange transactions occurring after December 31, 2022. What is the change to the Sec 179 expense deduction? Currently Pennsylvania limits the Read More…
Many nonprofit organizations were forced to shutter or temporarily close their operations under a governmental order as a result of the coronavirus pandemic, while others were forced to severely limit their offerings. One way to continue to pursue your organization’s objectives is to ensure that you are still able to function, even if only in a limited Read More…
Owners of many small business that are close to the border of other states, as is common in our home state of New Jersey, may not have to worry about paying taxes to other states. If all your work is being done in your home state, and business is just being conducted in your home Read More…
Programs Available Under the CARES Act From Main St. to Wall St., all businesses have been affected by COVID-19 in one way or another. Businesses that were considered to be essential service business were affected by employees being unable to work due to their need to care for their children, who were now home from Read More…
Congress Announced: Secretary Mnuchin Defers Tax Payments, Delivers Relief for Taxpayers & Small Businesses Because many families, businesses, and tax preparers may be unable to meet their tax obligations despite their best efforts, President Trump is allowing “the Treasury Department to defer tax payments, without interest or penalties, for certain individuals and businesses negatively impacted.”The Read More…
Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2020 if you’re enrolled in Original Medicare Part A and Part B. Medicare Part B premiums According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits Read More…
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