On June 28, 2024, Governor Murphy signed the Fiscal Year 2025 Budget. A few highlights in the $56.7 billion budget include: Corporate Transit Fee (CTF) which is a 2.5% tax on corporations with over $10 Million in profits. This new tax is retroactive to January 1, 2024 and is intended to provide funding for NJ Read More…
On Monday, February 12, 2024, the Department of the Treasury’s Division of Taxation began mailing applications for the 2023 Senior Freeze Property Tax Reimbursement program, which has been significantly expanded for the 2023 filing season to increase the income eligibility limit substantially and simplify residency requirement for new applicants. The deadline to file 2023 applications Read More…
On January 18, 2022, Governor Murphy signed legislation to rectify the issues related to New Jersey’s Business Alternative Income Tax (BAIT) regulations. The legislation becomes effective as of January 1, 2022. The major changes to the BAIT, which were included in the legislation are as follows: A modification was made to include more income that Read More…
Click to Read the Full Articles from our New Year 2019 Tax Planning Letter. Including: What’s New in 2019, Will These New Changes Alter Your 2019 Tax Plan, Top 3 Tax Moves, and Its Time to Create Your Succession Plan .
BKC experts will be presenting in a six part business education series through the Hunterdon County Chamber Foundation Unity Bank Center for Business & Entrepreneurship starting January 23, 2019. The series includes assorted topics such as tax, fraud and business strategy from the top professionals at BKC each with . Registration is open for individual sessions at $60 or at Read More…
When an individual or a business incurs either a casualty or theft loss, questions often arise as to the deductibility of the loss, on their tax return. A casualty loss occurs when property is damaged, destroyed, or lost from any unexpected or sudden event, such as a fire or hurriane. A casualty loss does not Read More…
On September 2nd, New Jersey Governor Chris Christie signed an executive order, which would be effective on January 1, 2017, ending the Wage Reciprocity Agreement between New Jersey and Pennsylvania. At this time, the executive order is not law, but it is expected to be enacted as law. If enacted, the executive order means that Read More…
Just before recessing for the holidays, the House and Senate passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The Act does considerably more than the typical tax extenders legislation seen in prior years; it makes permanent over 20 key tax provisions, including the research tax credit, enhanced Code Sec. 179 expensing, 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
