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Nonprofit organizations that operate under Section 501(c) of the Internal Revenue Code enjoy significant benefits, including exemption from federal income tax and the ability to receive tax-deductible donations. However, these privileges come with...
Since its passage and signing, the One Big Beautiful Bill Act (OBBBA) will have an impact on many businesses moving forward. Some of the most impactful provisions will affect depreciation, R&D, and other deductions. Although this legislation deals with much more...
Over the last two decades, Bowman & Company LLP has been a proud sponsor of the Camden Schools Foundation (CSF). We believe in the Foundation’s mission, the potential of the Camden youth, and that every child deserves an opportunity to pursue goals in their...
Any chance of a domestic mandate for Beneficial Ownership Interest Reporting (BOIR) may have ended this week, as the US Treasury Department recently issued a statement that it will no longer be enforced for domestic companies, regardless of the deadlines agreed upon...
Small business owners are used to wearing many hats. When you don’t have the resources of a big company, you wind up having to learn many different skills to keep the business alive & growing. Unfortunately, tax codes aren’t something that you can just pick up...
The New Jersey Society of Certified Public Accountants (NJCPA) is a professional organization of accountants from thousands of firms and service industries. They are the preeminent resource for accounting education and networking, with leadership comprised of the most...
The Partners of Bowman & Company LLP have elected three staff to join the Partnership group in July 2024. Pictured from left to right are Kenneth M. Drewes, CPA, RMA, PSA, CMFO of the Governmental Services Department, Michael J. Thilker, CPA, CITP of the...
The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act. The CTA is...
Christina Barry, Commercial Services Associate | The SECURE Act, passed in December of 2019, provided many part-time workers the opportunity to participate in an employer retirement plan. Before the SECURE Act had been passed, employees who worked fewer than 1,000...
World Autism Awareness Day is observed annually on April 2nd. Thankfully, our medical understanding of autism spectrum disorder (ASD) is constantly improving. However, educating the public on these scientific breakthroughs is difficult. Given the scope and complexity...