blog | Bowman & Company, LLP

Bowman & Company Celebrates 80 Years of Outstanding Client service

Posted by Bowman & Co on Jul 1, 2019 10:00:00 AM
Bowman & Company Celebrates 80 Years of Outstanding Client service

We are pleased to announce that 2019 is Bowman & Company LLP's 80th year in business.  From humble beginnings in 1939 to becoming one of the premier CPA firms in the Delaware Valley, we are proud to have helped develop countless local businesses, non-profits, and government entities.

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Topics: Press Releases, Events, #BowmanGivesBack

Bowman Participates in United Way 5K Run

Posted by Bowman & Co on Jun 24, 2019 3:09:18 PM
Bowman Participates in United Way 5K Run

On Saturday June 8th, several Bowman & Company staff members participated in United Way of Gloucester County's Annual 5K and 1-Mile Super Course.  On this bright, sunny Saturday morning, our team members ran the trails near River Winds Community Center with other locals for the benefit of United Way's community programs, including those targeted at fighting hunger, unemployment, and illiteracy. 

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Topics: Not-for-Profits, Events, #BowmanGivesBack

Bowman’s Robert E. Biddle Jr. Named Firm Manager of the Year by CPAFMA

Posted by Bowman & Co on Jun 21, 2019 9:47:10 AM
Bowman’s Robert E. Biddle Jr. Named Firm Manager of the Year by CPAFMA

Please join Bowman & Company in congratulating our very own Firm Administrator, Bob Biddle, as the 2019 recipient of the CPA Firm Management Association (CPAFMA) Firm Manager of the Year award.  This annual award has been awarded to some of North America’s most experienced and respected firm management professionals since its inception in 1989.

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Topics: Press Releases, Events, #BowmanGivesBack

Alert: You Need to Restate Your 403(b) Plan Before March 31, 2020

Posted by Michelle Gasiorowski, CPA, Senior Manager on Jun 17, 2019 10:18:32 AM
Alert: You Need to Restate Your 403(b) Plan Before March 31, 2020

If you have a 403(b) plan for your employees, you will have until March 31, 2020 to restate your plan, as per the IRS.

The IRS provided guidance related to the restatement of 403(b) plans. The agency began issuing approval letters to document providers for all 403(b) plans in early spring 2017. Once they have been issued, employers will be required to restate their 403(b) plans using pre-approved language.

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Topics: Government Entities, Not-for-Profits

Prepare to Receive a Social Security Administration No-Match Letter

Posted by Bowman & Co on Jun 14, 2019 10:20:00 AM
Prepare to Receive a Social Security Administration No-Match Letter

The SSA explains that it's seeking to reconcile discrepancies between the names and Social Security Numbers (SSNs) it has on file with the names and SSNs that employers report. The purpose isn't to support enforcement of immigration law, but rather to "properly post employees' earnings to the correct record." That's an important distinction because if you confused such a letter with, for example, a "tentative non-confirmation" red flag coming from the Department of Homeland Security's E-Verify system, you might unintentionally take an action that would get you into trouble.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare

Bowman Partner Speaks at the Southwest Jersey Chapter of NJCPA's

Posted by Bowman & Co on Jun 5, 2019 9:27:55 AM
Bowman Partner Speaks at the Southwest Jersey Chapter of NJCPA's

On Friday May 17, 2019  Partner, Glen Walton of Bowman & Company LLP presented at the Southwest Jersey Chapter of the New Jersey Society of Public Accountants' (NJCPA's) seminar at the Paris Caterers in Berlin NJ on the topic of Nonprofit and Board Responsibility / Accounting and Auditing Update.

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Topics: Speaking Engagements, Not-for-Profits, For-Profit Entities, Events

Picking the Right Retirement Plan (Part Three: Loans, Hardships, and Your Responsibilities)

Posted by Megan Dovie, CPA, Manager on May 28, 2019 10:30:00 AM
Picking the Right Retirement Plan (Part Three: Loans, Hardships, and Your Responsibilities)

Welcome to Part 3 of our series on retirement planning for your employees. Part 1 discussed the different types of retirement plans you can offer to your employees. Part 2 discussed the different types of eligibility requirements you can have in place for your plan and when your employees can begin to participate. This month we will briefly explore loans, hardships, timeliness of employee contribution transmittals, and what your responsibilities are if you have to terminate a plan.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

IRS Announces Changes for Personal Use of Employer-Provided Vehicles

Posted by Bowman & Co on May 24, 2019 2:00:00 PM
IRS Announces Changes for Personal Use of Employer-Provided Vehicles

The free use of a company car is one of the best perks an employee may receive as part of a compensation package. But the benefit to the employee isn't completely "free" under current tax law. Essentially, personal use of a company car is treated as a taxable noncash fringe benefit, subject to income tax obligations.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Picking the Right Retirement Plan (Part Two: Getting Employees Onboard)

Posted by Megan Dovie, CPA, Manager on May 24, 2019 11:30:00 AM
Picking the Right Retirement Plan (Part Two: Getting Employees Onboard)

Welcome to Part 2 of our series on retirement planning for your employees. Part 1 discussed the different types of retirement plans you can offer to your employees. This month we will look at when your employees become eligible and how to get them signed up for your plan.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Are You Categorizing your Employees and Contractors Correctly?

Posted by Maryann Holloway, CPA, RMA, PSA, Senior Manager on May 23, 2019 2:00:00 PM
Are You Categorizing your Employees and Contractors Correctly?

If you employ people in the state of New Jersey, one of your responsibilities is to contribute toward your employees’ unemployment compensation and state disability benefits funds under N.J.S.A. 43:21‐7. If you employ people as independent contractors, and report their earnings via Form 1099, you may think they are not employees and therefore, you do not have to contribute toward their unemployment and disability. You may very well be wrong.

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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services