blog | Bowman & Company, LLP | Professional Services

Two Education Credits Help Taxpayers with College Costs

Posted by Bowman & Co on Oct 11, 2019 2:00:00 PM
Two Education Credits Help Taxpayers with College Costs

With school back in session, parents and students should look into tax credits that can help with the cost of higher education. They do this by reducing the amount of tax someone owes on their tax return. If the credit reduces tax to less than zero, the taxpayer may get a refund.

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

Affording Retirement Is Greatest Financial Concern of NJ Residents

Posted by Bowman & Co on Sep 12, 2019 11:00:00 AM
Affording Retirement Is Greatest Financial Concern of NJ Residents

Affording retirement is the most significant financial concern of New Jersey residents. That’s the key finding from the recent Kearny Bank Personal Finances Poll, an online survey conducted recently by Fairfield-based Kearny Bank.

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

NJCPA Reminds to Check Tax Withholding Amid IRS Form W-4 Changes

Posted by Bowman & Co on Sep 5, 2019 11:00:00 AM
NJCPA Reminds to Check Tax Withholding Amid IRS Form W-4 Changes

The New Jersey Society of Certified Public Accountants (NJCPA) reminds taxpayers to review their current federal income tax withholding from their paychecks, particularly as the IRS is issuing a new Employee’s Withholding Allowance Certificate (Form W-4). The IRS issued a draft 2020 Form W-4 in May and expects to issue a final version in November.

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

Give Yourself a Mid-Year Financial Check Up

Posted by Bowman & Co on Aug 29, 2019 11:00:00 AM
Give Yourself a Mid-Year Financial Check Up

It may seem like we just rang in the New Year, but 2019 is already half over. You may have set some financial resolutions for the year or have some money goals you wanted to accomplish. By staying on top of your financial situation and reviewing where you stand at least twice a year, you’ll have a better handle on where your money is going. This means that you can refocus your saving and spending on what matters the most to you and understand places where you can cut back.

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

Improving Your Credit is a Smart Financial Goal

Posted by Bowman & Co on Aug 22, 2019 11:00:00 AM
Improving Your Credit is a Smart Financial Goal
All decisions have consequences. And one way that we feel the consequences of our financial decisions is through our credit score and credit report. While many people are likely familiar with the terms, how they are calculated and what can be done to improve them is not widely understood. However, small improvements in a credit score and a clean, accurate report can have a big impact on your ability to borrow money at a low interest rate. Here is a breakdown of what you should know about your credit score and credit report.
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Topics: Government Entities, Not-for-Profits, For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare, Federal Services

Common Questions about Kids and Taxes

Posted by Bowman & Co on Aug 16, 2019 11:00:00 AM
Common Questions about Kids and Taxes

Does your son or daughter work during the summer or school year? A part-time job can be a great way for your child to learn about financial responsibility. It can also teach a valuable lesson about owing taxes. In addition to explaining why the government takes money from kids' paychecks, parents may need to help their children file their taxes by April 15.

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

Changing Jobs? What Will Become of Your 401(k) Balance?

Posted by Bowman & Co on Aug 9, 2019 11:00:00 AM
Changing Jobs? What Will Become of Your 401(k) Balance?

Most private sector employers, for better or worse, put you in the driver's seat when it comes to saving for retirement. If you're a genuinely savvy and diligent investor, you might prefer the flexibility of rolling over your accumulated retirement savings into an IRA. This choice assumes, however, that your next employer's 401(k) plan allows you to move money into it from another 401(k) plan. Most, but not all, do.

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

Update on the New Business Interest Expense Limitation

Posted by Bowman & Co on Aug 2, 2019 11:45:00 AM
Update on the New Business Interest Expense Limitation

The Tax Cuts and Jobs Act (TCJA) imposes a new limitation on deductions for business interest expense. The IRS recently issued guidance in the form of proposed regulations. The business interest expense limitation is a permanent change for tax years that began in 2018. Thankfully, many businesses are unaffected. Here's what you need to know.

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Topics: For-Profit Entities, Funeral Homes, Construction, Professional Services, Healthcare

Retired Bowman Partner Honored by AICPA

Posted by Bowman & Co on Jul 29, 2019 4:15:26 PM
Retired Bowman Partner Honored by AICPA

We are proud to announce that retired Bowman & Company LLP Partner John "Jack" F. Dailey Jr., CPA, was presented with the American Institute of Certified Public Accountants' (AICPA's) Special Recognition Award for his influence, commitment, and length of service to the CPA profession.

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

Financial Tips for Newly Married Couples

Posted by Bowman & Co on Jul 16, 2019 10:35:00 AM
Financial Tips for Newly Married Couples

In the United States, June marks the start of a peak wedding season that runs through the early fall. All across the country happy couples are discussing their seating charts, selecting a song for their first dance and planning their honeymoons. But there is one conversation that they cannot afford to forget – how they will manage their finances once they become legally married. As the big day approaches, here are some tips to make sure money issues don’t get in the way of happily ever after.

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