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 intended to address and guard against money laundering, terrorism financing, and other forms of illegal financing by mandating certain entities (primarily small and medium size businesses) to report “beneficial owner” information to the Financial Crimes Enforcement Network (“FinCEN”). The CTA authorizes FinCEN, a bureau of the U ..read more

Since 1978, the United States has recognized a week of recognition of Asian Americans and their contributions to the nation. In 2009, the government expanded this period to a monthlong celebration, encompassing all Asian American & Pacific Islander (AAPI) heritage. The official theme of AAPI Month in 2024 is “Advancing Leaders Through Innovation” according to the Federal Asian Pacific American Council (FAPAC). Innovation can come in many forms, ranging from the physical world of technology & industry to the abstract world of political philosophy & artistic expression. Asian Ameri ..read more

Nicholas S. Colanzi, Jr., Commercial Services Partner | A successful business relies on maintaining proper financial management. Without a solid financial foundation, it is impossible to measure the success and future of your funeral home. For many funeral directors, wearing your “business hat” can be difficult when serving grieving families, but preserving consistent financial stability is crucial to the success of your business. From working with an accountant to simple cash flow management practices, here are five best practices for managing your funeral home’s finances. Hire An Accountan ..read more

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 hours in a plan year were typically not eligible to participate in an employer retirement plan; thus, excluding most part-time workers. Since the original SECURE Act was passed, legislators have expanded the coverage to include new provisions that have recently taken effect. Whether you own a business that hires part-tim ..read more

Bowman & Company LLP is proud to announce that we have been selected “Company of the Year” in 2024 by the National Association of Women Business Owners’ (NAWBO) South Jersey Chapter. We congratulate the winners of several other honoree categories and commend all nominees for this year’s awards on their tremendous value to South Jersey. Bowman is thrilled to be recognized for something we care about so passionately; this women’s history month, we want women in our community to see Bowman as an example of positive local influence in industry representation. Since 1975, the NAWBO has expand ..read more

Unfortunately, it isn’t enough to just have specialized skills; it takes a lot of careful planning, organization, and legal compliance to start a commercial business. There are a lot of factors at play that should determine how your business should be structured, and it’s important to set up your business entity in a way that benefits you the most. The steps to achieving this are not clear & obvious to most people who do not work in professional service industries. This is why accountants can make an entrepreneur’s life much easier. Complex decisions can be explained and simplified, and ..read more

Today is special day where people all over the world celebrate the ones they love most. Every time you see the shape of a heart today, remember that there’s more to this time of year than Valentine’s Day; the American Heart Association (AHA) recognizes this month as “American Heart Month”. Through health education, you and your loved ones can all live safer. After all, knowing the facts about heart health can even save a life during a medical emergency. To bring awareness to this cause, Bowman & Company LLP’s Voorhees office continues its tradition of lighting the exterior in red for the ..read more

Whether you’ve heard of the New Jersey Society of Certified Public Accountants (NJCPA) or not, it has probably affected something in your life as a New Jersey resident. Most accountants in the state are members; all Bowman & Company LLP personnel with their CPA license are members of the NJCPA, many of whom serve or have served in leadership roles including three past Presidents. Our history of involvement with the NJCPA has created lasting relationships which we value in the highest regard. For this reason, we are thrilled to have recently welcomed Aiysha (AJ) Johnson, the CEO and Execu ..read more

  This year, the U.S. Department of Health and Human Services (HHS) and the Office of Minority Health (OMH) is celebrating Black History Month by acknowledging the role Black and African Americans have historically played in enhancing the health and well-being of all Americans and highlighting health equity promoting policies, programs, and practices focused on addressing the health disparities that affect this population (Link). African American recognition and visibility in the arts are improving as the years go by, and rightfully so. However, the professional services industry faces ..read more

Accountants typically spend most of their time pouring through balance sheets, financial statements, and ledgers. On the surface, it doesn’t sound very festive in any traditional sense. However, during the holiday season, Bowman & Company LLP staff lend their time & talents to a very special cause: auditing Santa’s “Nice List” and toy inventory! Thanks to the generosity of dozens of our team members, a large number of toys were donated to a local branch of Toys for Tots, a national nonprofit organization helping families in need during the holidays. Bowman & Company LLP services ..read more