MARCH BULLETIN & CLIENT LINE
Date to Remember March 17th2024 Tax Return Form-1065, U.S. Partnerships and Form-1120S – U.S. S-Corporations for calendar year and calendar year foreign corporations with offices in the United States must be filed by March 17, 2025. If you are unable to file, an extension of time can be granted by filing Form 7004, Application for […]
Tax Relief for Natural Disaster Victims
The Federal Disaster Tax Relief Act of 2023 (H.R. 5863) was signed into law on December 12, 2024, by President Biden. The Act can benefit individual taxpayers affected by federally declared disasters that began between December 28, 2019 and December 12, 2024, and ended no later than January 11, 2025. The Act allows individual taxpayers […]
ANOTHER QUICKBOOKS FRAUD SCHEME
Recently we posted a piece about QuickBooks Online users having their data stolen and held for ransom. Since then, a new fraud scheme has gained popularity in the form of crooks impersonating Intuit (QuickBooks) representatives with malicious intent. What the impersonators are doing: Remember, the QuickBooks support team will NEVER reach out to you unless […]
February Bulletin
New Employee We are happy to announce that Dan Meuleners has joined the firm as a Staff Accountant. Dan is a graduate of Souderton High School and Penn State University where he earned a degree in Finance. After graduating from PSU, Dan spent 6 years in Turkey serving as a missionary. He currently resides with […]
QuickBooks Online Fraud Alert
Alert for QuickBooks Online users! Business owners using QuickBooks Online have been the recent target of internet fraudsters. To date, a myriad of cases have been reported, where scammers are commandeering user data and holding it for significant monetary ransom. Nearly all of these instances could have been avoided with strong cyber security measures. Here […]
Pennsylvania Annual Reports – NEW IN 2025
Starting in 2025, all businesses operating in Pennsylvania will be required to file an Annual Report with the Department of State. This mandate includes self-employed individuals and Not for Profit Organizations. Businesses required to file should receive a postcard from the State reminding them of the new mandate – please do not discard this as […]
1099 Reporting
Reminder for ALL business owners – the due date to file Form 1099-NEC is January 31, 2025. 1099-NEC’s MUST be prepared and furnished to any non-incorporated vendor who rendered services in 2024 totaling $600 or more. If you would like BSC’s assistance with preparation, please provide the following information to us as soon as possible […]
Press Release
Baum, Smith & Clemens, LLP is pleased to announce that Jennifer L. Landis, CPA has been named Co-Managing Partner of the Harleysville based Certified Public Accounting and Business Advisory Firm as of January 1, 2025. Jennifer will join current Managing Partner Gary T. Schultz, CPA to oversee the firms’ overall operations and direction. This transition […]
BOI REPORTING UPDATE
Over the last few weeks, the Beneficial Ownership Information (BOI) Reporting enforcement was temporarily halted, reinstated and then halted again. The courts have settled on a decision to schedule an appeal hearing for the BOI Reporting requirement for March 25th, 2025. At this time, we will not speculate on the anticipated outcome of this hearing, […]
January Bulletin
Happy New Year! Welcome to 2025! Thank you for your continued support of our firm and for the relationships that we have formed over the years. We know it’s only January, but never too early to schedule a meeting to have your tax return prepared. Our accountants are ready and eager to meet with you […]
