Nine Basic Rules of Building a Nest Egg

Building a nest egg to give you a secure financial future doesn’t require a degree in economics, just a degree of common sense. The rules are easy and time-tested, and the smart players always abide by them. 1. It’s never too late or too early to start. Think back five or ten years and say […]

Tax planning is good for corporations too

If you own a calendar-year corporation, you can benefit from planning moves you make before December 31.  For example, corporations can accelerate or defer income or deductions to stay within a certain tax bracket.  You’ll also want to look at your corporate alternative minimum tax exposure to determine whether you qualify for an exception to […]

Business Tip: Don’t sell property; exchange it

A tax-deferred exchange is a tax planning technique which should be considered by any taxpayer that is relocating or disposing of property.  Often referred to as a “tax-free exchange,” the tax-deferred exchange allows you to exchange certain business or investment property for other “like-kind” business or investment property and pay no income taxes currently.  Your […]

Business Accounting Systems, P.C. named 2015 Best of Biz

Business Accounting Systems, P.C. has been named to the 100 best in South Jersey Business List by South Jersey Biz Magazine, 2015.   The specialty to which we have been named this time is Bookkeeping.  In 2014, we were named to the list for our Payroll Services.  We are proud and thankful for the nomination […]

Accurate inventory numbers are crucial for your business

For many companies, inventory is a significant dollar amount on the company’s financial statements.  So it’s crucial that recorded inventory balances reflect actual values.  When such accounts aren’t properly stated, the cost of goods sold and current ratios – numbers that often matter to decision makers – may be skewed.  If banks discover that your […]

Business survey identifies taxes as biggest burden

In a survey of small businesses conducted by the National Small Business Association, 59% of respondents said taxes were more of an administrative burden than a financial one.  Most businesses put payroll taxes at the top of the list of taxes with the greatest administrative burden.  Payroll taxes also outranked other taxes, such as income, […]

Congress retroactively extends tax breaks for your 2014 Tax Return

In its final session of the year, Congress extended a long list of tax breaks that had expired, retroactive to the beginning of 2014.  But the reprieve is only temporary.   The extensions granted in the Tax Increase Prevention Act of 2014 remain in effect through December 31, 2014.  For these tax breaks to survive beyond […]

Welcome to our Business Accounting Systems, PC blog!

We’re excited to announce the official launch of our Business Accounting Systems, PC blog. We’ll be posting helpful news from the financial industry, updates from our practice, and more about the latest in keeping your personal and business finances in the best shape possible. We built our practice on the notion that we’re there for our […]