BLS Insights

Discover the depth of BLS knowledge and information.

Year: 2016

What the New Reporting Regulations Mean to Foreign Owners of US LLC’s

December 22, 2016

By now, you’re probably familiar with FATCA… similar to the OECD’s Common Reporting Standards (CRS),

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Education Costs: Using them for your benefit

December 14, 2016

Sending yourself, your spouse or one of your children to college can be very expensive. Having to pay for books, tuition, meal plans and housing can take a toll on bank accounts.

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$50,000 Gross Receipts Test

December 05, 2016

The IRS states that if an organization normally has gross receipts of $50,000 or less, it may submit the Form 990-N.

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New Jersey/Pennsylvania Reciprocal Tax Agreement Will Continue

November 28, 2016

On November 22, 2016, NJ Governor Christie announced he has opted to keep the NJ/PA reciprocal tax agreement in place.

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Gifts from Donor-Advised Funds

October 27, 2016

Contributions are a large source of revenue for many nonprofits. When your nonprofit organization receives a charitable contribution, we know you want to thank the donor as soon as possible and send them an acknowledgment letter. Before you mail out that letter, consider the following facts about gifts from donor-advised funds.

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Tax Considerations Regarding Crowdfunding

October 12, 2016

Crowdfunding has increasingly gained popularity among entrepreneurs as more individuals and businesses comprehend the value derived from an early introduction of their products to the market.

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Death and Taxes

October 06, 2016

As Benjamin Franklin once said, “Nothing is certain but death and taxes” so it makes sense to discuss how these two issues are intertwined with each other.

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Ugh… Not You Again! – Rethinking Your Relationship with Auditors

October 05, 2016

Once a year, a group of awkward auditors sets up camp in your conference room, robbing you and your coworkers of your usual lunch spot to create what looks more like an obstacle course than an office space with our tapestry of wires and clunky equipment.

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Using the Installment Sale Method to Reduce Your Tax Liability

September 27, 2016

Making a profit when selling a piece of property should be a really good thing.

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BLS Update: New Jersey Governor Christie Announces End of PA/NJ Reciprocity Agreement

September 21, 2016

On September 5, 2016, New Jersey Governor Chris Christie announced that, effective 1/1/2017, New Jersey is unilaterally terminating the state’s reciprocity agreement with Pennsylvania.

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Need Additional Information?

If you need more information, please contact us so we can connect you with one of our CPA advisors who will be committed to your business and personal success. BLS is here to help!