781-337-8788 [email protected]

Retirement Cash Strategy

Did you know an extra IRA distribution could reduce the amount of your Social Security benefit?

It’s surprising but true. We explain how it can happen on our Tax Tips & News page.

Kids Turning 17?

There are many milestones and life changes that can affect your tax returns.
For instance, if you have a dependent child turning 17 this year, the $2,000 child
tax credit you have received previously will end.
It’s always a good idea to review your tax situation well in advance of the end
of the year to determine if there are any changes that may affect your return.
Feel free to contact us for an appointment.

Unreimbursed expenses?

Get out your wallet. Did you know that employees can no
longer deduct unreimbursed work-related expenses?  There are a few
job category exceptions, but you might want to see what’s been
eliminated before you enroll in that professional development course.
See our Tax Tips & News post for more.

The IRS didn't call you.

The truth is, the IRS will never call you to demand payment and threaten legal action, but this scam frightens people into giving their money to criminals.

Find out more about this and other IRS scams on our Tax Tips & News page.

Head of Household or Single filing status?

Many single parents can claim Head of Household and receive a much better
tax benefit by having a dependent child. However, when your child is no
longer your dependent your filing status changes to Single. Unfortunately,
that translates to a smaller Standard Deduction and higher income tax rates.
Let us know if you’d like to review your personal situation.

Have you checked out 360 yet?

We found this incredible website that we want to share with you!

360 Degrees of Financial Literacy features straightforward language and easy-to-use calculators for everything from student loans to retirement planning.

Excerpts from Our Tax Tips & News Pages

Sharing Sad News — Ed Greenlaw

It is with great sadness that we share the news of the recent passing of our long-time colleague and friend, Ed Greenlaw. Ed has been apart of the Business Bookkeeping Services family fro 37 years. We will miss his sense of humor, his dedication to his work, and the...

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Why Raiding Your IRA Can Be a Costly Mistake

With the global pandemic causing record-breaking job losses and wreaking havoc on our economy, it can be tempting to withdraw large amounts of cash from your IRA to have on hand. But before you raid your IRA at any time, we encourage you to think carefully about how...

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COVID-Related Scams: What to Look Out For

Cybercriminals see the pandemic as an opportunity Criminals are relentless in finding new ways to prey on people's fears during this pandemic. We urge you to be vigilant in questioning any texts, emails or offers that require you to click on links, fill out surveys,...

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BBS Summer Office Hours & Procedures

We remain hopeful that we will be able to welcome you back for in-person meetings before the end of the year, but for now, our small entry way and social distancing guidelines make that impossible. Below are some updates, as well as protocols we will be following...

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Only One Week Left! Tax Day is July 15th

Ordinarily, with extra staff during tax season we are able to reach out to clients personally during tax season to make sure we have everything we need. Unfortunately, we don't have the resources this year to contact clients individually, so we are asking everyone who...

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