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Our Mission

We assist our clients in achieving their goals by providing the best tax, accounting and management advisory services and by contributing to the growth of our employees, our profession and our community while continuing to cultivate the personal relationships which represent the foundation of our progress.

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Testimonials

"We consider Baum, Smith & Clemens, LLP as our tax accountant, advisor and auditor; they have been a key element in our past successes.  We continue to value their advice and recommendations in meeting future challenges."


Donald R. Shepherd
President
AR Worldwide


EXCITING NEWS!!!

WE HAVE MOVED

We have moved to our new offices in Towamencin Township.  Our new location is: 2060 Detwiler Road, Suite 125, Harleysville, PA 19438 (opposite Dock Mennonite Academy and Living Branches Community).  Gary T. Schultz, our Managing Partner says, "This is an ideal time for us to relocate.  Our new space will enable us to keep up with the ever changing accounting profession and accommodate our clients more effectively and efficiently.  The building has been designed with advanced technology and green initiatives to better serve you, our clients."

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Passion is a word that can be used to describe the people who work at Baum, Smith & Clemens, LLP. They have a passion for their job and for helping all of their clients succeed in achieving their financial goals. They strive to present innovative services to help make the firm stand out from their competition and they have helped make BSC one of the most progressive firms in the Philadelphia suburbs. Whether it is traditional or non-traditional services, the zeal and enthusiasm they possess are second to none.

Integrity is another characteristic that distinguishes the BSC family from others. Leadership from the partner group has made this a priority for all BSC employees. Honesty and truthfulness have made them who and what they are today. They are straightforward in offering advice, planning ideas and preparing tax returns and financial statements. Values will not be compromised.

Combining passion and integrity results in providing BSC clients with superior service. Their proactive mentality can lead to positive results and financial success. Baum, Smith & Clemens are in a competitive business and need to be more than number crunchers for their clientele. They are here to help you when you need help. Passion, Integrity and Service; three qualities that make a difference.

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From Our Newsletters

Tax Alerts
Tax Briefing(s)

Charles P. "Chuck" Rettig was confirmed as the new IRS Commissioner on September 12. The Senate confirmed the nomination by a 64-to-33 vote. Rettig received both Democratic and Republican support.


New IRS guidance aiming to curb certain state and local tax (SALT) deduction cap "workarounds" is the latest "hot topic" tax debate on Capitol Hill. The IRS released proposed amendments to regulations, REG-112176-18, on August 23. The proposed rules would prevent taxpayers, effective August 27, 2018, from using certain charitable contributions to work around the new cap on SALT deductions.


The IRS has proposed to remove the Code Sec. 385 documentation regulations provided in Reg. §1.385-2. Although the proposed removal of the documentation rules will apply as of the date the proposed regulations are published as final in the Federal Register, taxpayers can rely on the proposed regulations until the final regulations are published.


Last year’s Tax Reform created a new 20-percent deduction of qualified business income for passthrough entities, subject to certain limitations. The Tax Cuts and Jobs Act (TCJA) ( P.L. 115-97) created the new Code Sec. 199A passthrough deduction for noncorporate taxpayers, effective for tax years beginning after December 31, 2017. However, the provision was enacted only temporarily through 2025. The controversial deduction has remained a buzzing topic of debate among lawmakers, tax policy experts, and stakeholders. In addition to its impermanence, the new passthrough deduction’s ambiguous statutory language has created many questions for taxpayers and practitioners.


Wolters Kluwer recently spoke with Joshua Wu, member, Clark Hill PLC, about the tax implications of the new Code Sec. 199A passthrough deduction and its recently-released proposed regulations, REG-107892-18. That exchange included a discussion of the impact that the new law and IRS guidance, both present and future, may have on taxpayers and tax practitioners.


Wolters Kluwer has projected annual inflation-adjusted amounts for tax year 2019. The projected amounts include 2019 tax brackets, the standard deduction, and alternative minimum tax amounts, among others. The projected amounts are based on Consumer Price Index figures released by the U.S. Department of Labor on September 12, 2018.