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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


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)

Every four years, Congress returns to work after a summer recess and is overshadowed by the looming presidential election. This year is no exception with taxpayers and lawmakers focused on Election Day, November 8. In the meantime, however, lawmakers have almost two months to take up legislation left pending when they recessed in July. Included on their agenda are many tax-related bills, potentially impacting individuals, businesses and others.


The IRS launched new online resources for service providers and participants in the sharing economy. Advances in telecommunications have fueled the growth of the sharing economy. More and more consumers are connecting with service providers for shared car services, apartments and rooms for short-term rentals, and some employment opportunities.


The IRS has released draft forms for Affordable Care Act (ACA) reporting under Code Secs. 6055 and 6056 for tax year (TY) 2016. These draft forms reflect changes from the forms used for TY 2015 and will likely reflect what compliance under the final version will entail.


The IRS has issued temporary regulations (T.D. 9780) that explain how a partnership can opt in to the new partnership audit regime that was enacted in the Bipartisan Budget Act of 2015 (BBA). As enacted, the new audit rules will apply to partnership returns filed for tax years beginning after December 31, 2017. However, the new law allows partnerships to elect to apply the new audit regime to a return filed for a partnership tax year beginning after November 2, 2015 (the date of enactment of the BBA) and before January 1, 2018. A tax year within this period is identified as an “eligible tax year.”


The IRS announced in August new procedures for renewing an unused or expired Individual Tax Identification Number (ITIN). The new procedures are scheduled to take effect later this year and will impact 2016 federal individual income tax returns filed in 2017.


As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of September 2016.