BSB has a talented team of accounting professionals to build a solid financial foundation for a new business. We can also jump in and help in a “bookkeeping emergency” or clean up messy books to create meaningful financials or a tax return.


Our Client Accounting & Advisory Services (CAAS) team not only installs the right accounting software, but we also create a meaningful Chart of Accounts for your business. We know and understand the difference between a capital asset and an office expense, a shareholder loan versus a capital infusion (equity), and how to enter a complicated payroll journal entry.

Our CAAS team adheres to financial and accounting standards. We know who the end-user of the financial statements is and customize the reporting to their needs. For instance, do they need a product-line separated out? Do they need government-auditable books? These are the important questions we consider to make sure each client’s needs are met.

Revisiting Eligibility for Small Business Taxpayer Exemptions

| TAX | No Comments
“An exemption from UNICAP? And no limitation on the amount of business interest expense I can deduct? Sign me up!” Many taxpayers (and their tax return preparers) have eagerly embraced…

Complying with SECURE Act Changes to Long-Term Part-Time Employee Eligibility and IRS Form 5500

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Two significant regulatory changes to retirement plans require immediate attention from plan sponsors, both to ensure current operational compliance and to comply with upcoming deadlines. Many long-term, part-time (LTPT) employees…

Virginia Issues Final PTET Guidance for Tax Years 2022-2025 and Retroactive Guidance for Tax Year 2021

| TAX | No Comments
On January 17, the Virginia Department of Taxation (DOT) issued final guidelines for the commonwealth’s pass-through entity tax (PTET) for tax years 2022 through 2025, and on March 4, it…

Treasury, IRS Release Final Regulations on Elective Pay Election for Energy Tax Credits

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The Department of the Treasury and the IRS on March 5 released final regulations (TD 9988) on the elective pay election for certain energy tax credits under IRC Section 6417,…