Staff Articles

Could Hosting an Exchange Student Impact Your Taxes?

Opening your home to a foreign exchange student is certainly a meaningful and enriching experience, but it also comes with important tax considerations that families should know about. In this article, Staff Accountant Jenna Leid breaks down eligibility for deductions, which expenses do (and don’t)…

When to Bring in an Accountant: Key Moments that Benefit from Professional Support

As a staff accountant, BS&P’s Anna Stevenson has a front-row seat to the moments when financial decisions matter most. In this article, Anna shares key scenarios where bringing in an accountant can be game-changing, helping individuals and business owners navigate growth, change and complexity with…

What to Expect as a First-Year Staff Accountant in a Mid-Size Public Accounting Firm

What is it really like to start your career in public accounting? Staff Accountant Alyson DePadre offers a candid, first-hand perspective on her first year at a mid-sized CPA firm – what surprised her, what she learned, and what every new staff accountant should expect….

An Income Tax Guide for International Touring Artists Entering the U.S. Market

In this article, Senior Accountant Jacob Hooton, CPA demystifies the U.S. tax landscape for international touring artists. Navigating the U.S. market can be daunting, especially when unfamiliar regulations create unexpected challenges. This practical guide outlines key rules and provides a clear, step-by-step checklist to help…

Understanding Section 179: A Depreciation Deduction Q&A

In this article, Staff Accountant Maggie Blenker answers your top questions about the Section 179 Depreciation Deduction: what it is, how it’s applied and key considerations that could affect your eligibility. Q: What is the Section 179 Deduction? A: Rather than depreciating equipment over time,…

Schedule C vs. Schedule E: Key Differences and Tax Implications for Individual Taxpayers

If you have income from sources such as a sole proprietorship, single-member limited liability corporation, and rental property, you likely need to report this income on your tax return on Schedules C and E. You may find it confusing when you should report this income…

Raising Capital? Your Business May Need Financial Statements

In this article, Staff Accountant Jacob Coughlin, CPA shares a guide to attestation for business owners with a breakdown of options, levels of assurance and other key factors to help you make the right decision for your business. A small business raising capital has two…

Understanding 1099 Filing Requirements: A Q&A for Businesses

Businesses of all sizes are preparing to meet important tax reporting obligations – including the filing of Form 1099. Failing to properly issue and file 1099s can result in costly penalties and unnecessary IRS issues. In this article, In-Charge Senior Accountant Bryce Tarletsky, CPA offers…

Form 1040 vs. 1040NR: Understanding U.S. Tax Residency and Double Taxation

Understanding whether you’re considered a U.S. tax resident (or not) is one of the most important, and often misunderstood, parts of cross-border tax compliance. In this article, Senior Accountant Ashlee Hohman, CPA breaks down the key differences between Form 1040 and Form 1040NR, explains how…

Understanding Capital Assets and How Capital Gains and Losses May Affect Your Taxes

Capital gains and losses can have a bigger impact on your tax bill than you might expect. In this article, Staff Accountant Kayla Guarisco breaks down what qualifies as a capital asset, how gains and losses are classified and illustrates why understanding the impact is…