BFS CPA Firm

BFS CPA Firm BFS CPA firm provides high quality tax and accounting professional & personalized services throughout the New Jersey area.

Blessing Financial Services, LLC, located in Bridgewater, New Jersey, is a full-service accounting CPA firm serving clients throughout the New Jersey area, dedicated to providing its clients with professional, personalized services and guidance in a wide range of tax, accounting and audit needs. Jane Chen, is a licensed CPA, CGMA, MBA and Advanced Intuit Quickbooks ProAdvisor, who has successfully

handled tax payers’ IRS reviews & audit cases and helped nonprofit organizations to reinstate their tax-exempt status. She has decades of international & domestic experience in both public/private and non-profit environments, providing high quality, and cost effective professional services in the following areas:

* Business & Individual Tax Return Preparation & Tax
* Quickbooks Accounting/Writing-Up
* Payroll
* IRS Representation
* Quickbooks Accounting System Services
* Internal Audit
* Non-profit Organization Consulting
* Business Startup

Blessing Financial Services, LLC is thoroughly conversant with Chinese business culture. Jane Chen, CPA is fluent in both English and Chinese language (Mandarin) with an emphasis on specialized business practice integrating the Western and Eastern profit motives with synergized profit results. The Firm continues to build its trust-worthy, respectful working relationship with clients through its honesty/integrity and class.

Did you know that if you have seriously delinquent tax debt, you could lose your passport? The IRS can “certify” unpaid ...
07/13/2026

Did you know that if you have seriously delinquent tax debt, you could lose your passport? The IRS can “certify” unpaid federal tax debts over $66,000 (adjusted annually for inflation) to the U.S. State Department, which may deny a passport application or renewal — or even revoke your current passport — until your tax issues are resolved. If you’re overseas, you might receive only a limited-validity passport to return to the United States. Unpaid federal tax debt includes individual income taxes, trust fund recovery penalties, business taxes for which taxpayers are personally liable and other civil penalties. Contact us at (908) 393-9752 for details.

If you’re getting married, or were recently married, congratulations! Taxes are likely the furthest from your mind, but ...
07/10/2026

If you’re getting married, or were recently married, congratulations! Taxes are likely the furthest from your mind, but there are a few tax-related chores you need to consider. For example, next year, for 2026, you’ll be filing your first tax return as a married person. That could affect the amount of tax you should have withheld from your paycheck. Use the IRS Withholding Estimator to check. Then provide your employer with a new Form W-4. If your last name has changed, notify the Social Security Administration, which will inform the IRS. You and your new spouse should also review financial accounts, insurance coverage, estate plans and tax strategies. We can help. Contact us at (908) 393-9752.

You’ll probably owe tax on your retirement income — how much depends on factors such as the types of retirement accounts...
07/08/2026

You’ll probably owe tax on your retirement income — how much depends on factors such as the types of retirement accounts you own and your other income sources. In general, retirees should withdraw funds from any taxable accounts first, tax-deferred accounts second and tax-free accounts last. But different withdrawal strategies may benefit you. The important thing is to start planning before you retire. Call us at (908) 393-9752 for help.

Whether your business sponsors a 401(k) plan or is considering it, automatic enrollment deserves a fresh look. This feat...
07/06/2026

Whether your business sponsors a 401(k) plan or is considering it, automatic enrollment deserves a fresh look. This feature automatically enrolls eligible employees in the plan unless they opt out or choose a different contribution rate. Under the SECURE 2.0 Act, many 401(k) plans established on or after December 29, 2022, must include an auto-enroll feature for plan years beginning after December 31, 2024. (Some exceptions may apply.) Older plans generally aren’t required to add this feature, but doing so can benefit both employers and employees. Call us at (908) 393-9752 for more information.

The ultimate success of a business often comes back to decisions made at its inception. If you’re planning to start a bu...
07/03/2026

The ultimate success of a business often comes back to decisions made at its inception. If you’re planning to start a business, one key decision is choosing its structure, commonly sole proprietorship, C corporation, S corporation, partnership or limited liability company. In addition to owner liability variations, all have different tax requirements that can affect everything from hiring to cash flow to owner income. Another critical decision is choosing a tax year — either a calendar year or a fiscal year (12 consecutive months ending on the last day of any month except December). Call us at (908) 393-9752. We can help you make the best decisions for your current situation and your business’s future.

Now is the perfect time to tidy up your QuickBooks files. Unreconciled accounts, uncategorized transactions and outdated...
07/01/2026

Now is the perfect time to tidy up your QuickBooks files. Unreconciled accounts, uncategorized transactions and outdated records can distort your cash flow and profitability. Even with QuickBooks’ automation tools and AI-enabled features, consistent review and oversight are essential. Don’t forget your chart of accounts! An outdated or cluttered chart can muddy your results, making it harder to understand your true performance. Clean books support better financial decisions and smoother tax filings. Call us at (908) 393-9752 to help get your bookkeeping in top shape.

Do you know the difference between IRS liens and levies? A federal tax lien arises when you fail to pay taxes after rece...
07/01/2026

Do you know the difference between IRS liens and levies? A federal tax lien arises when you fail to pay taxes after receiving an IRS bill or notice. It’s a legal claim against your property, including real estate and other assets, which can affect your ability to secure credit or complete financial transactions. A levy may be the next step if your debt remains unresolved. The IRS can seize assets — such as wages or bank funds — to satisfy the debt. In short, a lien protects the IRS’s interest, while a levy enforces collection. If you receive collection notices, don’t ignore them! Acting quickly can help open the door to resolution options. Call us at (908) 393-9752.

Every business deserves an advisor who understands its goals and challenges. Our client-first approach combines responsi...
06/29/2026

Every business deserves an advisor who understands its goals and challenges. Our client-first approach combines responsive service with a comprehensive understanding of the latest tax, accounting and regulatory developments. Let’s explore strategies that help your business manage risks, seize opportunities and grow. Call us at (908) 393-9752 to get started.

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss infor...
06/26/2026

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss information to selling partners by January 31. This deadline had become a contentious issue. The tax code requires that any portion of a partnership’s sale proceeds attributable to the partner’s share of unrealized receivables and inventory items be reported as ordinary income. Other sale proceeds are generally taxed as capital gains. But partnerships complained that the reporting deadline was hard to meet. Now, partnerships can provide such information to partners according to their natural end-of-year tax compliance cycle, on or with Schedule K-1. Contact us at (908) 393-9752 to discuss this and other tax filing requirements for partnerships.

For small business owners, tax planning shouldn’t be a once-a-year chore. It affects nearly every business decision you ...
06/24/2026

For small business owners, tax planning shouldn’t be a once-a-year chore. It affects nearly every business decision you make. From how you pay yourself to when you invest in equipment, the right moves can lower your tax bill … and the wrong ones can cost you. With major tax law changes taking effect in 2026, now’s the time to be proactive, not reactive. We can help you understand which strategies, deductions and credits matter most for your business. Call us at (908) 393-9752 to learn how smart planning today can lead to long-term tax savings.

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23 Jenna Drive
Bridgewater, NJ
08807

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