Brock, Schechter & Polakoff, LLP

10/27/2026

From $3,000 in 1937 to $192,300 in 2027, the Social Security wage base has changed dramatically over the years. Here’s what the latest increase means for small business owners and their employees.

If your small business has employees, you may need to budget for higher payroll costs next year, especially if you employ many high earners. The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $192,300 for 2027 (up from $184,500...

10/23/2026

After weeks of deadlines, details and doing what we do best, we decided to end our Thursday a little early yesterday for a much-deserved team happy hour! And with a few new hires starting this week, it was the perfect way celebrate. Hanging out in Larkin Building's new lounge always hits. Happy Friday!

10/22/2026

Lease accounting has come a long way. Before ASC 842, certain lease obligations could stay off a company's balance sheet, making its financial position look different than the full picture.

In his latest article, Staff Accountant Leighton Bradshaw, CPA explores the history behind the lease standard, why the rules changed, and what those changes mean for financial reporting today.

Take a look at the story behind the standard:

The 2016 lease accounting update changed how leasing obligations are presented on the balance sheet. This article explains why the change was needed, how older guidance made some lease obligations less visible, and how ASC 842 changed the presentation of operating leases.

10/20/2026

With a handful of paychecks left in 2026, you may still have time to increase your 401(k) contributions and either cut your 2026 taxes or provide yourself with tax-free retirement income. Find out more:

As 2026 draws to a close, your employer’s 401(k) plan may offer an opportunity to reduce your current income taxes while building your retirement savings — or to boost your future tax-free retirement income. If you haven’t been contributing, it may not be too late to start. And if you’re alr...

10/13/2026

Separation and divorce can have tax consequences that are often overlooked. If you’re in the process of a split with your spouse, it’s important to understand how a legal separation or final divorce decree could affect your 2026 filing status and tax liability. Find out more:

Dissolving a marriage involves numerous financial and nonfinancial decisions, and tax considerations can easily fall by the wayside. But decisions made before your divorce is finalized can affect your current-year income tax liability and your tax situation in future years. Let’s look at some of t...

10/12/2026

As year-end approaches, are your financial reports giving you the insight you need to plan ahead?

Interim financial reports can help you spot cash flow concerns, understand profit margins and make smarter business decisions before year-end.

Read our latest article to learn how more timely reporting can help you finish 2026 strong and plan for 2027. And if you need an assist, our outsourced accounting team can help you establish monthly or quarterly reporting and provide analysis to turn numbers into action!

If you decide to hire new employees, adjust prices or expand operations, you shouldn’t rely on financial information that might be months out of date. And this may be the case if your business generates only one set of financial statements annually. Interim financial reports can provide a fresher ...

10/08/2026

What if you could experience a "family office" approach, without having a traditional Family Office?

As wealth grows, so does complexity. And when multiple professionals are involved, the question becomes: Are all the pieces working together?

In his latest case study, Matthew Sova, CPA, Principal at BS&P, draws from his experience working with high-net-worth individuals and successful business owners to explore what a coordinated, family-office-style approach can look like in practice.

An excellent read for business owners and families thinking about succession and legacy planning, especially if you are managing a team of financial, legal and tax professionals and want these advisors working cohesively.

Read Matt's case study:

10/07/2026

We're proud to share that BS&P has been recognized among the 2026 Top 400 Firms by Inside Public Accounting!

What means the most about this accolade is celebrating the team behind it. Every day, our people show up with consistency, care & connection - for our clients, our colleagues and our community.

We're grateful for the hard work, collaboration, and leadership that continue to move BS&P forward!

10/06/2026

Does your teenager have a part-time job or earn income from babysitting, yardwork or other self-employment? An IRA can provide an early start on decades of tax-advantaged saving. Learn more:

Retirement is far from most teenagers’ minds when they get their first jobs. Most young people are more interested in spending their earnings or saving for a shorter-term goal. But those early earnings create a significant financial opportunity: decades of potential tax-advantaged growth. Even mod...

10/05/2026

Business succession planning is not something to put off until you're ready to step away. The most successful transitions are often years in the making, and preparing successors to lead is a critical part of that process. Our latest article offers practical considerations for family businesses:

https://bspcpa.com/prepare-a-successor-to-lead-your-family-business/

Looking for more on succession? BS&P recently teamed up with Rupp Pfalzgraf LLC for a webinar on The Cost of Waiting: A Legal & Financial Guide to Business Succession Planning, where we explored the financial, tax and legal considerations that can shape the future of a business and the people who will carry it forward. Send us a message and we'll share the links!

Are you planning to retire or move on from your family business in the next five to ten years? If so, and you know who’ll succeed you, start preparing that person to lead. To reveal knowledge gaps, minimize friction among relatives and employees, and give everyone greater confidence in the next le...