Baum, Smith & Clemens ClientLine Newsletter

Baum, Smith & Clemens, LLP

CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS ADVISORS

2060 Detwiler Road, Suite 125, Harleysville, PA 19438

Phone: 215-368-5755

Fax: 215-368-7038

Email: info@bsccpas.com

Website: www.bsccpas.com

July 2025

A Family Affair

The urge to make a difference often extends beyond personal success into a desire to impact the world positively. One effective way to channel this desire is through a family foundation. This approach supports causes that resonate with you and establishes a charitable legacy for future generations.

Beware The Wash Sale Rule

It sounds simple. Sell securities, such as stocks, bonds, ETFs, or mutual funds, in which you have a tax loss for 2024, claim the loss, and repurchase the assets.

When Should You Start Social Security Benefits

Before deciding to collect Social Security benefits, consider these tips to help you make an informed decision.

July 2025 Client Profile

Connie and her son own a manufacturing business with about 150 employees. She wants to increase the business's 401(k) plan participation. Connie has read that auto-enrollment can successfully boost participation but wonders if the cost of auto-enrollment is worth the increased participation they may get.

Payroll Taxes Paid By Employer

You may realize that your employer pays for employee benefits, but companies must also pay the following taxes:

Legal Documents Most Americans Need

These documents will give your family guidance and comfort when they need it most.

July 2025 Q and A

Let's talk about your time and charitable contributions.

Long-Term Disability Insurance

Do you ever think about what life would be like if you could no longer earn a living? It happens more than you may realize. Sadly, 25% of Americans will become disabled before retirement age. Are you insured?

Consider Taxes When Planning For Retirement

When it comes to planning for retirement, one important element that people often overlook is taxes, which can be an expensive mistake.

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