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.

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.

Starting in 2026, the tax rules for the personal casualty loss deduction are changing. While the deduction remains limit...
06/22/2026

Starting in 2026, the tax rules for the personal casualty loss deduction are changing. While the deduction remains limited mainly to disaster-related losses, eligibility is expanding beyond federally declared disasters to include certain state-declared disasters. Because the rules are complicated and additional limits apply, review your situation with us. We can help determine whether you’re eligible for a casualty loss deduction. Contact us at (908) 393-9752.

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-...
06/19/2026

A summer job is a great way for teens to earn extra cash, but it also comes with tax responsibilities. Anyone with self-employed income over $400, such as earnings from mowing lawns or babysitting, must file an income tax return and may owe self-employment tax. If a teen works for an employer that withholds payroll taxes, the filing threshold is higher: $16,100 for 2026. In this case, the teen usually won’t owe income tax and may receive a refund if taxes were withheld. Call us at (908) 393-9752 with questions.

Maintaining healthy operating cash flow helps drive your company’s success. But accomplishing this objective isn’t alway...
06/17/2026

Maintaining healthy operating cash flow helps drive your company’s success. But accomplishing this objective isn’t always easy. One practical approach is to speed up customer payments while carefully managing the timing of your own bills. Prudently shortening your cash conversion cycle can improve liquidity and give your business greater financial flexibility. Please call us at (908) 393-9752 for help identifying opportunities to strengthen your cash position and keep your business moving in the right direction.

If you’d like to arrange for a transfer of wealth through multiple generations, consider a dynasty trust. Assets are tax...
06/15/2026

If you’d like to arrange for a transfer of wealth through multiple generations, consider a dynasty trust. Assets are taxed just once, when they’re initially transferred to the trust. There’s no estate or generation-skipping transfer tax due on any subsequent appreciation in value. A drawback is that the trust is irrevocable. This means it generally can never be revised. Call us at (908) 393-9752 for more details.

The Qualified Opportunity Zone (QOZ) program offers tax breaks on capital gains from eligible long-term investments in d...
06/13/2026

The Qualified Opportunity Zone (QOZ) program offers tax breaks on capital gains from eligible long-term investments in designated low-income and rural communities. The One Big Beautiful Bill Act made the QOZ program permanent and established a new 10-year designation cycle. The IRS has issued guidance on how to nominate population census tracts for designation as QOZs. The next round of QOZs will be effective from Jan. 1, 2027, to Dec. 31, 2036. Generally, state and territory governors can begin nominating eligible census tracts for QOZ designation on July 1, 2026. The nomination period lasts 90 days, with the option of a single 30-day extension. Contact us at (908) 393-9752 with any questions about QOZ tax breaks.

Imagine if a fraud perpetrator wiped out your 401(k) account balance overnight. Would you still be able to retire? Milli...
06/13/2026

Imagine if a fraud perpetrator wiped out your 401(k) account balance overnight. Would you still be able to retire? Millions of dollars in U.S. retirement plans have been stolen thanks to hackers, identity thieves and social engineers, such as scammers using phishing emails to obtain financial and other personal information. But you can protect your hard-earned savings! Call us (908) 393-9752 for retirement planning help.

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a...
06/12/2026

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking and toilet facilities could qualify as a home for the mortgage interest itemized deduction. Itemizers may also be able to deduct eligible state and local sales tax paid on a boat, subject to applicable limits. Vessels used in bona fide businesses, such as charter fishing or sightseeing, can generate deductible business expenses. Before assuming your boat delivers tax savings, contact us at (908) 393-9752 to learn more. We can help determine your vessel’s eligibility and provide guidance on substantiating any write-offs.

Are you behind on federal tax payments or worried about defaulting on an IRS installment agreement? You might have more ...
06/10/2026

Are you behind on federal tax payments or worried about defaulting on an IRS installment agreement? You might have more options than you realize. If your finances have changed, the IRS may let you adjust your payment plan to lower monthly payments or a new schedule. If your agreement is terminated, you can request reinstatement. You can also consider an offer in compromise, which may allow you to settle for less than you owe. If you’re facing serious financial trouble and can provide evidence of undue hardship, the IRS sometimes allows up to six months to pay. It helps to act early. Call us at (908) 393-9752 with questions.

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear enti...
06/08/2026

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear entirely. But payments may be smaller, and the qualifying age for full benefits (currently 65 to 67, depending on your date of birth) may increase. So it’s critical to take advantage of tax-deferred retirement vehicles and to make age-appropriate investments that can help you accumulate adequate savings. Call us at (908) 393-9752 to discuss your retirement goals and ways to achieve them.

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23 Jenna Drive
Bridgewater, NJ
08807

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