A cutting system for accurately cutting a notch in a piece of lineal to permit sharp bending of the lineal, permitting the lineal to be placed about the perimeter of picture or similar structure is disclosed. The cutting system includes a handle for driving a cutting blade in the direction of the force of gravity, and includes a retracting mechanism to return the handle and cutting blade to an initial starting position after each cut. A laterally reversible measuring assembly consisting of a measuring guide barn and a pair of adjustable measuring stops for measuring and supporting a piece of lineal to be cut, is releasably secured to the cutting system, facilitating interchange between left and right lateral configurations.