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| Additional information |
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| Damitz, Brooks, Nightingale, Turner & Morrisset |
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Overview:
As a full service accounting firm, DBNT&M is uniquely qualified to handle all business related compliance and planning issues for professional services firms. From contracting businesses to architectural firms and law partnerships to medical practices, our professionals have the resources and experience to meet all of your business accounting and tax needs.
In addition to planning and compliance issues, our audit and accounting professionals can provide all levels of attest functions related to compilation, review, or audit of financial statements for internal or external needs.
Tax considerations and planning are critical to the success of all business ventures. Compensation issues and profit allocation among the owners are significant for both tax planning purposes and maintaining harmony within the firm. Preparation of projections can be crucial to reducing taxes as well as providing a review of the sources and uses of cash. DBNT&M can advise your business on these and many other accounting, tax and financial issues.
As a member of Allinial Global, DBNT&M is affiliated with firms throughout the United States that can provide local expertise on issues ranging from multi-state taxation, compensation, and valuation to international tax matters.
SERVICES:
Tax Services
DBNT&M is unique for a medium-sized, local CPA firm in that the tax division represents the core of the practice. When the firm broke off from Arthur Anderson in 1982, it took the tax practice and grew the practice to its current position. As a result of this genesis, we work with some of the most successful and affluent clients in the Tri-Counties. We invest heavily in tax-related continuing education, a necessity for addressing issues pertaining to high net-worth, sophisticated clients. Our “DBN University” is an in-house educational forum, where cutting edge issues are discussed and analyzed. We utilize a paperless work environment and have made a significant commitment to technology. Areas of expertise include:
Business Management for Family Groups – a comprehensive, integrated approach which coordinates the tax, accounting, bookkeeping, legal and consulting
Tax consulting and accounting for professionals and professional entities
Representation before the IRS and state agencies – conflict resolution of tax issues
Estate & Trust Consulting – estate planning and coordination with family legal counsel and post-mortem administration of estate.
Private Foundations, Charitable Trusts and Not-for-Profit Organizations
Complicated tax compliance – Federal and multi-state
Real Estate transactions – analysis of tax deferred exchanges, partnerships and LLC issues
Assurance Services
We are committed to delivering comprehensive, independent, efficient, and effective audits and reviews of financial statements. We also provide quality assurance services to help ensure that our clients’ financial statements meet the regulatory and business requirements under which they function. Our services are based on a commitment to proactively communicate with our clients and their audit committee, or others charged with corporate governance, about issues and information that impacts their organization and industry. Beyond audit, review, and compilation services, we provide a broad range of advisory services including agreed upon procedures, internal control design assessment and testing and other accounting services.
Financial Reporting & Assurance Services
Audit and other assurance services relating to financial statements are a core service of public accounting firms. These are commonly referred to as “attest” services. Creditors, investors or regulators will require an independent accountant either audit or review an organization’s financial statements and render a report (attest) as to their fairness and their conformity with generally accepted accounting principles or other relevant basis of accounting. In some instances the organization may only be asked to provide financial statements that are compiled by a CPA. At DBNTM, we view the audit and other assurance services as more than a compliance activity; it’s also an opportunity to develop a thorough understanding of your organization, unique aspects of the industry your organization operates in, and the business risks you face. We provide audit, review and other attest services to organizations in a variety of industries including financial services, technology, healthcare, agriculture, wineries, manufacturing, real estate, non-profits and employee benefit plans. We focus on reaching beyond the account balances to recommend improvements to your processes and internal controls, improve the quality of the information your system generates, develop useful management reports and help organize and interpret the financial information to help you make better decisions. We are also a member of PKF North America, which is a network of independently-owned accounting and consulting firms with offices across North America. As a member of PKF, we are able to provide a range of technical and industry specific resources of a national firm allowing us to better serve your organization’s specific needs. DBNTM is a participant in the American Institute of Certified Public Accountants Peer Review process and has received an unqualified opinion for each of its reviews, which have also been accepted by the California Society of CPAs. Our services include:
Audited financial statements
Reviewed financial statements
Compiled financial statements
Employee benefit plan audits
Royalty and contract audits
Agreed-upon procedures
Reviews and reporting on internal controls
Due diligence/special investigations
Assistance on transactions, including mergers and acquisitions
Employee Benefit Plan Audit
Audits of benefit plans are required in order to protect the employees who are covered by them. With the passage of the Employee Retirement Income Security Act of 1974 (ERISA), plan sponsors and administrators are responsible for ensuring the accuracy of their plans’ financial statements as well as comply with ERISA reporting requirements, the Department of Labor (DOL) rules, and other complex regulations. Audits of employee benefit plans involve more than just a financial audit of the plan’s assets. These audits take an in-depth look at your organization’s compliance with a variety of regulations. As a result audits of employee benefit plans are unlike other audits, they are subject to specific rules that require specialized knowledge to execute. DBNTM’s employee benefits team has extensive knowledge of ERISA guidelines and expertise performing employee benefit plan audits. As a member of the AICPA’s Employee Benefit Plan Audit Quality Center, we are required to maintain and demonstrate high quality audit services, obtain certain levels of continuing education specifically in the auditing of benefit and retirement plans, and must include plan audits in our peer review process.
Internal Control
The need for strong internal controls is not limited to public companies. Effective internal controls provide management with reliable information tools that allow them to identify, manage and mitigate risk on an ongoing basis. Designed appropriately, a strong internal control environment supports growth and helps every organization, whether public, private, or non-profit. DBNTM can assist an organization in assessing both the design and operating effectiveness of its internal control systems, making recommendations for improvement, and assisting with the implementation of the recommendations.
Private Client Services
DBNT&M provides family office services, including bill pay, bookkeeping, and financial reporting, to individuals, trusts, and seniors who need assistance managing their finances from someone other than a family member. Perhaps you’re looking for an objective party to account for your family’s personal assets, your financial management needs have outgrown your resources, or you seek simply to find the time and peace of mind that come from trusting your personal accounting responsibilities to a professional – whatever the reason, we’re here to help.
Bill Pay
High net worth families, trustees and other professionals may not have the time to perform the many tasks associated with managing their resources. DBNT&M can relieve you of much of this responsibility by acting as your personal financial officer. When you contract with DBNT&M for bill pay services, we’ll handle the following:
Receiving and reviewing bills
Organizing and tracking billing information
Making timely bill payments, both electronically and manually
Preparing monthly bill payment history reports
Transferring funds, making deposits, and maintaining accurate bank account balances.
Bookkeeping
Basic accounting and bookkeeping functions can become complicated when they involve family businesses or other assets. DBNT&M provides bookkeeping services to family offices, saving individuals and families considerable time, money, and peace of mind. Turn to us for support in the following areas:
Performing regular bookkeeping and accounting services
Establishing, managing and filing payroll taxes for household employees
Maintaining general ledger and chart of accounts
Conducting month and year end closing procedures
Reconciling bank and other account statements
Maintaining files for bills paid, account statements and other financial documents
Organizing tax-related documents
Designing and producing custom reports
Litigation, Forensic & Fiduciary Accounting
Forensic accounting is a specialized field that combines investigative skills with accounting expertise. We identify and analyze financial data, dissect complex financial transactions, and develop and analyze accounting controls and procedures. We provide forensic accounting and litigation support in cases of financial fraud, marital dissolution matters and expert witness testimony. Fiduciary accountings are specialized reports mandated by the California Probate Code, specifically used by executors, trustees, conservators and others in positions of fiduciary duty. These reports are submitted to a court of law for review and approval by the presiding judge. We have the expertise to quickly and efficiently prepare these reports for your submission to court. We team with your attorneys to determine all information is presented in a clear and concise manner. |
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Member:
American Institute of Certified Public Accountants
California Society of Certified Public Accountants
Allinial Global
ProVisors |
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