Industries

Construction

Construction contractors are at the core of Darmody’s business. Since our inception in 1938 Darmody has provided generations of contractors throughout New England with timely and accurate accounting information they have relied on to successfully grow their businesses. We work closely with owners and management to implement revenue recognition policies and structure business in a way that maximizes their growth and bonding capacity while managing the related tax burdens and projected cash flows.

We work closely with banks, bonding companies, and other stakeholders to ensure compliance with all regulations and required reporting.

Our construction contractor client base ranges from specialty trade contractors with revenues less than a million dollars to general contractors with revenues of several hundred million dollars. Our business model of one point of contact for clients leading a team of professionals and specialists working with the same clients year after year gives emerging clients the confidence of having a large team of experienced veterans working for them. It also gives our older clients the support to adapt and reinvent themselves with every project.

• Financial statement Audits, Reviews, and Compilations
• Federal and multistate income tax return preparation
• Tax planning and provisions for accrued and deferred tax liabilities
• Tax credit consulting
• Prequalification preparation
• Cash flow analysis and projections
• Internal controls and job cost testing
• Overhead rate calculations
• Overhead rate audits
• Succession planning
• Interim CFO/controller and back office services
• Merger and acquisition due diligence
• Deal structuring
• Agreed upon procedures engagements
• Accounting Standard Selection and Implementation

Dealerships & Equipment Rental Companies

Darmody has been providing tax and attestation services to the automobile and equipment dealership industry since our inception in 1938. We work closely with manufacturer licensed and independent dealerships to provide timely and accurate information on inventory, cash flows, and debt service.

• Financial statement Audits, Reviews, and Compilations
• Federal and multistate income tax return preparation
• Tax planning and provisions for accrued and deferred tax liabilities
• Floor plan and other financing applications
• Cash flow analysis and projections
• Internal controls testing
• Inventory counts
• Overhead rate calculations
• Succession planning
• Interim CFO/controller and back office services
• Merger and acquisition due diligence
• Deal structuring
• Transaction accounting
• Agreed upon procedures engagements
• Accounting Standard Selection and Implementation

Mining and Quarries

Mining, quarries, gravel banks, and aggregate distributors are an integral part of the construction industry. These companies have complex tax and accounting decisions that require expert guidance. Darmody has been providing this guidance to generations of mining and quarry owners since our inception in 1938.

• Financial statement Audits, Reviews, and Compilations
• Federal and multistate income tax return preparation
• Tax planning and provisions for accrued and deferred tax liabilities
• Tax credit consulting
• Loan application preparation
• Cash flow analysis and projections
• Internal controls and job cost testing
• Accounting and tax method selections
• 1031 Like-Kind-Exchange consulting
• Succession planning
• Interim CFO/controller and back office services
• Merger and acquisition due diligence
• Deal structuring
• Accounting Standard Selection and Implementation
• Agreed upon procedures engagements

Private Equity

Private equity clients rely on Darmody to provide timely tax and financial reporting for portfolio companies due to our expertise in a wide variety of industries. They also rely on us to provide reliable accounting for complex investor level partnership structures. In addition they can leverage our staff for due-diligence and deal structure consulting on both the buy and sell side of transactions.

• Financial statement Audits, Reviews, and Compilations
• Federal and multistate income tax return preparation
• Tax planning and provisions for accrued and deferred tax liabilities
• Tax credit consulting
• Cash flow analysis and projections
• Overhead rate calculations
• Overhead rate audits
• Accounting standard selection and implementation
• Interim CFO/controller and back office services
• Merger and acquisition due diligence
• Deal structuring
• Agreed upon procedures engagements

Real Estate

Our clients have built, bought, developed, and sold some of the most iconic landmarks in Boston and throughout New England. Many more properties have been owned for generations and serve as the headquarters for family businesses large and small. Darmody has been a trusted advisor and accountant every step of the way providing tax and cash flow projections as well as due diligence and preparing financing applications and documentation. Our real estate staff is well versed in all tax aspects of real estate including 1031 exchanges, cost segregation studies, and depreciation elections.

While we carefully examine every property in detail, we still take a hollistic approach to real estate portfolios and associated businesses. Our goal is to maximize the current and long-term value of our clients’ real estate by finding the right ownership, financing, and operational structure for estate planning, future transactions, and tax minimization including credits and net investment income taxes.

• Financial statement Audits, Reviews, and Compilations
• Federal and multistate income tax return preparation
• Tax planning and provisions for accrued and deferred tax liabilities
• Tax credit consulting
• Cash flow analysis and projections
• Loan and financing application preparation
• 1031 Like-Kind Exchanges
• Depreciation elections
• Estate and succession planning
• Interim CFO/controller and back office services
• Merger and acquisition due diligence
• Deal structuring
• Accounting Standard Selection and Implementation
• Agreed upon procedures engagements

Defined Contribution Pension Plans (401(k)’s and ESOP’s)

Darmody has been auditing defined contribution plans since required by ERISA starting in 1974. Pension plans are an often large but neglected part of a normal operating company and require strict compliance with many laws and regulations that some payroll departments are not familiar with. Having an experienced specialist like Darmody in your corner can protect your blind-side from potential exposure to DOL audit penalties which could result in the termination of the plan itself.

We staff our pension audit engagements with experienced, licensed CPA’s who perform these engagements throughout the year. In addition to just providing an audit report, we will consult with you year round to ensure your plan is operating as designed and in compliance with the latest government regulations.

• Financial statement Audits, Reviews, and Compilations
• Sec. 103(a)(3)(C) (Limited-scope) financial statement audits
• Plan design and elections consulting
• Compliance update consulting
• Tax return preparation
• Review of tax returns prepared by plan administrators