Tax Services
Minimize tax liabilities by relying on our up-to-date tax expertise
DARMODY, MERLINO & CO., LLP
Our Tax Services
Federal and Multistate Income Tax Return Preparation
Our tax division works closely with the audit and accounting teams to share insights and information that reduce the year end burden of our clients and improve turnaround times for financial statements and tax returns.
Federal and Multistate Income Tax Return Preparation
Our tax division works closely with the audit and accounting teams to share insights and information that reduce the year end burden of our clients and improve turnaround times for financial statements and tax returns. Darmody prepares all types of individual and business tax returns including C Corporation, S Corporation, and Partnership (and LLC) returns. We also prepare returns for estates, trusts, and exempt organizations.
Our tax division can file in every jurisdiction in the U.S. and have established relationships enabling our clients to file in U.S. territories. We also file required informational forms and returns for U.S. filers with foreign operations and assets.
Tax Planning and Provisions For Accrued and Deferred Tax Liabilities
The close relationship between our tax division and the audit and accounting side allow us to identify and plan for upcoming tax events including year end planning. We track future anticipated differences between tax and financial statement income and prepare provisions deferred and accrued assets and liabilities.
Tax Credit Consulting
In addition to raising and lowering tax rates, legislation is constantly changing the amounts and availability of tax credits. Darmody follows all tax credit legislation and works with our clients to identify credits that can benefit them. We have established relationships with research and engineering firms to provide testing and substantiation for credits requiring substantiation.
Formation and Entity Election Consulting
FBAR and Foreign Financial Account Reporting
The IRS and the Treasury require informational returns and forms for assets and activities held in foreign countries. Regardless of the amounts or income produced by these accounts, the penalties for not filing can be severe. Darmody routinely handles the filing of these forms and returns for clients. We also work closely with attorneys and other experts to ensure our clients are compliant with the latest foreign reporting requirements.
Payroll Tax Return and 1099 Preparation
As a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner.
Sales Tax Consulting
IRS and Massachusetts DOR Examination Representation
During our years of experience dealing with many taxing authorities, we have achieved a level of competence that can ensure our clients they are being properly represented before the various federal and state tax agencies.
Estate Planning
Effective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.
How Can Darmody Help You?
Audit & Accounting
Providing financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. We have earned the trust of our clients and the respect of their stakeholders through years of comprehensive and proactive financial reporting.
Tax
