Complete Financial Advisory Services

Our services are built upon a strong foundation and a unique combination of experience, a credentialed workforce, strategic alliances, all of which qualifies us to meet the needs of today’s rapidly changing business environment.

At DiSanto, Priest & Co., we bring a principled, disciplined approach to all your financial affairs, whether they are state, interstate, national or international in scope.  Click on the categories to the left for more information on our breadth of services. As one of the largest regional advisory firms in Southern New England, we have developed a comprehensive approach to our clients’ personal and corporate financial needs. Please explore our primary service categories below.

Looking to Value Your Business?

The value of a business often serves as a financial cornerstone for ongoing operations, capital structure, succession planning, mergers and acquisitions, and a myriad of other strategic transactions.

Our professionals not only have years of experience but also provide representation on a national level as members of boards of the American Institute of Certified Public Accountants.

We Can Help With:

  • Estate and Gift Tax Planning
  • Divorce
  • Buy-Sell Agreements
  • Stock Option Plans
  • Succession/Exit Planning
  • Business Sales & Acquisitions
  • Shareholder Disputes

 Give us a call, or contact us to receive a free consultation regarding your business valuation.

Are you purchasing, constructing, improving or inheriting commercial property?

If so, you could benefit from a cost segregation study.

Historically, tax professionals have categorized realty acquisitions and newly constructed realty property into two asset classes: land and building. Land is not depreciable and, depending upon the building’s purpose, the building is depreciated over a 39 year or 27.5 year recovery period.

A cost segregation study allocates the property into two further asset classifications: land improvements and tangible personal property. This way, property owners can depreciate the “carved out property” into shorter lives—specifically, 15 year, 7 year and 5 year lives.

Why They Matter

These studies benefit the taxpayer through improved cash flow by virtue of up front tax savings and corresponding tax deferrals. Essentially, such benefits are derived from two sources:

  • Increased deductions arising from costs being shifted from nondepreciable land to depreciable property (land improvements); and
  • Time value of money impact of accelerating depreciation deductions to earlier tax years.

For example, if a building were placed in service in 2012 or 2013, every $100,000 carved out as tangible personal property will yield a depreciation deduction of $60,000 versus $2,500 if the property were treated as a building.* As can be seen, significant tax savings were achieved, primarily due to the special “bonus first-year depreciation allowance.” Therefore, using the same example, if the building were placed in service in 2012 or 2013, every $100,000 carved out as tangible personal property will yield a depreciation deduction of approximately $21,000.

An additional and often substantial benefit of a cost segregation study is that it allows property owners the ability to write off the segregated assets (e.g. roof, windows, boilers, etc.) should they later become obsolete, damaged, or replaced.

We Help You

We work closely with the client, the client’s accountant, the construction engineer, construction manager, engineers and appraisers to break out portions of the realty and assign the associated costs into the proper asset categories. Because cost segregation is factually intensive, we rely upon a myriad of tax court cases, rulings, memorandums, pronouncements and promulgations issued over the past 40 years as support for the study.

Give us a call or contact us to receive a free consultation to determine if a cost segregation study can maximize your deductions.

In connection with our analysis, we issue a comprehensive report that includes explanations on the segregation of the property, testing procedures, estimated tax savings, as well as a detail of the various pronouncements and tax court cases relied upon. Depending upon the size and complexity of the project, hundreds of assets can be identified in a 100-200 page report.

*Example assumes building is nonresidential real property and tangible personal property is five-year Section 1245 property depreciated using the half-year convention. Significant tax savings were achieved through a special “bonus first-year depreciation allowance”. Generally, 50% bonus depreciation allowance applies to qualified property acquired during 2012 and 2013.

As required by U.S. Treasury Regulations governing tax practice, Bentley Consulting Group, LLC informs you that any tax advice contained in this communication (including attachments) was not written or intended to be used for and cannot be used by the recipient or any taxpayer for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.

DiSanto, Priest & Co. SOC Reports

At an ever increasing speed, companies are using outside Service Organizations to perform activities that are core to their business operations.  They do so to focus time, energy, and resources on those activities that are central to their long term success.  However, with the need to outsource comes an equally important need for more trust and transparency with the outsourced service company’s operations, processes and results.  Customers need assurance that Service Organizations can perform as advertised, deliver what was promised, and continue to meet established expectations, year in and year out.  Management within an organization that has chosen to outsource want their Service Organizations to provide assurance over a range of general and industry specific concerns:

  • Security
  • Availability
  • Confidentiality
  • Processing Integrity
  • Privacy

At DiSanto, Priest & Company, We Offer:

  • Service Organization Control (SOC 1) Report No.1 (formerly SAS No. 70)
    • Examines internal controls at a service organization that impact user entity’s controls over financial reporting
  • Service Organization Control (SOC 2) Report No. 2
    • Examines the internal controls at a service organization with respect to the trust service principles; Security, Availability, Confidentiality, Processing Integrity and Privacy
  • Service Organization Control (SOC 3) Report No. 3
    • Involves the same procedures as a SOC 2 examination without all of the details which allows the report to be more widely distributed, and most often used as a marketing tool

DiSanto, Priest & Co. performs the following Third-Party Assurance (Service Organization Control – SOC) reporting services:

  • Financial reporting controls
  • Data security
  • Privacy
  • Regulatory compliance
  • Service Level Agreements
  • State and Federal Information Security laws

A Tailored Approach

At DiSanto, Priest & Co. we understand Service Organizations and their client base. Together, we work to provide a solution that can save considerable time, money and effort.  We start by first determining if your organization needs a SOC report, and then provide a solution that most closely aligns with strategic and project goals.

Our tailored approach to providing these specific assurance services make it possible for you to approach both existing and prospective customers with confidence and to convey trust and transparency.  If you must address subject matter that does not appear satisfied by any of the Service Organization Control (SOC) reports, a customized attestation report using another AIPCA attestation standard may be the missing piece to the puzzle.  DiSanto, Priest & Co. can help you find that missing piece.

Learn more about how a SOC report will benefit your company below, or contact us for a free consultation.

DiSanto, Priest & Co. views accounting and assurance engagements as opportunities. Developing key insights into our clients’ businesses enables us to offer business-specific knowledge to their key personnel.

Our senior professionals assigned to each engagement possess years of experience and in-depth training in attestation, tax, and general business matters. This blend of competence, judgment, and creativity allows us to serve our clients not only for compliance but as trusted business advisors.

In today’s business environment, it is critical that assurance and accounting services are performed by qualified, credentialed, objective professionals. You can rely on DiSanto, Priest & Co. to deliver high-quality services.

Income taxes are at the heart of our firm.  Whether you have business, estate, trust or personal filing requirements, we are here to guide you.  Our tax department has decades of experience from the simplest tax filings to the most complex of situations.  Our services include Federal, State and local taxes throughout New England, the United States and around the world.

We are dedicated to providing exceptional personal client service.  Our team has access to cutting-edge technology solutions to facilitate tax preparation, research, paperless transmission and storage of your documents as well as secure internet portal solutions.

Our tax team engages in active education programs locally and nationally to stay current on complex tax laws for both federal and state filings.  We apply that knowledge to your unique situation taking a customized “one size fits one” approach to your taxes.

The business environment today rewards organizations that are able to not only identify their business risks but effectively and efficiently manage those risks and unleash their true potential. To help you in this endeavor, we offer a broad suite of business advisory services.

 

Bentley Consulting Group, LLC employs credentialed professionals with the years of experience to help you meet your strategic objectives, whether you are looking for tax credit research, strategic planning, cost segregation studies, or business valuations.

 

For years, performers, artists, athletes and multi-generational families have benefited from the services of personal CFOs (Chief Family Officer/Chief Financial Organizer) to help manage their personal households. Services include budgeting, asset management, property management, bill management, contract management, and, in short, whatever is needed.

DiSanto, Priest & Co. is the EB-5 industry’s leading accounting and advisory firm comprised of a dedicated team of professionals with extensive experience and deep credentials in all aspects of the EB-5 program. DiSanto, Priest & Co. provides audit, review, tax and consulting services to many of the Country’s premier EB-5 Funds and Regional Centers. Our EB-5 Practice Group has prepared over 3,000 investor packages for EB-5 investors throughout the world branding DiSanto, Priest & Co. as one of the top EB-5 accounting firms.

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