Dedicated practice group serving educational institutions, religious organizations, public charities, and social service agencies across Delaware and the Mid-Atlantic.
- Form 990 & Form 990-T (Unrelated Business Income Tax - UBIT) preparation
- Uniform Guidance Single Audits under 2 CFR 200 Subpart F
- Donor-restricted net asset accounting under ASC 958
- Gifts-in-kind compliance under ASU 2020-07
Featured Program: Nonprofit Succession Planning Workshop
A facilitated one-day on-site session for nonprofit boards and executives to establish structured succession protocols for Executive Directors, CFOs, and key board leadership.
Navigating bonding requirements, cyclical cash flows, and aggressive tax depreciation schedules for general contractors, subcontractors, and commercial developers.
- Percentage-of-completion accounting & look-back calculations
- Bonding capacity financial statement audits and reviews
- Cost segregation studies to accelerate building depreciation
- Section 1031 like-kind exchanges & Section 1033 involuntary conversions
- Passive activity loss rules & real estate professional status defense
Delaware is one of the premier captive insurance domiciles in the world. BLS CPAs provides specialized accounting, regulatory filings, and audit services for pure captives, series captives, and risk retention groups (RRGs).
- Statutory Accounting Principles (SAP) and GAAP financial reporting
- Coordination with independent actuaries and captive managers
- Annual statements submitted to the Delaware Department of Insurance
- Federal tax compliance for Section 831(b) micro-captives and commercial captives
Comprehensive ERISA compliance for defined contribution, defined benefit, and health and welfare plans. Led by nationally recognized ERISA author Maria T. Hurd, CPA, RPA.
- ERISA Section 103(a)(3)(C) audits and full-scope examinations
- Form 5500 preparation, electronic filing, and summary annual reports
- Internal control audits over participant contributions, loans, and distributions
- Voluntary correction programs (EPCRS and VFCP) with DOL/IRS
Balancing business strategy with sensitive family dynamics. We help founders transition leadership to the next generation while preserving corporate value and minimizing gift and estate taxes.
- Multi-generational ownership succession roadmaps
- Shareholder agreements, buy-sell valuation formulas, and buy-ins
- Valuation discounts for minority interest and lack of marketability
- Choice of entity reviews (C-Corp vs. S-Corp vs. LLC)
Assisting international conglomerates and foreign parent companies entering the United States market through Delaware or other corporate jurisdictions.
- U.S. subsidiary capitalization and transfer pricing documentation
- Form 5472 filings for 25%+ foreign-owned U.S. corporations
- Form 1042/1042-S withholding tax compliance
- International tax treaty benefit qualification and Form 6166
Auditing municipalities, public school districts, and state authorities under Governmental Accounting Standards Board (GASB) principles and Yellow Book (GAGAS) standards.
- Comprehensive Annual Financial Report (CAFR / ACFR) preparation
- GASB Statement No. 101 – Compensated Absences leave liability modeling
- Uniform Guidance federal grant compliance examinations
- Internal control reviews and public fraud vulnerability assessments
Holistic wealth planning integrating federal, state, and international tax compliance for executives, entrepreneurs, and multi-generational families.
- Delaware dynasty trust, directed trust, and DAPT tax strategy
- Gift (Form 709) and estate (Form 706) tax compliance and audit defense
- Private foundation creation, excise taxes, and Form 990-PF reporting
- Alternative Minimum Tax (AMT) planning and equity incentive timing
Tailored accounting and audit support for solo practitioners, boutique firms, and multi-tier legal partnerships across Delaware and Pennsylvania.
- Delaware Supreme Court Rule 1.15 / IOLTA audit certifications
- Partner capital account structuring and cash vs. accrual transitions
- Partner compensation formula modeling and lateral partner integration
- Marital asset tracing and commercial damage expert witness testimony
Helping physicians, dental groups, and healthcare clinics navigate declining reimbursement rates, overhead cost pressures, and ownership transitions.
- Physician buy-in / buy-out valuation agreements and calculations
- Practice overhead benchmarking and revenue cycle reviews
- Healthcare entity tax structuring and equipment leasing analyses
- Provider Relief Fund (PRF) and federal healthcare grant reporting
Specialized retail automotive accounting addressing floor plan interest financing, manufacturer statements, and showroom capital expensing.
- LIFO inventory calculations and factory warranty receivables
- Cost segregation studies on dealership showrooms, lots, and service bays
- Sales tax, title fee compliance, and payroll apportionment
- Dealership ownership succession and buy-sell agreement appraisals
Guiding distributors through complex multi-state warehouse networks, inventory costing methods, and post-Wayfair sales tax nexus compliance.
- Inventory costing systems (FIFO, LIFO, weighted average)
- Supply chain gross margin and working capital metrics
- Multi-state sales tax nexus registrations and exemption certificate audits
- Commercial credit facility review and borrowing base certificates
