Comprehensive Accounting, Assurance, Tax & Advisory Capabilities
Delivering Big Four technical depth with the agile accessibility of a regional leader. From certified business valuations and ERISA audits to Delaware holding company management, explore our specialized solutions.
Advisory Services & Business Valuation
Strategic, objective, and analytical guidance for privately held companies, executives, trustees, and legal professionals.
Certified Business Valuation (CVA)
Our Certified Valuation Analysts (CVA) provide defensible, formal valuation reports compliant with AICPA and NACVA professional standards across market, income, and asset methodologies:
- Shareholder buy-sell agreements & partner buy-ins
- Estate, gift, and inheritance tax valuations submitted to the IRS
- Mergers & acquisitions (M&A) pricing & fairness opinions
- Employee Stock Ownership Plan (ESOP) annual appraisals
Estate & Trust Advisory: "Why Trust Delaware"
Capitalizing on Delaware's premier statutory trust environment to protect multi-generational family wealth:
- Perpetual / Dynasty Trusts: Total exemption from the Rule Against Perpetuities
- Delaware Asset Protection Trusts (DAPTs): Self-settled spendthrift creditor protection
- Directed Trusts: Bifurcation of investment, distribution, and administrative trustee roles
- Zero State Tax: No DE state income tax on income accumulated for non-residents
Litigation Support & Marital Asset Division
Providing financial analysis, forensic damage calculations, and expert witness testimony in federal, state, and Delaware Court of Chancery proceedings:
- Division of marital property & separate vs. marital asset tracing
- Executive compensation & stock option apportionment modeling
- Commercial dispute damages & lost profit calculations
- Expert witness testimony and deposition support
Outsourced Accounting & QuickBooks® Consulting
Turnkey controllership, general ledger maintenance, and virtual CFO services powered by certified QuickBooks® ProAdvisors:
- Monthly financial close, journal entries, and account reconciliations
- Accounts payable, accounts receivable, and payroll administration
- Management reporting packages and cash flow forecasting
- System migration, chart of accounts setup, and staff workflow training
Audit & Independent Assurance Services
Rigorous financial verification delivering the transparency and credibility demanded by lenders, boards, donors, and regulatory bodies.
Financial Statement Audits, Reviews & Compilations
Providing tailored levels of assurance under US GAAP or Special Purpose Frameworks (Tax Basis / OCBOA):
- Audits: In-depth examination providing highest assurance with internal control analysis
- Reviews: Inquiries and analytical procedures for credit facilities & bonding
- Compilations: Management-prepared presentation without assurance
Single Audit – Uniform Guidance (2 CFR 200)
Comprehensive federal grant compliance audits for nonprofit institutions and governmental authorities expending $750,000+ in federal awards:
- Title 2 U.S. Code of Federal Regulations Part 200 Subpart F
- Schedule of Expenditures of Federal Awards (SEFA) verification
- Internal control compliance over allowable activities and costs
- Electronic Federal Audit Clearinghouse (FAC) submissions
Delaware Supreme Court Rule 1.15 IOLTA Examinations
Specialized compliance examinations for Delaware law practices to certify adherence to the Lawyers' Fund for Client Protection:
- Interest on Lawyers' Trust Accounts (IOLTA) three-way reconciliations
- Operating account examination and trust compliance certification
- Internal accounting control improvements for legal practices
Forensic Accounting & Fraud Investigation
Certified Fraud Examiners (CFE) executing targeted investigations into internal irregularities and financial fraud:
- Reconstruction of falsified or suppressed financial records
- Embezzlement detection, asset tracing, and damage quantify
- Internal control vulnerability assessments and fraud prevention protocols
Employee Benefit Plan (EBP) Audits
Led by nationally recognized ERISA specialist Maria T. Hurd, CPA, RPA. Auditing retirement plans across Delaware and the United States.
Federal law mandates that retirement plans with 100 or more eligible participants must undergo an annual independent audit by a qualified CPA firm. Retirement plan audits are highly regulated by the Department of Labor (DOL) and the IRS, demanding deep specialized ERISA knowledge.
BLS CPAs audits dozens of retirement plans annually, providing seamless coordination with third-party administrators (TPAs), recordkeepers, and plan sponsors to ensure timely Form 5500 filings.
- Defined Contribution Plans: 401(k), 403(b), and Profit Sharing
- Defined Benefit Pension Plans & Cash Balance Plans
- ERISA Section 103(a)(3)(C) Audits (formerly Limited Scope)
- Full-Scope ERISA Audits
- Health & Welfare Plan Audits
Regulatory Remediation & DOL Programs
When plan operational errors occur, BLS assists fiduciaries with voluntary correction protocols:
- Employee Plans Compliance Resolution System (EPCRS)
- Voluntary Fiduciary Correction Program (VFCP)
- Delinquent participant loan corrections and late remittance calculations
- Delinquent Filer Voluntary Compliance (DFVC) filings
Tax Planning, Compliance & Multi-State SALT
Year-round strategic planning focused on minimizing liabilities, navigating post-Wayfair nexus, and maximizing legislative incentives.
Corporate & Pass-Through Entity Taxation
Comprehensive preparation and structuring for commercial operations:
- Corporate Form 1120 & S-Corporation Form 1120-S
- Partnership & Multi-Member LLC Form 1065
- Bonus Depreciation (§168(k)) phaseout & Section 179 expensing
- Research & Experimental (R&E §174) mandatory amortization strategies
State and Local Tax (SALT) & Nexus Studies
Mitigating multi-state tax exposure for expanding regional businesses:
- Physical, factor-based, and economic nexus determinations
- Pass-Through Entity Tax (PTET) elections to bypass federal SALT caps
- State income, franchise, and gross receipts tax compliance
- Voluntary Disclosure Agreements (VDAs) and state audit defense
Individual & High-Net-Worth Wealth Strategies
Sophisticated personal income tax (Form 1040) mitigation:
- Alternative Minimum Tax (AMT) forecasting and capital gains timing
- Equity compensation planning: ISOs, RSUs, and Non-Qualified Options
- Tax-efficient philanthropic gifting & private foundations (990-PF)
- Retirement distribution optimization & SECURE 2.0 catch-up planning
IRS Controversies & Representation
Experienced defense during federal and state tax examinations:
- IRS audit representation, responses to statutory notices, and appeals
- Employee Retention Credit (ERTC) audit defense and withdrawal filings
- Penalty abatement requests and innocent spouse relief
Delaware Holding Company (DHC) Management
Substantive corporate domicile, nexus defense, and turnkey controllership under Delaware Code Title 30 § 1902(b)(8).
The Delaware Statutory Advantage
Delaware law provides that corporations whose activities within the state are confined solely to the maintenance and management of intangible investments (stocks, bonds, patents, trademarks, notes) and the collection/distribution of investment income are 100% exempt from Delaware state corporate income tax.
However, out-of-state taxing authorities routinely challenge these entities, arguing they lack genuine economic substance. BLS CPAs provides the indispensable physical presence, active local governance, and financial administration required to defend Delaware situs.
Turnkey Corporate Management Deliverables:
- Substantive Delaware Domicile: Physical office space, mail forwarding, telephone, and corporate records
- Local Officer & Director Support: Hosting formal board meetings and maintaining corporate minutes
- Daily Treasury & Banking: Opening accounts, processing wire transactions, and monitoring cash balances
- Complete Controllership: General ledger, multi-state sales tax reviews, and financial statement generation
- Corporate Transparency Act: Managing FinCEN Beneficial Ownership Information (BOI) filings
International Services & Foreign Direct Investment
Guiding foreign corporations entering the U.S. market and domestic taxpayers with overseas assets.
Inbound U.S. Investment
Assisting foreign parent corporations in establishing and maintaining U.S. operations:
- Choice of entity reviews and state registrations
- U.S. subsidiary capitalization and intercompany loan structuring
- Form 5472 filings for 25%+ foreign-owned U.S. entities
- Form 1042/1042-S withholding compliance for foreign payees
Outbound Investment & Foreign Reporting
Assisting U.S. citizens and domestic entities with overseas financial holdings:
- FinCEN Form 114 (FBAR) electronic filing and penalty relief
- FATCA Form 8938 reporting of specified foreign financial assets
- Forms 5471 & 8865 for interests in foreign corporations and partnerships
- IRS Form 6166 Certification of U.S. Tax Residency for treaty benefits
BL&S Technologies • Managed IT & Cybersecurity
Dedicated information technology solutions tailored for professional service firms, corporations, and nonprofits.
Proactive Network Support
24/7 server and workstation monitoring, rapid-response helpdesk, and automated patch management.
Cybersecurity & EDR
Next-gen firewall administration, endpoint detection & response (EDR), email encryption, and threat audits.
Cloud & Microsoft 365
Cloud migration, Azure infrastructure, Microsoft 365 security policies, and paperless office automation.
Ready to Align Your Financial Strategy?
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