Our Services

Fast, Reliable, Accurate Services from Bob Petrucelli, CPA in North Kingston RIPersonal Income Tax Planning and Preparation

In terms of knowledge and experience in this area, I have a Masters Degree in Taxation.

In addition, I have a personal commitment to keep current on tax law changes and the resulting tax planning opportunities that they present. I annually take continuing education courses above the minimum annual 40 hour per year requirement.

Clergy Income Tax Planning and Preparation

I have worked with clergy and their particular tax needs over the past 15 years. Clergy (whether minister, rabbi, or priest) are entitled to a “double deduction” for some of their housing expenses if those expenses are designated in advance by their church or temple under the general heading “designated housing allowance.”

In addition, clergy who are “employed” by their church or temple are considered employees for income tax but self employed for Social Security purposes. The tax savings are significant, but the laws in this area are complex. I am able to assist you in these areas.

Personal Financial Planning

I became a Certified Financial Planner in 2001. I am able to assist you in the areas of setting up and monitoring a personal budget, setting out a plan to become debt free, and financial planning for college and retirement.

I am not licensed to make specific investment recommendations, but I work with financial planners who are able to assist you in that area.

QuickBooks Consulting

I am able to serve as a liaison between your QuickBooks bookkeeper and your outside CPA firm who prepares your reviewed or audited financial statements.

I am able to serve as your outside CPA if your business does not need year-end reviewed or audited financial statements.

Small Business Consulting

I’ve been told that I have very different focus than most CPAs. From my perspective, you are in business to become as profitable as you can be.

I do not always subscribe to the knee-jerk response of the typical CPA at year end – if you have large profits, “spend down the profits to minimize your taxes.”

My approach is very different – typically, in a world without income taxes, would you spend money on new equipment that you may not really need at this time? Does it make sense to put significant money in a profit sharing plan in today’s current low income tax rate environment if you will be taking out those funds when income tax rates are substantially higher?

The answer – maybe …

I suggest that your first priority is to retain significant working capital in the business to enable your business to survive, and even prosper, in an economic downturn as we are in the midst of experiencing. If this approach resonates with you …give me a call.

Payroll Preparation

I utilize outside payroll processing firms almost exclusively instead of my offering those services in-house. Payroll processing firms are able to efficiently prepare your payroll at a fraction of what I would need to charge for these services.

It is in the best interest of the client that you use these firms – I work with several.

QuickBooks Bookkeeping

I use outside bookkeepers who are QuickBooks Certified Pro Advisors for your periodic bookkeeping needs. It is in your best interest that you pay qualified bookkeepers bookkeeping rates for their services, rather than CPA firm rates.

Conflicts of Interest

I desire to avoid real or perceived conflicts of interest.

I accept no commissions or referral fees from any firm.

I do not manage investment portfolios.