Business Details
37 Years
experience
Comprehensive Accounting Solutions in Danvers, MA
Terranova & Associates has been delivering comprehensive accounting solutions since 1989, serving individuals and businesses with expertise honed over three decades. Our team of certified professionals specializes in tax preparation, audit assistance, bookkeeping, financial planning, and business consulting, tailored to meet each client's unique needs. We prioritize client education, empowering informed financial decisions through personalized guidance and transparent communication. With a legacy of trust built on consistent service quality, we combine technical proficiency with a commitment to understanding our clients' goals.Our virtual CFO services provide strategic financial management without the overhead of a full-time executive, while our payroll processing solutions streamline business operations. Backed by 80 years of collective audit experience, we offer assurance services that satisfy both regulatory requirements and stakeholder expectations. Located in Danvers, Massachusetts, we serve local, national, and international clients, maintaining a focus on precision and compliance across all financial matters.
Services
Tax Preparation
Bookkeeping Services
Financial Planning
Audit Assistance
Business Consulting
Payroll Processing
Virtual CFO Services
BOI Reporting
Details
- Year established: 1989
Highlights and features
- We offer 30+ years of accounting expertise with certified professionals
- Our virtual CFO services provide strategic financial leadership at reduced costs
- We combine audit assistance with 80 years of collective industry experience
- Our personalized approach addresses both individual and business financial needs
- We maintain transparent communication while handling complex tax matters
Associations and certifications
- CPA (Certified Public Accountant)
Services
Tax Preparation
Our certified professionals handle complete tax preparation for individuals and businesses. We ensure compliance with federal and state regulations while maximizing deductions. Clients receive strategic guidance to optimize their tax positions for the current and future years.
Virtual CFO Services
Access expert financial leadership without full-time executive costs. Our virtual CFO services include cash flow forecasting, financial modeling, and strategic planning. We help businesses implement efficient processes and improve profitability through data-driven insights.
Audit Assistance
We provide professional representation during tax audits with 80 years of combined experience. Our team prepares documentation, communicates with authorities, and ensures compliance. Services cover both individual and business audit scenarios with a focus on minimizing liabilities.
Bookkeeping Services
Maintain accurate financial records with our organized bookkeeping solutions. We manage accounts payable/receivable, payroll processing, and financial statement preparation. Our systems ensure timely reporting and support informed business decision-making.
Financial Planning
Develop personalized financial strategies for retirement, education funding, and wealth preservation. Our planning services integrate tax considerations with long-term goals. We help clients create sustainable financial roadmaps aligned with their life objectives.
People
Thomas Terranova Jr.
Owner and Founder
CPA and PFS certified accountant with 30+ years of experience. Founded firm in 1989 after education at Bentley University. Specializes in comprehensive accounting solutions and client relationship management.
Thomas Terranova III
Senior Accountant
MST credentialed accountant with decade of experience. Specializes in tax preparation and financial reporting. Pursuing CPA certification while managing complex accounting needs for business clients.
Yvonne Rep
Certified Public Accountant
CPA with 10+ years of international accounting experience. QuickBooks certified professional handling business accounting needs. Provides expertise in financial statement preparation and tax compliance.
Sylvie Terranova
Staff Accountant
Co-founder with extensive bookkeeping expertise. Manages day-to-day accounting operations and client support. Known for exceptional problem-solving skills and personalized client service approach.
Ida Terranova
Office Manager
Oversees office operations with international experience. Coordinates team activities and client communications. Ensures smooth workflow and timely service delivery across all accounting functions.
Questions
What accounting services do you offer for businesses?
We provide tax preparation, audit assistance, bookkeeping, financial statements, payroll processing, and business consulting services tailored to business needs.
Do you handle individual tax preparation?
Yes, we offer comprehensive tax preparation services for individuals including federal and state returns, with strategic planning for optimal tax positions.
What is BOI reporting and do you assist with it?
BOI reporting identifies business ownership for FinCEN compliance. We help clients meet federal requirements with accurate filings before the January 1, 2025 deadline.
How can I securely send documents to your firm?
Use our website's secure upload portal for documents or RightSignature platform for electronic document signing and submission.
What payment methods do you accept?
We accept online payments through our secure portal, as well as checks and money orders sent to our Danvers, MA office.
Do you offer virtual CFO services?
Yes, our virtual CFO services provide strategic financial management without full-time executive costs, including cash flow forecasting and business planning.
