Daniel Dennis & Company LLP

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Dedham, MA
Daniel Dennis & Company LLP

DD&Co is a small- to mid-size CPA firm located in Dedham and serves the greater New England region.

Daniel Dennis and Company LLP was founded in 1981 and is a full service certified public accounting firm based in Dedham Massachusetts providing the highest quality audit, tax, accounting and consulting services to the affordable housing, not-for-profit, employee benefit plans and charter school industries. We have grown by expanding our client base, without the use of mergers and acquisitions, allowing us to maintain our unique culture and identity.

03/20/2026

Companies often prepay advertising, insurance, rent and other items. Rather than immediately report the full prepaid amount as an expense on the income statement, companies that use accrual-basis accounting methods may need to recognize a prepaid asset on the balance sheet. The remaining balance is gradually deducted as an expense as it’s used to generate revenue. This financial reporting concept sometimes trips up business owners and bookkeepers. We can help you understand the accounting rules and decide whether the benefits of prepaying outweigh the costs. Contact us if your business is transitioning to accrual accounting or you’re unsure how to expense prepayments.

03/17/2026

The balance sheet is more than a snapshot of your assets and liabilities at one point in time. You can also use it to analyze historical performance and plan for future growth. Taking your balance sheet to the next level requires context, judgment and forward-looking analysis. To truly understand your financial position, consider assets and liabilities that may exist beyond reported numbers and prioritize accounts that matter most to your business. Then use key financial ratios to assess strengths, identify risks, and set realistic goals and forecasts. Contact us to learn how to turn your balance sheet into a strategic diagnostic tool.

03/11/2026

Some amounts reported on your company’s financial statements rely on management’s estimates about uncertain future outcomes. Because accounting estimates can significantly affect reported results, they require special attention during audit fieldwork. By testing inputs, challenging potential bias and performing independent analyses, auditors help ensure estimates are reasonable and supported by reliable information. As audit season gets underway, now’s a good time to review significant estimates and address gaps in documentation. Taking these proactive measures can streamline the audit process and minimize delays. Contact us with questions or for assistance preparing for your audit.

03/03/2026

How many directors does your nonprofit board really need? Smaller boards offer focus and efficiency but risk burnout and limited perspectives. Larger boards bring diverse expertise and a shared workload but can struggle with engagement and staffing demands. Ultimately, there’s no magic number. Whether you’re forming or resizing your board, consider director responsibilities, desirable skills and expertise, fundraising expectations, and staffing resources to find the right balance.

02/26/2026

Although your nonprofit should monitor broader economic conditions to guard against potential external risks, don’t overlook internal red flags that may signal deeper financial health concerns. Key warning signs include budget variances without clear reasons, decreased donor confidence and giving, incomplete or unreliable financial reporting, and unchecked executive authority. These issues usually develop gradually. Boards and leaders who monitor trends, strengthen controls and enforce accountability can take corrective action before small problems become a crisis. We can help.

02/23/2026

The use of data analytics isn’t just for large organizations; it’s increasingly within reach for not-for-profits of all sizes. By using the right tools and focusing on the right data, your nonprofit can better identify underlying issues, more accurately measure impact, effectively target fundraising efforts and make confident, fact-based decisions. Not sure which metrics would be most meaningful to your organization? Or need to connect with data analytics professionals about affordable solutions? We can help. Contact us to get started.

02/20/2026

As the new year begins, nonprofit leaders have a timely opportunity to renew their commitment to delegation. While the desire to try to do everything yourself likely comes from deep dedication, it can limit staff growth and dilute your impact. Effective delegation means focusing your time on mission-critical work, thoughtfully assigning recurring or specialized tasks, and empowering staff with clear expectations and flexibility. When done well, delegation strengthens teams, develops future leaders and enables a more sustainable, fulfilling approach to nonprofit leadership.

02/17/2026

Nonprofits should routinely consult financial professionals about IRS compliance and other financial and tax matters. But your executives and board members also need to monitor certain financial ratios. These four generally provide critical information to most nonprofits: 1) percentage spent on program activities, 2) percentage spent on fundraising, 3) current ratio (which measures a nonprofit’s capacity to pay its bills) and 4) reserve ratio (which represents reserves available during temporary shortfalls). Other ratios may benefit your internal decision-making. Contact us to discuss the right ratios and how to evaluate them.

02/12/2026

If many of your nonprofit’s staffers are parents of young children or caregivers to older relatives, they may welcome access to dependent care Flexible Spending Accounts (FSAs). These tax-advantaged accounts enable employees to save and use pretax dollars for childcare and other qualified expenses. But to make them available, you’ll first need to establish a dependent care assistance program. Communicating the benefits and risks to participants will be critical. FSA balances don’t roll over from year-to-year (“use it or lose it”), and staffers can’t take their account with them if they leave your employment. Contact us for more information.

02/09/2026

The term “fiduciary” gets thrown around a lot in a variety of contexts. But for nonprofits, it generally refers to board members’ obligation to protect and look out for the organization they’re serving. Specifically, the three primary nonprofit board fiduciary duties are 1) care, or exercising reasonable vigilance in overseeing financial and operational activities, 2) loyalty, or acting in the nonprofit’s best interests, and 3) obedience, which means adhering to the organization’s bylaws and applicable federal, state and local laws. Board members also need to avoid conflicts of interest. Contact us for help understanding fiduciary duties.

02/06/2026

Using independent contractors can save nonprofits money. There’s no long-term commitment, and the contractor pays self-employment tax rather than your organization having to pay the employer portion of employment taxes. You can also save on benefits and administrative burdens. But if the DOL, IRS or other government agency finds you’ve misclassified an employee as a contractor, it can be costly. In general, no single rule or test is determinant. Factors such as your degree of control over the worker and the worker’s opportunity for profit or loss are considered. Contact us with questions.

Address

990 Washington Street Ste 203
Dedham, MA
02026

Telephone

(617) 262-9898

Website

http://www.danieldennis.com/

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