Davco Accountancy, LLC

Davco Accountancy, LLC Your One Stop for Affordable Accounting & Virtual Assistance Needs!! NO FOCUS - NO FUTURE!!! Our entire team is committed to meeting those needs.

Established in 1995 and serving the South Bay and Los Angeles areas, Davco Consulting is based on the belief that our customers' needs are of the utmost importance. Bookkeeping is something that is tough for the small business owner. We take the worry out of it. Our Virtual Assistance department will help you with those projects so you can focus on the day to day running of your business. From sta

rt-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. We do not cost you money because we save you money. As a result, a high percentage of our business is from repeat customers and referrals.

Tax penalties can feel like dragging a ball and chain. They may happen even when you’ve done your best to comply with ta...
11/04/2025

Tax penalties can feel like dragging a ball and chain. They may happen even when you’ve done your best to comply with tax law. Don’t panic. Penalty relief may be available. For example, if you suffered a serious illness, were a victim of a natural disaster, or relied on bad advice from the IRS, you may qualify for penalty abatement. A penalty may arise from actions such as filing late, making a late tax payment or missing a deposit. If you receive an IRS notice that you think is incorrect or unjust, you don’t have to tackle it alone. Contact us at 951-214-2058 for help with this matter.

A sound succession plan is a must for every business owner. But even the best-laid strategies can go awry. In fact, it’s...
11/03/2025

A sound succession plan is a must for every business owner. But even the best-laid strategies can go awry. In fact, it’s not unusual for changing circumstances to affect the feasibility of a succession plan. We’d be happy to review the strengths and potential weaknesses of yours. And if you don’t have a succession plan yet, we can help you create one. Please contact us at 951-214-2058.

Individuals with sizable estates can breathe a sigh of relief when it comes to the federal estate tax. Currently, the fe...
10/31/2025

Individuals with sizable estates can breathe a sigh of relief when it comes to the federal estate tax. Currently, the federal gift and estate tax exemption is $13.99 million for individuals ($27.98 million for married couples). This exemption was scheduled to revert to $5 million (plus inflation adjustments) in 2026. But under the One, Big, Beautiful Bill Act, it has been made permanent. For 2026, the exemption will rise to $15 million ($30 million for married couples) and will be adjusted annually for inflation after that. This much-needed certainty provides planning flexibility and enables affluent families to preserve their wealth across generations. Questions? Contact us at 951-214-2058.

Starting in 2026, tax law changes could increase the risk of getting hit by the alternative minimum tax (AMT). This is e...
10/29/2025

Starting in 2026, tax law changes could increase the risk of getting hit by the alternative minimum tax (AMT). This is especially true for high earners. At least some income-based phaseout thresholds for the AMT exemption will drop, and the exemptions will be phased out twice as fast as in 2025. Add to that the impact of larger state and local tax deductions (which aren’t AMT-deductible), and more taxpayers could face the AMT. Call us at 951-214-2058 for help assessing your risk and finding strategies you can implement now to minimize your taxes.

Like race car drivers, business owners need to keep their eyes on certain gauges as they look to outpace the competition...
10/28/2025

Like race car drivers, business owners need to keep their eyes on certain gauges as they look to outpace the competition. Another term for such gauges is key performance indicators (KPIs). These measurements allow you to track your business’s performance in a wide variety of contexts. We can help you choose the optimal KPIs for your operations and strategic goals. Please contact us at 951-214-2058.

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out....
10/27/2025

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out. But if your chart is cluttered, inconsistent or poorly structured, your financial reports will be, too. Clear account groupings, consistent labels and alignment with your reporting goals are essential for meaningful financial insights. Contact us at 951-214-2058 to help design a chart of accounts tailored to your business. We’ll make it detailed enough to guide decision-making, but simple enough to stay manageable.

Does your business incur research and experimentation (R&E) expenses? The One, Big, Beautiful Bill Act reinstates the im...
10/24/2025

Does your business incur research and experimentation (R&E) expenses? The One, Big, Beautiful Bill Act reinstates the immediate deduction for research activities conducted in the United States, beginning in 2025. Before the new law was enacted, R&E expenses had to be capitalized and amortized over five years, beginning on or after Jan. 1, 2022. What if you began to amortize R&E expenses in 2022, 2023 and/or 2024? You can deduct the remaining amount on your 2025 return or split it between your 2025 and 2026 returns, rather than continuing to amortize over what remains of the five-year period. Contact us at 951-214-2058 with questions.

With major tax law changes taking effect this year and next, tax planning is more important than ever. Don’t wait to tal...
10/22/2025

With major tax law changes taking effect this year and next, tax planning is more important than ever. Don’t wait to talk with us until it’s time to prepare your tax return! Let’s review your situation, find opportunities and boost your tax confidence now. Call us at 951-214-2058.

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly ...
10/21/2025

Does your company’s month-end close drag on for days, or even weeks? Speed matters. The longer it takes to post monthly journal entries, reconcile accounts, prepare internal financial statements and investigate variances, the harder it is to identify and respond to red flags and new business opportunities. These tips can help you close the month quickly. For more ideas on how to streamline your closing process without compromising financial accuracy, call us at 951-214-2058.

College costs like tuition, books, computers and, generally, room and board have long qualified for tax-free 529 plan wi...
10/20/2025

College costs like tuition, books, computers and, generally, room and board have long qualified for tax-free 529 plan withdrawals, with no annual limit. For elementary and secondary school expenses, the limit has been $10,000 per year per student, with only tuition qualifying. Starting with expenses incurred after July 4, 2025, additional K–12 expenses like books and instructional materials also qualify, with the cap increasing to $20,000 per year in 2026. Also effective after July 4, 2025, certain credentialing programs qualify. Call us at 951-214-2058 to discuss how to make the most of 529 plans.

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the O...
10/17/2025

Adopting a child is expensive, but adoptive parents may qualify for a tax break to offset some of the costs. Under the One, Big, Beautiful Bill Act (OBBBA), the tax break got better for some parents. For 2025, the maximum adoption credit is $17,280 of qualified expenses, with phaseouts for higher-income parents. Under prior law, the credit was nonrefundable, meaning that it was limited to the taxpayer’s federal tax liability. However, under the OBBBA, up to $5,000 of the adoption credit is refundable, starting in 2025. After 2025, the refundable amount will be indexed for inflation. Any nonrefundable amount can be carried forward. There may also be state tax benefits. Questions? Contact us at 951-214-2058.

A qualified personal residence trust (QPRT) allows you to give your home to your children today while enjoying the right...
10/15/2025

A qualified personal residence trust (QPRT) allows you to give your home to your children today while enjoying the right to live there for a set number of years. The home is removed from your taxable estate at a reduced value for gift tax purposes (provided you survive the trust’s term). At the end of the term, your beneficiaries own the home. You may continue to live there beyond the end of the term if the trustees or owners agree and you pay fair market rent. Contact us at 951-214-2058 with questions about QPRTs or other estate planning ideas for reducing taxes.

Address

21515 Hawthorne Boulevard Ste 200
Torrance, CA
90505

Opening Hours

Monday 9am - 6pm
Tuesday 9am - 6pm
Wednesday 9am - 6pm
Thursday 9am - 6pm
Friday 9am - 6pm
Saturday 9am - 1am

Telephone

+14242478641

Website

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