Cynthia M VerDuin, CPA
Cynthia brings value to clients with over 25 years of experience in tax and accounting. She has assisted start-up businesses, internet marketing companies, software companies, manufacturers, entrepreneurs, engineers and other service providers, medical professionals, real estate investors, tax-exempt organizations, international clients, and high net worth individuals, estates and trusts. Her clients’ size ranges from $50,000 to $30 million in sales. Her passion is finding the best tax strategy/structure for your company, trust/estate or non-profit. Cynthia began her practice at one of the “Big Eight” accounting firms – Arthur Andersen. She practiced with large local accounting firms prior to starting and growing her own beginning in 2007.
Cynthia uses her tax, accounting, and entrepreneurial business experience to assist with filing of individual, estate and trust (income) tax returns, provide analysis of tax implications of proposed business structures, estate and will documents, ascertain present value of insurance settlement amounts, tax impact of divorce asset allocations, and providing general business consulting. She graduated from Kent State University with a BA in Accounting with honors and passed the CPA examination on the first attempt. Cynthia is also a licensed Physical Therapist and commercial hot air balloon pilot.
Cynthia’s affiliations include:
- American Institute of Certified Public Accountants
- Treasurer, Southwest Conference of the United Church of Christ, April 2018, Endowment Fund Committee 2017-present
- Treasurer, Tucson Audubon Society, April 2020 to present, board member since 2018.
- Casas Adobes Community United Church of Christ Finance Committee 2014-2018, Search committee 2017 – 2018
- Mercedes Benz of the Western Reserve Board Member 2009-2014
- Member of the Legacy Committee of the Federated Church 2008-2010, Chair Finance and Stewardship Board of The Federated Church 2006-2008
- Treasurer Chagrin Falls Park Community Center Board 2004-2007
In tax planning and preparation, Cynthia has demonstrated that her process finds tax deductions, credits and strategies that others miss. She has, for example:
- Assisted in PPP applications and forgiveness applications.
- Obtained client refunds utilizing new NOL carryback law.
- Established start-up companies bookkeeping and reporting for business and grantor requirements.
- Saved over $90,000 and $44,000 in taxes for several clients due to prior accountant’s missed credits and deductions.
- Reduced taxes by $20,000-$40,000 by applying cost segregation accelerated depreciation rates.
- Reduced clients’ individual taxes by $20,000 and $45,000 by applying unused carry forward passive activity and tax credits.
- Merger and acquisition tax planning and support.
- Structured interstate companies to legally minimize state and local taxes.
- Assisted in employee retention and current tax reduction by implementing profit sharing and stock option plans
- Avoided additional taxes through successful support of IRS and state and local tax audits.
- Donated hours to local non-profits in finance position and through tax return preparation.
- July 30th: Quarterly Payroll tax return filings
- August 9th: Commercial Activity Tax (CAT) for quarterly filers
- September 15th: Corporation, Partnership, Estate and Trust tax extension deadline
- September 30th: Quarterly Payroll tax return filings
- October 15th: Individual tax extension deadline