Business Details
37 Years
experience
Your Trusted Partner for Accounting Solutions
Terranova & Associates has been delivering comprehensive accounting and financial services since 1989, combining over 80 years of collective expertise with a client-centric approach. Our team of certified professionals specializes in tax preparation, audit assistance, bookkeeping, and strategic financial planning for both individuals and businesses. We prioritize client education to empower informed decision-making, offering tailored solutions that address unique financial goals.With a proven track record in business consulting and virtual CFO services, we help clients optimize profitability while maintaining compliance. Our commitment to excellence is reflected in our decades-long relationships with local, national, and international clients, ensuring personalized service that adapts to evolving financial landscapes.
Services
Tax Preparation
Bookkeeping
Financial Planning
Business Consulting
Audits & Reviews
Payroll Processing
Virtual CFO Services
Litigation & Forensic Accounting
Cash Flow Forecasting
Audit Assistance
Details
- Year established: 1989
Highlights and features
- We offer over 30 years of experience in accounting and tax services.
- Our team provides comprehensive solutions from tax preparation to virtual CFO services.
- We prioritize client education to ensure informed financial decisions.
- We deliver tailored strategies for businesses and individuals alike.
- Our virtual CFO services combine cost-efficiency with expert financial guidance.
What people say
Trusted expertise
Reliable audit support
Personalized financial guidance
Decades of experience
Services
Tax Preparation
Our tax preparation services ensure accurate and timely filing for individuals and businesses. We handle federal and state returns, optimize deductions, and provide strategic advice to minimize liabilities. With certified CPAs, we guarantee compliance while maximizing refunds.
Bookkeeping
We provide organized bookkeeping solutions to maintain precise financial records. Services include payroll management, financial statement preparation, and audit-ready documentation. Our systems ensure businesses track expenses, manage cash flow, and meet regulatory requirements efficiently.
Virtual CFO Services
Access expert financial leadership without full-time costs. Our virtual CFO services offer strategic planning, cash flow forecasting, and profitability analysis. We integrate with businesses to provide actionable insights, optimize processes, and support growth through data-driven decision-making.
Audit Assistance
We guide clients through tax audits with professional representation and documentation. Our team ensures compliance, addresses IRS inquiries, and minimizes risks. With decades of experience, we provide peace of mind during audits while safeguarding client interests.
Business Consulting
Our consulting services focus on business growth and financial optimization. We develop strategic plans, improve operational efficiency, and offer advisory support for expansion. Clients benefit from tailored solutions that align with long-term goals and market demands.
People
Thomas D. Terranova, Jr.
Owner, Founder
Thomas D. Terranova, Jr., CPA, founded the firm in 1989 with a vision to provide personalized accounting solutions. With over 30 years of experience, he specializes in tax strategy and business consulting.
Yvonne Rep
Senior Manager
Yvonne Rep, CPA, brings extensive expertise in financial planning and audit management. As Senior Manager, she oversees client relationships and ensures delivery of high-quality, compliant accounting services.
Questions
What accounting services do you offer for businesses?
We provide bookkeeping, audit assistance, payroll processing, financial statements, and strategic consulting tailored to business needs.
How can a virtual CFO benefit my company?
A virtual CFO offers cost-effective financial leadership, including cash flow management, forecasting, and growth strategies without full-time overhead.
Do you handle tax preparation for individuals?
Yes, we prepare federal and state tax returns for individuals, optimizing deductions and ensuring compliance with tax regulations.
What areas do you serve?
We serve clients in Danvers, Boston, nationwide, and internationally through our virtual services.
Can you assist with audit representation?
Yes, our team provides audit support, including documentation preparation and IRS communication to minimize client liability.
Reviews (7)
Angelo Black
Jan 05, 2022
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Positive:Professionalism,Quality,Responsiveness,Value
I've been with Terranova for decades! Wouldn't have anyone else prepare my families' tax returns. I recommend him to all my friends looking for an excellent CPA!
I've been with Terranova for decades! Wouldn't have anyone else prepare my families' tax returns. I recommend him to all my friends looking for an excellent CPA!
Bob Gentilucci
Dec 12, 2021
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Positive:Professionalism,Quality,Responsiveness,Value
Tom has been my account for about 30 years. The fact I am with him that long just about says it all.
Tom has been my account for about 30 years. The fact I am with him that long just about says it all.
Daniel Drew
Oct 19, 2021
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Positive:Professionalism,Quality,Responsiveness,Value
Tom his team are an invaluable resource for my business and my families tax planning
Tom his team are an invaluable resource for my business and my families tax planning
Linda J.
Jul 18, 2021
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Positive:Professionalism,Quality,Responsiveness
Always helpful and available to answer tax questions, not just during tax season.
Always helpful and available to answer tax questions, not just during tax season.
Jimmy King
Jun 29, 2021
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Positive:Professionalism
Excellent service, very fast response to any questions and concerns. Turn around time is AMAZING
Excellent service, very fast response to any questions and concerns. Turn around time is AMAZING
Maria Hewes
May 23, 2021
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They did my tax return for 2020. This is the first time I have used them. They are excellent. I am so happy with the service they provided. They are very thorough and explained everything to me every step of the way. Very easy to contact. They did e-file which also helped me out a lot. I will definitely be using this firm from now on for filing my annual taxes. I highly recommend them.
Scott Carriere
May 05, 2021
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I've been using Terranova & Associates for over 30 years for both business and personal taxes. I have recommended them to many friends and colleagues because of the quality of services they offer. This company is trustworthy and goes far beyond the call to work in your best interest. From complicated tax issues to payroll, financial planning and even mortgages, this is a home run one-stop.
