Business Details
50+ Years
experience
Trusted Accounting and Tax Services in Rochester, NY
Flaherty & Salmin has served clients with exceptional tax, accounting, and financial planning expertise since 1958. Our team brings decades of experience in Affordable Housing/Community Development, business consulting, peer review services, and personal accounting. We are qualified to perform peer reviews for other accounting firms through the AICPA's National Peer Review Committee. Our professionals stay current with evolving tax regulations to provide strategic, client-focused solutions. We specialize in guiding clients through all stages of affordable housing projects, from development to exit strategies.Our audit and assurance services cover financial statements, employee benefit plans, and compliance certifications. We offer tailored tax planning and preparation for individuals and businesses across multiple entity structures. Our team's deep industry relationships with national syndicators, legal advisors, and housing agencies enhance our service delivery. We combine technical expertise with personalized service to help clients achieve their financial goals. With a legacy of excellence spanning over 65 years, we remain committed to delivering timely, accurate financial support to our clients.
Services
Affordable Housing Development
Peer Review Services
Tax Preparation
Audit & Assurance
Financial Planning
Estate Planning
IRS Representation
Mortgage Calculations
Debt Consolidation
Retirement Planning
Details
- Year established: 1958
Highlights and features
- We have over 65 years of experience in accounting and tax services
- Our team specializes in Affordable Housing/Community Development tax credits
- We are qualified peer review providers for the AICPA's National Peer Review Committee
- Our professionals maintain active memberships in key industry quality centers
- We offer comprehensive services across all stages of housing development projects
Associations and certifications
- American Institute of Certified Public Accountants (AICPA)
- National Peer Review Committee of the AICPA (NPRC)
- AICPA Employee Benefit Plan Audit Quality Center
- AICPA Governmental Audit Quality Center
Services
Affordable Housing Development
We provide comprehensive support for affordable housing projects from development through exit strategies. Our expertise includes tax credit analysis, compliance certifications, and agency applications. We specialize in low-income housing tax credits, historic tax credits, and renewable energy incentives while maintaining strong relationships with housing agencies and legal advisors.
Peer Review Services
As AICPA-approved reviewers, we conduct system reviews and engagement reviews for accounting firms. Our team assists with corrective actions, internal monitoring, and peer review consulting while maintaining membership in key quality centers. We help firms enhance their quality control systems and audit practices through professional, educational reviews.
Tax Preparation
We offer complete tax preparation services for individuals and businesses across all entity structures. Our professionals stay current with evolving tax regulations to provide strategic planning solutions. Services include tax elections, audit representation, and compliance filings tailored to each client's specific needs and circumstances.
Audit & Assurance
Our audit services cover financial statements, employee benefit plans, and compliance certifications. We perform 50% aggregate basis certifications, borrower tax certifications, and various agency compliance reviews. We also offer agreed-upon procedures engagements and attestation services for commercial entities and nonprofit organizations.
Financial Planning
We provide comprehensive financial planning covering retirement strategies, estate planning, and debt management. Our services include mortgage analysis, loan calculations, and personal finance tools. We help clients develop customized plans for wealth preservation and growth through strategic tax and investment planning.
People
Paul Salmin
Partner
Paul Salmin leads the peer review practice at Flaherty & Salmin. He serves on the Pennsylvania Institute of Public Accountings Peer Review Committee and previously chaired the New York State Peer Review Committee. With over 25 years of experience in accounting firm quality control assessments, he specializes in system reviews and audit practice improvements.
Tom Nolan
Partner
Tom Nolan co-leads the peer review practice at Flaherty & Salmin. He brings extensive expertise in accounting firm quality control systems and serves on the Pennsylvania Institute of Public Accountings Peer Review Committee. With decades of experience in audit quality assurance, he specializes in helping firms implement corrective actions and improve their audit practices.
Questions
What accounting services do you offer for affordable housing projects?
We provide comprehensive services for all stages of affordable housing development including tax credit analysis, compliance certifications, and exit strategies.
Are you qualified to perform peer reviews for other accounting firms?
Yes, we are approved by the AICPA's National Peer Review Committee and have conducted peer reviews nationwide for over 25 years.
What tax services do you provide for individuals?
We offer complete tax preparation, estate planning, retirement planning, and IRS representation services for individual clients.
Do you offer audit and assurance services?
Yes, we provide financial statement audits, employee benefit plan audits, and compliance certifications for commercial and nonprofit organizations.
What areas do you serve?
While based in Rochester, NY, we serve clients throughout New York State, Pennsylvania, and nationally through our peer review practice.
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Reviews (4)
Michelle Farina
Jan 04, 2022
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Positive:Professionalism,Responsiveness
Yvonne has been the best accountant Ive had since opening my business 12 yrs ago. Had to go through a couple bad seeds to find the gem! I highly recommend her and refer all my self employed friends to her. Shes AMAZING!
Yvonne has been the best accountant Ive had since opening my business 12 yrs ago. Had to go through a couple bad seeds to find the gem! I highly recommend her and refer all my self employed friends to her. Shes AMAZING!
Michele
Oct 21, 2019
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I am so thankful for the extensive help, thorough information, and guidance I have received from Gary, Steve, and staff at the front desk. The attention to detail, willingness to give time and informative consultations, as well as their kindness and respect are greatly appreciated.I would highly recommend this firm!
Helen Kuntz
Aug 29, 2019
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I found this company to be very professional. The staff, very courteous,
Knowledgeable, efficient in service. I would highly recommend
Knowledgeable, efficient in service. I would highly recommend
Kelsey Lunt
Oct 06, 2018
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I was not impressed with the services I received from this firm. I contacted Jim Debellis last year as a new client who had recently opened a small business, and was thus out of my element, which I was very clear about in my first, and ONLY, meeting with a new accountant. I brought all my paperwork with me and had my own profit and loss statement prepared from an outside bookkeeper. Well, I had to follow up twice initially to make sure my return was even sent; I submit all the information for my return in the beginning of January and it wasn't until March when I reached back out and found it had
