Amanda Socha Named Among West Suburban 30 Under 40

Selden Fox is excited to announce that vice president Amanda Socha is named among the 30 Under 40 Regional leaders by the West Suburban Chamber of Commerce and Industry (WSCCI). The 30 leaders recognized were selected from numerous nominations reviewed by WSCCI’s selection committee. Criteria for nominations included passion for one’s company’s mission, leadership qualities, and a demonstration of significant contributions to the region.

Amanda is a member of Selden Fox’s accounting solutions team. She works with nonprofit organizations and associations, businesses, and government entities on their day-to-day accounting needs, in addition to preparing and compiling financial statements and custom reports. She joined Selden Fox in 2008 as an auditor. Almost a decade later, Amanda’s dedication to her clients led her transition to the firm’s accounting solutions team. She is committed to providing clients efficient results while achieving compliance with accounting standards and taxing regulations.

Amanda graduated from Illinois Wesleyan University with a bachelor’s degree in accounting and is a licensed certified public accountant. She is a member of the American Institute of Certified Public Accountants and the Illinois CPA Society.

 

A Message from Selden Fox’s President

The wellness and health of our Selden Fox team and our clients is always our priority. In light of our current, new reality, we’re taking necessary precautions to keep our team safe while remaining committed to serving your audit, tax, accounting, needs. A majority of our team is now working remotely in our secure environment and remains readily available to each of you. Email and phone are the primary communication tools in light of the social distancing recommendations. We can also provide you a secure portal to transmit documents to us, and we can set up teleconference and video conference meetings in place of in-person meetings if you wish.

Our office remains open although we are assessing the situation daily with the continued health of our team and our guests in mind. We will continue to remain in communication with you via email and our website on any operational changes that may impact you.

MGI Worldwide Member Selden Fox Announces MGI’s Merger with CPAAI

As a member of MGI Worldwide, Selden Fox, is pleased to announce MGI Worldwide and association CPAAI have announced they will be merging as of January 1, 2020. This new international network of accounting firms will boast 257 member firms, combined revenues approaching $1 billion, and 9,000 professionals across 100 countries.

The deal was finalized recently in Dubai during the Annual Global Conference of MGI Worldwide. The newly created organization will rank 16th in the current global accountancy network ranking.

As an MGI Worldwide and MGI North America member, the merger offers Selden Fox and its clients greater resources, access to more expertise in new jurisdictions, a wider range of services and stronger brand recognition. The two groups’ well-established markets, with CPAAI especially strong in the United States, China, and Mexico and MGI Worldwide with a greater global reach, are highly complementary.

Selden Fox Names New Vice Presidents

Selden Fox is pleased to announce that Daniel J. DiMarioAmanda Socha, and John Wojcik have been named vice president.

DiMario’s work covers the preparation and review of business, fiduciary and individual tax returns, including returns for family offices and high-net-worth individuals. He regularly communicates with clients on changes in federal, state and local income tax laws and compliance issues, and details how these changes will impact clients’ income tax liability. DiMario earned his bachelor’s degree in accountancy from Rockford College, and his master’s of taxation and his law degree from Northern Illinois University.

Socha began her career at Selden Fox in 2008 as a member of the audit department. This fast pace and ever-changing environment provided her with limitless opportunities and experience with a variety of industries, including nonprofit entities, private educational institutions, municipalities, trade associations, and privately held businesses. Almost a decade later, Socha transitioned to the firm’s accounting solutions team. Her personable attitude and attentiveness enable her to tailor each project to the distinctive needs of the client. She is devoted to offering guidance and accounting services to facilitate a learning environment with long-term benefits for clients and their staff. She graduated from Illinois Wesleyan University and is a licensed certified public accountant.

Wojcik provides tax planning, research, consulting, and compliance services working with a variety of the firm’s clients, including individuals, family businesses, business owners, and closely held businesses. He earned two bachelor’s degrees in accounting and finance from Illinois State University and his MST in taxation from Northern Illinois University – College of Business. He is a licensed public accountant in Illinois and is also a Certified Valuation Analyst.

Selden Fox Announces Promotions

Selden Fox is very pleased to announce the following promotions among its accountants. Brian Davis and Kim Szychlinski have been promoted to audit supervisor. Brett Bayer and Andrew Forgue have been promoted to senior tax accountant. Bianca Cimbalo and Andrew Miller have been promoted to senior auditor.

Davis is active in all aspects of an audit, including audit fieldwork and report preparation, as well as tax preparation. He joined Selden Fox in 2014 after earning his bachelor’s degree in accounting from Miami University of Oxford, Ohio. He is a Certified Public Accountant.

Szychlinski takes responsibility for the audit fieldwork for a variety of client audit engagements. She joined the firm in 2013 after earning her bachelor’s degree in accounting and business administration from Augustana College (Rock Island, IL).

Bayer conducts tax research in coordination with tax compliance and planning for both personal and corporate clients, preparing tax returns for individuals and closely held businesses. He earned his bachelor’s degree in accounting and finance from Elmhurst College where he was also a member of the football and baseball teams. He joined Selden Fox in 2017.

Forgue prepares both individual and corporate tax returns and performs tax research related to tax compliance and planning for both personal and corporate clients. He earned his bachelor’s degree in accounting and finance from DePaul University and joined the firm in 2017.

Cimbalo assists with audit fieldwork and helps prepare financial statements and management letter comments. She joined the firm in 2017 after graduating from Northern Illinois University where she earned a bachelor’s degree in accounting and a master’s degree in accounting science.

Miller handles the audit fieldwork for several client engagements taking responsibility for specific portions of audits, compilations, and reviews. He joined the firm in 2016 after graduating from Augustana College (Rock Island, IL) where he earned his bachelor’s degree in accounting and finance.

Selden Fox Named Large Firm of the Year by MGI Worldwide

Selden Fox is proud to announce the firm has been named the winner of the MGI Worldwide 2018 Large Firm of the Year Award at the prestigious MGI Worldwide Awards, which took place in San Francisco, California in October.

The award was presented to the firm at the MGI Global meeting and gala dinner which brought together 100+ delegates from MGI firms from across the globe. Selden Fox has been a proud member of MGI for nearly 10 years.

MGI Worldwide CEO Clive Bennett remarked, “Our well-deserved winners have done an exceptional job in their firms to innovate and push the boundaries. We hope this inspires many other members from around the world with new ideas and ways of working so they can compete next year.”

The MGI Worldwide Awards celebrates the exceptional standard of work among member firms and recognizes those firms that have gone the extra mile to make their membership and involvement in MGI a true success. Criteria for the Large Firm of the Year award included more the $6.6 million in revenue; a firm that has: made special efforts to benefit from its MGI membership; made investments in time and resources to engage with MGI firms; developed business with other MGI firms; promoted MGI and its brand; successfully grown business and MGI brand; and worked in the MGI management.

MGI Worldwide is a leading international network of independent audit, tax, accounting and consulting firms with more than 5,000 professionals in 260 locations in 88 countries.

Richard T. DeSimone & Co. Merges with Selden Fox

The shareholders of Richard T. DeSimone & Company—a niche accounting firm with a 50-year history of serving the automobile dealer industry—Tom DeSimone and Garth Reimel are very pleased to announce their merger with Selden Fox, Ltd. of Oak Brook. Tom and Garth join Selden Fox as vice presidents of dealer operations and will lead the firm’s automobile practice.

“With the addition of Tom and Garth, we will have the expertise to serve a new niche industry and grow our client roster,” commented Joseph Meyer, president of Selden Fox. “Even more so, we are further developing our team with two accomplished professionals that are an ideal fit with the culture we are fostering and the vision we have set for the future of the firm.”

“Over the years, we have grown our practice to a size which requires additional personnel and resources available from a larger firm. We were looking for a firm with the close-knit personal touch philosophy we have committed to our clients over the years,” said Tom. “We are excited for this transition as we see significant potential for our clients as we join a team of like-minded professionals committed to the same values and client service standards we have been dedicated to at our own firm.”

Tom is the son of Richard, the founder of Richard T. DeSimone & Co. Professionals. His experience over the past 30 plus years includes corporate accounting; tax; financial statement reporting; individual income taxes; representation in IRS audits, both corporate and individual; and a variety of other financial matters. Tom earned his Bachelor of Science degree in accountancy from Bradley University (Peoria, Illinois) and is a Licensed CPA.

Garth’s practice includes tax planning, tax research, and compliance for individuals, businesses (corporations, partnerships, and proprietorships), trusts, and estates. He received his Bachelor of Science degree in accountancy from the University of Illinois and is a Licensed CPA.

Selden Fox, celebrating its 40th anniversary this year, is a well-respected audit, tax, accounting, and consulting firm in Oak Brook with nearly 60 employees, including 48 professional staff—35 of whom are CPAs. Selden Fox offers an ever-expanding array of critical business and accounting services for companies and organizations of all sizes, as well as their owners and executives.

Automobile Dealership Accounting

The services available to those in the automobile industry include the following:

  • Certified Audits
  • IRS Representation
  • Accounting Reviews & Compilation
  • Comparison of Operations
  • Buy-Sell Agreements
  • Internal Controls/Expense Analysis
  • LIFO Calculations & Issues
  • Accounting Systems & Procedures
  • Inventory Cap Cost 263A
  • Consultation & Training of Office Staff
  • Income & Business Taxes
  • Banking Matters
  • Merger & Acquisition Consulting
  • Business Valuations
  • Estate Planning Resources
  • Estate Preservation

Mike Kram Promoted to Audit Vice President

Selden Fox, Chicago CPA Firm, is happy to announce the promotion of Mike Kram to Vice President. Mike joined the firm more than ten years ago after graduating from Illinois State University. He possesses a strong work ethic and is dedicated to providing clients with a high level of service while appreciating clients’ ever-changing priorities.

Mike performs audits, reviews, and compilations, as well as provides consulting and tax services for various clients in the manufacturing, governmental, nonprofit, employee benefit plans and financial sectors. He is engaged in all aspects of an engagement, including audit fieldwork, report preparation, and tax preparation.

Mike plays an active role in the training and supervision of the firm’s up and coming accountants, administering training programs to enhance the technical knowledge of professional staff. He provides training on income tax provisions, deferred taxes and corporate income tax preparation, as well as government report preparation in conformity with the standards of the Government Finance Officers Association’s Certificate of Achievement for Excellence in Financial Reporting (Comprehensive Annual Financial Report).

Mike became a CPA in early 2009 and completed the AICPA’s Not-for-Profit Certificate II Program. He is a member of the American Institute of Certified Public Accountants and the Illinois CPA Society.