Family Business Services
Family business is a major economic force in America today. According to the SBA, the 24 million family businesses account for 89% of business tax returns, and employ more than 82 million people (or 62% of the workforce). These closely held family-owned businesses have unique concerns and accounting requirements. The finances of the business and the family are often highly entwined. Often, the business represents a large share of the family's wealth and future security. Business loans are secured by personal assets. Cash flow has a major impact on the family's lifestyle. Due to these factors, it is especially important that family businesses have a relationship with an accounting and financial management firm they trust and feel comfortable working with - a firm that is compatible with the requirements and character of both the family members and the business.
In our 60+ years, Dermody, Burke & Brown (DB&B) has come to understand the particular dynamics of the family-owned business. We take the time to build consensus among the stakeholders. We assign each client a dedicated team, so that we can come to truly know their family members, operations, and business and personal goals. Our objective is to build a lasting, trusting relationship so our clients feel comfortable asking us any question or turning to us with any financial or non-financial challenge.
DB&B assists our clients throughout the entire business life cycle - from formation and choice of an appropriate entity, through expansions and acquisitions, to succession planning and planning for transitions and sales. Should an unusual issue arise, DB&B's affiliation with Allinial Global allows our team to tap into the wealth of family business experience of other top tax practices.
DB&B is a proud sponsor of the New York Family Business Center, a not-for-profit resource providing education, consulting, training, interaction and resources to ensure family owned businesses efficiently and effectively evolve through the various stages of business development.
John is Partner and Managing Member of Calogero & Associates, LLC and a Principal of Dermody, Burke & Brown, CPAs, LLC. Calogero & Associates was started over sixty years ago by his father Nicholas J. Calogero, Sr. In January of 2013, the Firm combined with Dermody, Burke & Brown, CPAs, LLC.
John has thirty plus years of experience in public accounting, taxation, business management, as well as commercial and residential property development and management. He specializes in closely-held businesses, not-for-profit organizations and trusts and is experienced in serving physician and dental practices, manufacturing, retail and real estate clients. John also leads our Payroll and Merchant Services divisions.
John currently serves as Treasurer of A Better Chance of Clinton & The Mohawk Valley and Vice President of The Fort Schuyler Club. John received his Bachelor of Business Administration in Accounting from Niagara University and is a member of the National Society of Accountants and the American Payroll Association.
John is past board member of the United Way of the Valley & Greater Utica area, the Vinnie Coluzza Memorial Scholarship Fund for the Arts, the St. Elizabeth Medical Center Foundation, the American Cancer Society as well as past Treasurer of the Utica Boxing Association, President of A Better Chance of Clinton & The Mohawk Valley and Treasurer of Ocean Walk 16 HOA (New Smyrna Beach, Florida). John was also a 2002 recipient of the Mohawk Valley 40 Under Forty Award.
Greg Smith, CPA, MBA
Greg joined Dermody, Burke & Brown in 2011. Greg provides tax, financial statement and bookkeeping services to a variety of industries including contractors, manufacturers, professional services, distribution companies and small business clients. He also leads the Custom Accounting Solutions (CAS) department at the firm. Greg graduated from The State University of New York at Oswego with a Bachelor of Science Degree and a Master’s Degree in Business Administration.
Greg is the treasurer of the New York Family Business Center at the Madden School of Business at Le Moyne College and the treasurer of The Orchard Church. Gregis also a member of the Syracuse Executives Association, the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA). He is a QuickBooks Pro Advisor and works closely with startup businesses at The Tech Garden in Syracuse, NY. In 2013, Greg was a 40 Under Forty Recipient.