It was a chance encounter five years ago with Tom DeLonge, a member of the alternative rock group blink-182, at a Merrill Lynch seminar that led accountant Louis Tommasino to an out-of-the mainstream specialty, accountancy for the entertainment industry.
The certified public accountant, who had recently opened an office in University City, helped the group ” that during its lifetime earned five platinum records ” with its taxes.
One thing led to another, and Tommasino began setting the group’s financial house in order in a number of critical areas: tax obligations, insurance coverage, building and home mortgages, retirement plans and estate plans, just to make sure that the rock group was keeping as much as possible of its profits.
Then, by word of mouth, other music groups (some so careful of their privacy that code names are used in place of group names around the office) caught on to what Tommasino was offering. He considers himself the only entertainment accounting specialist in San Diego.
Now that Tommasino has become experienced and well known in the music business for making sure these small business entities are on the right track, he is offering the same service to other small businesses.
As a way to organize for the new tax year, the office is offering a corporate business check-up to small businesses that don’t have an in-house accounting staff but are ready for highly qualified accounting help for asset protection. The check-up is valued at $2,500.
“We can look at your business, see how you operate compared to similar ones, and tell you what you should be making,” Tommasino said. “We believe that your accounting service may be your best business asset. Any business that takes advantage of our experience in helping to get its financial house in order will receive the check-up for free if we are hired as your accounting service.”
The service is also available to individuals.
Tommasino’s full-service office also cares for a healthy complement of mainstream business (350) and individual (60) tax clients. Mike J. Sabellico, CPA, and tax specialist David Taklender also are part of the firm. Sabellico is now working with Motion City Soundtrack, a group about to launch a European tour. Tommasino said the band “is now taking their financial responsibilities seriously.”
Louis Tommasino, CPA, has a reservoir of financial service contacts to refer clients to in areas where problems or deficiencies are detected.
The office is a member of the American Institute of Certified Public Accountants, California Society of Certified Public Accountants and LeTip Golden Triangle.
The office is in the Marketplace at 3232 Governor Drive. The office phone is (858) 623-0336. For a map and directions see www.tommasino-cpa.com.