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.

In addition to Tom and Garth, Joshua Kenyon, formerly of Richard T. DeSimone & Co. Professionals, will join Selden Fox as a manager. As a licensed CPA, Josh works on the corporate accounting and tax services for auto dealerships and other privately held businesses. He is also a QuickBooks ProAdvisor. Josh received his Bachelor’s degree of business administration in accounting and management from the University of Iowa.

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