David Deffinbaugh, CPA PC and Deffinbaugh Financial Services, Inc. provides trusted and comprehensive financial, insurance, estate and income tax solutions to individuals, families and businesses.
We provide our clients with exceptional service by knowing all facets of their lives, anticipating the questions and providing the answers before they know they have a problem or need.
We are actually two companies in one:
David Deffinbaugh, CPA PC provides accounting and bookkeeping services, payroll processing and reporting, income tax preparation for individuals, business, non-profit, trust and fiduciary and estate and gift tax returns. Consulting services are also provided on a variety of client desired topics.
Deffinbaugh Financial Services, Inc. provides financial planning in the areas of wealth accumulation and decumulation, retirement planning, estate planning, and planned gifting strategies. Specific investment tools used are mutual funds, variable annuities, stocks, bonds, Business Development Corporations, Real Estate Investment Trusts, Unit Investment Trusts and fee based advisory services. Specific insurance tools used are whole and term life insurance, disability insurance, long term care insurance, homeowners and auto insurance and legal and identity theft protection services.
Our most important company strength is taking the time to listen to our clients to determine their root concerns. Once we know the concerns, we can determine strategies to eliminate or mitigate the concerns as well as anticipate future areas of concern.
The combined services we provide for you:
- Income Tax Preparation
- Bookkeeping and Payroll Services
- Estate Planning
- Employee Benefit Programs
- Identity Theft Protection
- Mutual funds, Stocks, Bonds
- Variable Annuities
- Business Development Corp.
- Unit Investment Trusts
- Real Estate Investment Trusts
- Fee Based Money Management
- Life Insurance-Whole and Term
- Long Term Care Insurance
- Disability Insurance
- Auto Insurance
- Homeowners Insurance
- Commercial Lines Insurance
- Farm and Ranch Insurance
- Fixed Annuities
- Supplemental Insurance
- Legal Services
We assist our clients with asset allocation strategies to diversify their investment portfolio. We employ an educational process while taking the time to understand what drives our client’s investment philosophy. We use “active listening” to discern our client’s goals and desires and take the time to explain how the investment options work so the client understands the reasoning behind our recommendations. As with any investment, there can be no guarantee of return of investment.
Specific investment tools used are mutual funds, variable annuities, stocks, bonds, Business Development Corporations, Real Estate Investment Trusts, Unit Investment Trusts and fee based advisory services.
We utilize Morningstar to screen mutual funds. When building a mutual fund portfolio, we look for funds that have existed at least 5 years and longer is better. We also want to see the Morningstar ranking of no less than 3 of 5 stars for the long term period. Stocks and Bonds are analyzed using reports available to us from our broker dealer affiliation. Examples of information we look at for analysis are the number of insider transactions whether buy or sell, the percentage ownership of the company by institutional investors, dividend history, historical price charts and analyst recommendations for buy, hold or sell.
These investment entities pool investor funds to purchase real estate, typically in specific sectors like Class A Office Buildings, Industrial property, Single or Multi-family Residential, Health Care, Leisure and more. The goal of this investment strategy is to provide current income from rents and return of principal or more upon a liquidity event. We analyze the REIT’s for payment history of interest and principal and current rate of return.
We provide our clients the option of paying for our services in several ways. Traditionally, compensation for financial services was commission based but in recent years the trend has moved to a percentage of assets under management or flat fee. Most of the investment options shown above provide for either commission based compensation or management fees. We provide open disclosure of the source of our compensation. Our recommendations are made based on what we think is best for the client, not what is best for our compensation.
Life and business is full of risks. We guide our clients through the myriad of insurance products and help to provide peace-of-mind and financial security.
Specific insurance tools used are whole and term life insurance, disability insurance, long term care insurance, homeowners and auto insurance, and legal and identity theft protection services.
We assist our clients in determining the amount of life insurance needed to protect their families in the event of their death. Our clients need different levels of protection at various stages of their life. To accomplish the need levels at different times, we utilize a combination of permanent (whole) life insurance and term life insurance.
As with variable annuities, we analyze the features and benefits available from different insurance companies to determine which annuity will meet the client’s needs. We analyze the financial strength of the companies with whom we do business.
We assist our clients in planning for long term care expenses. Long term care expenses can be for in-home care, assisted living care and nursing home care. No one expects to need these services and no one wants to be a burden on family members should the need arise. Only by planning can our clients be prepared should the need arise and only by planning can the burden be lifted from family members.
We assist our clients in protecting their greatest asset – themselves and their ability to earn a paycheck. Similar to long term care, no one expects to become disabled and unable to provide for their family. But it will happen to some people. We provide our clients the education they need to make decisions for their family’s future.
We educate our clients on the levels of coverage available for their automobiles. The clients are able to determine the level of risk they want to assume. The benefit to the client is one point of contact for their financial needs and their trusted advisor is able to see all aspects of their financial life.
As with auto insurance, we educate our clients on the levels of coverage available to protect their home and the client is able to determine the level of risk they want to assume. The benefit to the client is one point of contact for their financial needs and their trusted advisor is able to see all aspects of their financial life.
We assist our business clients with education on appropriate levels of insurance for various aspects of their business. We work to educate them so they understand the reasoning for our recommended coverage levels.
As with the commercial lines insurance, we work to educate our farm and ranch clients as to appropriate levels of coverage based on the risk they are willing to assume.
We assist our clients in determining their need for supplemental insurance. Supplemental insurance can take many forms. It may be specified such as cancer insurance or critical insurance which work to supplement other health insurance coverage for these types of events. It can also take the form of umbrella insurance which provides additional coverage for auto and homeowners insurance. For those clients covered by Medicare insurance, it can be a medicare supplement plan.
We provide tax preparation for individual, business, non-profit, trust and estate, and gift returns for all states and federal. Most returns can be electronically filed. We encourage our clients to contact us with questions throughout the year. This allows us to be proactive to structure transactions to achieve tax savings. It is much easier to structure transactions properly at the start rather than have to reactively mitigate tax consequences.
Although we are working hard to be your “go-to” for all things financial, you may need assistance in a specific area not shown above. We encourage you to contact us with questions about anything. We may not be able to provide that specific service but we usually have someone to whom we can refer you to.