Professionals & Consultants

James Dascenzo, CPA

ADDRESS
6603 Summit Drive Canfield, OH 44406
Contact
(330) 758-8613 Fax: (330) 758-0357

jdascenzo@hbkcpa.com

James Dascenzo, CPA

Principal | Youngstown, Ohio

Jim is a Principal of HBK CPAs & Consultants and the National Director of HBK Manufacturing Solutions, a group of specialists focused on manufacturing clients and their unique needs.

After joining the firm in 1988, Jim has spent his career working in a variety of industries, including manufacturing and distribution. As the National Director of HBK Manufacturing Solutions, Jim advises manufacturing clients on issues including tax planning, finance, succession planning, mergers and acquisitions, and ESOP transitions. In addition, he shares his knowledge and experiences with manufacturing specialists throughout the firm as well as local and regional organizations and trade associations focused on the manufacturing industry. To recognize his accomplishments, Jim was named Business Professional of the Year in August 2019 by the Youngstown Warren Regional Chamber of Commerce.

In addition to his HBK role, Jim is Chairman of the Board of the Youngstown Business Incubator, an internationally recognized incubator focused on programs including the use of additive manufacturing and advanced manufacturing technologies in the Mahoning Valley and Northeast Ohio.

Jim’s accomplishments include:

  • Evaluating and implementing strategies including the LIFO (last-in, first-out) inventory accounting method, cash basis accounting method, research & development tax credits, Interest Charge Domestic International Sales Corporations (IC-DISC), and cost segregation studies with manufacturing clients in a variety of sub-industries.
  • Supporting clients with cash flow projections and financial statement projections, including companies with annual revenues in excess of $100 million dollars.
  • Assisting a company in securing an asset-based line of credit with a financial institution for $30 million dollars.
  • Helping companies analyze state income and sales tax filings requirements in order to minimize liability and maximize compliance.
  • Aiding a manufacturing client in obtaining state tax credits based on their investment in expanding their manufacturing capabilities.
  • Representing clients before the Internal Revenue Service and state and local taxing authorities.
  • Developing a training program for the HBK Manufacturing Solutions team, to improve internal capabilities and overall manufacturing expertise.


    • Education

    • BS in Business Administration degree in Accounting from Youngstown State University

    Professional/Civic Associations

    • Member, American Institute of Certified Public Accountants (AICPA)
    • Member, Ohio Society of Certified Public Accountants (OSCPA)
    • Chair and Executive Committee Board Member, Youngstown Business Incubator
    • Member, Government Affairs Council, Youngstown Warren Regional Chamber of Commerce
    • Member, Farmer's National Bank, East Region Advisory Board
    • Board Member, Youngstown Symphony Society
    • Board Member, Youngstown State University Research Foundation
    • Member, Youngstown State University Williamson College of Business Administration Business Advisory Council
    • Member, Youngstown State University Accounting Advisory Committee
    • Member, Youngstown State University Penguin Club
    • Executive Leadership Team Member, American Heart Association
    • Past President, Mahoning Valley Chapter of Ohio Society of CPAs
    • Past President, Youngstown Hearing and Speech Center