Jerry Catalano is the president of Catalano, Caboor & Co., a full service certified public accounting firm that has provided tax, audit, accounting and business consulting services to closely held businesses and individuals nationwide since 1987. They are one of eight firms in Illinois authorized by the Illinois Film Office to do the work for the Illinois Film Production Tax Credit and Illinois Live Theater Tax Credit. Catalano, Caboor & Co. also has a niche in manufacturing, construction, automotive, professional services, medical services, non-profit entities, sports, back taxes, 401k audits, adoption tax credit, IL EDGE tax credit, R&D tax credit, start-ups and working with veterans.
Catalano is also known as The Music CPA, specializing in music royalty audits, tour accounting, litigation support, tax planning and accounting for music, creative and entertainment related industries.
Catalano is the senior partner in the firm. He services clients, supervises staff, acquires new business and generally participates in the management of the accounting firm. He has been a CPA since 1973, and his entertainment interest comes from being in a band since 1966. Currently lead singing and playing in his band The Fource, the position helps him relate to what musicians’ tax needs are. Catalano had the persistence, positive mindset and desire to start his own accounting firm and to watch it grow over the past 25 plus years. He enjoys getting businesses’ and individuals’ finances in order to give them long bright futures. Catalano states that too many businesses exist that have no plans in place for the long-term. He likes giving perspective and laying the foundation for success.
What has been the biggest challenge you have had in your business?
“Finding reliable competent staff has been our biggest challenge. Also finding male certified public accountants to join our firm has been a challenge as well.”
What have you implemented to overcome that challenge?
“We listened to the needs of our staff and created flexible work schedules and pay for working mothers. We always have one or two college students as paid interns to develop for the future.”
What are the results after you implemented your solution?
“The results are promising and productivity is up. We have hired four of our previous interns over the last six years and have successfully transferred full-time staff to our part-time working mother program. Many of the interns have gone on to pass their CPA exam (not an easy task) and become CPA’s for the firm.”
This article was written by Michelle Guilbeau of Examiner.com for CBS Small Business Pulse.