Accounting firm renamed after co-owner’s retirement

Former Port & Company is now Ranucci, Dalton & Schenk, CPAs, P.C.    

DeWITT, N.Y. — The firm formerly known as Port & Company, CPAs is now operating as Ranucci, Dalton & Schenk, CPAs, P.C., a change that became effective Jan. 1.

Ranucci, Dalton & Schenk, CPAs — which operates at 5730 Commons Park Drive in DeWitt — is a firm of certified public accountants (CPAs), certified valuation analysts (CVAs), and advisors.

Long-time partner Howard Port had retired on Dec. 31, 2020, says Richard Ranucci, the firm’s partner in charge of valuation and litigation services. Ranucci spoke with CNYBJ on Feb. 23. 

Ranucci, who is both a CPA and a CVA, has worked for the firm since 1978. Ranucci and Port had co-owned Port & Company, CPAs. Port’s father, Irving Port, had started the firm in the 1930s, according to Ranucci.

When asked if the situation represented a succession plan for Howard Port, Ranucci replied, “absolutely.” Port is also an attorney, so he still comes to the office occasionally to focus on his legal work that is still pending.

Following Port’s retirement, Ranucci elevated two long-time colleagues, Kari Dalton and Ann Schenk, to new partners after purchasing Port’s share of the firm. Ranucci, Dalton, and Schenk are the firm’s three partners, Ranucci tells CNYBJ.

Schenk and Dalton “have responsibility for a lot of clients. Ann is heading up our tax and accounting services and Kari and I focus primarily in the litigation support, business valuation, and forensic-accounting area,” says Ranucci.

The company currently has 10 employees and will look to grow that figure as time goes on in 2021, Ranucci notes.

“Slowly, we’d like to probably grow by at least 50 percent,” he added. “We just need to grow our staff to be able to support the additional needs of our clients.”

Any new hiring won’t happen until after the firm finishes its work focusing on the current tax season, he adds.

Besides the three partners, the firm also has two additional CPAs and one other CVA.

When asked about the role of a CVA, Ranucci explains it like this: “We’re certified to do business valuations.” CVAs handle business valuations for matters that include divorce cases, mergers and acquisitions, state and gift-tax planning. 

Ranucci, Dalton & Schenk, CPAs works with clients from Binghamton to Watertown, east to Utica, and west to Rochester. 

The firm is also planning to do some renovation work on its building in the spring, which it acquired in the deal involving Port’s retirement.

“We’re planning to do renovations after tax season … and once those renovations are done, we’ll have more offices and more room to add some more people,” he says. 

The firm operates in a building that covers about 6,500 square feet. The structure is also home to another tenant, according to Ranucci.