Overview
David Damiani is a trusted tax advisor who guides clients through complex financial and legal issues with clarity and confidence. Drawing on his background in estates, gifts, and trusts as well as tax planning for individuals and small businesses, David delivers practical and strategic solutions that align with each client’s goals.
In 2025, David joined Kaufman & Canoles after spending 22 years at PBMares, where he served as a CPA, including 10 years as a partner. He brings extensive experience not just in tax preparation compliance, but in comprehensive planning around the legal and tax aspects of personal, business, and estate transactions and decisions. His areas of specialization include business transaction analysis, small business and individual tax planning, business formation and choice of entity guidance, multistate and international tax concerns, and estate planning solutions.
David's clients rely on him for a wide range of services, including tax audit representation, business succession planning, multi-year personal tax projections, compliance navigation for entities with foreign owners, and fiduciary accountings for trusts and estates. He aims to provide each client with efficient, comprehensive, and personalized service that considers their unique needs and challenges rather than offering a one-size-fits-all solution. Although he primarily serves the Tidewater region, David is honored to represent clients nationwide and around the world, maintaining his role as a trusted tax advisor even after they relocate from the area.
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Representative Matters
Advise clients on appropriate estate planning solution options relative to their asset level, including charitable remainder trusts, qualified personal residence trusts, spousal limited access trusts, strategic family and charitable gifting, family limited partnerships, and donor-advised funds, and on the estate and income tax implications of their options
Prepare individual and business income tax returns with multistate and international components, including tax nexus analysis, passthrough entity tax elections, composite filings, backup withholding requirements, foreign bank and investment account disclosure reporting, foreign earned income exclusions, and foreign ownership disclosures
Prepare gift, estate, and fiduciary income tax returns, including split-interest trusts
Prepare tax returns for circumstances where married individuals are residents of separate states
Assist U.S. nonresidents in limiting tax exposure on real estate sales and applying for full or partial exemptions to backup withholding
Tax planning for physicians choosing between employee and locum tenens status
Assist performing artists and athletes in multistate income allocation and tax reporting
Assist multistate taxpayers on establishment of residency, and related representation on state tax department challenges to income sourcing and reporting
Prepare tax projections and strategic asset acquisition and year-end income planning for multi-entity groups and their individual owners, including strategic planning for offsetting the tax effects of major nonrecurring income events and regular quarterly estimated tax planning
Guide on acquisition and termination of S corporation status, including preparation of qualified subchapter S trust and qualified subchapter S subsidiary elections
Tax planning for installment sales of assets
Retirement account contribution and withdrawal planning
Advise on the tax implications and effects of property sales and like-kind exchanges
Advise business clients on sales and income tax exposure based on the scope of their activities in other states, and on appropriate apportionment of income between multiple states
Represent clients in sales tax audits
Represent clients before IRS in tax return examinations and audits
Represent clients before IRS on offers in compromise, penalty abatements, bankruptcy and insolvency exclusions, and payment plans
Advise real estate investors on the appropriate entity for real estate holdings, eligibility for materially participating real estate professional status, and opportunities for loss recognition
Advise business owners on tax and planning elements of separating real estate and daily business operations in multiple entities
Assist clients with multi-year tax reporting deficiencies
Prepare applications for Virginia land preservation tax credits and qualified equity and subordinated debt tax credits
Advise clients on choosing the appropriate entity structure for newly formed businesses, considering current tax implications and long-term tax considerations for the eventual disposition of assets, dissolution, or succession
Assist in entity formation including drafting operating agreements, obtaining employer identification numbers, tax registration
Assist in compensation reporting for transfers of equity interests to employees
Assist in structuring, agreement drafting, and tax planning for business dispositions
Assist small business owners in determining the deductibility of expenses and on adhering to proper formalities to protect limitation of liability
Assist with changes of accounting years, corporate structural changes, advising on admissions of new members and owners, and tax planning for mergers, reorganizations, and acquisitions for mature organizations
Advising businesses on officer and employee compensation, payroll and subcontractor reporting compliance, and retirement plan options
Recognition & Honors
Honors & Recognitions
Top Forty Under 40, Inside Business
Super CPA; Virginia Business Magazine
Press & Publications
News
Community & Professional
Associations
Truist Bank; Community Advisory Board for the Richmond Region
American Institute of Certified Public Accountants
Virginia Society of Certified Public Accountants (VSCPA)
Tidewater Chapter of the VSCPA
Texas Review of Law & Politics; Editor-in-Chief
Virginia Conference on Federal Taxation; Planning Committee Member
Virginia State Bar
Published in Inside Business and Albany Law Journal of Science & Technology
Presenter for multiple courses accredited for CPA continuing professional education
Credentials
Education
Washington & Lee University; B.S.
Washington & Lee University; B.A.
University of Texas School of Law; J.D.
Beyond the Law
David has been the Tidewater Walk Coordinator for the PKD Foundation since 2010, organizing the annual local Walk for PKD to raise funds for research and education in polycystic kidney disease.
A preservation enthusiast, David is a member of the Jacksonville Historical Society and is a nominee for the Board of Directors of the Historic Virginia Land Conservancy.
David formerly wrote a sports column for the online edition of The American Enterprise and is an 18-year season ticket holder for the Jacksonville Jaguars.
In his spare time, David works toward his lifelong goal of constructing a model railroad city themed to mid-1980s north central Florida.
