Baumann & Baumann CPAs
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About Us

Passion. Experience. Diligence.


We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success.

We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen. Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.


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We at Baumann & Baumann know that finding the right accountant to help you is a choice not to be taken lightly. That’s why we offer free consultations to walk you through your needs.

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Who We Are



Karl M. Baumann, CPA, PFS

Karl M. Baumann, CPA, is a Co-Founder and Partner of Baumann & Baumann CPAs. In this role, Karl specializes in rendering attest, tax compliance, and consulting services to closely held companies and high net worth individuals.

Prior to founding Baumann & Baumann, Mr. Baumann was a Senior Tax Manager at Gaffin Helman & Co. in Boston, MA, where he was in charge of the Tax compliance Function. He was also responsible for supervision of all Tax Compliance Activities, including the preparation and review of corporate, partnership, and fiduciary income tax returns for public corporations and closely-held businesses which operate in a multi-state, New England regional environment. Mr. Baumann also spent one year at Arthur Andersen in Boston, MA, as a Senior Tax Manager. Mr. Baumann was responsible for servicing the tax needs of large corporations and their executives; structured leveraged, corporate reorganizations and provided tax planning services to public and numerous closely-held companies and their shareholders. 

Karl was a Staff Person at Peat Marwick in (Now KPMG). Mr. Baumann joined the Dallas, Texas office in February of 1984 as a Tax Staff person and was promoted to Tax Manager in less than 2-1/2 years. Karl gained broad exposure to various industry segments, including the manufacturing, real estate, banking, and retail industries. His responsibilities involved a service commitment to the insurance and savings and loan industries and significant work in the real estate industry. Prior to Peat Marwick, Karl was assigned to the Dallas, Texas office as an audit staff person performing tests of account balances, compliance with internal controls, and preparation of financial statements for closely held businesses. 

Mr. Baumann holds a BSA in Accounting from the University of North Texas, where he graduated with Honors. He also holds a Masters of Science in Accountancy (MSA) from the University of North Texas, where he graduated with High Honors. Mr. Baumann is a member of AICPA. In his free time, he enjoys golfing, swimming, spending time with his family, and traveling to Germany.



University of North Texas
Masters of Science in Accountancy, 1982

University of North Texas
BSA, Accounting, 1978




Elizabeth R.F. Baumann, CPA

Elizabeth “Betsy” Baumann, CPA, is a Co-Founder and Partner of Baumann & Baumann CPAs. In this capacity, Betsy is responsible for general services, with professional responsibility for rending accounting, auditing and tax services to closely-held businesses and not-for-profit organizations. Prior to founding Baumann & Baumann, Betsy was a Supervising Tax Consultant at Deloitte, Haskins & Sells where she was responsible for the supervision of tax staff and the preparation and review of corporate, partnership, fiduciary and individual income tax returns for closely-held businesses and their shareholder owners. 

Prior to her time at Deloitte, Mrs. Baumann spent two years at Ernst & Whinney (now Ernst & Young), in Dallas, Texas as a Staff Accountant. In this capacity, Betsy’s responsibilities included assistance to corporations, partnerships, and individual in accounting, auditing and tax compliance. Areas of specialization included health care, not-for-profit, financial institution and commercial entities, including interface with client personnel in connection with the resolution of professional issues. 

Mrs. Baumann also spent two years at Arthur Andersen in Dallas, TX, where she worked as an experienced audit staff person, supervising and performing audit engagements including the planning and performance of audits, planning and performance of fieldwork including the preparation of financial statements and tax returns. She also evaluated current accounting systems and determined the effectiveness of internal control procedures; advised client management of need for specific improvements in internal control structure. 

Mrs. Baumann holds a BBA in Accounting from Southern Methodist University. She also holds a Masters of Science in Taxation (MST) with Distinction from Bentley University. Mrs. Baumann is a member of AICPA. In her free time, she enjoys spending time with her three dogs; one black lab and two dachshunds, and her beloved husband and kids.



Bentley University
Masters of Science in Taxation, 1988

Southern Methodist University
BBA, 1982




Kevin MacDonald, CPA, CGMA

Kevin is a partner at Baumann & Baumann CPAs. He has over 30 years of experience serving closely-held business and their owners on accounting, tax and other financial issues.  Before joining our firm, he spent 10 years at RSM and prior to that for 17 years was a founder and director of a local firm and worked at a regional firm for five years,

He now provides assurance and tax services to owner managed private companies in a variety of industries including distribution and light manufacturing, professional services, real estate and technology based start-ups.  These companies generally have revenues under $25 million.  Kevin also provides tax compliance and consulting to those companies, their owners and other high net-worth individuals and families.

He is a CPA in Massachusetts and a member of the AICPA, Massachusetts Society of Certified Public Accountants and the Association for Corporate Growth (former board member of ACG Boston).

Kevin is currently on the board of jfyNetworks a Boston not-for-profit that provides technology-based support for students that need help with college and work readiness. He is also a board member on the Wellesley Free Library Foundation, a supporting organization for the Wellesley MA Free Library.

Kevin is a graduate of Boston College (BS) and Bentley University (MST). He is a ten-year Pan-Mass Challenge rider.



Bentley University
Masters of Science in Taxation, 1982

Boston College
Bachelor of Science, Accounting

Activities & Affiliations






Maura Fabiani, CPA

Maura Flynn Fabiani, CPA, joined Baumann & Baumann CPAs in August 2016.  She provides financial statement, accounting, and tax services to closely held businesses, partnerships, trusts, non-profits and individuals. 

Prior to joining Baumann & Baumann, Maura was a partner with Tulis, Miller & Company LLP in Boston, MA.  She was responsible for all aspects of client services, including audit, review, and compilation engagements, accounting services, and tax compliance for closely held businesses, partnerships, trusts, estates, individuals, and non-profit entities. The diverse client base included professional service firms, engineering, manufacturing, advertising, real estate, condominium associations, retail, and non-profits.  In addition, she was responsible for the technical review of financial statements for the firm and was involved with staff supervision and training.   

Maura began her career at a large local CPA firm in Newton, MA where she was a staff accountant and then supervisor responsible for the planning and performance of audit, accounting, and financial statement engagements and the preparation of corporate, partnership, and individual tax returns. 

Maura is a graduate of Bentley University with a Bachelor of Science in Accounting degree.  She also holds a Master of Science in Taxation from Bentley University.  She is member of the AICPA and the Massachusetts Society of CPAs.   In her free time, she enjoys traveling, golfing, food and wine, and spending time with her family.


Bentley University
Masters of Science in Taxation, 1982

Bentley University
Bachelor of Science, Accounting



tax manager

Jessica Varney, MBA, MST, CPA

Jessica Varney started her career at PricewaterhouseCoopers LLP in Boston, specializing in hedge fund and private equity partnerships. She worked on a special assignment in Chicago for 7 months and enjoyed traveling with the firm. Mrs. Varney left in 2013 to pursue a more intimate work environment and focus more on high-net worth individual and  closely-held business taxation. She also enjoys golf, traveling and spending time with her husband and three cats.


Bentley University
Masters of Science in Taxation, 2010

MBA, 2010

Bentley University
Bachelor of Science, Accounting, 2009



staff accountant

Xinyun (Alex) Wang

Newly graduated from Bentley University with distinction, Xinyun (Alex) Wang started her career here at Baumann & Baumann CPAs. She is now concentrating on helping with small-to-midsized business with their accounting issues. Miss. Wang is also a CPA candidate who has passed the section of Financial Accounting and Reporting. In her free time, she enjoys hiking, jogging and exploring new restaurants.


Bentley University
Masters of Science in Accountancy, 2017

Shanghai International Studies University
Bachelor of Arts, Korean Language and Literature, 2015



Head of technology and information security

Arthur Priver


Harvard University
Ph.D. in Applied Mathematics

A.M. in Applied Mathematics

Brown University

Sc. B. Applied Mathematics