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April 27, 2011 (Houston, TX) –
26 of alliantgroup's VIP CPA firm partners and clients convened at alliantgroup headquarters in Houston, TX for an open conversation with Chairman of the Senate Finance Committee, Senator Max Baucus. This opportunity provided a forum for alliantgroup's guests to voice their questions, comments and concerns directly to Senator Baucus. They also received an update on the latest and greatest from Washington from Chairman Baucus, the esteemed Dean Zerbe, former IRS Oversight Committee chairman Jim Ramstad, and former IRS Commissioner Mark Everson.
“The work alliantgroup does for small and medium businesses is very constructive and their broad expertise is apparent. alliantgroup works with the bread and butter of the economy - small and medium businesses”
– Mark Everson, Former IRS Commissioner and Vice Chairman, alliantgroup
Participants in the Discussion:
alliantgroup Guests:
- Andrew C. Burnett (Frazier & Deeter, LLC)
- Andy Vitale (Withum Smith+Brown, PC)
- Bruce Hall (Watkins Meegan)
- Bryan J. Ross (Eide Bailly)
- Bryan R. Chandler (Jamison Money Farmer PC)
- Carl R. Coburn (Clark Schaefer Hackett)
- Christine Williamson (Watkins Meegan)
- Dan Shore Cunningham (Eide Bailly)
- David A. Springsteen (Withum Smith+Brown, PC)
- David Wascom (Hannis T. Bourgeois, LLP)
- Glenn Herman (O'Connor Davies Munns & Dobbins, LLP)
- Greg Margarit (Boulay, Heutmaker, Zibell & Co. P.L.L.P.)
- Jeffrey R. Corey (Bonadio Group)
- John Bjorngjeld (Melton & Melton LLP)
- John Null (Null Lairson)
- Joseph A. Rusche (Boyum & Barenscheer PLLP)
- Larry Autrey (Whitley Penn)
- Mark Paczosa (Smith, Schafer and Associates, Ltd.)
- Patrick Kautzman (Eide Bailly)
- Ron Hecht (Eide Bailly)
- Steven Erchul (Smith Schafer & Associates)
- Thomas R. Hofstad (Boyum & Barenscheer PLLP)
- Thomas R. Johnson (Johnson, Harris & Goff, PLLC)
- Timothy Dufault (Cuningham Group Architecture, P.A.)
- Tim Schlotterer (GBQ Partners LLC)
- William R. Hagaman (Withum Smith+Brown, PC)
alliantgroup Participants:
- Dhaval Jadav (CEO, alliantgroup)
- Shane Frank (COO, alliantgroup)
- Jeremy Fingeret (Managing Director of Operations, alliantgroup)
- Sonny Grover (EVP, alliantgroup)
- Dean Zerbe (National Managing Director, alliantgroup)
- Mark Everson (Vice Chairman, alliantgroup; former IRS Commissioner)
- Jim Ramstad (Sr. Advisor, alliantgroup; former Congressman (R-MN) )
- Lynn Hedlund (National Managing Director, alliantgroup)
- Kevin Corley (Senior Managing Director, alliantgroup)
- Michael Siegel (Managing Director, alliantgroup)
- Dave Mayer (Managing Director, alliantgroup)
- David Ji (Managing Director, alliantgroup)
- Brad Mols (Managing Director, alliantgroup)
- Les Bryson (Director, alliantgroup)
- Andy Gerstenhaber (Director, alliantgroup)
- Brian Aumueller (Director, alliantgroup)
- Greg Knarr (Director, alliantgroup)
- Tracy Lustyan (Director, alliantgroup)
- Estefania Quesnel (Director, alliantgroup)
- Steffanie Gunn (National Director of CPA Relations, alliantgroup)
Conversation with Senator Baucus
Senator Baucus welcomed alliantgroup and our guests and was struck by the distances our guests traveled to speak with him. He exclaimed that we are lucky to be Americans due to our entrepreneurial spirit but we face unpredictability due to the temporary nature of many beneficial provisions in the Tax Code. A discussion between the audience and Senator Baucus followed.
On Tax Reform
“One of my goals is to eliminate uncertainty in regards to tax provisions. The only way to do this is to have provisions either be eliminated or be made permanent.
I urge CPAs and their clients to reach out to Congress frequently, so their Congressmen realize the importance of their demands. The changes you want to see in Washington are in your hands, because Congress will follow what the people want.”
– Senator Baucus
Political Forecasting / Client Concerns
“I see clients having profitability, expansion and job issues, which reinforces the need for credits and incentives.” – CPA guest
“I find rising oil and gas prices to be a concern for my clients because they create inflation and this affects smaller producers.” – CPA guest
“Congress needs to raise revenue and oil and gas prices are easy to raise. An adult conversation about oil and gas prices needs to occur between the Administration and the oil and gas industry in order for better solutions to occur.” – Senator Baucus
“I also believe cutting the deficit will continue to be one of our nation's biggest and most difficult issues. I foresee upper income brackets will see income tax increases.” – Senator Baucus
Importance of Small and Medium Businesses
“Congress needs to see small and medium businesses are where the action is for the economy.”
– Mark Everson, Former IRS Commissioner and Vice Chairman, alliantgroup
“The Small Business Bill, which included the AMT turn-off, was an acknowledgement from Congress that small and medium businesses are an important driver for the economy. alliantgroup, CPAs and their clients need to keep pressing Congress about issues that concern their clients. Also, small and medium businesses must present clear and concise solutions to Congress. If they can stand behind the same message, they will be able to yield the same power as the Fortune 1000.” – Senator Baucus
He closed by stating:
“We are all honorary Montanans” and to visit him for breakfast on the Hill!
Washington Tax Update
Former IRS Commissioner Mark Everson, former Congressman Jim Ramstad (R-MN) and former Senior Counsel to the Senate Finance Committee Dean Zerbe provided their Washington tax insider perspective.
“The overall outlook is that there could be little action on taxes until after the Presidential election. Tax reform is a complicated but necessary endeavor, and the R&D credit will definitely be a component of that reform.” – Dean Zerbe, National Managing Director, alliantgroup
“While some consider the R&D credit to be variable, it will always remain a constant in the world of tax credits and incentives.”
– Jim Ramstad, Former Congressman and Senior Advisor, alliantgroup
“It's in our Congress' best interest to support small and medium sized businesses because this sector influences a large percentage of our GDP.” – Dhaval Jadav, CEO, alliantgroup
“It behooves our clients to know the latest about taxes in Washington and to be outspoken in regards to tax-related measures in order for alliantgroup to serve as the voice for its clients.“
– Mark Everson, Former IRS Commissioner and Vice Chairman, alliantgroup
alliantgroup Industry Specialization Overview:
Several members of alliantgroup's Industry Specialization Teams dedicated to Architecture, Engineering, Construction, Software, Manufacturing and Life Sciences, discussed recent trends in these industries and the applicability of the R&D credit to activities in these industries.
“We have worked with the depth and breadth of life science and biotech companies and many struggle to find sufficient funding for their research projects. Aside from the R&D tax credit, we were able to assist our clients with the Qualifying Therapeutic Discovery Project (QTDP) grants. Overall, alliantgroup helped clients secure over $200 million in QTDP grants and we had a 98% success rate.
Without this important funding, many research projects, including those finding a cure for cancer and other devastating diseases, could not continue.”
– David Ji, Managing Director, alliantgroup and
Dan Lewicki, Life Sciences Associate Director, alliantgroup
“Many architecture, engineering and construction firms, as well as mechanical and electrical contractors, fail to realize that they qualify for valuable tax credits and incentives due to the value engineering they perform on a daily basis to improve projects. Simple improvements in HVAC systems, structural design and building envelopes can lead to hundreds of thousands in savings.” – Justin DiLauro, AEC Team Director, alliantgroup
“I am always excited to help small and medium businesses save jobs. Having gone on site visits to various manufacturing plants, I have seen companies' hardships firsthand.
Thankfully, recent clarifications from the courts regarding supply costs have been a boon for manufacturers involved with tooling and first-in-class products. For example, I have found contract manufacturers to be great candidates for the R&D credit, especially in light of these rulings.” – Walter Marvin, Manufacturing Team Director, alliantgroup
“Prior to alliantgroup, I was a programmer, but due to my ability to work with artificial intelligence companies, application software developers and the gaming industry, the work I do now is both exciting and rewarding.” – Angelique Garcia, Software Team Director, alliantgroup
“The software team has received various inquiries from software/hardware developers due to the number of presentations and publications for trade associations and journals that serve these industries. We're so glad to see that more and more software companies are learning about the work we do.” – Jason Mollner, Software Team Senior Associate, alliantgroup
Also represented were team members from the Energy Incentives, Export Incentives, Manufacturing Incentives and Tax Controversy Groups. Directors from each of these practice areas attested to the satisfaction they receive knowing that they are helping innovative but struggling small and medium-sized business across the country remain competitive, retain and create more jobs and take on more projects. These credits and incentives allow them to compete in an increasingly global marketplace.
In Summation:
“alliantgroup's work strengthens the relationship between CPAs and their clients as well as providing a voice for them. It is our goal to continue to perpetuate this relationship by offering our valued partners many more opportunities with members of government in the future!”
– Dhaval Jadav, CEO, alliantgroup
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