Scott C. Cashman's Legal Cases (4)

Tax

Represented Client of Significant Net-Worth

N/A

OUTCOME: Favorable for Client

Represented client of significant net-worth, including a high seven figure income, in an income tax audit before the IRS Worcester office. The audit raised a number of issues including substantial cap ... ital gains, installment sale income and charitable contributions arising out of the client’s multimillion dollar payout from the sale of the client’s former employer. The engagement required representation before several audit conferences and intensive document production and resulted in a “no change” report issued to the client.

Tax

Advised an Out of State Engineering Firm on Multi-Jurisdiction Tax Issues

N/A

OUTCOME: Favorable for Client

Advised an out of state engineering firm on multi-jurisdiction tax issues. Client is headquartered outside of Massachusetts but recently established an office in Massachusetts and became registered to ... do business as a foreign corporation. Several of the shareholder employees were residents of other New England States. Drafted an advisory for the client employer on payroll tax obligations as well as potential tax reporting and liabilities with respect to each shareholder employee in each jurisdiction.

Tax

Conducted a Compensation Analysis and Private Inurement Testing

N/A

OUTCOME: Favorable for Client

Conducted a compensation analysis and private inurement testing for a prestigious New England liberal arts college. As part of the engagement, we reviewed the total compensation of the College’s highe ... st earning employees, reviewed the adequacy of internal record keeping, determined which employees were considered “disqualified employees” under current IRS Regulations, and prepared an opinion for the College’s compliance with IRS Regulations.

Tax

Advised a Recently Widowed Client on Income and Estate Tax Issues

N/A

OUTCOME: Favorable for Client

Advised a recently widowed client on income and estate tax issues. The client, who is in her early 80’s, had depended upon her recently deceased husband to manage the couple’s finances. Their net wort ... h was approximately $2 million. We identified several income and Massachusetts estate tax issues. As part of the engagement, we reviewed and revised the client’s estate tax plan, created an LLC to hold a small rental property, and advised the client on a lifetime gifting plan. The client was so pleased with our service that she decided to have Bowditch & Dewey prepare her income tax returns.

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