Paul N. McCullum

Paul McCullum is a hands-on bankruptcy and tax attorney. He is a zealous advocate for his clients in matters against creditors, the IRS, and the FTB. He also uses his extensive business background to help clients take advantage of tax planning opportunities and to come out of bankruptcy with not only a fresh start, but also clear plan going forward.

Paul has specialized in bankruptcy law since he was a judicial extern for the Chief Bankruptcy Judge of the Central District of California, Honorable Sheri Bluebond, United States Bankruptcy Judge, Central District of California, for two separate terms while a student at Loyola Law School.  He recently worked for the Chief Bankruptcy Judge for an unprecedented third term Jan-May 2015. 

While in law school, Paul was the managing editor of the Loyola Journal. Paul was the first to be awarded a Tax Law Concentration upon graduation. Paul received the highest grade in Bankruptcy Taxation and Chapter 11 Reorganizations. He worked in the Chapter 11 department of a noted Beverly Hills law firm, where he participated in more than ten Chapter 11 cases representing debtors, and helped draft several plans of reorganization that were ultimately confirmed. Paul is also a regular volunteer at Public Counsel's Bankruptcy Clinic, where he assists pro se debtors with Chapter 7 cases. Prior to law school, Paul received a double major at Tulane in Finance and Accounting, and a Master's degree in International Business, from EDHEC Business School, a Top 5 International Business School located in Nice, France. He has several years of experience in real estate, financial analysis and consulting. He has a special interest and entrepreneurial spirit for disruptive technologies and long-time advocate for governmental oversight and transparency. He is also an award-winning international journalist. He founded and ran a nationwide election-year organization for young people, and is a published author. He was the first fully-credentialed blogger at the Democratic National Convention. One of his books is required reading for political marketing courses at Loyola University of Chicago.  

Since being admitted to the California Bar, Paul has been an associate at Zbylut Law Office, focusing on Tax Controversy, representing clients with tax issues with the IRS and FTB. Paul also assists in strategic tax planning for businesses and individuals, as well as estate planning and business law.

Paul is also an associate attorney at the Ogden Law Group, a commercial real estate firm in Santa Monica. Paul takes part in negotiating and drafting sales and lease contracts. He especially enjoys guiding clients towards significant savings through strategic tax planning. Paul enjoys strategic tax planning. Paul navigates clients through the Internal Revenue Code, helping to taking advantage of tax deferral and various tax favorable opportunities contained therein, such as Section 1031 and Section 338(h)(10) elections. Paul is also Of Counsel to the Law Offices of David D. Kim, where he assists in Civil Litigation.

Earlier this year, Paul was invited to Washington D.C. on behalf of the Tax Section of the State Bar of California and LACBA, to present his proposal for the proper tax treatment of Bitcoin and virtual currencies to members of the Senate Finance Committee, House Ways and Means, Treasury, and IRS Chief Counsel. His paper was published in Tax Notes and will be featured in the upcoming issue of California Tax Lawyer in its entirety. Paul serves as a consultant and serves an advisory role to many Bitcoin-related startups in Silicon Valley and Silicon Beach. He is the owner of . Bitgive Foundation is the first 501(c)(3) non-profit. Paul enjoys volunteer and pro bono activities, including for the Animal History Museum, the Domestic Violence Clinic, the Tax Appeals Assistance Program offered by the BOE, Public Counsel's Nonprofits Clinic, where he formed and served an advisory role for various 501(c)(3)'s, including Dignity and Power Now, a non-profit focused on establishing independent civilian oversight over the Los Angeles County Sheriff's Department.

Bankruptcy, Tax, and Bitcoin

Consumer Debt Relief, Chapter 7 and Chapter 13. Tax planning for bankruptcy and debt workouts. Taxpayer advocate for IRS and FTB controversies. Bitcoin consulting and accounting. Business formation and dissolution.

• Chapter 11 business reorganizations 
• Tax planning for troubled borrowers, in and out of bankruptcy
• Strategic tax planning for structuring real property transactions or the sale or acquisition of a business. This includes negotiations and drafting Acquisition Agreements, letters of intent, and other contracts
• Consumer bankruptcy (Chapter 7 and Chapter 13) and debt workouts
• Taxpayer advocate for clients with IRS and FTB controversies
• Taypayer advocacy for IRS and FTB controversy, including audits, collections, and appeals
• Bitcoin consulting for businesses wanting to accept this mode of payment. 
• Bitcoin tax planning and accounting
• Business formation and dissolution (LLCs, C Corps, B Corps, 501(c)(3)'s and 501(c)(4)'s for local political organizations, and Mutual Benefit Corporations for Medical Marijuana Collectives and Dispensaries)
• Property Tax Exemption issues with non-profits
• Foreclosure defense (CCP Section 580) 
• Strategic tax planning for property transactions

Bankruptcy Practitioner 

• Consumer bankruptcy attorney focusing on debt modification, Chapter 7, and Chapter 13.
• Experienced Chapter 11 attorney for business reorganizations.

Worked on nine Chapter 11 cases while at a top bankruptcy firm, from petition through the drafting of reorganization plans, many resulting in plan confirmation. 

Top grade in Chapter 11 Business Reorganizations course at Loyola Law School

Three term judicial extern to the Chief Bankruptcy Judge of the Central District of California.

Volunteer at Public Counsel's Bankruptcy Clinic, assisting pro se debtors with Chapter 7 petitions and cases.

Bankruptcy Taxation guru - Advanced area of focus on the tax implications of bankruptcy and debt workouts, and helping debtors plan accordingly. This is an often overlooked area by bankruptcy practitioners, often with grave and unexpected implications for debtors down the road, especially when real estate is involved. 

Strategic tax planning with a focus on real property transactions and the sale or acquisition of a business. Advanced interest and experience utilizing 338(h)(10) elections in M&A.

Tax controversy as an advocate for individuals and businesses with issues with the IRS or FTB. 

• audit
• back taxes
• offer in compromise
• innocent spouse relief
• property tax appeals and abatement
• sales and use tax
• state and local tax
• state and local credits and incentives
• business license compliance

I am two units away from receiving my Tax LLM from Loyola Law School 

I was in the first small group to receive a Tax Concentration at law school graduation. 

Bitcoin consulting

• Help businesses implement bitcoin as a payment option (I also accept Bitcoin)
• Tax planning and accounting for clients who accept Bitcoin
• Bitcoin Consultant to startups in Silicon Beach and the Bay Area 

Owner of . Bitgive is a 501(c)(3) focused on Bitcoin as a medium for charitable giving

Member of the Digital Currency Counsel

Helped convince Wikipedia to accept Bitcoin donations (in conversations with its founder, Jimmy Wales at the Wiki Media Foundation)

Published Scholar on Bitcoin Tax issues

• Author of proposal advising key federal government officials on what I propose is the proper tax treatment of Bitcoin and virtual currencies.
• Paper was selected by the Taxation Sections of the State Bar and Los Angeles County Bar Association and presented to key officials as part of the Washington D.C. Bar Delegation in May 2015.
• This included a number of separate presentations to members of IRS Chief Counsel, Treasury, Senate Finance Committee, House Ways & Means, Tax Court, National Taxpayer Advocate.

Publication in the upcoming "California Tax Lawyer" magazine.