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June 2016
 

McGuire Sponsel Welcomes Kara Showley

McGuire Sponsel is pleased to introduce Kara Showley as our newest team member. Kara is a Project Manager for the R&D Tax Credit Practice. She maintains project flow and deadlines; manages reports and calculations; and substantiates clients’ R&D Tax Credit claims. 

Kara attended Indiana University, where she studied education. Prior to joining McGuire Sponsel, Kara worked for Weber Grill and a title company, performing lien searches and loan closings. These experiences have prepared her to be well-rounded while working with McGuire Sponsel’s team. 

“McGuire Sponsel has such a strong, unique staff. I am very excited to be working in such a positive environment, while helping the firm grow,” states Kara.

Kara resides on the Northwest side of Indianapolis with her daughter, Chayse. She is a member of Traders Point Christian Church and is an active volunteer and coach at the YMCA. She enjoys working out, spending time outside, and staying involved with her daughter’s activities. Please join McGuire Sponsel in welcoming Kara to the team.

Trusted Partners.
Proven Solutions.

 
Conceived out of the need to provide tested and proven specialty advisory solutions, McGuire Sponsel partners with accounting firms to offer cost segregation studies, research and development studies, IC-DISC studies, and financing & economic incentive opportunities.

 

 

 


 

 

 

 

 

 

Hidden Opportunities in Cost Segregation

 
Justin Gephart
Manager
   

The traditional fixed asset study focuses on optimizing depreciation deductions by moving assets into shorter, accelerated depreciable lives. However, there are times in which that approach does not bring any benefit to the client and the professionals at McGuire Sponsel develop other strategies to calculate valuable tax savings. 

Recently, a large developer contacted our firm to discuss a significant project that they were close to finalizing. The taxpayer had just finished constructing two large, multi-floor office buildings that cost in excess of $672 million. Ordinarily, this would have been a prime candidate for a cost segregation study, except, the developer was already negotiating a sale of the buildings and they would have been subject to the recapture rules. The developer had agreed to a final sales price that exceeded $1.1 billion and the client was looking at paying tax on the approximate $428 million gain. 


Contour Hardening: IC-DISC Success

   
   

After conducting fieldwork for an R&D Tax Credit study, McGuire Sponsel identified that Contour Hardening, Inc. would be an ideal candidate for an IC-DISC.  Contour Hardening is a manufacturer of custom induction hardening systems and advanced automobile power take-off systems. The client had experienced sustained growth in international revenues, but had not considered forming an IC-DISC. Realizing the potential savings, our team discussed the benefits of forming an IC-DISC.

McGuire Sponsel worked closely with management at Contour Hardening to develop an ownership structure that would maximize tax savings for the operating entity and active shareholders. McGuire Sponsel’s team provided a turn-key solution for setting up, maintaining, and maximizing the value received from the IC-DISC. Our team now performs a detailed annual transaction-by-transaction analysis, maximizing IC-DISC tax savings each year.

McGuire Sponsel formed the initial IC-DISC in 2013. In the first full year after forming the IC-DISC, Contour Hardening had a sizable commission paid to the IC-DISC to reduce their taxable income and thereby save in federal income tax. The C Corporation proceeded to benefit from the IC-DISC in tax year 2015 and expects to realize continuing benefit in future years.

Please contact McGuire Sponsel to discuss any questions or opportunities you may have regarding the IC-DISC.

(317) 564-5000
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