Michael P Hart

Senior Manager, Schneider Downs Business Restructuring

mhart@schneiderdowns.com | (412) 697-5368

Mike is a Senior Manager with Schneider Downs Business Restructuring, joining Schneider Downs in 2020. He is a business executive with 20 years of experience across multiple industries in Financial, Strategic and Operational roles for Big 4, Public, Private and Private Equity organizations. Mike has led business functions and cross-functional teams in developing new strategies and internal processes to improve business performance by +$30M in profit through revenue growth, lowering costs and strengthening cashflow.

Mike’s past roles include being a CFO for a middle market-manufacturing firm, a Management Consultant for a global consulting firm as well as building and leading FP&A and Commercial Operations functions. Skilled at assessing risks and opportunities while providing financial visibility and strategic options, Mike develops true relationships with Executive Management, peers and staff to deliver successful engagements.

Mike’s experience and expertise includes Management Consulting, Business Transformation, Cross-Functional Team Leadership, Change Management, Six-Sigma, Analytics, Operations Improvement, Strategic Planning and Strategic Pricing.

Mike has contributed to several pricing articles and books, given talks at national conferences on Data Driven Business Transformation as well as holds a patent.

Memberships and Associations

  • Board of Trustees – National Aviary

Education

  • M.B.A. – Finance, Case Western Reserve
  • B.S. – Chemistry, John Carroll University

About Schneider Downs Business Restructuring

The Schneider Downs Business Restructuring team provides clients with award-winning consulting services in the areas of management consulting, corporate restructuring and debt financing. Additionally, our experience includes having acted in the capacity of Court-appointed Receiver, Examiner and Trustee. To learn more about our Business Restructuring services, please visit www.schneiderdowns.com/business-restructuring.

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Big Problem: Large Tax Burden In The Succession Plans Of A Family Business.


Big Thinking: Creating A Grantor Trust To Save $1.5 Million.

GREG ALLISON is responsible for estate and succession planning for business owners, executives and high-net-worth individuals. He also prepares annual income tax returns for estates and trusts in addition to gift tax returns, federal estate tax returns and state inheritance tax returns.
One of Greg’s clients was a father wanting to retire and give his son 100% ownership of their company. Giving his 80% share in the company would result in a $1.5 million tax due on redemption. Greg’s team was able to avoid the $1.5 million tax and introduce asset protection by having the father creator a grantor trust instead. “By creating a grantor trust, the father was able to sell his shares under the same terms as redemption but save money since no gain is recognized on the sale,” said Greg. “We were also able to integrate asset protection into the structure and procure the recurring tax and attest services.” Schneider Downs provides Big Thinking and Personal focus in delivering a variety of services for large and small businesses, both publicly and privately held, as well as nonprofit organizations, government entities and more. Through our commitment to thought leadership and knowledge management, we deliver the solutions our clients need with a personal commitment to service.

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