Shareholder Gennaro DiBello has widespread experience in all areas of tax and business planning associated with closely held companies, and he's been with Schneider Downs since 1987.
During a routine review of one of our client's operations, Gennaro's team identified something that wasn't very routine at all. They discovered that the client was using multiple incorrect methods and calculations for computing tax depreciation for their fixed assets. Gennaro met the client to discuss the issue, presented a solution to correct the problem, quantified the results, and implemented the changes resulting in a favorable adjustment of nearly $4.5 million. Gennaro's expertise and eye for detail was critical in helping this client fix a problem they didn't even realize that they had.
"We're good at identifying opportunities or exposures that aren't on our clients' radars," Gennaro said. "It's not necessarily what we were originally retained to do, but while we're executing our engagements, we're always looking for new ways to help our clients and minimize their tax burden."
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.