A tax shareholder with more than 25 years of private and public accounting experience, CHRIS MCELROY joined Schneider Downs in 2017 and advises clients in diverse sectors, including consumer products and retail, healthcare, and manufacturing and distribution.
Chris’ team went to the aid of a family-owned retailer/franchisor that needed to reduce its tax burden to better align with the long-term vision for the business. Schneider Downs’ shareholder-led service model positioned the team to have a sophisticated understanding of the client’s objectives and leverage opportunities afforded by the Tax Cuts and Jobs Act.
“We helped the client implement a structure to get requisite cash flows to the owners while taking advantage of favorable corporate tax rates, non-U.S. tax planning, and other tax provisions such as QBI and FDII,” said McElroy. “We were able to reduce their overall annual global tax burden by nearly 15% as a result.”
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