CARL D. SCHARF CPA

Carl has more than 11 years of professional tax experience in public accounting. He has served privately-held and family-owned corporations, partnerships, LLC’s and high net worth individual clients, advising on various issues involving federal, international, state and local tax matters. Carl is primarily involved in strategic tax planning, research and compliance issues for corporate and pass-through type entities.

Carl has extensive experience working with companies operating in industry sectors ranging from real estate, construction, transportation/logistics, automotive, retail and professional services. He also has experience with the review and analysis of cost segregation studies, transfers/sales of partnership interests, and U.S. and foreign-based companies that have tax exposure from foreign-owned investments.

Education

B.S.B.A – Accounting and Economics, The Ohio State University

Professional and Community Involvement

Member—The American Institute of Certified Public Accountants

Member—The Ohio Society of Certified Public Accountants

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Do you have a hobby/personal passion? 
When not spending time with my wife and 3 kids, I enjoy playing golf and hockey.

What was the best advice you’ve ever received? 
Become comfortable with being uncomfortable.

What was your childhood dream?
To be a cartoonist – still have many of the drawings from when I was a child.

If you could go back in time, what advice would you give your college self? 
Buy stock in Apple

People would be surprised to know that I…
Go on an annual family vacation to Dewey Beach, DE with 6 other siblings, spouses, kids, parents and dogs.  We all stay in one beach house for a week.  If you are trying to do the math – that is 16 adults, 14 kids, and 2 dogs.

What is the best or most interesting thing about your career?  
Building personal relationships with clients and co-workers.

What was your first job?  
A caddy at Canterbury Golf Club in Cleveland, OH

Do you have advice for young professionals?
It’s too often that we focus on what we think we should or shouldn’t be doing to better our “career”. Embrace your current role.  Do you job conscientiously. Be flexible, reliable, and respectful and your career will take care of itself.

Our Thoughts On

FEATURED

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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