ROSS S. ALESSANDRO III CPA

Ross joined the firm in 2019 as a tax shareholder and currently leads its Credits & Incentives practice. He has more than 25 years of public accounting experience, including four years implementing ERP systems. Prior to joining Schneider Downs, Ross was a partner at a large, national public accounting firm.

Ross provides various credits and incentives services to companies in a wide variety of industries. These services include the research and development tax credit (federal and state), identifying Section 174 costs and employee retention tax credit incentive services.

Ross assists companies throughout the entire lifecycle of claiming and sustaining research and development credits and incentives, including estimating the benefit for any open tax periods, discussing qualified research activities with technical professionals, quantifying qualified research expenditures and Section 174 costs, calculating and documenting benefits and, if necessary, defending benefits upon examination. He has also helped numerous organizations to determine eligibility for, calculate and document their employee retention tax credits.

Ross has historically served companies in industries such as technology/software development, manufacturing, engineering/construction, banking/finance, biotech/pharmaceutical, transportation/logistics, apparel/retail and food/beverage. His knowledge and experience with tax credits and incentives helps his clients to maximize and sustain their benefits.

Education

M.S. – Taxation, Magna Cum Laude, Robert Morris University

B.S.- Business Administration, Duquesne University

Professional and Community Involvement

Member—American and Pennsylvania Institutes of Certified Public Accountants

Member—Virginia Society of Certified Public Accountants

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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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