Case Studies

CWS assisted in structuring the purchase of client’s private jet plan resulting in annual savings of $600,000.

CWS identified and formulated a strategy to shift the tax basis of foreign assets resulting in over $60M in savings.

CWS advised a client who had recently sold his tech company to a publicly traded company. Our analysis revealed that the company qualified as IRC 1202 stock, making our client eligible for a 50% exclusion of gains on sale. The amended individual tax returns resulted in client receiving a refund for over $600,000.

CWS identified errors that provided the client with over $10 million in additional deductions for tax year 2017. For 2018, CWS advised and implemented various strategies that resulted in additional $24 million in deductions. In total, the client claimed over $34 million over the span of 2 years.

CWS identified errors in a client’s 2014 and 2015 returns that had resulted in client’s approximately $1 million overpayment in federal and state taxes. For 2016, client requested CWS complete a “parallel” return to compare it to that prepared by a top-4 accounting firm. CWS corrected an error in the return that resulted in savings of $1.1 million. In addition, CWS discovered an omitted election resulting in a $1.2M claim. Combined, CWS saved the client an estimated $3.3 million over a span of six months.

CWS reviewed the tax efficiency of a corporate structure for hedge fund managers. Based on that review, CWS advised modifications that resulted in an annual savings of $1.3 million in federal taxes.

CWS reviewed client’s in-state tax returns that revealed an over-reporting of approximately $10M. The amended returns resulted in a refund of approximately $1M.

A top-8 accounting firm prepared a return that had misaligned this client’s overseas private equity fund. CWS identified income that was not subject to state and local taxes resulting in a refund of approximately $800,000

CWS advised and implemented a new corporate structure and tax strategy that resulted in annual savings of approximately $200,000.

CWS discovered a tax credit of approximately $1M that had been overlooked by a top national firm.

CWS review of the client’s prior year returns confirmed that over $2M in losses had been incorrectly suspended. The amended returns resulted in ordinary losses of over $2M.

CWS identified an annual 9% deduction from client’s $7M net income that a smaller firm had overlooked.