Paul H. Frankel
Senior Partner, Morrison & Foerster, NY, NY
I have known Bob since 1989. He and I worked together closely on a series of tax appeals and audits, particularly during the 1989-93 period. During this time Bob, working either with me or my partners, negotiated with senior Department of Revenue personnel in ten states to limit back filing to 4 years from potentially 20 years – to obtain favorable apportionment factors and non-business income treatment for interest income and sales of assets in several states. In several cases we were able, under the current law then in place, to successfully disclaim nexus. This work saved over $3,000,000 per year.
Throughout my association with Bob I have been impressed by his strong work ethic, ability to research complex issues and arrive at solid conclusions. He has been a pleasure to work with.
Consultant, Finance and Operations, Jefferson Wells
During my tenure at Oxford Automative, a Tier I global auto stamper with operations in the US and 15 other countries, Bob was tax manager and a direct report to me. He was a team player and worked well with his colleagues. He established a lean tax dept.; obtained tax savings of $46+ million setting up the Mercedes Benz underbody stamping facility; established Federal tax compliance and tax development requirements; and saved $2+ million in property taxes his first year without resort to litigation. He set up a tax calendar that let me know the status of tax audits (and the filing status of returns). He promptly followed up on tax law developments, and got the amended returns filed, generating some $7 million in tax refunds.
While at Alfried Kaercher Inc., a US subsidiary of a large German cleaning equipment company, I brought Bob down to Atlanta to help in year-end audit work. He did the analysis on several major adjustments and was able to get fixed assets properly set up. He set up systems to ensure proper filing electronically of all sales/use taxes.
At Northland Resources, a Vancouver-based natural resource company with operations in Canada, the US and Europe, he worked on the tax provision. He also ensured that US tax compliance was correct and timely filed and filed final returns when the division was shut down.
William C. and Mary E. Hagel
Bob Shannon has been our CPA for thirty years. His work has been excellent and he has gone out of his way to ensure that our returns have been properly prepared, while keeping our taxes to a minimum. He takes the time to explain our return and key issues relating to it. He reviews our tax history over the last three years, as well as changes to the tax code, to suggest new tax strategies. He also meets with us several times a year to see if there have been any major changes to our income or deductions. Our returns are complex.
When we formed our corporation, he carefully explained the options to us, including the proper choice of corporate form, the book keeping, and the rules for documenting major items on our returns. He took extra trouble to document our right to a home office deduction before that became generally deductible. At no time were our returns audited.
In one case, where we had a non-Michigan trust, Bob determined it was more advantageous to file the trust returns and a non-resident income tax in that state. This work saved us an average of $18,000 a year for ten years.
He has also assisted us in gift and estate planning, allowing us to gift to our children and grandchildren tax free.