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Connecticut CPA
May/June 2014
& Z
, P.C.
Financial Restructurings
Commercial Transactions
10 Middle Street, 15
Floor, Bridgeport, Connecticut
Contact: James Berman, Esq. (203) 368-4234
Comprehensive Solutions for Your Client's Financial Challenges
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Chen, Joshua Fuchs, Eugene Lew-
is, Jesusa Nicholson, Thuan Nguy-
en, Shengnan Zhang, and Yaw and
Pedro (surnames not provided).
"The returns take about 25 minutes
each to complete because we have
to gather all the basic information for
each client, as each client is `new,'"
Ohlheiser explained. "I would esti-
mate the average level of income for
each client was about $17,500."
"I love the fit," commented Bill Mor-
row, IRS Senior Relationship Tax
Consultant (Hartford). "Our Philly
[Philadelphia] office asked me to par-
ticipate in a conference call to de-
scribe how this relationship formed
and how it is working so well," he
added. "We appreciate the work of
the student volunteers, and the expe-
rience of the CPAs."
"As supervisors, the CPAs sort of
`sprinkle their experience dust over
the proceedings,'" Merrick quipped.
"For example, one client, a profes-
sional boxer, had a Schedule `C'. We
talked with him about what equip-
ment he needed to compete, about
his uniform expenses special box-
ing trunks, robes, and so forth and
also learned that each time he fought,
he had to pay $75 out-of-pocket for
an on-site, doctor-administered con-
cussion examination before and after
each bout, and of course these are all
deductible expenses."
"Rick," I posed, "it's tax season.
How do you justify spending all this
time volunteering during your busiest
of seasons?"
"I don't," Merrick laughed. "These
are people we'd never otherwise see
in our offices, and we have a chance
to help them. They are mostly simple
returns, although when a volunteer
encounters a Schedule `A' or `C' they
get all excited," he said with a smile,
"as they get to roll up their sleeves
and dig in a bit more."
VITA Site Coordinator Nick Ohlheiser of Merrick &
Associates reviews a tax return.