JOSEPH A. BRUCE CPA
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Joe has more than 23 years of public accounting experience since joining the firm in 1996. His background includes serving a variety of clients in the construction, manufacturing, retail and oil and gas industries and employee benefit plans, including publicly traded companies.
Joe assists clients with financial reporting and operational matters and is responsible for the overall management and supervision of audit engagements. Such responsibilities require significant planning and administrative skills and extensive knowledge of financial reporting requirements, key technical issues and understanding the operating concerns of the entities served. Joe regularly attends local and national conferences for the oil and gas and construction sectors, and has significant involvement in the firm’s continuing education programs and industry groups.
Education
Professional and Community Involvement
Member—American and Pennsylvania Institutes of Certified Public Accountants
Member—Schneider Downs Construction Services Industry Group
Member—Business School Advisory Board, Waynesburg University
Past Board Member—Master Builders Association Young Contractors and YouthWorks, Inc.
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Do you have a hobby or personal passion?
Golf and baseball
What was the best advice you’ve ever received?
Paraphrasing the Andrew Carnegie line, “Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishment toward organizational objectives. It is the fuel that allows common people to attain uncommon results.
Who was your role model?
My Dad
What was your childhood dream?
I always wanted to play centerfield for the Pirates
People would be surprised to know that I…….
….was in the emergency room at least once a year until I reached my mid-twenties
What is the best or most interesting thing about your career?
I will spend my entire career working for just one company – Schneider Downs.
What was your first job?
Working on a farm
Do you have a “motto?”
Greatness courts failure. If you want to be average, you probably will be.
Do you have advice for young professionals?
Work with passion, energy and a desire to improve every day.
Our Thoughts On
Our Thoughts On
New IRS Form 15620 Standardizes Section 83(b) Election Reporting
Our Thoughts On
Understanding Donated Space Under Accounting Standards Codification 842
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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