David B. Casten is Of Counsel in the Providence office of GRSM and is a member of the Business Transactions practice group. He provides individual -client and business-client advisory and compliance services as well as legal representation and counsel on tax matters related to diverse business transactions including new entity formations, business acquisitions and dispositions, accounting periods and methods, Subchapter S elections, high net worth individuals, tax controversy services, multinational taxation.
- Advised clients on the tax and related financial accounting treatment of issues pertaining to taxable and non-taxable mergers/acquisitions, dispositions, and reorganizations for domestic and international holdings as well as the strategies for the tax-efficient restructuring of multinational groups including matters pertaining to transfer pricing compliance, implications, and special considerations. Performed the due diligence required to improve transaction outcomes and integrated project-specific strategies
- Represented and advocated for clients before the national office of the Internal Revenue Service and during federal, state, and foreign tax examinations on matters related to rulings, competent authority, and technical advice requests.
- Responded to the wealth preservation goals of high-net-worth clients by providing tax planning and compliance, estate planning, and estate settlement services. Incorporated the strategic use of charitable lead trusts and charitable remainder trusts, charitable and non-charitable inter-vivos gifts, and redemptions to pay estate taxes.
- Conducted qualitative professional-practice operational reviews while visiting offices in the United States and overseas to assess procedural compliance, fee structures, management efficiency, and advisory quality and aptness.
- Provided tax planning and compliance services for tax-exempt organizations including hospitals, institutions of higher learning, and private foundations.
- Represented transnational individuals in connection with abatement of civil penalties imposed by virtue of non-compliance with U.S. income tax obligations.
- Co-author with Nicholas Lynch and Michael Lynch, Tax Relief for Executive Compensation Clawbacks Under Proposed Dodd-Frank Rules, The Tax Adviser Cover Article, October 2016.
- Co-author with Nicholas Lynch and Michael Lynch, Captive Insurance Companies: Dead or Alive; Updated based upon new laws and regulations, Journal of Taxation and Regulation of Financial Institutions, Fall 2016.
- Co-author with Nicholas Lynch and Michael Lynch, Captive Insurance Companies: Dead or Alive, Journal of Taxation of Investments, Winter 2016.
- Co-author with Nicholas Lynch and Michael Lynch, The Expanded Use of Sustainability Reporting, The CPA Journal, March 2014.
Teaching Experience
Boston University School of Law
- Consolidated Tax Returns
- Standards and Responsibilities in Tax Practice
- Subchapter S Corporations
Bryant University, Smithfield Rhode Island
- Financial Accounting for Income Tax
- Corporate Reorganizations
- Advanced Corporate Tax Problems
- Individual Income Taxation
- Principals of Financial Accounting
Admissions
- Rhode Island
- District of Columbia (inactive)
- Certified Public Accountant
Memberships
- Former Member, Standards of Tax Practice Committee, American Bar Association, Section of Taxation
- *Worked on comments to proposed amendments to Circular 230 Section 10.27 (contingent fees of practitioners before the Internal Revenue Service)
- Former Member, Continuing Legal Education Committee, Rhode Island Bar Association
- Former Member, Continuing Professional Education Committee, Rhode Island Society of Certified Public Accountants
- Member, Tax Committee, Rhode Island Society of Certified Public Accountants
- Former Member, University of Rhode Island Tax Institute Advisory Board
- Former Chair, Rhode Island State Board of Accountancy
- Former Chair, Ethics Committee, Rhode Island Society of Certified Public Accountants
- Chair, Rhode Island Society of Certified Public Accountants Committee on Cooperation with Educators
- American Institute of Certified Public Accounts
- American Bar Association
- Rhode Island Bar Association
Community Involvement
- Former Board Member, Rhode Island Philharmonic Orchestra and Music School
- Former Treasurer and Chair, Miriam Hospital Finance Committee
- Former Board Member, Jewish Federation of Rhode Island
Education
- LL.M., Taxation, Boston University School of Law, 1974
- J.D., Boston University School of Law, 1973
- B.A., Political Science, Queens College, City University of New York, 1969