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.

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

• 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.

Publications

• “Tax Relief for Executive Compensation Clawbacks Under Proposed Dodd-Frank Rules”; with Nicholas Lynch and Michael Lynch, The Tax Adviser, (Cover Article) October 2016.
• “Captive Insurance Companies: Dead or Alive”; Updated based upon new laws and regulations; with Nicholas Lynch and Michael Lynch, Journal of Taxation and Regulation of Financial Institutions, Fall 2016.
• “Captive Insurance Companies: Dead or Alive”; with Michael Lynch and Nicholas Lynch, Journal of Taxation of Investments, Winter 2016.
• “The Expanded Use of Sustainability Reporting”; with Michael Lynch and Nicholas Lynch, The CPA Journal, March 2014.
• “Now is the Time: Converting a C Corporation to an S Corporation or LLC”; with Michael Lynch and David Beausejour, The Tax Adviser, August 2012. Winner, The Tax Adviser, Award for Best Article of 2012.
• “Personal Goodwill: Three Recent Taxpayer Defeats Nevertheless Affirm the Existence of This Often Forgotten Asset,” with Michael Lynch & David Beausejour, Journal of the Taxation of Investments, Winter 2011.
• “A Primer on Accounting for Income Tax and Why It Matters,” with Michael Lynch & David Beausejour, Journal of the Taxation of Investments, Winter 2011.
• “Tax Consequences of Transaction Costs,” with Lawrence H. Witner, The Tax Adviser, June 2011.
• “Tax Reform Act of 1986 Will Have Direct Impact on Attorneys,” Rhode Island Bar Journal, November 1986.
• “What You Always Wanted to Know about the Tax Reform Act of 1984 Before You Find Out the Hard Way,” with Justin S. Holden, Rhode Island Bar Journal, October 1984.
• “Caution is Advised in Investing in Tax Shelters, Part II,” with William Iannacone, Rhode Island Bar Journal, April 1984.
• “Caution is Advised in Investing in Tax Shelters,” with William Iannacone, Rhode Island Bar Journal, April 1984.
• “The Tax Reform Act of 1984, Part III, The Empire Strikes Back,” with Justin S. Holden, Rhode Island Bar Journal, December 1984.
• "Subchapter S Opportunities in Three Acts: ERTA, TEFRA, and P.L. 91-354 (Subchapter S Revision Act of 1982),” Rhode Island Bar Journal, January 1983.
• “Highlights of the Tax Equity and Fiscal Responsibility Act of 1982,” Rhode Island Bar Journal, October 1982.
• “Highlights of the Bankruptcy Tax Act of 1980,” Rhode Island Bar Journal, October 1981.

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