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Steve Honhart

Steve Honhart joined Profit Point Tax Technologies in 2009 and has been working with their clients to implement changes to their Extraterritorial Income Exclusions (EIT), Domestic International Sale Corporation (DISC) and DomesticProduction Activities Deduction (DPAD) calculations.

Prior to Steve Honhart joining Profit Point Tax Technologies, Steve Honhart spent 6 years as an International Tax Partner and practice leader at the accounting firm Crowe Chizek. He has experience in developing, customizing, and implementing international tax strategies to reduce effective tax rates, improve cash flows, optimize foreign tax credit profiles, generate low / no tax foreign source income and maximize US export incentives. Some of the International tax strategies included the maximization of ETI calculations, implementing DISC strategies for closely held companies, allocation and apportionment studies on expenses related to foreign source income, double dip financing structures, foreign holding company structures and modeling foreign income repatriation to optimize utilization of foreign tax credits.

Steve Honhart was a Sr. Manger in Deloitte’s national Comprehensive Tax Solutions Group (CTSG) prior to joining Crowe Chizek as an International Tax Partner. He was selected as one of the original members of Deloitte’s CTSG practice. Steve was a member of the CTSG TxT Group and Co-Lead the Quality Review function of the TxT group. His primary focus was to work with leaders of the CTSG practice and Deloitte’s Washington National Tax Group developing tax strategies and to ensure that they were properly implemented with companies. These strategies focused on lowering the effective tax rate of Fortune 200 companies. Steve assisted with the implementation of these strategies with some of the largest U.S. Exporters.

Steve Honhart was a member of the AICPA task force on the Domestic Production Activities Deduction (IRC 199) regulations. The task force commented on both the initial guidance and proposed regulations as well as met with Treasury officials on specific concerns related to the regulations. Steve Honhart also served as a member of the task force on new proposed Currency Regulations (IRC 987).

Education

MS – Taxation, University of Illinois

BS – Accounting, Michigan State University

About Profit Point Tax Technologies

Profit Point Tax Technologies is comprised of a group of highly-qualified professionals with more than 70 years of experience optimizing U.S. companies’ tax benefits utilizing the various federal income tax incentives. They are skilled in performing transactional optimizations associated with the Domestic International Sales Corporation (DISC), the Foreign Sales Corporation (FSC), and the Extraterritorial Income (ETI) regime. While the Domestic Production Activities Deduction is calculated on an “item-by-item” basis (rather than on a transactional basis), it shares many of the optimization opportunities that are present in a transactional optimization.