Road To Recovery: Professional Services
03/20/09

True Partners Consulting's CEO Cary McMillan featured in Chicago Crain's Road to Recovery: Proffessional Services.  To watch the video, Click Here.

Expanding West Coast Presence Meets Growing Tax Expertise Needs of Area Businesses

SAN JOSE – March 9, 2009 – True Partners Consulting LLC today announced the opening of two new California locations: one in San Francisco, an extension of its existing San Jose office, and one in Woodland Hills, an extension of the firm’s existing Los Angeles office. The increased West Coast presence will allow the firm to expand its ability to meet the growing needs of public companies and private enterprises with significant local operations for navigating the numerous international, federal and state tax laws and increasingly complex financial and legal regulations.

Michael Chen, a Managing Director for True Partners Consulting in San Jose who brings extensive experience in advising on federal and international tax matters with an emphasis on FAS 109 and accounting for income taxes, will oversee the San Francisco location. The firm also plans to double the size of the San Jose office this summer.

“The opening of the two new locations in Southern and Northern California is one more step towards broadening our network of strategically located offices in growth regions to meet increasingly complex client needs,” said Chen. “In just over three years, we have experienced an increased need for service capabilities in the state due to new clients, expansion of existing relationships and referrals.”

True Partners Consulting provides a broad range of compliance and consulting services. These include analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth; filing practices; and business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients' tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues – and does all of this without Sarbanes-Oxley-created conflicts by offering tax consulting but not audit services.

With nearly 25 years of experience in corporate and international tax consulting in the United States, United Kingdom and Mexico, Raymond Montero, Managing Director, True Partners Consulting in Los Angeles will lead the Woodland Hills satellite location.

“The high demand for skilled tax and business consulting services has helped propel True Partners Consulting as one of the fastest growing companies in the industry,” said Montero. “We look forward to further strengthening our position to serve local mid-market companies, especially those in the technology sector with limited or no internal tax resources.”

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Boston; and London, as well as locations in San Francisco and Woodland Hills, Calif.  There are also member firms in Paris; Turin, Italy; Barcelona, Spain; and Beijing, through the True Partners Consulting International network. Find additional information at http://www.tpctax.com/.

True Partners Consulting is the overall conference sponsor for this year's 2009 UPPO Annual Conference. Cathleen Bucholtz, Samantha Peterson and Michelle Moloian from TPC Los Angeles will be attending the conference and are all actively involved in various UPPO committees including Education and Members as Mentors. Stop by the TPC booth to visit Cathleen, Samantha and Michelle as well as the rest of the TPC Unclaimed Property Team.

To register and learn more about this event, click here.

Join TPC Los Angeles on Saturday, May 9, 2009 for the 16th Annual Entertainment Industry Foundation REVLON Run/Walk for Women Los Angeles.

Be inspired as you stand shoulder to shoulder with 50,000 participants from all walks of life, united by the common dream of finding a cure for women’s cancers.

Be part of Los Angeles’ biggest fundraiser for women’s cancers – distributing nearly $55 million over the past 15 years.

To register and learn more about this event, click here.

Best Place to Work #9 True Partners

Why it’s a Best Place to Work: In an industry that forces many to spend their days alone at their desks, knee-deep in data, True Partners believes it’s essential to create opportunities for staffers to interact. So there’s free beer and wine after 5 p.m. and a big-screen TV, Nintendo Wii game system and pingpong table for quick escapes from the daily grind. The amusements offer staffers a chance to mingle, share ideas and learn from one another.

But there’s one office perk money can’t buy: True Partners won’t hire anyone who can’t pass the collegiality test and will not keep anyone on board who doesn’t display respect and selflessness toward peers.

“There’s always going to be people who are not nice,” CEO Cary McMillan says. “We just decided that they can’t work here.”

To see the online version of this article, Click Here.

Consultants Learn to Weather the Economic Storm at Consulting magazine’s Consulting Summit 2009

Consultants nationwide are signing up now for the “Consulting Networking Event of the Year” — Consulting Summit 2009, May 6 at the Union League Club of Chicago. There, they will connect with their professional peers and explore today’s urgent theme: “Practical Solutions to Today’s Market Pressures.”

Other topics to be explored at Consulting Summit 2009 include: the current state of the consulting industry; domestic and international macroeconomic indicators and trends; economic policy programs and stimulus responses; strategies for surviving — and even thriving — in the economic downturn; and secrets currently used at Hitachi for managing talent through tough times.

More information is available at www.ConsultingMag.com/Summit2009

Guangdong Provincial Local Taxation Bureau Delegation for Large Enterprise Tax Management from China will visit TPC Chicago Office

Guangdong Provincial Local Taxation Bureau is a functional department of the Guangdong Provincial Government, responsible for the collection and administration of local taxation of Guangdong Province of China. By the end of 2007, the local tax revenue levied by Guangdong Provincial Local Taxation Bureau has ranked the first in China for consecutively 14 years, more than one seventh of the total country revenue in the same period.

The delegation is hosted by the 21st Century Institute, a not-for-profit organization based in Chicago, Illinois, which promotes the exchange of knowledge, culture, business, and human resources between China and the U.S. The delegation is made up of 23 administrators and high- ranking officials from Guangdong Provincial Local Taxation Bureau. They have expressed strong interest in visiting True Partners Consulting to learn US Corporate Tax System and Management in the U.S. It is a great pleasure of TPC to have them here. TPC is looking forward to meeting them.

Raymond Montero, Joseph McTague and Andrew Jackson add strength to leadership team

CHICAGO – November 12, 2008 – True Partners Consulting LLC today announced the addition of three new managing directors: Raymond Montero, 47, and Joseph McTague, 47, in the Los Angeles office, and Andrew Jackson, 48, at True Partners Consulting (U.K.) LLP in London, the rapidly growing firm’s first wholly owned office outside the United States.

"As part of our growth strategy, we continue to recruit some of the industry’s most talented and knowledgeable professionals to focus on our clients’ needs,” said Cary McMillan, chief executive officer of True Partners Consulting. "Raymond, Joseph and Andrew bring deep knowledge of complex tax issues in their respective regions and will infuse fresh energy and specialized expertise into our leadership teams in the L.A. and London offices."

Montero brings more than 23 years of experience with corporate and international tax consulting in the United States, United Kingdom and Mexico. In 2004, Montero formed a Professional Corporation to counsel public and private clients about cross-border structuring, transfer pricing related matters, outbound international planning and consultation relating to foreign tax credit.

Previously, Montero was a partner for six years in KPMG’s International Corporate Services (ICS) practice based in Los Angeles. Before joining KPMG, he was a partner with Arthur Andersen in London, where he led the firm’s U.S. Tax Practice based in London. A member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants, Montero has been a featured speaker at a number of industry seminars.

McTague has been a featured speaker at local, regional and national tax and economic development conferences on issues relating to income and other tax credits and business incentives, and he has led numerous focus groups relating to tax and client relations issues and shared his views on tax credit and business incentive issues with lawmakers in a number of states. McTague has been extensively involved in the California Enterprise Zone program and has worked diligently to successfully influence tax and audit policy at the agency and legislative levels. A graduate of the University of Florida, McTague earned a bachelor’s of science degree in telecommunications.

A Value Added Tax (VAT) Partner with True Partners Consulting’s London office, Jackson brings nearly 20 years experience with Big 4 firms and smaller practices. He specializes in providing indirect tax advice across a range of sectors, both private and public, and has been involved in a wide range of cross border transactions advising as part of a multidisciplinary team.

Previously, Jackson worked for HM Revenue & Customs for seven years as a VAT specialist. He has written and lectured on indirect tax issues, with a particular emphasis on property and financial service issues, and graduated from the London School of Economics.

True Partners Consulting (U.K.) LLP advises companies based in the United Kingdom, as well as multinational companies doing business there and other European markets, on a range of tax and business issues including transfer pricing, VAT, cross border transactions, structuring business operations and reorganizations. The office also undertakes all local compliance requirements.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Boston; and London. There are also member firms in Paris; Turin, Italy; Barcelona, Spain; and Beijing, China; through the True Partners Consulting International network. Find additional information at www.tpctax.com.

Smart Business
Insight. Advice. Strategy
October 2008

The ol’ college try
How to target the best candidates to fuel organic growth
By Patrick Mayock

Cary D. McMillan
CEO and founding partner, True Partners Consulting

When Cary McMillan and his peers were choosing a name for their corporate and business tax consulting firm, they wanted something that conveyed a collegial atmosphere of interdependence.

“True Partners Consulting — we picked that name on purpose because we want to be partners with our clients, we want to be partners with our people, we want our people to be partners with each other,” the founding partner and CEO says.

To facilitate that culture, McMillan has grown the 175-employee firm organically, bringing in new hires one at a time. The practice has allowed him to mold employees into active participants within the collaborative environment and has helped boost revenue from $8 million in 2006 to $23 million in 2007.

Smart Business spoke with McMillan about how to target the best candidates to fuel successful organic growth.

Q. What is the benefit of organic growth?

While it’s a lot faster to grow through acquisition, I think it’s more effective to grow organically if you can.
 Building a culture of collegiality, interdependence, quality, trust — all the words that sound good on paper — is hard to do, but it’s a lot easier to do if you bring these people in one at a time. If you bring people in, you get a chance multiple times to reinforce the values and vision of the company.

You get to do it when you’re recruiting them, you get to do it when they come here one on one with them, and they get to participate in the building of the culture.

Q. How do you find the best employees to facilitate organic growth?

You have to make sure that the home front is secure. The most important part in recruiting is to make sure that you’re creating the right culture, the right environment, the right atmosphere with the people that you already have.

The best way to find the best employees is to have a group of employees that already work for you being your real disciples out there, and when you send your people out to help recruit, really the best example of what you’re looking for is who you already have.

Q. Where do you look for these employees?

We would love to get everybody right out of their university degree, so people that have master’s in accounting, master’s in tax or people with law degrees, that’s who we recruit out of college. Some of them come here as interns to get work experience before they graduate, and we’re very fortunate in that virtually every intern that we’ve brought in has come back as a full-time employee after graduation. Some we bring in directly as they’re graduating from college.

The inexperienced people are people that we get to teach. It’s the most organic of the organic growth. We hire people, and we teach them about our culture, our values, our vision, our beliefs, and they’re not bringing a lot of baggage with them.

Q. What is a common recruiting mistake?

People, when they recruit, they tend to try to find people who look like themselves — similar backgrounds, similar experiences, similar demographics even. I think the most important thing to remember is that the success of America is more dependent upon diversity and the integration of immigrants into our society than any other country in the world.

When you go on campus, you have to have an extremely open mind, to look at candidates who perhaps don’t have the same background as you and, in fact, in some respects, their backgrounds may be difficult for you to relate to. They might actually be from a foreign country themselves, or they don’t speak English as their primary language, or they didn’t participate in the same activities you did in college.

Q. How do you make sure you’re targeting the best graduates?

The most important thing is to spend time on campus with the staff and the faculty. Help teach classes, help give presentations in front of the honors societies, pitch in — the schools are always looking for firms to help support the activities to make the students’ and the faculty’s life more interesting on campus.

Then you’re very likely to develop a good relationship with the placement department, with some of the key faculty, with some of the professional honorary societies. Those organizations and people can really get you in touch with the best students, and you get a chance to interact with them in a more informal way than the kind of high-stress, one-on-one interview.

If you just think you’re going to go down to some school and somebody’s just going to give you the secret handshake and tell you, ‘Here are the top five students. Go get ’em,’ you’re crazy, because it doesn’t work that way.

For those that put in the effort, you get the reward.

To see the online version of this article, Click Here.

Rapidly growing firm establishes offices in China, Italy and Spain

CHICAGO – Sept. 10, 2008 – True Partners Consulting LLC today announced that True Partners Consulting International Network, an association of tax consulting firms in select markets around the world, has reached agreement with three new affiliates in key international markets.

The three new member firms will join TPCI’s growing affiliates network in Beijing and Shanghai, China; Barcelona, Spain; and Turin, Italy; the company announced. The affiliates, which will be identified as “Member Firms of the True Partners Consulting International Network,” are:
•True Partners Consulting International (China) "挚盟咨询";
•Toda & Nel-lo Abogados, (Spain); and
•Studio Manzoni Pagliero Vanz e Associati (Italy).

“It is thrilling to further strengthen our ability to support our clients in the important global markets where they do business,” said Cary McMillan, chief executive officer of True Partners Consulting. “In less than three years of existence we have made aggressive efforts to support our clients wherever they do business and we’ll continue moving in that direction as we look ahead.”

The three new member firms of True Partners Consulting International will offer a powerful blend of services that True Partners Consulting clients can utilize in key international financial markets, according to McMillan.

True Partners Consulting International – China, is being formed by the owners of Hua-Ander, one of the first partnership accounting firms approved by the Ministry of Finance of the People's Republic of China. Hua-Ander is a full-service accounting, auditing and attestation firm. The new firm will provide tax services. True Partners China, will be led by Wang Guoqi, who has a rich knowledge of tax and international accounting, finance and auditing, and extensive experience in servicing multinational businesses. Guoqi and his partners have served a number of foreign investment enterprises (FIEs) and hi-tech ventures in China in the fields of business services, IFRS audit and review, due diligence, financial advisory, and management consultancy.

Founded in 1991, Toda & Nel-lo Abogados is a mid-sized Spanish firm in Barcelona, also servicing the rest of Spain (especially in Madrid), that specializes in tax & legal services. Serving clients throughout Spain, the firm’s main practice areas are taxation, company & commercial law, litigation, real estate, administrative law and labor law, and for clients in a variety of industries, such as administration (public and semi-public), real estate, pharmaceutical, health, chemical, energy and finance. The founding partners are Ignacio Toda, public prosecutor (abogado del Estado) on voluntary leave, and Ricard Nel-lo. Joan Pons is the partner who leads the tax department and will head the firm’s work with the TPC International Network.

Studio Manzoni Pagliero Vanz e Associati has been providing tax and business legal assistance for nearly four decades to select domestic and foreign clients who are leaders in their fields. The firm has significant experience in M&A transactions, business reorganization and enterprise appraisals, and its lawyers represent clients in disputed tax law matters in all degrees of Italian jurisdiction, including the Supreme Court of Cassation (Corte di Cassazione). Founded by Michele Pagliero, the firm was enlarged to Ignazio Manzoni and Giuseppe Vanz, professors of tax law at the University of Turin, and to other professionals. Natalia Operti, partner of the firm, will lead the work with the TPC International Network.

Through TPC International (a network of independently owned tax advisory firms), True Partners also has an affiliated member firm in Paris, ArtemTax International. Its first wholly owned office outside the United States is located in London and named True Partners Consulting (U.K.) LLP.

About Hua-Ander Certified Public Accountants
Now in its 11th year, Hua-Ander’s international expertise and experience, facilitated by strong English communication abilities, gives Hua-Ander an advantage in servicing foreign entities in China. The knowledge and insight into the practice of local tax and other regulatory requirements enables the firm to provide practical solutions. High quality services, personal attention to each client and issue, and reasonable fees, make Hua-Ander the best cost-effective alternative to the 'Big Four' in China.

About Toda & Nel-lo Abogados
Founded in 1991, Toda & Nel-lo Abogados offers clients 18 professionals with more than 290 years of combined experience in multidisciplinary and diverse tax and legal issues, including work with “Big Four” advisory firms, the Spanish government and major Spanish universities. Toda & Nel-lo Abogados always provide clients with traditional values, professionalism, integrity, confidentiality, honesty, and ethics, to ensure their objectives and needs are met.

About Studio Manzoni Pagliero Vanz e Associati
Established in 1971, Studio Manzoni Pagliero Vanz e Associati provides tax and business legal assistance to select domestic and foreign clients who are leaders in their fields. Made up of seven partners and eleven professionals with law and economics expertise, the firm works to create customized solutions for clients, leveraging a multidisciplinary and global approach. Studio Manzoni Pagliero Vanz e Associati also maintain close working relationships with Turin University and the academic community, and some of its members teach and/or contribute to legal and economic publications.

About TPC (UK) LLP
TPC’s London office provides tax and business advice and specializes in transfer pricing, cross border tax planning, structuring and reconstructions, start up operations and VAT and Customs Duties advice throughout the EU. With its expanding professional team, the London office offers constructive tailored advice and also provides cost effective tax compliance services. For a complementary expert tax consultation, visit www.tpctax.com

About ArtemTax International
ArtemTax International is a tax law firm specializing in inbound and outbound transactions. The team is at the forefront of tax structuring, having implemented one of the first cross-border mergers between two entities in France and in the Netherlands that encompasses tax and accounting matters. ArtemTax International is characterized by its independent and personalized approach, without the restrictions of Sarbanes-Oxley and the French law on financial securities (“Loi sur la Sécurité Financière”), and by granting clients access to a dedicated partner from start to finish, ensuring the highest level of service. The team also differentiates itself through its global approach in taking into consideration financial, accounting, and economic services.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. True Partners provides a wide range of services to its multinational clients, including global structuring, transfer pricing, repatriation planning, international compliance and treaty planning. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

True Partners has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa, Fla.; Boston; and London. Find additional information at www.tpctax.com.

True Partners looks overseas for alliances

By: Steven R. Strahler Sept. 09, 2008

(Crain’s) — True Partners Consulting LLC is adding new affiliates in China, Spain and Italy to an international network that could grow to account for 20% to 30% of the Chicago-based tax consulting firm’s business.

Founded three years ago by Cary McMillan and other Arthur Andersen alums, True Partners expects to report as much as $38 million in revenue this year, up from $22 million last year and about five times the $7.8 million it posted in 2006, Mr. McMillan said.

The overseas deals are aimed at better serving the consulting firm’s clients as they expand abroad.

“This is the first wave,” Mr. McMillan said. “We’ll have another wave, probably after the calendar new year.”

True Partners will share work and staff with a firm being rechristened True Partners Consulting International-China and with Toda & Nel-lo Abogados in Spain and Studio Manzoni Pagliero Vanz e Associati in Italy. The firm already has an office in London and an affiliate in Paris.

“The big buzz today among all the 100 top accounting firms is all about providing global services,” said Allan D. Koltin, CEO of Chicago-based industry consultant PDI Global Inc.

True Partners is among the startups that have benefited from federal regulatory efforts to separate auditing and consulting practices at accounting firms, which send referrals to True Partners, Mr. McMillan said. Among its biggest clients are NBC Universal, Starwood Hotels & Resorts, CDW Corp. and Verizon Wireless, it said.

“It’s the right concept at the right time,” Mr. Koltin said. Like Chicago’s Huron Consulting Group Inc. and other companies spawned by Andersen’s demise, he added, True Partners “picked out a very narrow niche in the marketplace and was able to go out and service it.”

Mr. McMillan, 50, started True Partners after leaving Andersen in 1999 and heading to Sara Lee Corp., where he began as CFO and left in 2004 as CEO of branded apparel. True Partners has about 175 consultants and figures to increase that number to between 400 and 500 by 2011, when revenues are projected to reach $70 million to $100 million, he said.

August CEO Spotlight: Cary D. McMillan

World Business Chicago continues to interview the city's business leaders on why they chose Chicago and what they love about the city. This month the spotlight is on Cary D. McMillan, CEO of True Partners Consulting LLC.

How long have you lived in Chicago?
Twenty-eight years. After graduating from the University of Illinois, I followed my girlfriend and college fraternity brothers here. It was scary for someone from downstate Illinois! But I was particularly helped by my colleagues at Arthur Andersen. At that time they seemed to be omnipresent in everything good about Chicago.

What is your favorite place to visit in Chicago?
Well it has certainly changed over the years, Rush Street, Lincoln Park, the neighborhoods. Those would be some of my past favorites. Today, without question, my favorite place is Millennium Park. You can find spots with peaceful, beautiful views. Or you can stand on the Promenade and watch all the kids enjoying the Crown Fountain. You can smile as thousands of people flock to the Bean (Cloud Gate). A mostly desolate railroad yard has been magically transformed into a world-class wonderland with awesome views of Michigan Avenue and the Art Institute. And it is all free!

What is the best thing about running a business in Chicago?
Businesses — all businesses — are about people. Attracting, retaining and developing people. We started True Partners two and one half years ago. We intentionally located the headquarters here in Chicago.

Why? The ability to recruit top tax professionals both experienced and right out of college is better here than anywhere in the U.S. We are surrounded by world-class universities: U of I, Notre Dame, Loyola, DePaul, Indiana, etc. And those graduating students overwhelmingly desire to begin their professional careers here. And about half of them were not originally from the Chicagoland area.

And experienced professionals love the great client base here. When companies like Boeing and MillerCoors select Chicago that just supports our client base. They also love the great mass transportation, two world-class airports and school choices for their children. The work ethic of people in the Midwest is well-known. Professional services firms succeed or fail in part based on that work ethic. No one works harder than people in Chicago.

What do you think the city could do to enhance the business environment?
We are the best place for business. So we should have the highest goals and standards.

First: mass transportation. We have a wonderful collection of systems. We need significant investment to improve and expand them. All I read about is insignificant investment to maintain what we have. Standing still, accepting what we have as good enough is surely a recipe for being passed by.

Second: airports. As good as O'Hare and Midway are they are also arguably the most valuable assets a city in the center of the country has. Especially in the age of the knowledge worker. At True Partners we can serve clients easily on either coast. That is something New York and California will never, ever have. Let's not blow that remarkable advantage!

Finally, we need to invest in our youth — our future workforce and citizens. You can't have a company without great employees. And you can't have a great city when a large portion sits, economically, on the outside looking in.

How would you describe Chicago's business community?
A great partner with the city. Enthusiastic about our future. And proven leaders in putting their money and time behind improving the cultural, educational and economic lives of all the people who live here. The two best examples of this are Arthur Andersen and John Bryan.

I worked at Andersen for 19 years. From the first day on the payroll, when we all enrolled in giving our fair share to the United Way to the last day I was there, you always knew of Andersen's incredible support for the civic institutions of Chicago.

I learned that from the great senior partners I worked for there — Jim Kackley, Bob Allgyer, Deb DeHaas and many more. You not only were expected to give your time and money, you were expected to provide leadership.

What would an ideal Saturday afternoon in the city be for you?
I would be with family or friends who don't know the city. Perhaps we start in Lakeview for breakfast at Ann Sather. Then we would bike through Roscoe Village and over to Bucktown and Wicker Park.

Grab lunch in West Town at Wishbone. Be amazed by all the people and activity in the newly booming west and near south loop developments.

Head over to the Museum Campus. Check out the Aquarium. Enjoy the lakefront. Bike back to Millennium Park for a free concert at the Pritzker Pavilion. End the night at Navy Pier with the best view anywhere and fireworks to boot.

And we never even visited Michigan Avenue, the Gold Coast or Lincoln Park!

To see the online version of this article, Click Here.

Corporate tax, intellectual and real estate property specialist strengthens firm’s expertise

LONDON – August 27, 2008 – True Partners Consulting LLC today announced Iain Robertson, 52, has joined True Partners Consulting (U.K.) LLP in London, the rapidly growing firm’s first wholly owned office outside the United States.

“Our tremendous growth over the past two and a half years partially has been fueled by clients that find themselves in need of counsel from experts with deep knowledge of European tax issues.  Many of our U.S. clients are expanding, or considering possible expansion, within Europe, which is why we continue to seek top talent like Iain, whose expertise will prove invaluable for both UK-based companies and multinational corporations that do business there,” said Cary McMillan, chief executive officer of True Partners.

Robertson specializes in a range of corporate tax issues and has advised companies of all types including start ups, large private groups and larger companies with a presence in Europe, the United States and the Far East. His areas of expertise include intellectual and real estate property planning and sales, disposals and reorganizations.

“My experience in developing innovative solutions customized to clients’ particular needs and helping businesses meet their filing requirements effectively in an increasingly challenging environment will be a great complement for the London office,” said Robertson. “I’m excited to further build upon my accomplishments and help support this ever-growing, talented team here in London.”

Prior to joining True Partners Consulting, Robertson worked at one of the Big Four firms for 11 years, and since 1999 he has served as a partner in both a national firm, where he was National Head of Tax Technical for four years, and at a well-respected regional firm present in London.

Robertson was educated at Cambridge and Oxford Universities and is qualified as a fully trained Inspector of Taxes. He has authored and presented about tax matters at various venues and serves as a technical committee member at the Chartered Accountants Tax Faculty. True Partners Consulting (U.K.) LLP advises companies based in the United Kingdom, as well as multinational companies doing business there and other European markets, on a range of tax and business issues including transfer pricing, VAT, cross border transactions, structuring business operations and reorganizations. The office also undertakes all local compliance requirements.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Boston; and London. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at http://www.tpctax.com/.

Nancy Barrett, Keith Shaffer and Scott Thomas join rapidly growing office

BOSTON – August 6, 2008 – True Partners Consulting LLC today announced Nancy Barrett, 38; Keith Shaffer, 53; and Scott Thomas, 46, have joined the firm’s Boston office as managing directors.

“We’ve seen a real need for our services in Boston, and we are delighted to be further enhancing our capabilities here through the addition of some of the best and brightest tax and business consulting minds in the industry,” said Cary McMillan, chief executive officer of True Partners. “As the fastest-growing tax firm in the country, we are committed to attracting top talent to serve our top-tier clients, and I’m confident these three leaders will be a tremendous fit.”

Barrett has more than 15 years of experience in both public accounting and the industry, which includes audit defense, FAS 109, tax due diligence, and research and tax planning, with a focus on state and local tax issues. In her new role, she manages the flex staffing service line for True Partners Consulting in New England. In addition to flex staffing, TPC also provides loan staff and direct hire solutions for corporate clients.

Prior to joining True Partners Consulting, Barrett was a managing director with an international public accounting firm. She has also served as income tax manager for a FORTUNE 100 firm, and worked in the corporate tax practices of PricewaterhouseCoopers and Arthur Andersen.

Barrett received her Bachelor of Science degree from Boston University. She is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants (AICPA), the Massachusetts Society of Certified Public Accountants (MSCPA), and the New York Society of Certified Public Accountants. Additionally, she is a regular speaker and contributor to organizations such as Lorman Education Services, a leading provider of continuing education seminars, and the Tax Executives Institute (TEI).

With more than 25 years of tax experience, Shaffer is an expert in corporate taxation and specializes in reviewing the tax postures of large multinational companies and then implementing high value tax planning strategies that have a positive impact on the effective tax rate, cash flow management and shareholder value. He is experienced in business acquisitions, divestitures, reorganizations, due diligence tax issues, and all aspects of income tax accruals, FAS 109 and FIN 48 analysis.

Previously, Shaffer was a tax partner with Deloitte. He received his Bachelor of Science degree from Northern Illinois University and is a member of AICPA and MSCPA.

Thomas has more than 20 years of tax experience serving clients in the areas of manufacturing, retailing, finance, telecommunications, transportation and entertainment. His main areas of specialization include corporate income and franchise tax planning and controversy, which include representing clients in state tax examinations and before the appellate divisions of state agencies, as well as the development, implementation, and maintenance of effective tax rate planning with a focus on the business of clients. More specifically, these services include reviews of existing tax returns, changes to corporate structures, due diligence, and the filing of amended state tax returns. Additionally, Thomas has led numerous sales, employment and property tax engagements.

Thomas joins True Partners Consulting as a multistate tax partner, after serving as the New England regional director of tax for an international accounting firm. Prior to that, he served as a multistate tax partner at Deloitte. In his previous professional experiences, Thomas was based in both Massachusetts and Connecticut.

Thomas received a Bachelor of Arts degree from the University of Connecticut, and a Juris Doctorate and Master of Laws in Taxation degree from the University of Bridgeport’s School of Law in Bridgeport, Conn. He is also licensed to practice law in the state of Connecticut, and currently teaches multijurisdictional taxation for the Bentley College Master of Science in Taxation (MST) program in Waltham, Mass.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes Oxley created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Boston; and London. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at http://www.tpctax.com/.

Managing Director’s deep state income tax expertise increases firm’s strength

CHICAGO – May 16, 2008 – True Partners Consulting LLC today announced that Mariano Sori, 44, has joined its Chicago office as managing director.

With 19 years of experience in state tax consulting, Sori will concentrate on state income and franchise tax issues such as jurisdiction to tax, apportionment of income, unitary taxation, business/non-business income, allocation of partnership items, and state filing options.

“We’re pleased to be welcoming Mariano, who will help enhance the Chicago office and make significant contributions to clients across our network,” said Cary McMillan, chief executive officer of True Partners. “We are committed to bringing in top talent to ensure we offer our clients the very best tax and business consulting services.”

Sori will deliver state tax diagnostic reviews designed to provide businesses with an assessment of their state tax position, including the identification of refund and prospective filing opportunities and the reduction of exposure in multiple jurisdictions. As part of his practice, he will perform corporate restructuring projects that assist companies in designing and implementing structural enhancements to minimize their state tax liabilities and generate long-term state tax reductions.

Additionally, Sori will consult on all aspects of state income tax, including participating in mergers and acquisition transactions that evaluate the state tax impact of expanding or diversifying business operations, drafting opinion letters that analyze the state tax consequences of business transactions, and assisting companies with compliance requirements, state tax accrual reviews, and state tax controversy. He has worked with Fortune 500 and mid-sized companies in various industries including manufacturing, retail, financial services, real estate, and transportation.

Before joining True Partners, Sori worked for 10 years at Deloitte & Touche LLP as part of the firm’s national state and local tax practice, where he was Director of several state income tax offerings. Prior to Deloitte & Touche LLP, he was with KPMG Peat Marwick’s State and Local tax practice.

“I’m looking forward to contributing to the firm by leveraging my state income tax consulting expertise,” said Sori. “It’s exciting to become part of the fastest-growing tax practice in the country.”

Sori has a bachelor of science degree in accounting from Indiana University and a juris doctorate degree from IIT-Chicago Kent College of Law. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants, the Illinois Certified Public Accountants Society, and the American Bar Association.

About True Partners Consulting LLC

True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Boston; and London. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at www.TPCtax.com.

Unclaimed property specialist strengthens firm’s expertise

LOS ANGELES – May 1, 2008 – True Partners Consulting LLC today announced that Cathleen Bucholtz has been promoted to managing director and national unclaimed property practice leader.

As the national leader for True Partners’ Unclaimed Property practice, Bucholtz oversees one of the largest dedicated professional teams in the industry that provides multi-jurisdictional unclaimed property services in the areas of audit defense, voluntary disclosures, comprehensive diagnostic reviews, annual compliance, process improvements, and other customized services to meet client needs. She brings more than 16 years of experience in both unclaimed property and sales and use tax consulting, including statistical sampling, training client personnel, and identification of planning opportunities.

“Cathleen was a natural fit for this position,” said Cary McMillan, chief executive officer of True Partners. “Her proven excellence in this area is of utmost value to the firm, and her industry leadership and involvement will help us continue our tremendous growth.”

Prior to joining True Partners Consulting, Bucholtz was the western region leader for KPMG’s Unclaimed Property practice and prior to 2002 she was an integral member of Arthur Andersen’s National Unclaimed Property team. Before entering public accounting, Bucholtz worked for the California State Board of Equalization as a senior tax auditor and acting field audit supervisor, where she was responsible for conducting a wide variety of field audits of major corporations in various industries.

“It is exciting to continue leveraging my background on behalf of the firm’s clients.  The in-depth experience I have gained over the last 16 years has enabled me to provide the highest quality service to my clients.” said Bucholtz “I look forward to applying that knowledge and experience to an increased segment of clients in my new role.”

Bucholtz has a long standing history and commitment to the education of industry professionals in the area of unclaimed property. She has spoken before numerous trade and professional organizations including the Unclaimed Property Professionals Organization (UPPO); American Payroll Association (APA); Institute for Professionals in Taxation (IPT); and the National Business Institute (NBI).

Since 2006, Bucholtz has served as the UPPO Education Committee Co-Chair and is responsible for the development and execution of the organization’s annual and regional educational conferences for hundreds of participants annually from a wide variety of industries, including transportation, financial, insurance, retail, manufacturing, and health care. She was recently nominated for candidacy as the second vice president to the UPPO Board of Directors for 2008, a prominent leadership position that automatically succeeds to first vice president in 2009 and president in 2010.

A graduate of the University of California in Santa Barbara, Bucholtz earned a Bachelor of Arts degree in business economics, and is a licensed Certified Public Accountant (CPA) in the states of California and Washington. Bucholtz is also a member of the American Institute of Certified Public Accountants.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both tax consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Boston; and London. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at www.tpctax.com.

Rapidly growing firm extends global reach to serve multinational clients

CHICAGO – April 18, 2008 – True Partners Consulting LLC announced today that it is launching its first wholly owned office outside the United States, which will be located in London and named True Partners Consulting (U.K.) LLP.

The new office will be led by Kim Brandt and Les Secular, who together have more than 40 years’ experience advising on tax issues throughout Europe, particularly for U.S. companies expanding operations overseas.

“The tremendous growth we’ve experienced in the last two years has greatly increased our need to establish a global presence for our clients with operations around the world,” said Cary McMillan, chief executive officer of True Partners. “We are thrilled to add a London office that will enhance our ability to provide clients in key global markets with ‘world-class’ tax and business advisory services.”

Additional new offices are currently in the discussion phase for Spain, the Netherlands, Italy and China—some of which will be network member firms through TPC International, an affiliated company, formed in October 2007. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network.

True Partners Consulting (U.K.) LLP will advise companies based in the United Kingdom, as well as multinational companies doing business in the United Kingdom and other European markets, on a range of tax and business issues including transfer pricing, VAT, cross border transactions, structuring business operations and reorganizations. The office will also undertake all local compliance requirements.

“We are extremely pleased to be part of True Partners Consulting,” said Kim Brandt, Partner, True Partners Consulting (U.K.) LLP. “We believe that the firm’s distinctive approach is well-suited to the needs of companies doing business in Europe, and we look forward to providing a differentiated offering to companies in need of fresh thinking on corporate tax and other business issues.”

Les Secular, Partner, True Partners Consulting (U.K.) LLP, added, “The core service strengths we offer in the London office will be further complemented by True Partners’ ability to work fluidly across geographies to access specialized areas of industry expertise and create customized solutions that fit clients’ needs.

About True Partners Consulting LLC

True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

True Partners has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa, Fla.; Boston; and London. Find additional information at www.tpctax.com.

By Joseph Kornik, Consulting Magazine
Mar 17, 2008
Read The Original Article At Consulting Magazine

The Hidden Gems of the Consulting Profession

Each year, Consulting magazine recognizes the Seven Small Jewels of the industry. But our annual celebration of the little firms that could has evolved from simply a way to recognize those often overlooked firms to a testament to the impact that all small firms are having on the industry. They are helping shape and redefine the consulting marketplace. In many ways, the seven firms featured this year represent a snapshot of the new consulting landscape. Smaller firms are no longer flying under the radar. Rather, they are playing in the big leagues and challenging the legacy firms by going after their clients and their talent. And, in many cases, they are winning. The 2008 Seven Small Jewels—ranging in size from $3 million to $52 million and from just 13 billable consultants to 200—are leading the charge of the resurgence of the small, niche, consulting firm that plays a major role in the profession today.

True Partners Consulting
 
Sometimes, all a consulting firm needs is an opportunity. In the case of Cary McMillan, co-founder and CEO of True Partners Consulting, that opportunity came about six years ago with the passing of the Sarbanes-Oxley Act. True Partners, a tax and business advisory firm, actually didn’t even launch until late in 2005, but the groundwork for that launch was laid back in 2002 with Sarbanes-Oxley. “Sarbanes-Oxley was a once- in-a-lifetime thing. It was the best thing to happen to auditors since the passage of the Securities and Exchange Act in the 1930s,” McMillan says. “But the act meant that audit firms needed to distance themselves from their audit clients. As a result, we’re getting an opportunity to bid on work that the auditors would have previously done.”

Chicago-based True Partners, like so many other success stories in consulting over the last few years, was founded by six ex-Arthur Andersen partners. Five of those partners were in the tax practice at Anderson. McMillan left Anderson before its demise in 1999 and was the chief financial officer of the Sara Lee Corporation before launching True Partners.

“The genesis of True Partners was our thought of, ‘Why be partners with auditors when you can’t share clients with them?’ The answer was True Partners. We tried to create the same quality and feeling of a big accounting firm for our tax people without having the downside of the auditors,” McMillan says. “We offer the best of both worlds: We’re a firm with Big 4 expertise, but without the accompanying bureaucracy and potential conflict of interest.”

When he launched the firm, McMillan says he was concerned about how it would be perceived in the marketplace. “We’re not one of the Big 4. Will we be accepted by the types of clients we wanted with a name—True Partners—that’s only been around for a few years,” he says. “The most encouraging part of this so far to me is that the client reception and reaction to us has been extremely positive. We’re thrilled with our client list, and I would match it up with any of the Big 4.”

And that client list must be growing, as well. From its original Chicago office and six co-founders, True Partners has grown into a firm with seven offices and 200 billable consultants. McMillan says he expects the firm to do about $35 million in 2008—more than 50 percent higher than the $23 million the firm did the year before. Meanwhile, it increased its revenue nearly 200 percent in 2007 from 2006, when it billed $7.8 million in revenue. By 2011, McMillan expects the firm to be between 400 and 500 billable consultants and $70 million and $100 million in revenue.

“We started with six, and now we’re closing in on 200 people, and we pretty much built this business from scratch,” he says. Building a firm that grows some 50 percent every year organically is no small task. And, like with many firms, finding and hiring qualified talent has been the biggest challenges and impediments to growth for True Partners, McMillan says. “That first year, our eyes were bigger than our stomach,” he says. “The problem was recruiting. If you can’t find the right people, you can’t do the work. And, initially, we were looking for experienced hires, which makes it even more difficult. That first year, you need experienced folks to do the client work. When you walk into a client site with an experienced workforce, you tend to get asked back.”

Now, True Partners has shifted its approach to focus on hiring more junior people coming out of school. But the recruiting game is never easy, McMillan says. “We’re not going to bring someone in here who doesn’t fit our culture,” he says. “I’m a big believer in culture. We’re building that culture one person at a time. That culture at a firm is very difficult to articulate and very difficult to get, and it’s very easy to wreck. You wreck it when you do acquisitions and bring other people’s culture into your own firm.”

Which is why all of the firm’s future growth will be organic, McMillan says. He is looking at two potentially two new U.S. locations—the Southwest and metro New York. Internationally, True Partners already has a Paris affiliate and eventually will have affiliated members in Western Europe, Asia and possibly Latin America.

“Good things happen to those who grow,” McMillan says. “It’s what we tell recruits all the time, growth is a big opportunity presenter. At True Partners, you’ll be part of a growing firm, and you’ll be getting all those opportunities that come with it.”

True Partners Consulting was featured in the April 2008 edition of Business Week Chicago magazine.

Click here to view a screenshot of the article

Click here to read the full issue of the magazine (we're on page 43)

By Melissa Schmitt, Medill Reports
Mar 13, 2008
Read The Original Article At Medill Reports

In 2005, a group of ex-Arthur Andersen accountants opened the doors on a unique tax and business consulting start-up that's since experienced triple-digit growth in revenues, has added employees every month, and recently opened its first European office.

The company, True Partners Consulting LLC, headquartered at 225 W. Wacker Dr. in the Loop, went into business to rival industry giants Deloitte, Ernst & Young, PricewaterhouseCoopers and KPMG in all but one area.

They would not be auditors, allowing the young company to overcome the adversarial relationship now common between big businesses and their tax/auditing firms.

Without auditing services, True Partners could take on more tax and consulting work than the "Big Four," which had to cut back on their tax work for their auditing clients in order to comply with new regulations under the Sarbanes-Oxley Act of 2002.

Sarbanes-Oxley, or “Sox” as it’s called in accounting circles, aimed to eliminate the kinds of conflicts of interest that led to the accounting scandals and eventual implosions of WorldCom Inc., Enron Corp. and accounting giant Arthur Andersen LLP.

"This was the single most important part of the original plan," said Cary McMillan, 50, a Lincolnshire resident and the CEO of True Partners. "We're not going to be auditors," he said, explaining that firms that do both tax consulting and auditing must retain a certain independence from their clients.

This new approach, coupled with McMillan's careful cultivation of a business culture that encourages entrepreneurialism among staff, has allowed True Partners to experience tremendous growth in only two years, from $8 million in revenues in its first year in 2005, to $23 million in revenues in 2007. And McMillan expects fees to grow in excess of $35 million in 2008.

Starting from a staff of five, the company has hired new employees every month since it opened its doors, and now has 175 people in six cities across the U.S. and one affiliate in Paris. New offices are currently in the planning phase for London, Spain, the Netherlands, Italy and China.

The global presence is vital to True Partners' clients, many of which are Fortune 500 and Fortune 1000 companies with operations around the world. They turn to True Partners for all types of tax and business development advice, from general tax opinions, to operational and accounting consulting to business restructuring, bankruptcy and even international tax planning.

While the company has been successful, it wasn't easy to get it off the ground.

After McMillan accepted the role as the start-up’s first CEO, he had to pitch the idea to a slew of private equity firms to raise the necessary capital needed–in excess of $25 million–just to open the doors. He was successful after one year, reaching a deal with Waud Capital Partners in Chicago.

It is highly unusual for private equity firms to fund accounting start-ups. "They like businesses where there are assets, but when your best assets are your people…that's very unusual," McMillan said.

But Waud saw an opportunity in True Partner's business plan. After Sarbanes-Oxley passed in 2002, the big accounting firms were limited in the amount of non-auditing services they could provide for a client if they also acted as the client's auditor.

Since True Partners would not be auditors, this opened up an opportunity for the young start-up to garner extra business.

"[Waud Capital Partners] saw that [the bigger firms] may not be able to dominate like they had in the past," McMillan explained.

Next, McMillan and his skeleton crew had to attract not only business, but also employees who were leery of leaving the relative safety of jobs at more-established accounting and law firms in favor of a start-up with no track record. It was a goal of McMillan's to recruit people with years of experience in the business, which made it that much more difficult.

"We had to sell people to get business and sell to get people to come work for us," McMillan said. "I really had no idea if it was going to work."

McMillan said he wasn't confident about the viability of the business until the middle of the second year, when he noticed True Partners had improved its top line every month since they opened.

"Everyone [potential clients] was using someone else," he said. "We were asking them not only to choose a new provider, but replace their provider, who they had often used over multiple years."

McMillan said it was the company's early decision to axe auditing services that has paid off the most. While competitors like Deloitte or Ernst &Young must undergo lengthy approval processes to comply with Sarbanes-Oxley before taking on new projects, True Partners has no such restrictions.

"We have a much more experienced work force, our prices are better and we're more willing to accept a project quickly," he said.

McMillan said it was also part of the early strategy to take even the smaller projects that bigger firms might pass over. "Sometimes we'd do small projects, maybe for a few days, with one of our experienced people. A few months later, we'd be called for a bigger project, with seven or eight of our people."

Many at True Partners feel it's not just the structure of the company, but also the leadership of Cary McMillan that's made the young company a success. McMillan, a former auditor at Arthur Andersen with nearly 20 years of experience, was also the CEO of Sara Lee Branded Apparel. While working for Sara Lee, McMillan said he was energized working with creative types like the designers and marketers that brought the apparel line to fruition.

"Cary is a visionary," said Victor Polanco, the chief operating officer of True Partners. "He is a business builder and a culture builder. His passion for people and people development is unparalleled."

True Partners has no dress code and the office is entirely wireless, encouraging people to take their work where they like, often to the company's cultural center where they can help themselves to a well-stocked kitchen while bouncing ideas off colleagues. McMillan is also careful in his hiring, saying, "I don't want to work around people who don't treat people well."

Most important to McMillan, though, is providing his staff with the opportunity for rapid promotion, which he says doesn't exist at bigger firms where the auditing side of the business generates more business and where there are fewer opportunities for tax professionals to advance in their positions or their earnings.

"If you take the risk of joining us, we'll pay you back," he said, adding that salaries at the company are competitive with the bigger firms, and that they've had little turnover since they opened. McMillan said bigger firms often have turnover between 20 to 30 percent every year.

McMillan sees plenty of opportunity for True Partners to continue to grow at a brisk pace, despite the fact that the biggest four companies in the industry have an 80 percent market share of the business.

"In five years, I'd like to have 500 professionals working here, have a coast to coast presence, and I'd like to be one of the top four firms in Chicago, which is a big deal."

As for the payoff for his venture capital investors, Waud Capital Partners, McMillan says there is little likelihood that True Partners would be acquired by a larger company.  But he isn’t ruling out taking the company public sometime in the next several years.

“It’s definitely a possibility,” McMillan said, but he added that the company would have to quadruple its annual revenues before an IPO would make sense. “I wouldn’t rule it out down the line.”

Former General Counsel for Ill. Department of Revenue strengthens firm’s legal expertise

CHICAGO – February 14, 2008 – True Partners Consulting, LLC today announced that Mark Hellner has joined the Chicago office as the firm’s General Counsel and as a Managing Director.

Hellner brings 30 years of legal experience in both private practice and with the State of Illinois, where he served as General Counsel for the Illinois Department of Revenue. He has a wide variety of corporate and litigation experience, including working and navigating laws in more than 30 states.

“My previous work in a cross-section of legal disciplines will help me build this important capability for True Partners,” said Hellner. “I look forward to bringing my complementary expertise to the firm and offering clients an additional perspective for tax and business-related consulting issues.”

A licensed attorney in Illinois, Hellner is also admitted to the U.S. Supreme Court, several Federal District Courts and the Sixth, Seventh and Eighth U.S. Circuit Courts of Appeal. He has been actively involved with the Illinois State Bar Association, where he served three terms on its Assembly and chaired several of its committees, including Supreme Court Rules, Judicial Evaluation and the Civil Practice Section Council.

“Since launching the company two years ago, we’ve placed a great emphasis on growing and broadening our expertise, and we saw a real benefit to adding an experienced legal expert,” said Cary McMillan, chief executive officer of True Partners Consulting. “Mark’s leadership and unique background will help continue the success we’ve established, as well as create vital opportunities in new areas.”

Hellner earned a Bachelor’s degree from Illinois State University and a Juris Doctorate degree from the University of Illinois, where he is an Adjunct Professor of state and local tax.

He has been a frequent speaker and author for a wide variety of Continuing Legal Education (CLE) programs including State and Local Tax Conferences at Georgetown University Law Center and New York University, as well as the National Multi-State Tax Symposium in Florida.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at www.tpctax.com.

Sales tax specialist strengthens firm’s expertise

LOS ANGELES – January 29, 2008 – True Partners Consulting LLC today announced that Dena Hall, 41, has been promoted to managing director.

As the national leader for True Partners’ Sales and Use Tax Compliance and Automation Services practice, Hall oversees the firm’s sales tax compliance center, which is responsible for the preparation of clients’ monthly sales and use tax returns. She has more than 15 years of public and private expertise in multi-state sales and use tax consulting and compliance, including specialized knowledge in the retail, manufacturing, wholesale distribution and software arenas.

“I’m delighted to join the leadership team of this firm, as my experience in a wide range of sales and use tax processes and automated solutions has been welcomed by a number of clients, and I look forward to serving an expanded set of clients in my new role,” said Hall. “It will be exciting to continue leveraging my background on behalf of clients, as well as my in-depth knowledge of Vertex and Taxware software.”

Prior to joining True Partners Consulting, Hall was the national sales tax compliance and technology leader for Jefferson Wells International. She was directly responsible for the development of Jefferson Wells’ Transaction Tax Process Solutions practice, with a focus on sales tax department process design, re-engineering and best practice reviews. Previously, she was the western area leader for Arthur Andersen’s Contract Tax Services practice.

“We strive to provide our clients with the best and brightest tax and business consulting minds, and Dena exemplifies this commitment,” said Cary McMillan, chief executive officer of True Partners. “Her extremely relevant experience and command of industry IT tools are an excellent resource for the firm.”

Hall has spoken on the topic of sales tax outsourcing, process and technology at various events, including the Institute for Professionals in Taxation Sales Tax Symposium, Vertex’ Annual Exchange and the World Resource Group.

A graduate of the California State University at Fullerton, she earned a bachelor of administration degree in accounting. She is a member of the Association for Computers and Taxation (ACT) and the Institute for Professionals in Taxation (IPT).

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at www.tpctax.com

Joanne Chun Hughes and Dorothy Radicevich join Chicago leadership team

CHICAGO – January 29, 2008 – True Partners Consulting LLC today announced that Joanne Chun Hughes, 36, and Dorothy Radicevich, 36, have been promoted to managing directors in the Chicago office.

“Joanne and Dorothy’s specialized expertise have benefited a number of our clients, and we are extremely pleased to add their unique strengths to our leadership team,” said Cary McMillan, chief executive officer of True Partners.

Primarily specializing in federal corporate tax consulting with an emphasis on Section 199 and accounting methods, Chun Hughes has more than ten years of tax and legal experience.

“I’m delighted to continue contributing to a firm that is an ideal fit for my background,” said Chun Hughes. “As a managing director in the Chicago office, I will have the opportunity to provide tax planning counsel to an even broader cross-section of True Partners clients.”

Before joining True Partners Consulting, Chun Hughes was a practicing attorney where she assisted multinational corporations with tax protests and contractual and litigation matters in both federal and state courts. Prior to that, she was with the Chicago and national offices of Deloitte & Touche LLP’s Federal Tax practice and the Chicago office of Arthur Andersen’s Large Corporate Tax Consulting practice primarily focused on implementing various federal tax consulting strategies for Fortune 500 companies.

Chun Hughes earned a bachelor of arts degree in political science from the University of Illinois at Champaign-Urbana, and a juris doctorate degree from the Loyola University of Chicago School of Law. She is a licensed attorney in Illinois and Michigan. 

Radicevich has more than 11 years of experience in state and local taxation, specializing in property taxes. Her industry focus has been in manufacturing, retail/distribution, airline, service and telecommunications.

“My wide range of state and local tax experience in various industries is directly in line with the types of services clients seek from True Partners,” said Radicevich. “It’s exciting to be recognized for contributing those skills to the firm, and to gain the additional growth opportunities offered by the strong leadership and unique environment offered at this firm.”

Prior to joining True Partners Consulting, Radicevich was a senior manager at Deloitte & Touche LLP in Chicago. Previously, she spent more than eight years with the Chicago office of Arthur Andersen’s State and Local Tax practice.

Radicevich has managed contract tax services engagements for personal and real property for large corporations in the manufacturing industry, including compliance, tax bill payment, real estate, incentive, appeal and negotiations functions. Additionally, she has performed real and personal tax diagnostics on behalf of Fortune 500 and other large companies, and has managed property tax engagements involving obsolescence studies.

Radicevich has been involved in the firm-wide property tax methodology team and participated in the ongoing development and update of process methodology utilized in ensuring quality and efficiency in all property tax engagements performed by the firm.

A graduate of Northern Illinois University, she received a bachelor of science degree in accountancy, and is a member of the Institute for Professionals in Taxation (IPT).

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. There is also a Paris office, ArtemTax International, which is the first member firm in the True Partners Consulting International network. Find additional information at www.tpctax.com

LYDIA House

At a time when our culture often seems to be coming apart, LYDIA is helping put families back together. Founded as an orphanage in 1916, it has become a successful alternative to state-run foster care and family assistance agencies. LYDIA’s faith-based approach to helping troubled families and children is unique, reaching people in diverse communities with a continuum of clinical and supportive services.

The TPC Chicago interns will be accompanying LYDIA students for lunch and miniature golf at Chicago's Navy Pier.

For more information about LYDIA please, click here.

The Walter and Connie Payton Foundation

After last years success, the Chicago interns will again coordinate the collection of school supplies for area children.  The Walter and Connie Payton Foundation is dedicated to the emotional healing of neglected, abused and under-privileged children by providing tools and opportunities to build self-esteem and encourage a better family unit.

For more information about The Walter and Connie Payton Foundation, click here.

Read more

The Lincoln Park Community Shelter (LPCS) is comprehensive social service agency serving adult men and women who are experiencing homelessness. Located in Chicago's Lincoln Park neighborhood, the LPCS has been providing shelter and other basic needs to our homeless neighbors for over 20 years. Today, the LPCS provides transitional housing, meals, and a targeted array of social services to over 450 people each year.

For more information about the Lincoln Park Community Shelter, click here.

The Glass Slipper Project

The TPC Chicago office is participating in the Glass Slipper Project. The Glass Slipper Project collects gently-worn fromal dresses, bridesmaid dresses and prom dresses, as well as shoes, evening bags, jewelry and unused makeup. With assistance from the Chicago Public Schools and other organizations, the Glass Slipper Project give young women the opportunity to select a prom dress, free of charge, and attend their proms feeling confident, stylish and inluded.

Dresses and accessories in excelent condition may be dropped off anytime until Aprile 17, 2009. For more information please call the Glass Slipper Hotline at 312.409.4139 or visit their web site at www.glassslipperproject.org.

Ketchum-Downtown YMCA Stair Climb To The Top

On Friday, September 26th, TPC's Los Angeles office will participate in the Ketchum-Downtown YMCA Stair Climb To The Top. At 1,108 feet, The US Bank Tower is the tallest building west of the Mississippi. Climbers will race, walk, or crawl up 1,500 steps (75 stories) and take an elevator down*. Most participants will climb to the top in 20 to 45 minutes. Elite climbers will race to the top in 13 minutes or less. The course record is 9:28. If you would like to know more about this event, please Click Here.

Christopher House is a five-site family resource center. Through child and youth development, teen parent support, literacy, counseling and emergency services, Christopher House provides a web of support to children and their families. This support produces results: happy, healthy, school-successful kids, literate working parents, and stable, nurturing families.

Through their annual holiday program, over 500 families receive gifts & food during the holiday season.  Cash and in-kind donations are accepted and distributed directly to our families to help make the season a time of joy. Christopher House matches families and individuals in need with donors who are willing to provide gifts, gift cards or cash donations to be used towards purchasing items that the family can use throughout the year.  This is an excellent opportunity for anyone who wants to help make the holidays a special time for children and families.

For more information about Christopher House, click here.

The Cara Program has placed over 2, 200 individuals in permanent, quality jobs with benefits with a current average starting wage of $10.73 per hour, more than $4.50 above the federal minimum wage. Cara Graduates boast a one-year job retention rate of 72%, in large part facilitated by their intensive post-employment support services – encompassing case management, goal setting, financial literacy, matched savings, career advancement and housing.

For more information aboutThe Cara Program, click here.

TPC Los Angeles office employees lace up their running shoes to participate in the California CPA 5K run/walk.

The money raised benefits CalCPA Scholarships, Venice Boys & Girls Club, Reading is Fundamental of Southern California, and the Westside Food Bank.

For more information about this event, click here.

The 2008 Sales And Use Tax Symposium

Presenting – Kevin J. Herzberg, CPA
Subject - Income Tax For Sales Tax Professionals
Time – Monday, September 22nd – 3:45pm – 5pm

To many sales tax professionals, listening to their income tax counterparts may sound like listening to someone speaking a foreign language.  However, there are important areas of overlap, common concepts, and a need for integratoin of efforts to enusre optimal tax compliance in both areas and to enhance tax planning opportunities.  Join this session to gain a better understanding of the state & local income tax world.

For more information on the Sales and Use Tax Symposium, click here.

Every Child Deserves Happy Memories

The Family Giving Tree is a nonprofit organization based in California's San Francisco Bay Area, dedicated to fulfilling the holiday wishes of children who would otherwise go without gifts.

The Giving Tree Holiday Program works with more than 250 Bay Area social service agencies. These agencies supply us with the names and wishes of the children they serve year-round. A wish card is printed for each child, detailing their age, gender, first name and their wish for a holiday gift.

Over 900 Bay Area companies and schools participate in the program by displaying the wish cards, often on trees, in their lobbies and other public areas. It is the generosity of employees, customers and students that make this program a success. By selecting a wish card, these individuals pledge to purchase a gift for a child in need. Each December, 100,000 square feet of space is donated to The Family Giving Tree to process the children's gifts.

For more information on The Family Giving Tree, click here

2007/2008 Federal Tax Conference

Presented by the ISBA Federal Taxation Section

Presenting – David F. Jarmusz, ESQ, CPA
Subject – Corporate and Partnership Update

Dates and Locations

Springfield
Friday, January 11, 2008
Prairie Heart Institute at St. John's Hospital
James T. Dove Conference Center
619 E. Mason Street

Chicago
Friday, January 25, 2008
Chicago Chapter Appraisal Institute
205 W. Wacker Drive, Suite 200 A & B

For more information about the 2007/2008 Federal Tax Conference, click here.

America's Second Harvest of Tampa Bay is a food bank, an Affiliate Member of the national America's Second Harvest food bank network, and they service 10 counties in west central Florida. Since they began in 1982, they have processed and distributed 90 million pounds of safe and nutritious surplus food to those who need it most.

Through their combined efforts with over 300 partner charities and churches, America’s Second Harvest of Tampa Bay currently distributes enough food in a single week to provide over 50,000 meals.

For more information about this organization and how to help, click here.

PAWS Chicago is the city's largest no-kill humane organization. Their  work is focused on alleviating our city's tragic pet overpopulation problem–19,701 dogs and cats were euthanized in Chicago in 2006. PAWS Chicago envisions a no-kill Chicago–a city in which pets are not destroyed just because they are homeless.

Managing pet overpopulation by killing is a way of the past. Collecting, holding, destroying and disposing of unwanted pets is costly and not the work of a humane organization. Private animal welfare resources should go solely to saving lives, prevention and education.

For more information about PAWS Chicago and how you can help, click here.

TRUE PARTNERS CONSULTING TO FORM TRUE PARTNERS CONSULTING INTERNATIONAL; FIRST MEMBER FIRM OUTSIDE U.S. OPENS IN PARIS

Rapidly growing firm expanding to support multinational clients

CHICAGO – October 24, 2007 – True Partners Consulting LLC (TPC) announced that it is forming True Partners Consulting International, an affiliated company that will become a network of tax consulting firms in select markets around the world.

The first member firm in the network opens today in Paris, the company announced. To be known as ArtemTax International, “a Member Firm of the True Partners Consulting International Network,” the new firm will be led by Hervé Bidaud, who has nearly 30 years of experience in international tax matters, cross border transactions, group restructuring mergers and acquisitions, and joint ventures.

“We have referred to True Partners as a ‘world-class’ tax and business advisory firm since our founding 18 months ago, and today we are very pleased to have extended our services beyond the U.S. into other parts of the world,” said Cary McMillan, chief executive officer of True Partners. “As the world of business becomes increasingly globalized, we need to be able to support our clients wherever they do business – and we soon will be taking additional steps in that direction.”

Through TPC International, True Partners eventually will have affiliated member firms in strategically selected markets in Europe, Asia and potentially, Latin America.

ArtemTax International will advise companies based in France, as well as multinational companies doing business in France, on a range of tax and business issues including management of tax risks, the optimization of effective tax rates and the implementation of transfer pricing policies. Artemtax International is also handling tax litigation matters.

“The senior professionals of our global network, including ArtemTax International, have the technical skills and problem-solving ability to understand the accounting, financial and economic aspects of international business challenges,” said Hervé Bidaud. “In addition, many of our network members have been part of networks of independent accountants in the past, exerting a great deal of leadership on the accounting and economic aspects of structuring international transactions, including transfer pricing issues.”

About ArtemTax International
ArtemTax International is a tax law firm specializing in inbound and outbound financial transactions. The team is at the forefront of tax structuring, having implemented one of the first cross-border mergers between two entities in France and in the Netherlands that encompasses tax and accounting matters. ArtemTax International is differentiated by its independent and personalized approach, without the restrictions of Sarbanes Oxley and the French law on financial securities (“Loi sur la Sécurité Financière”), and by granting clients access to a dedicated partner from start to finish, ensuring the highest level of service. The team also differentiates itself through its global approach in taking into consideration financial, accounting, and economic services.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

Thefirmhas offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.

Joel Gross and Thomas McQueen join as partners to lead newest location

BOSTON – September 10, 2007 – True Partners Consulting LLC today announced Joel Gross and Thomas McQueen have joined its new Boston office as managing directors.

“As the fastest-growing tax practice in the country, we are committed to attracting top talent to ensure we offer our customers the very best tax and business consulting services,” said Cary McMillan, True Partners’ CEO. “Joel and Thomas will be an integral part of our success in moving the firm forward and continuing to offer the best and brightest tax and business consulting minds to our clients.”

Gross has more than 10 years of experience in the areas of federal and international tax planning and transfer pricing. His clients have included Fortune 500 and mid-sized companies in a variety of industries, including manufacturing, retail, financial services, technology and life sciences.

“I look forward to playing a leadership role in the new Boston office and providing tailored solutions to clients through my work in federal and international tax planning and transfer pricing,” said Gross. “It’s exciting to bring complementary expertise to True Partners, a rapidly growing firm that in just over a year already possesses a unique culture and strong leadership.”

In addition to serving clients within the federal and international taxing industry, Gross will provide consulting services including subpart F planning, worldwide tax minimization planning, global reorganizations, foreign tax credit planning, international tax structuring, and tax controversy.

Prior to joining True Partners Consulting, Gross worked with Arthur Andersen and Ernst & Young, as well as Robinson & Cole LLP, a regional law firm.

Gross received a Bachelor of Arts degree in Government/Political Science from Skidmore College, where he was a member of the Periclean Honor Society. He received a law degree from the Western New England College School of Law and his Master of Laws in Taxation degree from the Boston University School of Law Graduate Tax Program with a concentration in International Taxation. He is a member of the Boston Bar Association and Massachusetts Bar Association.

McQueen specializes in the areas of international tax, federal tax, transfer pricing, and tax controversy. He has extensive tax problem solving skills and has assisted multinational companies in over 65 countries in resolving both inbound and outbound issues. McQueen represents clients before the IRS in tax controversy matters, as well as advising clients in mergers and acquisitions.

“My technical expertise and extensive business acumen allow me to navigate through the intricate nature of the current tax laws while communicating effectively to multinational clients in an easily understood manner,” said McQueen. “I look forward to being part of the team committed to building upon the strong foundation that has been established within the company’s first year.”

Prior to joining True Partners Consulting, McQueen served as the head of the international tax practice at a regional law firm of 225 lawyers. In that capacity, he provided international tax and transfer pricing services to numerous companies, including several Fortune 50 companies. He also served as one of the technical leaders of the Global Tax Minimization team at a Big Four firm. In this capacity, he advised senior executives and corporations on tax controversy, international tax planning, and mergers and acquisition matters. Additionally, for several years McQueen led the international tax services group for two Fortune 20 companies.

McQueen received his Bachelor of Science in Business and a Master of Science in Taxation degrees from the University of Minnesota. He is a Certified Public Accountant and a member of the America Institute of Certified Public Accountants (AICPA), the Minnesota Society of Certified Public Accountants, and the Connecticut Society of Certified Public Accountants.

About True Partners Consulting LLC

True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.

New East Coast Location of Tax Consulting Firm to Meet Needs of Area Businesses

BOSTON – September 10, 2007 – True Partners Consulting LLC announced today the opening of its Boston location, the seventh office for the rapidly growing tax and business advisory firm. The new Boston office will help public companies and private enterprises navigate the numerous international, federal and state tax laws and increasingly complex financial and legal regulations.

“Our expansion in the Boston area was a natural fit for the wide range of local mid-size public and private companies in the areas of manufacturing, life sciences, high technology, financial services and insurance,” said Joel Gross, managing director, True Partners in Boston. “Our unique offering of tax expertise and consulting will offer them ‘Big Four’ technical capabilities while avoiding potential Sarbanes-Oxley-related conflicts.”

“Another key attribute that differentiates us from the ‘Big Four’ is our expansive network, which gives us access to industry experts with a range of expertise, and allows us to develop solutions that are tailored to our clients,” added Thomas McQueen, managing director in Boston.

True Partners provides an extensive range of compliance and consulting services. These include analysis and counsel pertaining to the tax impact of business issues such as organic or acquisition-driven growth; filing procedures; and business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients' tax exposure and creates responses to audit inquiries, in addition to helping clients address compliance issues. Among other areas, the Boston office will also be able to assist their clients with mergers and acquisitions, transfer pricing and representing clients in tax controversies before federal and state authorities.

“The opening of the Boston location is one more step toward broadening our network of strategically located offices around the country to meet expanding client needs,” said Cary McMillan, chief executive officer and founding member of True Partners. “Our expectation that the great demand in the market for skilled tax consulting services would fuel rapid growth for us has proved true, as True Partners Consulting has become the fastest-growing company in the industry.”

McMillan and 25 other former Andersen partners and staff launched True Partners in February 2006. The founders created a distinctive business model for the firm that eliminates much of the hierarchy traditionally associated with the “Big Four.” True Partners provides an entrepreneurial culture and collegial environment to its expanding employee base of more than 125 tax professionals.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

Thefirmhas offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.

New East Coast Location of Tax Consulting Firm to Meet Needs of Area Businesses

WASHINGTON, D.C. – July 31, 2007 – True Partners Consulting LLC announced today the opening of its Washington, D.C., location, the sixth office for the rapidly growing tax and business advisory firm. The new location will help Fortune 500 companies in the Washington, Baltimore, and Richmond, Va., areas navigate the full range of federal and state tax laws. Additionally, the office will facilitate the firm’s access to Washington-based tax agencies and organizations such as the Department of Treasury, Internal Revenue Service (IRS), Multistate Tax Commission (MTC) and Federation of Tax Administrators (FTA).

“Our new presence in D.C. provides an exciting option for local businesses seeking high quality, sophisticated tax services, without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services,” said Doug Richards, managing director, True Partners in Washington.

James Sweeney, managing director in Washington and company co-founder, added, “Our core service strengths will be further complemented by True Partners’ freedom to collaborate across other offices to tap into various areas of industry expertise and offer clients solutions customized to their needs.”

True Partners provides an extensive range of compliance and consulting services. These include analysis and counsel pertaining to the tax impact of business issues such as organic or acquisition-driven growth; filing procedures; and business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients' tax exposure and creates responses to audit inquiries, in addition to helping clients address compliance issues. Among other areas, the Washington office will specialize in FAS 109, Accounting for Income Taxes; FIN 48, Accounting for Uncertainty in Income Taxes; and Sarbanes-Oxley Section 404 implementation.

“The opening of the Washington, D.C., location is one more step toward achieving our goal of becoming a universally recognized next-generation tax consulting services firm,” said Cary McMillan, chief executive officer and founding member of True Partners. “The increased demand for skilled tax consulting services that we’ve seen since our launch last year has been instrumental in True Partners becoming the fastest-growing tax business in the country.”

McMillan and 25 other former Andersen partners and staff launched True Partners in February 2006. The founders created a distinctive business model for the firm that eliminates much of the hierarchy traditionally associated with the “Big Four.” True Partners provides an entrepreneurial culture and collegial environment to its expanding employee base of more than 125 tax professionals.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.

Senior managers in three of rapidly growing company’s offices are promoted to managing director level

CHICAGO – April 5, 2007 – True Partners Consulting LLC today announced that it has promoted four of its senior managers to managing directors: Lawrence P. Salus, Jr. and John P. Bennecke, in its Chicago headquarters, Tracey G. Sellers, in its Tampa, Fla. office, and Gregg P. Dluginsky, in its New York office.

“We’re delighted to be promoting these four people who exemplify the best of True Partners, and all of whom have made significant contributions to the firm’s early success,” said Cary McMillan, chief executive officer of True Partners. “As the fastest-growing tax practice in the country, we are committed to fostering an environment that recognizes top talent to ensure we offer our customers the very best tax and business consulting services.”

As a federal and international tax consultant for 16 years, Salus, 42, specializes in tax planning, mergers and acquisitions and accounting for income taxes. In addition, he has experience with corporate and partnership tax compliance and representing clients in tax controversies before federal and state authorities.

A tax professional with both public and industry accounting expertise, Bennecke, 40, has more than 15 years of experience specializing in tax compliance and consulting for large and mid-size multinational corporations, partnerships and individuals. Bennecke also provides services in the areas of tax due diligence, research and tax planning, and audit defense.

Sellers, 43, offers more than 18 years of experience serving clients in a variety of industries in the areas of state and local taxation, with an emphasis on transactional taxes. Other areas of expertise include income and franchise taxes, intangible personal property taxes and unclaimed property taxes.

An 18-year veteran of the public accounting industry, Dluginsky, 40, is a tax professional with extensive experience serving various corporations, partnerships and individuals in tax planning, Sarbanes-Oxley Section 404 review, FASB 109, and tax compliance. Additionally, he specializes in tax services related to mergers, acquisitions and divestitures.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

The firm has offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.

Read more

Senior manager Tracey Sellers promoted to managing director

CHICAGO – April 5, 2007 – True Partners Consulting LLC today announced that it has promoted senior manager Tracey Sellers to managing director in its Tampa, Fla. office.

Sellers, 43, offers more than 18 years of experience serving clients in a variety of industries in the areas of state and local taxation, with an emphasis on transactional taxes. Other areas of expertise include income and franchise taxes, intangible personal property taxes and unclaimed property taxes.

“I look forward to playing a greater leadership role in providing tailored solutions to clients through my work in specialized tax services,” said Sellers. “It’s exciting to be part of the team committed to building upon the strong foundation that has been established within the company’s first year.”

In addition, Sellers has experience completing a variety of state tax projects, including reverse sales and use tax audits, audit defense/protests and penalty abatement proceedings, sales tax compliance systems, system studies, and negotiating agreements with government officials.

“We’re delighted to be promoting Tracey, who has helped build the Tampa office from the ground up and made significant contributions to the local market,” said Cary McMillan, chief executive officer of True Partners. “As the fastest-growing tax practice in the country, we are committed to fostering an environment that recognizes top talent to ensure we offer our customers the very best tax and business consulting services.”

Prior to joining True Partners, Sellers worked for 10 years at two Big Five accounting firms, and for eight years at the Florida Department of Revenue. She has served clients in a variety of industries such as healthcare, electric utilities, professional sports teams, retail/distribution, manufacturing, telecommunications, and hospitality.

Sellers received her Bachelor of Science degree in accounting from Florida State University. She is a certified member of the Sales and Use Tax Section of the Institute for Professionals in Taxation and a member of the State Tax Section of the Florida Institute of Certified Public Accountants. Sellers has spoken at numerous industry and national state tax seminars, and has designed and taught several courses in the areas of state and local taxation. She is also a certified Tax Decision Maker (TDM) Specialist for Vertex, Inc.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

Thefirmhas offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.

Senior manager Gregg Dluginsky promoted to managing director

CHICAGO – April 5, 2007 – True Partners Consulting LLC today announced that it has promoted senior manager Gregg Dluginsky to managing director in its New York office.

An 18-year veteran of the public accounting industry, Dluginsky, 40, is a tax professional with extensive experience serving various corporations, partnerships and individuals in tax planning, Sarbanes-Oxley Section 404 review, FASB 109, and tax compliance. Additionally, he specializes in tax services related to mergers, acquisitions and divestitures.

“I’m energized by the opportunity to join a leadership team that shares a deep commitment to providing tailored solutions to clients,” said Dluginsky. “Together we will work to further strengthen the unique culture and solid values proposition that have been quickly established within the company.”

Prior to joining True Partners, Dluginsky held tax manager and senior tax manager positions with Arthur Andersen and KPMG International. Throughout his career, he has represented numerous clients in various industries, such as technology, consumer product, media and entertainment, manufacturing and distribution.

“We’re delighted to be promoting Gregg, who has helped build the New York office from the ground up and made significant contributions to the local market,” said Cary McMillan, chief executive officer of True Partners. “As the fastest-growing tax practice in the country, we are committed to fostering an environment that recognizes top talent to ensure we offer our customers the very best tax and business consulting services.”

Dluginsky received his Bachelor of Business Administration degree in accounting from Hofstra University. He is a licensed Certified Public Accountant in New York and a member of the New York State Society of Certified Public Accountants.

About True Partners Consulting LLC
True Partners Consulting is a world-class tax and business advisory firm that helps large public and private enterprises navigate complex financial regulations without the Sarbanes-Oxley-created conflicts inherent in offering both consulting and audit services. The firm provides a broad range of services, including analysis and counsel concerning the tax impact of business issues such as organic or acquisition-driven growth, filing practices, business restructuring or bankruptcy. The firm also conducts refund reviews, analyzes clients’ tax exposure and prepares responses to audit inquiries, in addition to helping clients address compliance issues.

Thefirmhas offices in Chicago; New York; Los Angeles; San Jose, Calif.; Tampa Bay, Fla.; Washington D.C.; and Boston. Find additional information at www.TPCtax.com.