Topics or areas of expertise that Rich can talk about (even in his sleep):
Taxation and planning for high net worth individuals
Mergers & acquisitions
Entity structuring/restructuring and entity capitalization planning
Family office planning
How we know he knows what he's doing:
Rich received his bachelor's in accounting from Mercyhurst College (now Mercyhurst University). He graduated Summa Cum Laude and was #1 in the accounting department
He has over 30 years of experience.
He started his career with Arthur Anderson before forming his own firm, Dyer Roche, which merged with Rea in 2020.
Furthering his professional development, Rich is involved with:
American Institute of CPAs
Ohio Society of CPAs
Firestone High Aquatic Association (treasurer)
Wooster Swim Club Boosters (former treasurer)
Junior Achievement (former board member)
United Way (former campaign loan executive - Cleveland)
How he's helped clients meet their business needs:
Rich helped restructure a $10 million closely held business that was losing about $500 thousand per year into a $4 million business making $400 thousand a year. Sometimes it's better to just be smaller.
He resolved a client's problem dealing with the sale of real estate held within an S-corporation where the original S-Corp owner had died 10 years prior to the real estate sale. S-Corp real estate was not stepped up at the death of the original S shareholder to FMV, only the S-Corp shares were stepped up to FMV. Rich developed a strategy to liquidate S-Corporation in the same year as the real estate sale to generate a loss on liquidation of S-Corporation shares that were used to offset the gain on sale of real estate saving the clients over $350 thousand in tax.
When he's not in the office, you can find him:
Spending time with his wife and sometimes his kids as they are older and are in school
Running, hiking and golfing
Watching sporting events with and without the participation of his children
Attending rock concerts and festivals
Traveling and bowling
Inside The Mind Of...
What does “A Brighter Way” mean to you? Working together with my clients to generate business solutions to their problems, many times from "outside the box". Being creative!
Why do you choose to work at Rea? The firm's culture and approach to client services.
What’s your favorite aspect of your job? Solving client problems and coming up with tax-saving strategies.
What line of The Rea Way describes you the best? Value your clients. Challenge them to reach their potential
Just For Fun:
What makes you get out of bed every day? My morning run!
What is your most prized possession? My family
What is one trait you possess that you inherited from your mother or father? My OCD