Paul Wallace, CPA, CFP®, provides integrated income tax, estate tax, investment management, charitable giving and personal financial planning services to high net worth individuals, families and their closely held businesses.
Clients know Paul as an advisor who anticipates their needs and concerns, and offers solutions that save money and add security to their short and long-term financial situation. For example, Paul advises a high net worth family who was about to take its company public. Paul developed a strategy for contributing family-owned stock to a grantor retained annuity trust (GRAT) before the company went public, and before family members knew they should take any action with the stock. This strategy transferred wealth to the family’s next generation and without the cost of a transfer tax.
Paul serves clients in the real estate, construction and distribution industries, as well as nonprofit organizations. He helps nonprofit organizations and private foundations with financial statement and tax return compliance, budgeting, planned giving, tax-exempt financing matters, minimizing unrelated business income tax (UBIT) and management consulting.
In addition to helping his clients save money, Paul has earned a reputation for looking out for nonprofits and helping fellow professionals. For many years, Paul was an associate professor at Anne Arundel Community College, where he instructed professionals preparing for the CFP® exam.
In addition to being a CPA, he is a CERTIFIED FINANCIAL PLANNER™ professional. Paul has provided expert witness testimony with respect to both income taxation and financial planning matters.
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Education
- Master’s degree in taxation, University of Baltimore (1988)
- Bachelor of arts degree in psychology, The Johns Hopkins University (1977)
Affiliations
- American Institute of CPAs
- Baltimore Estate Planning Council
- BKR International
- Downtown Partnership of Baltimore
- Financial Planning Association
- Maryland Association of CPAs
- Maryland Nonprofits
More Fun Facts
- After graduating from college, Paul’s first job wasn’t in accounting; he was a full-time musician in a traveling band and a salesman at a music store.
- In his spare time, Paul likes to play golf. Some people would say he has a high handicap; he prefers to think of it as getting his money’s worth on the golf course.
