If you have spent some time in the motorsports arena around Charlotte, sooner or later you’ll hear of Greer & Walker. This multi-level accounting firm had its first motorsports client almost by accident shortly after it was formed in 1984. Now, about 10 percent of its business is derived from the motorsports industry.
Jim Reichard, Tony Smith and Jason Lewis were kind enough to sit down and explain what Greer & Walker does and for whom. Of the 100 or so employees, around 70 are certified public accountants.
Of the NASCAR-related motorsports clients, some are teams, some are suppliers, some are drivers, and some are foundations. The firm also has some non-NASCAR teams as clients. The firm also has areas of expertise in construction, financial services, manufacturing and distribution, not-for-profit and real estate.
Greer & Walker also offers corporate finance (mergers and acquisitions) guidance, litigation support, business outsourcing, and auditing. Greer & Walker does something not too many accounting firms do — provide wealth management services for its clients who meet the threshold of a $1 million investment.
According to Jim Reichard, the hot topic these days is estate taxes (will the law change for 2013 or not?) and the potential of the Affordable Health Care Act to impact tax consequences for its clients. Whether to accelerate deductions this year or wait to see what Congress decides is another area in which Greer & Walker is providing advice. Same with capital gains tax rates. As Jim says, sometimes they wish they had all the answers. But with experience comes knowledge, and you can bet the folks at Greer & Walker are exploring all the options for their clients.
To learn more about Greer & Walker, visit here .
Corinne Economaki