Gabelli School team places 2nd in tax competition
Success Stories | Nov 19, 2015 | Gabelli School of Business
Five Fordham business students have been recognized for their excellence in the annual Deloitte FanTAXtic Regional Competition this fall.
Chuwei (Whitney) Wen, MSA ’15; Marisa Diaz, BS ’16; Anthony Humphreys, BS ’16; Sahana Holla, BS ’18; and Christopher Lengua, BS ’18, received an honorable mention by placing second in the regional competition.
Traditionally, Fordham students have done well at the competition, and the 2015 team did not disappoint, with each member receiving $200 and Fordham receiving $2,000 as part of their honorable mention.
Participants tackle a tax case study that reflects a real-life scenario. Students must work through simulations and role-play with Deloitte professionals.
This year’s case was particularly tough, said Associate Professor Stan Veliotis, who, along with Clinical Associate Professor Paul Kushel, advised the two Fordham teams that took part in the competition.
It centered around giving advice on whether to structure the acquisition of a company as a stock purchase or an asset purchase, including certain related tax elections. In another part of the competition, students had to give advice on how to depreciate various assets such as computer infrastructure.
“The students said, and I agree, the case study was one of the most difficult in many, many years,” Veliotis said.
“Both teams did a wonderful job,” he added.