60-second interview with Shawn Wolf

Shawn Wolf, 15/4/2019

Shawn Wolf TEP is a Florida Board Certified Tax Lawyer with Packman, Neuwahl & Rosenberg in Miami.

What does your firm or organisation do?

Packman, Neuwahl & Rosenberg is a US-based tax boutique firm. We provide all forms of US-based tax advice, with a particular focus on international clients. We also provide immigration and real legal estate services.

What has STEP done for you, individually, or as a business?

STEP is a great resource for making and maintaining professional contacts, and is a source of useful knowledge through its various seminars and other media.

What is the most important thing STEP does, in your opinion?

I would say its role in providing a platform for multi-jurisdictional and multi-professional networking and learning.

You will be speaking at the STEP Caribbean Conference next month. What will you be speaking on and what are the main issues?

I will be providing an overview of certain ‘need to know’ items relating to the recent US tax law changes for trust professionals who deal with offshore trusts that have some contact with US taxation. This is usually through a beneficiary or investment.

What do you most like about your job?

It is challenging to keep up with all of the changes and to coordinate with professionals globally to coordinate US tax laws with the laws of other countries. This challenge, and the happiness of a client when we successfully navigate the challenge, is what I love, and find most worthwhile.

What would you say to a young person thinking of a career in this industry?

It is a career that, with effort and diligence, is gratifying on many levels. Be prepared to put in the time and effort.

Which sectors are likely to see the strongest future growth, do you think?

International tax planning in the US continues to have significant growth. I do not see this changing in the near future.

What about jurisdictions?

Unless and until the US becomes part of Common Reporting Standard (CRS), the US will continue to be a jurisdiction through which many countries will structure businesses.

What trends do you see in the global private wealth sector at the moment?

The main trends are CRS compliance planning and continued tax and wealth preservation planning. From Latin America we continue to see significant emigration to the US and investment into the US.

What do you feel are the main challenges facing your organisation at the moment, and how will you deal with them?

The main issue I see is the risks of dealing with home-country non-compliant clients. We deal with this by working closely with home country counsel.

Shawn Wolf TEP is a Florida Board Certified Tax Lawyer with Packman, Neuwahl & Rosenberg in Miami.