Mike C. Powell, CPA, MST, CMP

Current Role

Mike provides tax consulting studies, focused on identifying opportunities to help clients reduce their tax burden. He is a Firm-wide authority for research and development (R&D) tax credit studies, domestic production activity deductions, accounting methods and periods, exposure items, and inventory analysis for LIFO and §263A. Mike leads Rehmann’s manufacturing group, serving hundreds of clients in the industry.

Service Areas

• Tax consulting and compliance
• R&D tax credits
• Tax minimization strategies
• Accounting methods and periods
• Domestic production activities deduction (DPAD)
• Inventory (LIFO and §263A)

Experience

Mike started his career in 1996 and has experience in both public and private sectors. Before joining Rehmann in 2005, he held roles at both national and local public accounting firms.

Mike’s experience includes working at a large international and multi-state manufacturing company, ensuring the company was compliant with all its federal, state and local income taxes. In addition, he performed numerous studies and projects for the company, including cost reclassification, research and development tax credit studies, changes in methods of accounting, FAS 109 provisions for an SEC registrant, and researching international tax issues.

While at Rehmann, Mike has helped numerous clients successfully execute tax minimization strategies such as electing advantageous accounting methods to defer taxes, research and development tax credits, DPAD, and inventory methods.

A Closer Look

• Due to his proficiency in this particular area, Mike and his team assisted a plastic manufacturer in increasing its R&D tax credit yearly by more than $700,000.
• “Tax physicals” are one of Mike’s strengths, where he reviews a company’s previous tax returns and accounting methods to evaluate opportunities for future savings.
• With four years of hands-on experience in the manufacturing industry and as a Certified Manufacturing Professional (CMP), Mike has a thorough understanding of the challenges facing the industry.