Walter McGrail
Senior Manager
wmm@cendsel.com
248.540.5760
Walt McGrail is a Senior Manager with Cendrowski Selecky PC (CS). Walt serves as one of the firm’s senior tax and legal technicians, and has provided consulting services to a variety of partnerships, corporations, estates, and high net worth individuals over his 25 year career.
Walt has consulted with numerous publicly-traded, private, and family-owned businesses to develop tax-efficient succession plans, ensure 409A compliance for deferred compensation plans, and maximize their after-tax earnings. He has assisted tax-exempt entities in mitigating unrelated business income tax issues, and provided tax consulting and due diligence services to both private equity and venture capital firms. Walt also assists the CS team with forensic accounting activities.
Walt has years of experience in real estate industry and has a comprehensive understanding of the issues faced by today’s real estate developers and managers. His engagements have included tax structuring for REITs, UPREITs, tax-exempt entities and other investors; net operating income (NOI) audits; and due diligence services. He has reviewed partnership and LLC operating agreements to assist counsel in making sure the agreements’ language concurs with the economic expectations of the entities’ members. Together with other members of the CS team, Walt was instrumental in developing the UPREIT structure that is now common in the real estate industry. He also leverages his tax and real estate expertise to provide cost segregation studies for the nation’s largest developers.
Walt is a Certified Public Accountant (CPA) in Michigan and is a member of the State Bar of Michigan and the Michigan Association of Certified Public Accountants (MACPA). He has authored articles appearing in The Value Examiner and other publications. Additionally, Walt has lectured on the intricacies of partnerships and partnership taxation.
Walt received his bachelor’s degree from the University of Michigan – Dearborn and his law degree from the University of Detroit (now University of Detroit-Mercy).
07.21.11 Harry Cendrowski and Walter McGrail author "Two Options for Tax Whistleblowers". The article compares whistleblower provisions of the Dodd-Frank Act with those contained in the Internal Revenue Code and demonstrates that, in most instances, tax whistleblowers will prefer to report issues to the Internal Revenues Service rather than the Securities and Exchange Commission.
12.01.10 John Alfonsi and Walter McGrail author "Taxation of Pass-through Entities". The article discusses income tax rules that apply to partnerships, multiple-member LLCs, S-corporations and, to some extent, REITs and RICs.
10.27.10 Harry Cendrowski and Adam Wadecki author "How Proper Incentives and Governance Create Long-Term Value." The article discusses the primary components of executive compensation plans, and the manner in which these components vary by the stage and maturity of an organization."
06.4.10 Harry Cendrowski and Jim Martin author "Proper Handling of Internal Investigations: Lessons from infoGroup" for the National Association of Corporate Directors (NACD). The article provides guidance for board members and audit committees regarding the conduct of internal investigations. It also provides detailed lessons learned from a recent SEC investigation of an audit committee chairman for his conduct in an internal investigation.
01.15.10 John Alfonsi and Walter McGrail author, "Partnerships and S Corporations: Not All Flow-Through Entities are Created Equal," in the January/February 2010 issue of The Value Examiner.