Paul Hammerschmidt

Paul Hammerschmidt

Tax Director

CPA, PFS

BDO New York - Park Avenue Office

212-885-8321

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Executive Summary

Paul has more than 30 years of public accounting experience. He has specialized in tax matters for healthcare companies and nonprofits since 1986. His clients include hospitals, as well as many types of social service organizations, particularly those that provide housing and social services to low-income individuals and the developmentally disabled.
 
Paul heads the Nonprofit Tax Practice for BDO’s New York Metropolitan area. He provides his clients with a broad range of services, including tax compliance, tax planning and audit representation. Paul specializes in providing tax planning advice for newly formed organizations, as well as developing tax strategies and compliance policies for existing organizations.
 
He represented the New York State Society of Certified Public Accountants in a meeting held at the U.S. Treasury Department to discuss terrorist financing issues in the nonprofit sector. As a result of the meeting, the Treasury established the Guidelines Working Group of Charitable Sector Organizations and Advisors. The group has since issued Principles of International Charity, which provides guidelines on conduct for charitable organizations.
 
Beginning with 2008 reporting, Form 990 was redesigned and now includes 12 pages of the core form and up to 16 schedules depending on an organization’s activities, which Paul and the Exempt Organizations Committee had a hand in shaping.
 
During the redesign process, the IRS provided a draft of Form 990 and invited public comment. Under Paul’s leadership as chair of the New York State Society of Certified Public Accountants Exempt Organizations Committee, the committee drafted a comment letter in response, which the Society sent to the IRS in September 2007. He has been the principal drafter of the Society’s numerous written comments to the IRS regarding proposed legislation and proposed changes to Forms 990 and 990-PF. Paul continued to chair the Exempt Organizations Committee through 2008.
 
Paul has lectured before the Nonprofit Organizations Committee of the New York County Lawyers’ Association, the Suffolk County Bar Association and the New York City Bar Association.

Professional Affiliations

American Institute of Certified Public Accountants
New York State Society of Certified Public Accountants

Education

M.S., Taxation, Pace University
B.S., Accounting, Long Island University--Post 

Community Involvement

Nassau County Citizens Police Academy Alumni Association, Member