Education

I am a graduate of the University of Wisconsin-Platteville.

I studied at Golden Gate University's Graduate School of Taxation.  I completed all the courses in the field of estates and trusts, including Tax Research, and several others.

I have about 75% of the courses needed for a chemistry major, including all of the math, lots of physics and computer programming, along with my extensive list of chemistry courses.  Most of these courses were taken at Iowa State University of Science and Technology.  These courses have provided me with extensive analytical and mathematical skills.

I married a Wisconsin dairy farmer and ended up switching majors into accounting because I enjoyed keeping the farm's books and doing the cash flows and projections.

I migrated more and more to tax work because it is more intellectually stimulating with its constantly changing laws.  Tax is never boring.  Accounting is more relaxing but it is the foundation of the business consulting I also enjoy.


               Activities

I am a member of the Monterey Estate Planning Study Group.

I am a past member of the Salinas Valley Business Women's Association and a past Treasurer of Arts Habitat.

I was a very active member of The Wisconsin Women for Agriculture for ten years, as well as serving as my chapter's Treasurer and chief "idea" person for several major projects on the state level.

I served on our township's zoning committee trying to bring Wisconsin's Farmland Preservation zoning to our township.

I and my husband were our co-op's "Outstanding Young Farmers."  I was very active in our dairy co-op.

Carol Genrich, CPA


          Experience

I have lived in California about thirteen years all together, in Carmel, in Salinas and, most recently, in Pacific Grove.  I have practiced public accounting in Salinas and on the Monterey Peninsula in Carmel.



I work extensively in taxation, including doing all my own original tax research.

I have a great deal of experience in the field of estates and trusts, including fiduciary accountings prepared as required by the local Probate Court.

I have a solid foundation in bookkeeping and accounting.  I was a Controller in the Midwest. 

I set up a complete new system of internal control in our start-up subsidiary of the second largest contract hog confinement company in the country.  This company was family owned out of North Carolina, until bought out by Smithfield.

I have extensive personal experience in the agricultural industry and was a Wisconsin dairy farmer for 16 years. 

I worked with local co-ops in Iowa setting up LLC's with large regional co-ops such as Land-O-Lakes and Farmland.  There were interesting funding and merger issues involved in these deals.

I was involved near the beginning of the "value added" agricultural explosion into the production of ethanol by co-ops.

I worked with farmers during the mid 1980's in Wisconsin and their lenders, especially Farmer's Home Administration, on debt write-downs and debt restructuring.  I dealt with the tax issues associated with the cancellation of debt income.  There are similar tax issues today with all the home foreclosures.


I hold active Certified Professional Accountant licenses in:

California
Iowa
Wisconsin

                                      Estates and Trusts


In the early 1990's, I developed a strong estates and trusts team at the firm I was with in Salinas.  I found that my scientific background, my analytical skills and my scientific inquiring mind were a big help in this field.  My tax research course was very easy for me since it also required analytical thinking. 

I have worked extensively with older clients in dealing with all of their tax, retirement, estate and trust needs.  I plan around their needs when delivering these services to them.

I gained a great deal of experience in fiduciary income taxation, the taxation of estate and trust income.  This is probably the most difficult kind of taxation there is.  You have to understand the legal documents, the trust and the will, etc, and the state Probate Code, before you can even apply the income tax laws.  This means that each trust return is pretty unique because it is based on its own legal docs. 

Part of the package of services I developed for working in this field was the preparation of fiduciary accounting and court accounting.  These are usually very difficult for most CPA's to do correctly because of the need to understand the legal docs and the Probate Code.  I studied this field extensively and have a great deal of experience in it.  I also asked a lot of questions of my legal friends.  Fiduciary income taxation is "unsexy", unlike the much easier to understand estate and gift taxes.  Fewer CPAs have spent the necessary time to master this "unsexy" field.  Most CPAs are generally not very comfortable dealing with the legal issues involved in this field.  I am.


                                Individual Returns and Planning

I work extensively with individuals in the fields of taxation, retirement planning, estates and trusts, and in helping them with their business dealings.  It is important to treat a client's entire tax picture as a whole unit since decisions in one entity often ultimately affect a client's other entities and their personal returns.  This may include issues associated with pension plans, rental properties or like-kind exchanges, for example.  Another area might be helping clents with their succession planning for their businesses.

                                      Small Business

I have always preferred working with small businesses rather than large publicly owned ones.  It takes a special kind of person to start their own business and keep running it through thick and thin.  It has been a privilege to serve them.  

I help them set up a proper set of books to meet their management and their taxation needs.  If they get an audit notice from the IRS or one of the state taxing authorities, I help them prepare and represent them before these authorities.