© 2013 The Texas Lawbook.
By Brooks Igo
Staff Writer for The Texas Lawbook
(November 25) – Daniel Baucum will join Fort Worth-based Cantey Hanger as a partner on Dec. 3. Baucum, who will be leaving Shackelford, Melton & McKinley, focuses his practice on business transactions and tax planning.
Baucum said it was a great opportunity to join a fine group of lawyers, including his old classmate from SMU, Stephen Tatum, the firm’s managing partner.
“I already have many clients in Dallas and Fort Worth,” he said. “My workload will likely expand as I get to use my experience for Cantey Hanger’s existing clients as well.”
Over the course of his legal career, Baucum says he has enjoyed representing both the government and entrepreneurs. He said he gained invaluable experience working for three years as a special assistant in the IRS Chief Counsel’s Office, where, among other things, he had to brief the chief counsel and commissioner on rulings and regulations projects.
But, Baucum says he shows a little favoritism to working with startup businesses and investors.
“Entrepreneurs are an engine for job growth in this economy,” he said. “Plus, they are fun people, often inventive and colorful.”
The new Cantey Hanger partner says some startups are trending toward setting up as C corps, particularly if they are service businesses or attempting to raise capital from private equity funds. There are indications that corporate tax reform could occur after the 2014 mid-term congressional elections to improve U.S corporations’ ability to compete globally, he added.
“Currently, the U.S. has one of the highest corporate tax rates in the world,” Baucum said. “Because of this, U.S. corporations structure their businesses in ways so that profits are taxed offshore in lower tax jurisdictions where the corporations do business.
“Profits earned often are not repatriated to the United States where it can be invested in jobs or equipment. Sentiment is growing that these laws need to be overhauled to keep U.S. business competitive and not discourage repatriation of profits by U.S. corporations.”
The SMU Dedman School of Law graduate also teaches a class called “Counseling the Small Business Owner” at his alma mater. Baucum says he loves teaching and working with soon-to-be professionals.
“The thing I love about this class is that it is a practical class,” he said. “You have got to know something about a variety of things when you advise a small business owner. It is great experience because you don’t get pigeonholed in your practice.”
Baucum is also involved with the State Bar of Texas Tax Section’s Leadership Academy, developed to provide young attorneys with mentorship, educational and networking opportunities. The Leadership Academy runs for two years—the first class began in 2012. It is currently taking applications for the second class that will begin in early 2014.
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