Michael Savoy, CPA, CGMA
Michael works with privately held entities in apparel and textile, aerospace, importing, manufacturing and distribution, and real estate.
With over 40 years of experience in business related accounting and tax matters, Michael has assisted numerous clients with litigation support, succession planning and exit strategies, tax planning and compliance, restructuring and refinancing debt. He is an expert on employee stock ownership plans (ESOPs) and has often spoken for the CalCPA Educational Foundation on succession planning and exit strategies with an emphasis on ESOP’s.
With his vast experience in business accounting, he has worked with many Los Angeles based law firms as an expert witness in various litigation matters such as: business interruption, damage and loss of earnings matters, partner and shareholder disputes, and misappropriations of funds by fiduciaries.
Michael is a Chartered Global Management Accountant (CGMA). CGMA’s combine financial expertise and business acumen to achieve sustainable business success and are committed to professional ethics and a code of conduct. The designation is monitored by the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA).
Michael is involved with a number of professional organizations. He is the current Vice President and a twice-appointed Board Member of the California Board of Accountancy (CBA), which regulates more than 100,000 licensees. Michael has also served terms as President and Secretary/Treasurer of the CBA. He is presently Treasurer, on the Executive and Finance Committees and a Board Member of the Los Angeles Area Chamber of Commerce. He is the former Chairman of the Americas Region Board of BKR International; and he is a member of the American Institute of Certified Public Accountants (AICPA), the California Society of Certified Public Accountants (CalCPA) and the Employee Stock Ownership Plan Association.
Michael’s leisure activities include golf and baseball card collecting. He is also a former board member of a privately held, not-for-profit day school in Northridge and has served as a treasurer of the school.
- ESOPS – A Multifaceted Strategy for Your Manufacturing Business, October, 2014
- Is Lending Money to a Relative a Good Idea?, January 2014
- Business Succession Planning at Year End, December 2013
- Pricing Your Product or Service For Maximum Value, April 2013
- Handing Off the Family Business, April 2013
- A Family Limited Partnership for Your Succession Plan, March 2013
- The Role of ESOPs in Retirement Planning, October 2013
- Six Steps for a Smooth Business Sale, July 2013
- Are You a Baby Boomer with a Closely Held Business?, August 2012
- Retiring? Plan out Your Succession Plan, March 2012
- Succession and Estate Planning For a Fruitful Retirement, March 2012
- Employee Stock Ownership Plans for Today’s Businesses, September 2011
B.B.A. in Accounting, Pace University, New York, NY