Tracy Richardson is a new tax attorney with Donahoo, Ball & McMenamy in Bank of America tower. He joined the four-lawyer firm the day after Labor Day, but didn’t pass The Florida Bar examination until Sept. 15.
IN WHAT AREAS DOES THE FIRM PRACTICE?
“We do mostly estate planning, probate work, wills, trusts and a little bit of corporate tax, but not necessarily corporate tax returns.” Additionally, the firm dabbles in guardianships and federal income, real estate, commercial and bankruptcy law.
WHAT DOES HE HANDLE?
“We look at the tax aspects of business entities. We do some business formation if someone wants to start an LLC [limited liability corporation] or if they want to sell their stock or sell the business, things like that. We also do estate tax returns, gift tax returns and trust tax returns.”
WHAT IS HIS NICHE?
“Taking the basic tax knowledge that a CPA [certified public accountant] would know and going to the next level of advance planning. We take our understanding of the tax law itself and incorporate our ability to draft documents and use trusts, wills and different entities to help clients accomplish their goals.”
CLIENTELE?
“The majority of our work is for individuals who want to do estate planning. They may want us to set up a trust or draw up a will.”
WOULD HE EVER BECOME A TRIAL LAWYER?
“I like the transactional aspect of tax planning. I’m not combative so litigation never appealed to me in that sense. It’s more of a cordial type of relationship here in the tax-planning world.”
BORN
Casper, Wyo.
FLORIDA vs. WYOMING
“There are no mountains here. Wyoming is a rugged, outdoor place. Jacksonville seems part of the Old South. We like that there are still a lot of gentlemen around. Chivalry is present here in some aspects. Not that it’s dead in Wyoming, but you don’t see as many people holding the door open for a female or things like that.”
EDUCATION
Richardson earned his law degree and a bachelor’s degree in business marketing at the University of Wyoming. After law school, he attended the University of Florida to learn the tax specialization of the law.
WHAT BROUGHT HIM TO FLORIDA?
“Mostly the reputation of the [University of] Florida tax program. I became interested in tax law my last year in high school and decided to pursue it. Florida has the second-best program in the country behind NYU.”
WHY FOCUS ON TAX?
“I’ve always been a right-brained person, a numbers guy. I like how tax is structured. Sometimes you can get a definite answer versus other areas of the law that are fairly ambiguous, even though tax law is always changing.”
WHY GO TO LAW SCHOOL?
“I had always contemplated it. Honestly, I was uncertain as to what I wanted to do next with my life, with my career. I knew getting more education was only going to help me in the long run. An MBA didn’t really interest me and I had always been interested in the law. It was just the next logical step.”
WHAT IS MOST REWARDING?
“The ability to provide a service that people are looking for. Everyone likes to save on taxes.”
MOST CHALLENGING SO FAR?
“As a new attorney, my biggest challenge is figuring out, practically, how to do things. I have a good knowledge base as far as tax law. The struggle is melding tax law with other areas of the law and actually getting things done. For instance, just going to the probate court and opening up an estate is not something they really teach you in school. The toughest part of the law is that it is constantly changing. The law will pass you by if you don’t keep up with it.”
RESIDENCE
Richardson lives on the Southside with his wife Cebee and their black Labrador retriever, Chloe. “We liked Gainesville for the weather but we would never have stayed there. Then this opportunity came up. Jacksonville is unique. How the river runs through the city and all the bridges is probably most appealing to me. And it’s really close to the ocean. We’re outdoors people. Plus, the people are wonderful at this firm. The familial atmosphere is what I was looking for.”
WHAT IS HIS PET PEEVE?
“Laziness. I can’t stand people who have excuses for not getting things done.”
GETTING INVOLVED?
He is director of social services at Lanier Manor nursing home. He intends to join the American and Jacksonville Bar associations.
HOBBIES?
When he’s not working, Richardson enjoys running, playing golf, taking his dog to the beach and grilling outside. His favorite book is “The Count of Monte Cristo” and his favorite dish is filet mignon. For comedy, he loves the movie “Caddyshack.”
— by Monica Tsai