Talk about a creative way that you helped ease the tax burden for a business during your career. How did you help put this process into place?
Modern corporate tax law allows organizations a lot of personal freedom to change the ways they do business to help lessen their taxes on a year to year basis. Your role with Freshfields Bruckhaus Deringer LLP could potentially entail you working with clients to find creative solutions to their tax issues and to get a better sense of how you would do this, your interviewer is looking to judge off of a prior example from your career. If you are new to the field or young in your career, it is okay to speak from the hypothetical 'what you would do' scenario.
"As you can see from my time working in private practice, a majority of my clients were running and operating small businesses and this client base was very vulnerable to heavy tax burdens. But fortunately, they were also open to the most lenient ways to be creative with their finances and process to help ease their tax burden. With a client a couple of years ago, I helped evaluate their situation of hiring seasonal employees and employees full-time that were laid off at certain times of the year. In the evaluation, it proved to be extremely more cost-effective to hire most employees as contractors to help lessen costs like Social Security and Medicare taxes while also making sense from their business perspective as well. I helped this client set up all necessary paperwork and processes for hiring contracted help moving forward in the future."
