Mr. Padding leverages four decades of cost segregation services experience in commercial real estate and construction for federal and state tax reporting.

Chicago, August 22, 2023 -- Alvarez & Marsal Tax LLC (A&M Tax), an affiliate of leading global professional services firm Alvarez & Marsal (A&M), has announced the appointment of Chicago-based Carl Padding as a Cost Segregation Services Senior Advisor within its Research Credits & Incentives Group. Mr. Padding’s in-depth real estate market experience, combined with his engineering background and tax knowledge, energizes A&M’s Cost Segregation capabilities and reflects the firm’s commitment to bolstering its offerings. 

Throughout his career Mr. Padding has specialized in oversight and tax research/analysis for a wide variety of cost segregation projects, including IRS examinations with favorable results regarding real estate cost segregation and fixed assets matters. Mr. Padding has performed cost segregation analyses and capital asset valuations for a range of applications within domestic and international markets. This has enabled him to work closely with companies in a variety of sectors, including the real estate, hospitality, construction, banking, manufacturing, pharmaceuticals, and food & beverage industries. One of Mr. Padding’s prior engagements included tracking the purchase and price allocations of 40 department store sites and applying complex depreciation benefits. 

Ernie Perez, Managing Director and Global Practice Leader of A&M Tax, commented on strengthening the practice’s Cost Segregation Services, “Carl’s engineering background, and in-depth knowledge of  tax research & analysis, helps us provide a comprehensive, 360-degree view for clients. As clients seek pathways for navigating commercial real estate initiatives and construction-related projects, Carl’s emphasis on optimizing financial outcomes will assist them in achieving heightened value. His alignment with A&M's operational methodology and outcome-driven attitude further reinforces this synergy.

Prior to joining A&M, Mr. Padding spent a dozen years with Armanino LLP, most recently in the Chicago office. As Director of Real Estate Consulting, Mr. Padding was a major contributor in the development and growth of that firm’s cost segregation practice area as well as various energy incentives services. Earlier in his career he worked for more than a decade at Arthur Andersen where he helped establish the cost segregation model and a capital equipment valuation process.

Kathleen King, a Managing Director and US Research & Development Tax Practice Leader said, “Carl’s hire demonstrates our continued commitment to providing state-of-the-art cost segregation services to a broad range of clients. These analyses are a powerful planning tool for taxpayers looking to reduce their tax liability and improve their bottom line. Carl’s expertise furthers our ability to do just that.” 

Mr. Padding earned a Bachelor of Science degree in Civil Engineering from The University of Michigan. He is an Associate Member (#A020-13) of the American Society of Cost Segregation Professionals and a member of the National Association of Construction Auditors with designations of Construction Control Professional (“CCP”) and Certified Construction Auditor (“CCA”). 

About Alvarez & Marsal

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About Alvarez & Marsal Tax

Alvarez & Marsal Tax, part of Alvarez & Marsal (A&M), a leading global professional services firm, is an independent tax group made up of experienced tax professionals dedicated to providing customized tax advice to clients and investors across a broad range of industries. Its professionals extend A&M's commitment to offering clients a choice of advisors who are free from audit-based conflicts of interest, and bring an unyielding commitment to delivering responsive client service. A&M Tax has offices in major metropolitan markets throughout the U.S., Latin America, and EMEA.

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