Mark Baumann's practice is primarily tax-related, including employee benefits, executive compensation (current and deferred), equity-based incentive plans, tax planning and tax disputes, partnerships, joint ventures, limited liability companies, other closely held businesses, professional firms, and tax-exempt organizations. He has extensive experience advising publicly held companies how to comply with Section 409A when designing executive deferred compensation and incentive plans. Mark has submitted to the IRS voluntary correction applications for retirement plans that have had operational or document errors.
Mark also advises our mergers & acquisitions team on the tax and employee benefits issues that arise in business sales, corporate mergers, and spin-offs of subsidiaries.
Mark has designed many retirement plans that maximize tax-deferred benefits for executives and business owners, and he works closely with actuarial consultants to attain those results. Mark has also drafted flexible benefit plan documents and related employee summaries that combine all of an employer's health and welfare and "cafeteria" programs into a single plan for reporting and disclosure under ERISA. He has extensive experience in drafting documents for complex financial transactions such as joint ventures, as well as "plain language" documents such as benefit plan summaries. Mark's ability to work with financial concepts is based partly on his business experience. Before joining Maslon, he was Manager of Tax, Risk and Insurance at Fingerhut Corporation and worked as an actuarial trainee computing rates for a large life insurance company.