Joseph D. Ament

Joseph D. Ament

Principal
P:
312.521.2401
F:
312.521.2301

Overview

Joe is an accomplished tax and business lawyer, as well as a certified public accountant. He has extensive experience in financial, estate and income tax planning; business mergers and acquisitions; and entity structures, including corporations, partnerships and limited liability companies. Joe became a certified public accountant in 1959. Before beginning his career in law, he spent eight years as a staff CPA and tax manager with David Himmelblau & Company.

Since 1966, Joe has taught taxation, estate planning, accounting for executives, and business ethics courses at Roosevelt University, where he chaired the Department of Accounting and Taxation for 19 years and has been the Samuel W. Specthrie Distinguished Professor of Accounting and Taxation. Before his engagement at Roosevelt, he taught accounting and taxation courses at Loyola University Chicago.

Joe serves or has served on the boards of many privately held corporations, including service as a corporate officer. Some of these entities became public corporations. He also currently serves as an officer and/or fiduciary (trustee) for profit-sharing and pension plans and trusts for private and public charities.

In September 2015, Joe was appointed to Bank Leumi USA's first advisory council, which will help shape and drive the bank's go-to-market strategy in the Chicago area.

He chaired a Special Appeal Hearing Panel of the Chicago Mercantile Exchange (CME) and has served on several of the CME's committees, including the Finance, Budget and Planning Committee; the Leasing Committee; the Clearinghouse Finance Committee; and the Oversight Committee. He currently serves on the Probable Cause and Business Conduct Committees for the CME/CBOT and is a member of the CME's International Monetary, Index and Options, GEM and CBOT markets. Joe has also been an arbitrator for the National Futures Association and an NFA-approved Commodities Trading Adviser and Commodities Pool Operator, and has served on the U.S. Income Taxation Advisory Board for Bloomberg BNA.

Joe is a regular speaker on taxation and business ethics topics at seminars and conferences sponsored by universities, banks, professional groups, bar associations, and national, regional, and local CPA groups throughout the United States. Select papers presented during speaking engagements include the following (copies available on request):

  • "The Challenge of Fair Value Reporting to the Financial Community," presented at the 17th Annual Conference of the American Society of Business and Behavioral Sciences (February 2010)
  • "Passion for Teaching—Just How Long Can This Gig Last?" presented at the 2010 MBAA International Conference (March 2010)
  • "Convergence of International Financial Reporting Standards and U.S. Generally Accepted Accounting Principles (GAAP): Last-In, First-Out (LIFO) Accounting and Tax Implications," presented at the 18th Annual Conference of the American Society of Business and Behavioral Sciences (February 2011)
  • Conflicts of Interests – A "Gray Area" Challenge and Dilemma" presented at the 19th Annual Conference of the American Society of Business and Behavioral Sciences (February 2012)
  • "Will Repatriation of Foreign Earnings Help Our Economy and Our Budget?" presented at the 2012 MBAA International Conference (March 2012)
  • "Hedge Funds: Taxation and Other Related Current Financial Issues (Carried Interest)," presented at the 20th Annual Conference of the American Society of Business and Behavioral Sciences (February 2013)
  • “The Impact of Restoration to US Corporations of Foreign Earnings Through Repatriation/Inversions as an Aid to US Economy and Budget,” presented at the 22nd Annual Conference of the American Society of Business and Behavioral Sciences (February 2015)

Joe is the co-author of an article on partnership income taxation published in BNA's Tax Management Portfolio 282-2d, and has written numerous articles on tax topics published in such professional journals as Illinois CPA and Taxation for Accountants. He is also the author of manuscripts developed for the insurance and reinsurance industries and served as editor of the Slovak Republic Taxation Manuscript.

Credentials

Education

The John Marshall Law School
J.D., 1962
Roosevelt University
M.B.A., 1959
University of Illinois at Urbana-Champaign
B.S., 1958
Certified Public Accountant

Bar Admissions

Illinois

Court Admissions

U.S. District Court for the Northern District of Illinois
U.S. Tax Court

Professional Organizations

  • American Bar Association, former Committee Member (General Income Taxation Problems, Teaching Taxation and Federal Taxation of Real Estate Transactions) and former editor for numerous publications of the ABA Tax Section
  • Illinois State Bar Association
  • American Association of Attorneys-CPAs, Director and former Illinois Education Vice President
  • Illinois Association of Attorneys-CPAs
  • National Association of Securities and Commercial Attorneys, Board of Directors
  • American Institute of Certified Public Accountants
  • American Accounting Association
  • American Taxation Association
  • Decalogue Society of Lawyers
  • Illinois Society of Certified Public Accountants, former member of the Insurance Conference Task Force and the 150 Hour Implementation, Educator/CPA Issues and Ethics Committees and former chair of the Continuing Education Ethics Subcommittee and the Grants/Research Committee
  • Chicago Mercantile Exchange, Committee Member
  • National Futures Association, Committee Member

Community

Joe is a longtime leader in civic and charitable causes. He is currently Chair of the Hillels of Illinois Endowment Foundation, has been a member of the National Hillel Lay Leadership Board and Chair of the Hillels of Illinois Governing Commission (1993-96). He served for three years as Vice Chair and for nine years as a Director of the Jewish United Fund/Jewish Federation of Metropolitan Chicago, and is a current member of that organization's Finance, Legacies and Endowments, and Audit Committees, as well as its Agency Endowment Program, Jewish Day School Guaranty Trust Fund and Arie Crown Hebrew Day School Endowment Foundation.

He has also been a Director of the Lawson House YMCA Board.

Joe is a Life Trustee/Director and former President of the Ida Crown Jewish Academy. He is a member of Central Avenue Synagogue in Highland Park and Congregation Yehuda Moshe in Lincolnwood. Joe sits on The John Marshall Law School's Braun Bequest Fund Annual Lecture Series Committee and is a member of the Braun Bequest Fund Committees of Camp Ramah in Wisconsin and CJE Senior Life. He is also Secretary and General Counsel for the Herrendorf Family Foundation, Inc.

Insights & Events

Accolades

  • Illinois Super Lawyers, 2005-2011
  • Leading Lawyers Network, Tax Law: Business and Tax Law: Individual, 2003-2018
  • Martindale-Hubbell Law Directory, AV Preeminent® for more than 25 consecutive years
  • Arthur L. Crandall Award, given biannually to the outstanding faculty member in Roosevelt University's Walter E. Heller College of Business Administration
  • Lifetime Achievement Award, Roosevelt University, 2012
  • Teaching Excellence Award, Accreditation Council for Business Schools and Programs, 2009
  • Class of 1963 Distinguished Counselors, Illinois State Bar Association (conferred annually upon ISBA members who are completing their 50th year of practice), 2013
     
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