A team of DePaul students placed first at the 19th annual Deloitte FanTAXtic Tax Case Competition on Nov. 8, 2019, at the Deloitte Chicago office. Students Natalia Semaniuk, Abdul Feroz, Teodora Ljuboja, Shireen Haiderali, and Sabrina Martinez competed against teams from Indiana University, Michigan State, University of Illinois at Chicago, and University of Illinois – Urbana Champaign, gaining a first-ever win for DePaul in this competition.
Associate Professor Mingjun Zhou was the faculty advisor for this year’s event. “What distinguished our team was their ability to see the big picture in a complex case simulation,” says Zhou. “This helped them understand the most important issues facing the clients so they could come up with the best solution. I am very proud of their achievements.”
The competition included a case study simulation about whether a new technology company should start as a C-Corporation or a Partnership under the new tax code. Teams presented solutions and recommendations to a judging panel of Deloitte Tax Partners. The experience provided students with insights on the challenges facing the profession today, the trends that may impact it tomorrow and the changing business tax marketplace overall.
“The case was challenging, but it was exciting to dive into complex tax laws and gain the experience of working in a group, especially under pressure,” says Natalia Semaniuk. “It gave me a taste of the real world since client needs are never as simple as textbook problems.”
“It was exciting to come together with other DePaul students to compete against other large universities in the Midwest,” adds Teodora Ljuboa. “I gained a deeper understanding of relevant tax issues that I know I can apply in my future career in tax, and I look forward to further developing this knowledge.”
The team will advance to the National Competition at Deloitte University in January to compete for nearly $50,000 in individual scholarships and institutional awards. “They are like the newborn calves who are not afraid of the tiger,” says Zhou, quoting a Chinese proverb. “There’s nothing to fear about the tax code!”