New York, NY
The Senior Partnership Taxation Specialist is responsible for aspects of firm partnership taxation including analysis of transactions relating to entity taxation, preparation of Partners K-1’s, tax estimates and projections and partnership tax reporting. Essential duties are performed personally, in collaboration with members of the partnership accounting & taxation team and controllership team members. Maintains professionalism and strict confidentiality in all client and firm matters.
Our client offers a hybrid work model, allowing the flexibility to work both on-site and remotely on a regular basis.
- Other duties may be requested and/or assigned. Essential functions are primary job duties that an individual must be able to perform successfully with or without reasonable accommodation. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Maintain and implement procedures and protocols relating to partnership taxation consistent with Partnership Agreements, firm policy and business objectives.
- Key contributor in the preparation of Partnership Federal 1065 & State returns and related Schedule K-1’s. Responsible for the distribution tax documents to all partners.
- Prepare accounting reconciliations and information that are requisite to the preparation of partners’ Schedule K-1’s.
- Key contributor in the preparation of Partnership composite and group State filings.
- Participate in the preparation of individual partner estimated tax withholdings from draws and distributions.
- Preparation of annual reconciliations of partner tax withholdings to determine amounts due to the firm or refunds to partners, where appropriate.
- Preparation of state and local Sales & Use Tax filings and collaborate with Tax Manager on audit inquiries from tax authorities.
- Maintain the fixed asset register and related depreciation, ensuring compliance with firm policies.
- Monitor and review accounting activity that directly impacts tax returns (e.g., meals & entertainment, charitable donations, etc.)
- Analyze tax information relative to each partner and preparation of partnership tax returns. Maintain records and supporting documentation.
- Preparation of information needed for outside providers who prepare tax filings of other firm-managed investment partnerships and LLC’s.
- Investigate and report on tax issues as needed.
- Recommend procedures to improve effectiveness and efficiency of Partnership Taxation systems.
- Remain abreast of current industry standards and tax legislation and preparation of recommendations that align with firm objectives.
- Investigate and resolve inquiries and issues regarding tax matters in a timely and effective manner.
- In collaboration with management, participate in the development of policies and procedures that result in increased staff efficiencies.
- Other ad hoc requests and reporting as requested by management.
- Bachelor’s degree in Accounting, Finance or equivalent (CPA required). Minimum of 3 years progressive taxation experience with a strong background in all areas of partnership taxation are required. Experience at a national (or international) public accounting firm is required.
- Experience with K-1’s and partnership business models in a large legal or professional services financial department is also required. Knowledge of domestic and international accounting and tax guidelines/standards.
- Strong general ledger, and technical analysis skills are required. Knowledge of the accounting processes and reporting requirements used by a large national law firm preferred.
- Proficient experience with tax software is preferred.
- Proficient with MS Excel spreadsheets, including features such as pivot tables, charts and graphs and formulas; Proficiency with MS Word and PowerPoint software.
- Knowledgeable of current accounting and tax trends and practices, recommending and implementing new policies and procedures.
- Outstanding analytical skills requiring an aptitude for detail, precision, and logic with comprehensive knowledge of complex accounting/taxation principles and practices in order to conduct detailed analyses of accounts that effect partner taxation.
- Exceptional organizational skills including record keeping, data collection, and system information. Ability to compile and analyze data and furnish concise, detailed information in report format, written correspondence, e mail, or verbally.
- Exhibit high degree of initiative and critical-thinking skills in exercising independent judgment and making decisions in establishing and managing multiple priorities in a fast-paced, deadline-driven, detail-oriented work environment. Ability to function in stressful situations and think strategically and analytically to troubleshoot and resolve issues quickly.
- Proactive with excellent problem resolution and follow-through skills. Ability to identify and analyze complex accounting/taxation issues and problems and to recommend and implement solutions. Ability to respond effectively to the most sensitive inquiries or complaints.
- Ability to perform complex mathematical calculations and apply mathematical concepts when computing, reconciling balances, verifying numerical data, preparing various accounting/taxation and financial reports.
- Excellent interpersonal, verbal, and written communication skills. Ability to communicate with courtesy and diplomacy, efficiently follow written and verbal instructions, provide information, and maintain effective relationships with a diverse group of attorneys, clients, staff, and outside contacts.
- Ability to understand and support firm goals, services, culture, and strategy in order to represent the firm in a positive, professional manner.
The annualized salary range for this position is $100,000 to $135,000. Actual pay will be adjusted based on experience and other job-related factors permitted by law.
Salary: $100,000 – $135,000
Date Active: 9.21.2023
Exempt/Not Exempt: Exempt