New York, NY
The Partnership Taxation Manager is responsible for all aspects of firm partnership taxation including the analysis of all transactions relating to entity taxation, preparation of Partners K-1’s, as well as tax projections and partnership tax reporting. Essential duties are performed personally, in collaboration with partnership accounting & taxation and controllership team members and/or through the delegation and supervision of subordinates. The Partnership Taxation Manager 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.
- Prepare Partnership Federal 1065 and associated State returns and related Schedule K- 1’s. Responsible for the distribution to partners.
- Responsible for the preparation of Partnership composite and group State filings.
- Responsible for accounting reconciliations and information that are requisite to the preparation of partners’ Schedule K-1’s.
- Prepare individual partner estimated tax withholdings from draws and distributions and annual reconciliations for amount due to the firm or refunds to partners, where appropriate.
- Responsible for state and local Sales & Use Tax filings, including review and response to audit inquiries from tax authorities.
- Maintain the fixed asset register and related depreciation.
- 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 oversees preparation of partnership tax returns. Maintain records and supporting documentation.
- Investigate and report on tax issues as needed.
- Develop methods and procedures to improve effectiveness and efficiency of Partnership Taxation systems in response to partners’ needs.
- Remain abreast of current industry standards and tax legislation and preparation of recommendations that align with firm objectives.
- Coordinate with outside providers tax filings of other firm-managed investment partnerships and LLC’s.
- Advisor to CFO and Director of Partnership Accounting regarding taxation matters.Develop, manage and direct a staff of motivated tax professionals focusing on metrics to enhance productivity and efficiency and provide quality services in a cost-effective manner.
- Investigate and resolve inquiries and issues regarding tax matters in a timely and effective manner.
- Collaborates and directs the duties and responsibilities the partnership taxation staff.
- Mentor and train partnership taxation team members to deliver timely and accurate information.
- In collaboration with management, develop policies and procedures that result in increased staff efficiencies.
- Directly supervises and manages employees and is responsible for their overall direction, coordination, and evaluation. Carries out supervisory responsibilities in accordance with the firm’s policies and applicable laws. Responsibilities include interviewing and training; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems; and making recommendations for hiring, promotion, compensation, and termination.
- Other ad hoc tasks and reporting as requested by management.
- Bachelor’s degree in accounting, finance, or equivalent (CPA required). Minimum of 10 years progressive taxation experience with a strong background in all areas of partnership taxation is required. Experience at a national (or international) public accounting firm is required; management experience at an Am Law 50 law firm is preferred.
- 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 Elite and or Aderant accounting 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.
- Supervisory/managerial skills necessary in order to interact and communicate with subordinates, provide instruction/direction/training, determine work priorities, and coordinate the activities of a work team.
- Ability to understand and support firm goals, services, culture, and strategy in order to represent the firm in a positive, professional manner.
- Ability to occasionally retrieve and distribute files, written documentation, or office supplies weighing up to 10 pounds.
- Ability and availability to travel to other firm locations when required.
The annualized salary range for this position is $140,000 to $190,000. Actual pay will be adjusted based on experience and other job-related factors permitted by law.