Tax Advisor

MAI WEALTH MANAGEMENT, INC.•Independence, OH

About The Position

The Tax Advisor in the Tax Department is responsible for the preparation and review of individual, trust, S Corporation, C Corporation, Partnership, LLC, non-profit, gift, Canadian, FBAR, general excise/use, and personal property tax returns, as well as, annual reports for a wide variety of high-net-worth clients, including professional athletes. The Tax Advisor also supervises the preparation of financial statements and reconciles the activity of our clients’ business entities.

Requirements

Bachelor’s degree in Accounting or related field
Certified Public Accountant or CPA candidate
A minimum of five years’ experience in tax, accounting or related field
In-depth knowledge of current tax law, especially as it pertains to high-net-worth individuals and professional athletes.
General understanding of Generally Accepted Accounting Principles (GAAP).
Ability to convert cash-basis financial statements to accrual-basis.
Ability to thrive in a fast-paced and dynamic team-based, collaborative environment.
Experience working with external auditors on independent audits of financial statements.
Excellent verbal and written communication skills and ability to communicate effectively with high-profile individuals and their respective advisors.
Strong organizational and interpersonal skills with a demonstrated commitment to teamwork and partnerships; works effectively as both a team member and an individual contributor.
Proficient in Microsoft Office (Outlook, Word, Excel, Adobe, PowerPoint) and specialty tax and accounting software, such as GoSystem Tax RS, SurePrep, Bloomberg Tax, GoFileRoom/FirmFlow, BNA Planner and CCH Axcess.
Excellent time management, project management, and analytical skills with a focus on managing multiple projects, meeting deadlines and immediate needs, and resolving complex problems.
Demonstrated critical-thinking, problem solving, and tax research skills.
Maintains flexibility to appropriately prioritize and execute to meet client and firm needs and support peak volumes and aggressive deadlines.
Maintains absolute confidentiality of all client information and safeguards client and firm data; maintains high ethical standard in all practices.
Professional and positive demeanor, superb work ethic, high level of personal ethics and integrity.

Nice To Haves

MBA or Master’s degree in Accounting, Taxation, or related field preferred

Responsibilities

Prepares and reviews individual, S Corporation, C Corporation, Partnership, LLC, non-profit, gift, trust, Canadian, FBAR, general excise/use, and personal property tax returns and annual reports for high-net-worth clients, especially professional athletes.
Works with various departments at MAI, including Sports & Entertainment and Wealth Management for general tax planning, including quarterly estimates and year-end projections.
Research athletes’ yearly schedules and prepares duty day calculations for the various states and cities in which they performed services; amends tax returns for new clients to take advantage of duty-day laws in various states.
Allocates S Corporation prize money and merchandising income in accordance with the various state laws.
Responds to various client notices received from the federal, state, and local governments.
Works with federal, state, and local governments to ensure that clients receive their tax refunds in a timely manner.
Plans and executes IRS audits as Power of Attorney, including preparing supporting documentation, tying out line items of the tax return, and working with IRS auditors to reach a mutual agreement on the clients’ behalf.
Contact for GoSystem RS software support regarding issues with tax software.
Updates GFR/Firmflow software on a regular basis to ensure that all Tax team members are informed of tax return statuses.
Serves as bookkeeper/controller for various client entities, prepares journal entries for all financial activity, reviews general ledgers for accuracy, and prepares and reconciles financial statements.
Organizes, plans, and leads independent audits of non-profit foundations; works with external auditors as the audits progress; prepares all supporting documentation; restates financials from cash-basis to accrual-basis; and ensures financial statements are in accordance with GAAP.
Prepares financial statements and tax returns for partnerships with various LLC’s and entities under its ownership, including tracking basis and yearly activity of each entity, working with external advisors to ensure all activity has been accounted for and to determine if any new activities were implemented, and keeping each entity current with its respective state filing requirements.
Serves as client’s trusted advisor by demonstrating knowledge of industry trends, identifying client issues and conflicts; proactively communicating solution options to client and team.
Demonstrates proficient technical skills for handling all client responsibilities, including knowledge of trends, industries, alternatives, etc., research complex tax issues.
Participates in practice development activities that lead to new business and opportunities for cross-serves.
Keeps current with continuing professional education requirements as stipulated by state CPA society regulations.
Sets up and terminates client entities with the IRS and the states’ Secretary of State and Department of Taxation offices.