Director of Tax

CIRE Equity; United States; Remote; USD 80,000 - 140,000; Full time

Job summary

An innovative firm dedicated to real estate investment is seeking a Director of Tax to lead tax planning and compliance efforts. This role requires a strategic thinker with a deep understanding of real estate tax laws and the ability to develop and implement effective tax strategies. You will work closely with senior management to align tax initiatives with business objectives, ensuring compliance and maximizing tax efficiency. Join a dynamic team that values hard work, creativity, and excellence, and contribute to the company's growth and success in the real estate sector.

Benefits

Flexible Work Hours

Remote Work

Professional Development Opportunities

Health Insurance

Retirement Plan

Performance Bonuses

Qualifications

• 8+ years of experience in real estate tax compliance and regulations.
• Proven expertise in UPREIT taxation and partnership taxation.
• Ability to communicate complex tax issues effectively.

Responsibilities

• Develop and execute tax strategies to maximize tax efficiency.
• Oversee tax-related activities and ensure compliance with regulations.
• Collaborate with senior management on tax implications of investments.

Skills

Tax Compliance

Tax Strategy Development

Real Estate Tax Laws

Analytical Skills

Communication Skills

Project Management

Education

Bachelor's Degree in Accounting

Master's Degree in Taxation

CPA, CFA, or JD in Tax

Tools

CCH Access Tax Software

MRI Financial Reporting Systems

Job description

CIRE Equity is an entrepreneurial, growth-oriented company focused on the creation and preservation of wealth through targeted investments in commercial real estate in the Western United States.

We are passionate about real estate, dedicated to hard work, and strive for excellence in everything that we do. We value our employees and aim to create a fun, merit-based environment that encourages hard work, creative thinking, and high-quality performance. We foster persistent improvement and we are seeking like-minded individuals who share our attention to detail and passion for excellence to join our growing team.

What Makes CIRE Special

At CIRE Equity, we want our employees to be successful, and we believe that a large part of success is aligned around our unique core values that form our cultural DNA.

PERSISTENT IMPROVEMENT

Relentless Cultivation of Our Potential

QUALITY PERFORMANCE

Executing Beyond Expectations

CREATE OPPORTUNITY

Innovative Thinking to Produce Value

AUTHENTIC COMMUNITY

Building Relationships Through Sincere Interactions

Beyond technical competencies, we hire team members with emotional intelligence and awareness because we believe that creating a safe space for open sharing and direct feedback leads to higher-functioning teams and resilience in overcoming challenges. We work hard and play harder, celebrating company success as a team.

Purpose of Position

Reporting to the Co-Founder & Principal, the Director of Tax will oversee all aspects of tax planning and compliance. Key responsibilities include managing tax preparers to ensure accuracy and the effective use of tax losses. This role will develop and implement tax strategies across multiple areas, including real estate, fund and investor taxation, as well as GP, corporate, and principal tax strategies for the company.

Requirements

Job Duties/Responsibilities

• Proactively develop and execute tax strategies and initiatives to maximize tax losses within the company’s investment vehicles and to align with the company’s overall business objectives and fund structure.
• Manage taxable income forecasting for the company’s investment vehicles.
• Provide leadership and guidance to the tax team, overseeing all tax-related activities within the organization.
• Provide strategic tax advice and support in evaluating investment opportunities, financial planning, and portfolio management decisions.
• Prepare and present tax-related reports, recommendations, and updates to senior management.
• Collaborate with senior management, fund managers, and external advisors to structure real estate transactions in a tax-efficient manner. This includes oversight of cost segregation studies and depreciation schedules.
• Advise on tax implications and risks associated with fund structuring, acquisitions, dispositions, and other real estate transactions.
• Manage and ensure compliance with applicable tax laws, regulations, and reporting requirements for the company and its affiliated funds.
• Serve as the subject matter expert for 1031 exchanges, 721 contributions, and other deferred tax strategies.
• Oversee and manage the preparation and filing of Form 8824, Like-Kind Exchanges, and other tax returns related to 1031 exchanges.
• Ensure compliance with all reporting and documentation requirements related to 1031 exchanges, including the identification and exchange period rules, the use of qualified intermediaries, the allocation of personal property and real property, and the reporting of gain or loss on the disposition of the replacement property.
• Monitor changes in 1031 exchange rules and regulations and provide guidance to management on the impact on the company's tax liability and planning opportunities.
• Conduct thorough research and analysis of complex tax issues and developments that may impact the organization's operations and investments.
• Oversee and manage all aspects of REIT compliance, including the preparation and filing of Form 1120-REIT and other tax returns required for REIT qualification.
• Ensuring compliance with REIT-specific tax requirements, including maintaining compliance with REIT income and asset tests.
• Prepare quarterly and annual E&P tax calculations.
• Work closely with the finance and accounting teams to ensure timely and accurate reporting of REIT tax items in the financial statements, including the calculation of taxable income, dividends paid, and undistributed taxable income.
• Oversee the preparation and review of tax returns, including partnership tax returns (Form 1065) and investor tax reporting (Schedule K-1 or 1099), to ensure timely and accurate completion.
• Coordinate and manage tax audits and examinations, working closely with external auditors and tax authorities to resolve issues and minimize potential liabilities.
• Monitor changes in tax legislation and regulations, proactively assessing their impact on the company's tax positions and advising on appropriate actions.
• Collaborate with other departments, such as finance, legal, and operations, to ensure effective integration of tax considerations into business processes and decision-making.
• Foster relationships with external tax advisors, ensuring access to specialized expertise and staying up to date on industry best practices.
• Coordinating with external tax advisors for the preparation of tax returns, K-1s, 1099s, cost segregation, and other tax matters.
• Stay informed about industry trends, emerging tax issues, and opportunities for tax optimization within the real estate sector.

This is not intended to be an exhaustive list and additional duties may be assigned.

Reporting Structure

• Position reports directly to: Co-Founder & Principal

Vital Goals/Performance Measurements

• Timely submission of corporate, property, and fund tax returns
• Accurate tax returns
• Maximized tax efficiency to ensure no taxes on dividends
• 100% compliance with audit, and REIT regulations

Position Requirements

• Ability to communicate with and present to executives in a concise and confident manner
• Solid communication skills, both written and verbal, with the ability to effectively communicate complex tax issues to non-tax professionals
• Ability to work independently and manage multiple projects and deadlines simultaneously
• Solid organizational and project management skills
• Attention to detail and the ability to work with precision in a fast-paced environment.
• Excellent analytical, problem-solving skills and strategic thinking skills, with the ability to apply tax regulations to complex real estate transactions

Work Experience Qualifications

• Bachelor's degree in Accounting, Finance, or related field; Master's degree preferred
• CPA, CFA, MBT or JD in Tax Required
• 8+ years of experience in real estate tax compliance (legal or accounting), with a deep understanding of real estate tax laws and regulations
• Solid experience in Subchapter K of the Internal Revenue Code
• Proven expertise in UPREIT taxation, real estate partnership taxation, and tax compliance
• Experience in reviewing partnership and joint venture agreements
• Experience with profits interest plans and related tax structuring
• Deep knowledge of tax laws, regulations, and reporting requirements relevant to the real estate sector.
• Excellent understanding of real estate tax concepts, such as property taxation, capital gains tax, partnership taxation, and 1031 exchanges.
• Experience with CCH Access tax software and MRI financial reporting systems or similar preferred
• This is a fully remote position within the U.S., however, candidates must work PST/MST hours.

Working Conditions:

Environment - The primary working environment is an Indoor Home Office Setting utilizing computer workstation and general office equipment. The position will sit at their workstation for a significant portion of the work.

Physical Requirements - The physical demands of the position are consistent with administrative/clerical work in an office setting and involves extended periods of sitting at a desk, using a computer for typing and data entry, and managing paperwork. It requires fine motor skills for operating a keyboard and mouse, as well as handling and organizing documentation, which may involve lifting, bending, and reaching. Employees also need to maintain good visual attention for prolonged periods of reading or screen time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.