Tax Advisor

Mai; Kentucky; On-site; USD 90,000 - 130,000; Full time

Job summary

Mai is seeking a Tax Advisor in its Tax Department to prepare and review tax returns for individuals, trusts, S Corporation, C Corporation, partnerships, LLCs, non-profits, gifts, Canadian, FBAR, general excise/use, and personal property tax returns, including high-net-worth clients such as professional athletes.

The role requires CPA credentials or candidacy, strong knowledge of current tax law, and experience in planning, quarterly estimates, and year-end projections.

Qualifications

• Bachelor's degree in Accounting or related field required
• Certified Public Accountant or CPA candidate required
• MBA or related advanced degree preferred
• Five+ years of tax/accounting experience preferred
• Strong knowledge of current tax laws and high-net-worth taxation

Responsibilities

• Prepares and reviews tax returns for individuals, trusts, corporations, partnerships, LLCs, non-profits, gifts, and sensitive clients including athletes
• Coordinates with Sports & Entertainment and Wealth Management for tax planning and projections
• Researches athletes’ schedules and prepares duty-day calculations; amends returns for duty-day laws
• Allocates prize money and merchandising income according to state laws
• Responds to client notices from federal, state, and local authorities
• Works with tax authorities to secure refunds timely
• Plans IRS audits and prepares supporting documentation
• Maintains software systems and provides GoSystem RS software support
• Acts as bookkeeper/controller for client entities and prepares financial statements
• Leads independent non-profit audits and ensures GAAP compliance
• Prepares financial statements and tax returns for partnerships and LLCs under ownership
• Serves as trusted advisor and communicates solutions to clients and team
• Maintains confidentiality and high ethical standards
• Keeps up with continuing professional education requirements
• Sets up and terminates client entities with IRS and state authorities

Skills

Taxation

Tax planning

Client advisory

GAAP knowledge

Communication

Education

Bachelor's degree in Accounting

CPA certification or CPA candidate

MBA or related degree preferred

Tools

GoSystem Tax RS

SurePrep

Bloomberg Tax

GoFileRoom/FirmFlow

BNA Planner

CCH Axcess

Microsoft Office

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

GENERAL JOB DESCRIPTION

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.

MAJOR DUTIES AND 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.

EXPERIENCE/CREDENTIALS

• 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
• MBA or Master’s degreein Accounting, Taxation, or related field preferred

COMPETENCIES

• 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.