Senior Tax Accountant (Family Office)

Senior Tax Accountant (Family Office) Location Dallas, TX (Oak Lawn area) :

Company Overview:

Petrus Trust Company, LTA (“Petrus”), serves as a single-family office for a prominent family in Dallas. The office provides accounting, bill pay, payroll, tax, investment management, and other services. Petrus began a digital transformation process in 2020 and is committed to implementing leading technologies and practices across the office.

Position Summary:

Petrus is currently seeking a Senior Tax Accountant to join the family office. This position will work closely with all members of the tax team and will be primarily responsible for assisting in the preparation of partnership and other business entity tax returns. The selected individual will also assist in the preparation of quarterly tax estimates and projections, designated tax research, and other special projects.

Primary Responsibilities:

• Preparation and review of legal entity tax work papers, including schedules to reflect:
  • book to tax basis income statement and balance sheet
  • book and tax basis capital roll forward
  • book and tax basis property roll forward
  • summary of book v. tax adjustments (M-1 items)
• Preparation and review of federal partnership and S-corporation income tax returns (forms 1065/1120S) and state income/franchise tax returns on CCH Axcess software.
• Calculating and projecting book v. tax differences for annual compliance, quarterly estimates, tax projections and budgets.
• Extracting general ledger financial information on a legal entity basis and identification of tax sensitive account details.
• Computation of quarterly/annual estimated tax liabilities and other tax reporting requirements.
• Application of capitalization rules related to fixed assets from construction in progress and related depreciation and amortization computations and projections.
• Verification of changes in equity for compliance with partnership agreement provisions related to capital account maintenance and allocation of income and loss provisions.
• Responding to tax jurisdiction notices.
• Oversee and own various project work, as well, work-flow management.

Potential Secondary Responsibilities:

• Prepare federal & state individual/trust tax workpapers in Excel-based format.
• Prepare federal & state individual/trust tax returns in CCH Axcess and reconcile against tax workpaper.
• Prepare gift tax returns.
• Prepare basis rollforward schedules for numerous taxpayer investment in partnerships.
• Compute quarterly tax estimates using Excel-based templates.

Required Skills/Abilities:

• The ability to communicate effectively with family members, outside advisors and other colleagues in the office.
• The ability to communicate effectively with the internal accounting staff regarding GAAP treatment v. tax accounting methods.
• The ability to handle difficult time pressures.
• The ability to assimilate a high volume of data with attention to detail.
• Strong work ethic, flexibility and ability to multi-task with competing priorities.
• Strong problem solving and analytical skills with ability to work independently.
• Ability to understand information flows and automate tax compliance processes to integrate with general ledger systems.
• Proficiency in MS Office and CCH Axcess preferred.

Education and Experience:

• Bachelor's Degree in Accounting; CPA strongly preferred.
• Minimum of 2-3 years of professional experience working in Public Accounting.
• Experience related to federal and state partnership tax issues required.

EEO Statement:

Petrus is committed to providing Equal Opportunity in Employment, to all applicants and employees regardless of, race, color, religion, gender, age, national origin, military status, veteran status, handicap, physical or mental disability, sexual orientation, gender identity, genetic information or any other characteristic protected by law.

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