Serving some of the wealthiest clients in the world, Commonwealth Trust Company is an independent family-owned boutique trust company with over 90 years in the business of providing trustee solutions. What sets us apart from all other trust companies is our specific focus on trust administration and not investment decisions, allowing for a singular, dedicated focus for our clients, many of whom run Fortune 500 enterprises. We are a local, privately owned non-depository trust company.
The primary function of the Senior Tax Accountant is to prepare and review Fiduciary Income Tax Returns and maintain the tax records of the trusts for which Commonwealth Trust Company serves as trustee.
EDUCATIONAL BACKGROUND & EXPERIENCE:
• Undergraduate degree in accounting, finance, taxation or other related field of study
• Minimum of three years of experience in taxation required
• Knowledge of directed trust tax issues is strongly preferred
• Three years of Public Accounting experience /active CPA license preferred
ESSENTIAL DUTIES AND RESPONSIBILITIES including, but not limited to:
• Review/preparation of annual tax reporting forms required by various trusts, most notably Form 1041: Fiduciary Income Tax Returns and related state income tax forms
• Review/preparation of other tax forms as needed relating to distributions, gifts, estate, and generation skipping taxes for the trust and its beneficiaries
• Review/preparation of tax return extensions and estimated tax payments
• Address income tax preparation issues, such as taxable income and expense allocations, specific deductions and miscellaneous itemized deductions, income distribution deduction calculation, relation of principal and income law regarding distributable net income, and the treatment of capital gains and losses
• Communicate and cultivate relationships with Trust Administrators, Trust Accountants, Legal Counsel and others to address issues relating to trusts and their beneficiaries
• Develop and maintain open communication with clients and other third-party support service providers such as CPAs and Legal Counsel
• Research and prepare tax memorandums supporting material tax positions
• Support and contribute to the establishment of meaningful, effective and efficient tax processes and procedures for filing complete, accurate and timely tax returns
• Mentor and share tax knowledge with others
OTHER SKILLS: Strong PC skills, ability to use Microsoft Office, Experience with trust accounting software such as Cheetah a plus, Knowledge of tax preparation software (ProSystem FX) and tax research software CCH, RIA, and/or Checkpoint a plus, Must be detail-oriented and have excellent client service and communication skills
Currently a hybrid work environment, with a mix of in-office and remote work
Commonwealth offers competitive compensation, benefits (including medical, dental, vision, 401k, life, disability & more), generous Paid Time Off and a culture where employees truly enjoy coming to work and being part of a world class team.