Transaction Tax Manager leading innovative tax planning and compliance for M&A projects. Collaborating with the Transaction Tax team to manage client engagements and mentor junior staff.
About the role
- Tax Manager managing tax compliance and reporting for a proprietary trading firm located in Chicago. Requires CPA and expertise in complex tax rules for trading entities.
Responsibilities
- Prepare and review federal, state, and local income/franchise tax returns for the broker-dealer and related entities.
- Manage preparation and review of Schedules K-1 for partners, ensuring accuracy and timely delivery.
- Lead preparation of partnership (Form 1065) and corporate (Form 1120) returns, including supporting schedules and workpapers.
- Oversee quarterly and annual tax provisions, estimated payments, and extensions.
- Maintain robust documentation for audit and regulatory review.
- Apply and maintain compliance with Section 475(f) mark-to-market elections.
- Prepare and reconcile tax reporting for Section 1256 contracts and Section 1092 mixed straddles, ensuring proper application of IRS rules.
- Identify and document book-to-tax differences from trading activity, including wash sales, options, and derivatives.
- Monitor legislative and regulatory developments that impact broker-dealer taxation.
- Advise management on tax-efficient structuring of trading activities and entity-level considerations.
- Liaise with external auditors, tax advisors, and regulators during examinations and reviews.
- Improve tax processes, controls, and reporting efficiency.
- Assist in partnership accounting and intercompany accounting.
- Month-end close and other recurring accounting team needs.
Requirements
- Certified Public Accountant (CPA) credential.
- Minimum 5 years of progressive tax preparation experience, with direct involvement in financial services or broker-dealer clients.
- Expertise with Section 1256 contracts (60/40 treatment) and Section 1092 mixed straddle rules.
- Experience with Schedule K-1 preparation and partner allocations.
- Prior experience with proprietary trading firms or FINRA-regulated entities.
- Familiarity with guaranteed payments, trader vs. investor distinctions, and allocation of expenses across related entities.
- Proficiency with GoSystem, CCH Axcess, or similar tax software.
- Strong knowledge of U.S. federal and multi-state tax law.
- Excellent analytical, organizational, and communication skills.
- Ability to manage multiple complex deadlines in a regulated environment.
Benefits
- Additionally, certain positions at Belvedere Trading are eligible for discretionary bonuses.
- Our employees have access to a variety of benefits, which can be found on our website here.
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