Tax Managing Director, Private Client Services

About the Role

Private Client Services at BDO is a boutique practice within our firm, offering a high-touch approach to serving high net-worth individuals, their families, family offices, C-Suite executives, athletes, entertainers, and others with complex tax and financial structures. The Private Client Services Practice specializes in estate, income, gift, and trust tax consulting and compliance; charitable giving and philanthropic foundations; executive compensation; and cash-flow, retirement, and life insurance planning.

A Tax Managing Director in Private Client Services (PCS) utilizes their educational background, professional experience, and skills in communication, time management, leadership, technical expertise, business development, and people management to provide tax compliance and consulting services to high net-worth clients. This role is a critical member of the office/region leadership team.

Responsibilities

• Leads tax and consulting engagements, teaching team members to identify and address client needs, tax planning, and consulting opportunities.
• Provides executive presence and acts as the primary client contact for preparation and presentation of issues and resolutions.
• Reviews complex individual, trust, estate, S-Corp, foundation, partnership, and gift tax returns, providing written and verbal feedback to preparers.
• Directs communication with government agencies for matters of the highest complexity.
• Identifies technical issues, conducts advanced tax research, and develops sound recommendations for PCS leadership, clients, and advisors.
• Expands in-depth understanding of tax concepts and knowledge through client engagements and current tax developments.
• Prioritizes and reviews work to keep engagements on track.
• Utilizes strong analytical, research, and critical thinking skills to assist with client needs regarding individual and business decisions.
• Assists with PCS/firm contribution responsibilities including billing, recruiting, attendance, and participation in CPE activities and training.
• Builds new relationships and maintains existing relationships with BDO professionals and external sources.
• Introduces and develops new or improved ideas to benefit clients, the firm, or firm personnel.
• May present complex strategies to clients and prospective clients.
• Advises clients on tax implications, recommends alternative courses of action, and identifies different methods of compliance.
• Manages and monitors key performance indicators (KPIs) as established by the business line.
• Performs other duties as required.

Supervisory Responsibilities

• Supervises associates, senior associates, and managers as needed.
• Reviews work prepared by associates and senior associates and provides review comments.
• Acts as a Career Advisor to associates, senior associates, and managers.
• Schedules and manages the workload of associates, senior associates, and managers.
• Provides verbal and written performance feedback to associates, senior associates, and managers.

Requirements

• Bachelor’s degree required; major in Accounting, Finance, Economics, or Statistics preferred.
• Master’s degree in Accountancy or Taxation preferred.
• Ten (10) or more years of prior experience in accounting, finance, or law required.
• Expertise in the private client service area required.
• Prior supervisory experience required.
• Experience working in public accounting preferred.

Qualifications

• Certified Public Accountant (CPA) credential, Internal Revenue Service Enrolled Agent (EA) credential, Attorney (admitted to practice in a U.S. jurisdiction), or equivalent designation required.
• Possession of other professional degrees or certifications applicable to the role preferred.
• Proficient in Microsoft Office Suite (Word, Excel, PowerPoint) and Adobe Acrobat required.
• Experience with tax compliance process software (GoSystems, BNA Tax Planner, GoFileRoom, SurePrep) preferred.
• Experience with tax research tools (BNA Portfolio, CCH IntelliConnect, Checkpoint, and LexisNexis) preferred.

Skills

• Owns their career and technical development.
• Demonstrates self-awareness and actively pursues projects and learning to fill technical knowledge gaps.
• Takes joint responsibility for the success of the practice.
• Effectively communicates complex thoughts verbally and in writing, synthesizing them into clear, concise language.
• Resolves client service issues in a timely and acceptable manner.
• Actively involved in practice matters such as recruitment, staff learning and development, scheduling, and retention.
• Develops an in-depth understanding of technical and practical issues for high net-worth individuals and their families.
• Recognized as an industry expert in specialized fields of taxation.
• Develops a network of key financial decision-makers, referral sources, and recruits.
• Actively networks professionally outside of BDO.

Pay

Individual salaries are determined based on qualifications, experience, skills, and geography. The following ranges apply by location:

• California: $215,000 - $270,000
• Colorado: $170,000 - $225,000
• Illinois: $175,000 - $250,000
• Maryland: $185,000 - $260,000
• Massachusetts: $215,000 - $300,000
• Minnesota: $170,000 - $250,000
• New Jersey: $190,000 - $350,000
• Ohio: $150,000 - $300,000
• NYC/Long Island/Westchester: $230,000 - $350,000
• Washington: $180,000 - $240,000
• Washington DC: $190,000 - $300,000

Benefits

BDO provides a comprehensive Total Rewards benefits package, including an Employee Stock Ownership Plan (ESOP) that offers participants a stake in the firm’s success through beneficial ownership. Benefits may be subject to eligibility requirements.