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Director, Tax

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Chicago
 IL
Postal Code
60601
Country
United States

This job is no longer active.

Description


This position can be located in Chicago, IL, Atlanta, GA, Phoenix, AZ, or Rochester, NY

Broadstone Real Estate, LLC (“BRE” or the “Company”), a full-service real estate company that serves as the sponsor of three real estate investment offerings, is seeking a Director, Tax to oversee tax matters for all of the companies that it manages, including two real estate investment trusts (“REIT”) and one regulated investment company (“RIC”). The REITs that BRE manages are structured as umbrella partnership real estate invest trusts (“UPREIT”), allowing the REITs access to tax-preferred capital sourcing.

The Director, Tax will support the Company’s continued growth and will have the opportunity to lead all aspects of BRE’s tax department. The ideal candidate will thrive on the opportunity to “take ownership” of creating, growing, and managing this department. This role will require the proven ability to plan, direct, and execute tax projects focused on real estate, private equity, and pass-through entity taxation. The individual will function as a business leader through continuous networking activities at both professional and community based events. Candidates must have a demonstrated ability to continuously anticipate and resolve business issues and proactively work with all facets of the business, both internal and external, including accounting, acquisitions, investor relations, legal, and external tax advisors. The individual will be tasked with developing their direct reports, including an incumbent Manager, Tax and any additional staff hired to support the growth of the platform, and will serve as a role model, providing coaching, mentoring, and training to staff members. The individual will ensure professional development through ongoing education and obtaining additional certifications as appropriate.

Real estate experience, with an in-depth understanding of tax and legal structuring are a big plus. Consideration will be given to the totality of a candidate’s tax experience. Successful candidates will have a willingness and desire to proactively research and become subject-matter experts surrounding industry-relevant tax structures. For complex tax matters, the candidate must have an ability to engage and manage third party tax advisors.

The Director, Tax also oversees the timely and accurate filing of all federal, state, and local income and franchise tax returns for all of the companies managed by BRE, including the aforementioned REITs, RIC, and multiple limited liability companies and partnerships. The Director, Tax will liaise with the external accountants in the preparation of the various returns, as well as with the taxing authorities in the event of a notice or audit. The Director, Tax will also oversee quarterly and annual REIT and RIC compliance testing, including the department’s evaluation of book to tax differences, particularly with respect to fixed assets. The ideal candidate will have ten or more years of public accounting tax experience, be at the senior manager level, or above, or have equivalent industry experience. Partnership taxation experience and tax structuring experience highly valued. Candidate must have strong communication skills and be able to present at executive and board-level meetings. The individual will be able to work independently and be exceedingly well organized, flexible, and able to produce high quality work under strict deadlines. This position reports to the Chief Financial Officer.

Essential Job Duties and Responsibilities:
  • Lead the development, communication, and execution of an integrated growth strategy of the tax department in support of the Company’s overall strategic direction
  • Build, mentor, and develop the Manager, Tax and staff
  • Provide leadership for the tax team, working through multiple projects in a fast-paced and interactive team environment
  • Provide guidance in structuring UPREIT transactions, including oversight and subsequent tracking of property basis and ongoing member basis, and ensure proper calculation of built in gain, if any, resulting from the transactions
  • Participate in new product development, including providing insight and strategy for the related tax implications
  • Oversee the coordination with external tax accountants and auditors, including the preparation of federal, state, and local income and franchise tax returns for the entire Broadstone Real Estate family of entities, including REIT filings, limited liability companies, and partnerships
  • Manage third party tax advisors through complex tax matters and strategic tax planning. Successful candidates will be able to understand the business needs and transaction particulars in order to clearly articulate them to tax advisors and ensure accurate and timely resolution.
  • Oversee the quarterly and annual REIT and RIC compliance testing calculations and projections and monitor all aspects of REIT and RIC compliance
  • Overall responsibility for overseeing 1031 exchange transactions and the tracking of the tax basis of the properties
  • Oversee the annual calculation of the tax classification of dividends paid and review interim projections. Review earnings & profits calculations.
  • Communicate with taxing authorities in the event of an audit or in responding to or resolving tax notices
  • Partner with fund Controllers in preparing and reviewing quarterly tax provisions and state estimated tax payments
  • Maintain an in-depth knowledge of federal and state tax laws, regulations, and current tax developments, especially as they may pertain to the real estate industry in general and REITs/RICs in particular
  • Prioritize and manage multiple projects simultaneously, and follow through on issues in a timely manner
  • Additional duties as required
Skills/Qualifications:
  • Strong organizational and planning skills; Strong attention to detail; Passionate about quality and accuracy
  • Deep understanding of federal, state, and local tax responsibilities
  • Experience researching technical tax and/or legal matters
  • Excellent verbal and written communication skills with the ability to communicate complex information succinctly
  • Effective decision-making skills and an ability to perform under deadline pressure
  • Solid work ethic; Professional and proactive approach to work; Self-motivated, positive, confident, and committed
  • Able to handle multiple priorities and changes with professional demeanor
  • Self-starter and independent worker, who is not hesitant to ask for direction when required
  • Willing and able to travel to Rochester, NY when necessary
Education/Experience:
  • Bachelor’s degree from a four-year accredited university required; Master’s degree preferred
  • Certified Public Accountant
  • 10+ years’ public accounting experience in taxation, at the senior manager level or above, or equivalent industry experience
  • Strong knowledge of MS Office, including Word, Excel, PowerPoint and Outlook
  • Experience with modular-based accounting systems (real estate property management accounting systems preferred; MRI software experience a big plus)
 
 

Experience


10+ to 15 years


This job is no longer active.

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