Case Study

Investment advisor addresses tax structure and adds registered mutual fund

Case Study

Investment advisor addresses tax structure and adds registered mutual fund

Our client’s need

Our client is an employee-owned SEC-registered investment advisor. The company manages assets for institutions and individual investors through a registered mutual fund, a private pooled vehicle, and separately managed accounts.

Initially, our client needed help with its accounting and bookkeeping. With limited internal tax and accounting resources, company executives sought assistance from Baker Tilly.

Baker Tilly solution

Based on the high quality work industry specialists at Baker Tilly provided, what started as an accounting assistance project evolved into a number of valued services. To meet their tax, accounting, and advisory needs over the years, these services have included:

  • Insight and advice as the company purchased a registered mutual fund, including recording the acquisition accurately for accounting and tax purposes
  • Accounting procedures and bookkeeping efficiency consulting, including Quickbooks chart of accounts set up
  • Schedule C tax preparation for sole proprietor profit or loss reporting
  • Cash basis to accrual tax reporting
  • Complex tax structure consulting, including the impact on business and personal returns within certain taxable periods
  • Tax planning and compliance for the limited liability company (LLC)

Results achieved

In working with Baker Tilly, our investment advisor client experienced several benefits:

  • Understands the options and nuances related to its complex firm structure
  • Gains efficiencies in bookkeeping and monthly reporting
  • Has a transparent tax and accounting relationship
  • Receives industry insight and knowledge from experienced specialists
  • Works with a team that is responsive and wants to help

Our client appreciates Baker Tilly’s ability to pass along knowledge and explain things well. Company executives receive proactive ideas, different perspectives, quick responses when they call, and help with the details when needed.  

For more information on this topic, or to learn how Baker Tilly asset management specialists can help, contact our team.

The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely.  The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.

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