Hedge fund chooses outsourcing to address complex audit and tax issues

Our client’s need

Our client is an investment adviser with limited in-house resources to address complex audit and tax issues. The CFO and executive team needed an experienced accounting firm to assist them in these areas.

Baker Tilly solution

The Baker Tilly team was selected because of our deep industry experience serving asset management and financial services companies, as well as the technical knowledge of our specialized professionals.  Over the years, we have assisted this client with a number of outsourced financial statement audit and tax compliance services, including:

  • Prepare tax estimates for their portfolio of hedge funds
  • Prepare tax estimates for the management company
  • Prepare estimated taxable income for the principals
  • Review federal and state tax returns prepared for the funds
  • Prepare federal and state tax returns for the management companies and general partners
  • Prepare passive foreign investment company (PFIC) statement
  • Act as tax advisor to the CFO
  • Assist in the preparation of the management company audit

Results achieved

  • The client’s staff members do not waste time training us on their industry because we have deep knowledge of the asset management and financial services sector
  • With Baker Tilly, they receive experienced tax advice specific to their unique situation which helps avoid surprises down the road
  • Executives are able to stay focused on what they do best by outsourcing this tax and audit preparation work