Manager of Partner Income Allocations & Capital

Taft is seeking a Manager of Partner Income Allocations & Capital to support our team in our Cincinnati or Indianapolis office.

We are seeking a Manager of Partner Income Allocations & Capital with 5+ years’ experience to join our team in Cincinnati or Indianapolis. All Taft employees operate under a “Client First” philosophy—in all things, we seek to provide exceptional services to our clients.

Responsibilities:

• Supervises the preparation of and occasionally prepares the master spreadsheets which calculate Partner and Senior Counsel semi-monthly payroll.
• Prepares and maintains the master spreadsheets for calculating partner distributions related to contingent fee payouts, which follow different rules.
• Supervises the generation and distribution of Personal Expense and Business Development  statements for Partners.  Answers and researches questions.
• Reconciles Senior Counsel and Partner distribution spreadsheets to actual ADP payroll files and the general ledger.  Compares gross earnings, pre-tax deductions, other taxable income, employee FICA to employer FICA, and retirement plan calculations.
• Prepares and reconciles all spreadsheets related to calculation of partner capital accounts, applies partner income allocation rules.  Maintains a solid understanding of the Partnership Agreement, its impact on Partner income allocations and how to apply those rules to new situations.
• Prepares return of capital reports for Partners receiving capital payouts.  Processes ACH requests for the tax-free portion of capital payouts.
• Creates and maintains partner compensation and estimation models for retirement plan enrollments, partner requests, and other management needs.
• Supervises updates to the Partner Vote Table and Partner Participation Change File for changes to equity partnership.
• Analyzes monthly financial statements, creates income distribution files and updates capital statement files.
• Prepares annual budgets for expenses related to partner payroll and capital payouts to former partners, including year-end projections and analysis of actual results compared to budget.
• Understands the preparation and detail for Prepares and posts  journal entries for Partner payroll and reconciles to ADP.
• Supervises the processing of staff Personal Expense Statements and helps coordinate communication for payroll deductions.
• Performs miscellaneous reporting and analysis as requested by management.

Qualifications:

• Bachelor’s (B.A.) degree in Accounting, Finance or equivalent.
• At least five years’ analytical experience in a financial accounting or payroll-related role.
• Solid understanding of basic payroll and benefit rules, as well as current laws and regulations for payroll, tax and other withholdings, and other benefits.
• Advanced proficiency in Excel, reflecting a strong comfort level in working with large spreadsheets, and understanding, auditing and modifying complex, multi-step formulas.
• Experience with payroll software, especially ADP Workforce Now, is preferred.
• Strong written and verbal communications skills.
• Ability to adapt to changing priorities and work well under pressure with a high degree of independence.
• Ability to exercise discretion, good judgement and maintain confidential information.
• Strong attention to detail and organization skills.

Candidates interested in Cincinnati should apply here.

Candidates interested in Indianapolis should apply here.

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^{Taft is an Equal Opportunity Employer. The information in this posting presents general duties, tasks, and responsibilities but is not intended to be an exhaustive listing. Taft Stettinius & Hollister LLP participates in E-VERIFY.}