Taking on Tax Season

Throughout the tax year the Finance Team performs many important duties supporting the mission of 4S Bay Partners. It would be hard to find any one duty more important than preparing for tax season.  The company is committed to being a responsible citizen in relation to our business and individual tax filings and payments.  

During tax season, our Finance Department becomes a hub of intense activity, ensuring that our companies and our partners have complied with all tax regulations while maintaining a sound financial position. The Team is responsible for planning, gathering, verifying, and organizing vast amounts of financial data from our related companies, our investment partners, as well as our outside tax consultants. This includes revenues, expenses, assets, liabilities, payroll records, and more.  Accuracy is critical, as errors can lead to penalties or audits.

While we respectfully pay our fair share of taxes, we are allowed the benefit of reducing our tax liability by the generous donations we provide to our philanthropic partners. These donations are some of the tremendous strides we take to fulfill our mission.

Our Finance Team works closely with tax professionals and external auditors to prepare federal, state, and local tax returns. They ensure all deductions and credits are properly applied and that documentation is complete. They also review prior year filings and stay up to date on changes in tax laws that might impact the business.

In addition to filing obligations, the Finance Department provides strategic financial analysis to our Managing Partner. This includes forecasting tax liabilities, identifying potential savings opportunities, and advising on the tax implications of business and investment decisions.

Finally, collaboration withing our departments is crucial. The team often works extended hours, coordinating with our Investment, Legal, and Operations departments to meet tight deadlines during  one of the busiest periods of the fiscal year.