Fund Accounting

Sunday, 28 March 2021

Growing Popularity of 1031 Exchange Funds and Other Tax Advantaged Investments - Fund Accounting Service - PHXA

Capital Square is a national investment sponsor specializing in tax-advantaged real estate offerings, including DSTs and Qualified Opportunity Zone (QOZ) funds. Founded in 2012, the company has completed over $2.3 billion in transaction volume. The firm is a leading sponsor of DST offerings for both investors seeking replacement property as part of a Section 1031 exchange and cash investors. Capital Square currently focuses on multifamily and healthcare properties for most of its DST offerings. The company sponsors turn-key real estate investment offerings with low investment minimums providing investors access to larger and higher quality real estate. The company also sponsors QOZ funds for investors seeking the benefits available under the Tax Cuts and Jobs Act of 2017.

Contact Details:

sales@phxa.com

415-485-4500

2401 Kerner Blvd, San Rafael, CA 94901, United States

Fund Accounting Service

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Thursday, 10 September 2020

Phoenix American - Pandemic Recovery Plan

Phoenix American has had a pandemic recovery plan in place since the Swine Flu outbreak in 2009. Based on our experience and what we are hearing from clients and partners, here’s what we’ve garnered from customers regarding the current crisis from an operational risk perspective.

Disaster recovery plans are critical.

Your disaster recovery plan must be comprehensive, documented and tested. It must include preparation for remote working, data replication to a remote site and significant downsizing. An unexpected loss of human resources means your firm will need to be ready to operate with a minimal staff. The “shelter in place” orders were a surprise to many firms but detailed disaster recovery plans contemplated many of the needed responses.

Contact Details:

415-485-4500

Fund Accounting Service

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Thursday, 6 August 2020

Fund Accounting 101: What Is Fund Accounting? Phoenix American

Once the fund has gone live, as investors are admitted to the fund, money is coming in and assets are being acquired, fund accounting will conduct a review of the processes and workflow established in the initial set up and implement adjustments, as needed, to accommodate operational reality. Is cash coming in through the right channels? Is investment data complete and correct? Are subscription documents in good order: contact information, investor tax status, side letters? Are any unique calculations necessary? Is the deployment of capital changing the structure or flow of funds in any way? Do sub-entities or blockers need adjustment? It may be necessary to revisit the setup process or even draft amendments to the LPA or LLC agreement to accommodate how it is now known the fund is going to work.

Read More: Fund Accounting 101: What Is Fund Accounting?

Contact Details:

415-485-4500

Fund Administration

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Thursday, 30 July 2020

A Brand New Look And A New Website For Phoenix American

How our history has shaped us and our brand’s evolution.

We’ve recently embarked on an update of our brand image to coincide with today’s launch of our new website. We’re excited to add this milestone to Phoenix American’s 48 years in operation. As we look to the future, we’re also taking this opportunity to look at our surprising history and how it has shaped the company we are today.

The value we bring as a consultative partner.

From real estate and debt funds to commodity pools and asset-backed securities, we’ve served every kind of alternative investment fund and developed innovative solutions as new structures and strategies emerge.

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Contact Details:

415-485-4500

Fund Accounting Service

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Tuesday, 21 July 2020

New Report: Venture Capital & COVID-19 Trend Outlook - Phoenix American

We have published a new white paper examining the initial impacts of the COVID-19 pandemic crisis on the venture capital industry. Venture Capital & COVID-19: The State of Fundraising, Historical Downturn Insights & Startup Trends analyzes the effects on venture capital of the first four months of the pandemic crisis and the outlook for the rest of 2020 and beyond.

The paper draws on Phoenix American’s observations as a fund administration provider, conversations with the sponsors of its many client funds as well as interactions with partners, intermediaries and other participants in the industry. The company’s twenty-plus years as a fund sponsor as well as forty-plus years as a provider of fund administration services provides a unique perspective on current events and their effects on investment funds.

Read More: New Report: Venture Capital & COVID-19 Trend Outlook

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Saturday, 4 July 2020

What’s Covid-19 Impact On Commercial Real Estate? - Phoenix American

Our latest white paper examines the initial impacts of the COVID-19 pandemic crisis on commercial real estate across the United States. CRE & COVID-19 Winners, Losers & the Road Ahead, A Trends Outlook Report analyzes the effects on commercial real estate of the first three months of the pandemic crisis and the outlook for the rest of 2020 and beyond.

The paper draws on our observations as a fund administration provider, conversations with the client sponsors of real estate funds as well as interactions with partners, intermediaries and other participants in the industry. Our twenty-plus years as a fund sponsor as well as forty-plus years as a provider of fund administration services provides a unique perspective on current events in commercial real estate.

Top takeaways from the report include an analysis of differing impacts to various property types and regions of the country and what prospects for recovery in the near and short term appear likely.

Contact Details:

415-485-4500

Fund Accounting

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Friday, 19 June 2020

The Way Tax Season Should Be - Phoenix American

For alternative investment funds, tax season can be an onerous and distracting chore. But it doesn't have to be. With a stricter regulatory environment in place than in years past, federal, state, local and foreign tax filings as well as sales use tax, property tax, income tax, 1065 e-filing, 1099s and K-1s must be prepared with precision,.

The importance of the accuracy and promptness of these tax processes cannot be overstated. Nevertheless, rather than seek out an fundadministration firm with experience and expertise to assist in these functions, many firms handle their taxes in-house.

Several issues arise with in-house tax accounting.

"Tax season can be a distracting chore, but it doesn't have to be."

The problem with in-house tax accounting
At Phoenix American, we often find that clients are reluctant to outsource their tax document processing. This is due to a misunderstanding of the true costs involved.

A typical approach for many funds is to hire an outside CPA to work in conjunction with in-house employees. This can be far more difficult and expensive than it seems. To manage their own tax document preparation, a fund not only must hire one or more outside CPAs but also dedicate in-house operations personnel tasked with producing, processing and auditing the enormous amount of necessary data using internal systems not specialized for the task. This leaves a lot of room for human error and can take months to complete. After tax form data is produced, it still must be printed and mailed and/or filed online, time-consuming functions in themselves coming at additional expense to the firm.

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Contact Details:

415-485-4500

Fund Accounting

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