Tax Consultant Summer 2016 Intern at Deloitte
Deloitte is one of the “Big Four” largest professional services networks in the world. It provides the following services to its clients: audit, tax, consulting, enterprise risk, and financial advisory.
Over this summer, I interned within Deloitte’s tax practice. Within the tax practice, I had the opportunity to work with the Multistate Tax and Tax Management Consulting groups which gave me a diverse internship experience.
In the Multistate Tax group, I worked primarily on investment management clients. In this group, I had to calculate the state apportionment, a method of allocating profit earned or loss incurred by a corporation or corporate group to states where the corporation or group has a taxable presence, for each of my client’s entities. In order to do so, I had to create excel reports and schedules which calculated the taxable income of entities that has a taxable presence in different states using 3 factors; sales, payroll, and property. These excel reports and schedules were then analyzed to identify any tax obligations that the client might have in a particular state.
The Tax Management Consulting group focuses on tax technology and how it can be integrated within tax departments to streamline tax compliance and reporting processes. In this group, I had the opportunity to work on a process improvement project for a private equity client. This project involved implementing ONESOURCE WorkFlow Manager, a web based software designed to automate tax compliance and reporting, improve document management, and provide a centralized database of entity information. In this role, I was able to utilize what I learned from my Digital Design and Innovation course. For this project, I was given an outline which included the scope of work, business requirements, objectives, assumptions, and the as-is and to-be business processes of the client which are topics that I learned in the Digital Design and Innovation course. I came on the project during the testing phase of the SDLC (Software Development Life Cycle) so a majority of my role involved validating whether the outputs were accurate and identifying any improvements that can be made. One improvement that was suggested was to add a data filtering option to the excel report that is generated when the software is ran by the end user. This was created by writing an IF statement and VBA code in excel so that only the data that the end user selects is shown. In addition to this, I also supported the file migration of the client’s shared drive to FileRoom, which is a document management system, in order to improve ease of access and maintenance of the documents.
Overall, this experience has given me a better understanding about the correlation between business and technology as well as being able to utilize some of the concepts that I’ve learned from my MIS courses.