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What We Do
We are PCAOB registered CPA firm focused 100% on the alternative investment industry. Whether you’re a seasoned professional or an emerging manager starting a fund, Summit can provide formation services, annual audit and tax preparation, and ongoing advisory support.
How It Benefits You
We serve clients of all sizes and types, from the single manager hedge fund just starting out with friends and family, to the larger RIA’s with multiple funds across different asset classes, include hedge funds, private equity, SPVs, venture capital, private credit and much more.
Our Motto / Guarantee
Not happy with your current CPA firm that performed the audit and tax preparation last year? We are consistently 25-50% less than other audit firms, while providing better communication and timely meeting all deadlines.
Make Life Easier
You shouldn’t have to waste time with an inexperienced CPA firm, all our staff have years of experience auditing and preparing tax returns for investment funds. And if you are just starting, we partner with the best fund formation law firms in the business to get the process started.
2010
First Year of Operations
100%
Focus on Investment Funds
480
Clients Served
1000’s
Succesful Audits
25-50%
Lower Fees than Competitors
10,000’s
Issued K-1’s
Frequently Asked Questions
Our focus on automation, process, and transparency empowers us to act more quickly (and at a lower cost) than larger CPA Firms. Paired with our deep industry and market knowledge, we offer a unique blend of expertise and efficiency.
While our associates are currently laser-focused on audit and tax services for investment funds, we partner with specialized law firms to start the fund formation process. From there, we know the good, bad and ugly of services providers, and can walk you through choosing the right attorney, fund administrator and more.
Just send us a quick message about what you are thinking and we will provide resources, contacts, pricing and an intro to highly specialized attorneys who live, breathe, and sleep investment funds.
YES! We actually prefer to prepare both the audited financial statements and the year-end tax filings, they just go hand-in-hand. Having clients engage us for both the audit and tax preparation gives us special insight into what’s really important and creates a lower “bundle” pricing. For Funds not wanting an audit, we can definitely prepare the tax return and k-1s for the fund, general partner as well as any individual members or limited partners.
Most tax returns and audits take about 40-50 hours (one week) to complete once we receive accounting, statements and 1099s from your fund administrator and broker.
We budget 2-4 weeks from start to finish but will always meet the tax deadlines, as well as any SEC deadlines. We suggest not waiting until the last minute to begin the process.
99% of funds have an annual audit completed, whether its to satisfy state and federal regulations or more importantly, your investors want to see it. And more than likely, the offering documents will promise annual audits to each investor.
The good news is that Summit makes that process, and tax preparation, as painless as possible!
For investment fund audit and tax preparation, you will not receive an invoice until we have completed ALL the work. No more dealing with retainers, progress billings or even BIG surprises for fee increases.
We do not bill for quick email responses, short phone calls, or other minor matters. You shouldn’t be afraid to ask your cpa a question.
