“We often have complete knowledge of our clients’ financial matters, investment accounts, etc. yet, ironically, we have always struggled with having visibility into something as basic as the time they spend in different locations. With Monaeo we’re able to offer our clients a solution to help with the inefficient and ineffective day count related record keeping process. We also expect the visibility into our clients’ situation to help considerably enhance our value-add throughout the tax year with alerts and up-to-date day counts, as well as drive towards the best possible outcomes when it comes to residency and allocation audits with the detailed auditable reports Monaeo provides. For the first time, I’ll be able to pick up the phone to my clients around 3Q/4Q of each year and warn them, if they are getting close to the 183 day mark, to stay out of a particular city or state and thus avoid statutory residency issues, as opposed to waiting until the following year to get their records only to find out it’s too late. I also expect to not have to put our resources and credibility with the tax authorities at risk each year.”
– Rosario J. Ruffino, CPA, CFP®, Managing Partner, Mariner Wealth Advisors, LLC New York City