Colleen Fay
CPA, MST
Partner, Practice Leader, Financial Services
Get to Know Me
Colleen Fay is the Practice Leader of Withum’s Financial Services Team. Overseeing a team of over 200 professionals, Colleen’s vision and goals have been shaped by her passion for the industry, solidified by her more than 20 years of experience in accounting.
Throughout her career, she has had an extensive focus in the alternative investment industry and is an expert in tax compliance and consulting for hedge funds, private equity funds, venture capital funds, funds of funds, general partners, and management companies. Always at the forefront of industry trends, ever-changing tax laws, and complex regulations, Colleen provides her clients with exceptional service, advice, and options to give them every advantage in this multidimensional environment.
Her unrelenting dedication and sought-after experience have proven invaluable to her clients, providing real-time solutions to achieve investment goals while mitigating risk. Colleen is fully versed in domestic and international investment funds, understanding the complexities surrounding fund structures, which brings a holistic approach to tax planning.
Actively involved in the firm’s internal best practices and continuing professional education program, Colleen develops course curriculum and provides instruction for national and local training seminars. As the firm’s Women in Financial Services Group leader, Colleen oversees networking events and educational seminars for women entrepreneurs. These events provide opportunities for professional development and further empower women within the financial services space. Colleen is passionate about this initiative because it facilitates the opportunity to advocate for our women team members and colleagues across the industry and supports them as they grow into the next generation of leaders.
Colleen applies this forward-thinking mentality to all facets of her position at Withum and beyond, making her a truly invaluable resource to her colleagues, clients, and organization.
Industry Expertise
Financial Services
Hedge Funds
Venture Capital
Private Equity Services
Special Purpose Acquisition Companies (SPAC)
Service Expertise
Learn More About My Story
Learn more about my professional experience and how I spend my time outside the firm.
Education:
- MST, Fairleigh Dickinson University
- MBA, California State University, Dominguez Hills
- BS, Accounting, University of Delaware
Professional Affiliations:
- Member, American Institute of Certified Public Accountants (AICPA)
- Member, New Jersey Society of Certified Public Accountants (NJCPA)
- Member, Women’s Association of Venture & Equity (WAVE)
- Member, New York State Society of Certified Public Accountants (NYSSCPA)
Colleen is a Girl Scout Troop Leader and was named the 2023 GSNNJ Women of Achievement Honoree. She is also a Student Community Association Member. She is a reliable voice in the profession and a sought-after speaker at numerous industry events, including but not limited to the Markets Group Private Equity Summit, The Women’s Venture Capital Conference, the Emerging Managers Conference by Hedge Week, and the Women’s Private Equity Conference.
Colleen also hosts ‘The Alternate Route,’ a podcast that invites industry thought leaders to delve deeper into the world of alternative investments. The show tackles complex topics, compartmentalizing them into thought-provoking content aimed at providing the audience with a deeper understanding of alternative investments.
Colleen believes in the importance of staying active. Outside of the office she can be found playing soccer and spending time with her family.
Authored Insights
Fifth Circuit Reconsiders Who Counts as a Limited Partner
For years, businesses and tax advisors have searched for a clear answer to a deceptively simple question: When is a limited partner truly a “limited partner” for self-employment tax purposes? Earlier this year, the Fifth Circuit appeared to provide that answer, tying the analysis largely to a partner’s legal status and liability protection. Many taxpayers…
Prediction Market Contracts and Federal Income Tax: Wagering, Investing or Something Else?
Prediction-market event contracts raise unresolved federal income tax questions because they combine features of wagers and financial instruments. A typical contract may allow a participant to buy a “yes” or “no” position on whether a specified event will occur—such as the outcome of a sports contest, election, weather event or other real-world contingency. Economically, these…