Members in the News

Todd Zgoda (Buffalo)

Small Business Owners Go It Alone

Accounting Today

More than half of small business owners are handling payroll, human resources and benefits administration by themselves, according to a new survey. According to certified public accountant Todd Zgoda of Bruce Zgoda, CPA, in Buffalo, N.Y., the risk of potential repercussions tops his list of reasons to recommend clients enlist a service provider to administer business functions such as payroll, HR and benefits.

Matthew Bryant (Rochester)

Tips for tax season

Rochester First

CPA Matt Bryant discussed several tips to help you get ready for the upcoming tax season Monday on News 8 at Sunrise. Bryant's first tip is to get organized.  If you have 2015 receipts from charitable donations, major home improvements, or other 2015 items, now is a good time to get that paperwork organized.  Any additional items received between now and the end of the year can easily be added to an organized file.

Joseph Perry (Suffolk)

Opportunity for accountants presents challenge for firms

Crain’s New York Business

The accounting industry is growing—and looking for more help. Of the 30 firms on Crain's list, 22 have expanded their total of New York-area professionals in the past year, culminating in an 11.4% overall growth rate. But this gain is mainly representative of the Big Four (PwC, EY, KPMG and Deloitte), which have increased their staffs at a 13.8% rate. The rest of the firms on the list experienced just a 4.5% bump, although it's not for lack of capacity.

Joseph Falbo Jr. (NYSSCPA President and Buffalo Chapter Member)

Are corporate tax inversions 'unpatriotic'?

Crain’s New York Business

With the long haul of a presidential election campaign just beginning, companies that leave the U.S. to lower their tax bills are likely to once again become political targets. But that won't prevent some firms from trying. "Inversions are still a hot-button issue in Washington," said Joseph Falbo, a partner at CPA firm Tronconi Segarra & Associates and president of the New York State Society of CPAs. "There are plenty of areas involving more egregious [tax avoidance], but a lot of legislators will continue to chase this issue down."

Joanne S. Barry (NYSSCPA Executive Director and CEO)

Losing Sleep

Accounting Today

Where to start? That’s the question facing the accounting profession, as it advances through a period of unprecedented change: Which of the many issues that cry out for attention should the profession address first? In trying to solve this riddle, we reached out to the leaders in accounting — the regulators, association chiefs, thought leaders, trailblazing firm owners, software developers, consultants and so on — and asked them what they thought were the most important issues facing the field.

David Young (Rochester)

Pensions and 401(k)/403(b)

WROC Rochester First

CPA Dave Young discussed the differences between pension and 401(k)/403(b) benefits Monday on News 8 at Sunrise. Young said pensions are designed to provide guaranteed income.  As long as the pension plan remains intact, you should receive income for life.  You don't have to do anything with this plan except participate.  Someone else picks the funds, administers the accounts and maintains them

Jack Angel (Nassau) - NYSSCPA COAP Program

Adelphi Hosts COAP Accounting Program for Minority High School Juniors

Long Island Exchange

For five years, Adelphi University has hosted the Career Opportunities in the Accounting Profession (COAP), a program intended to introduce minority high school juniors to the accounting profession, with the New York Society of CPAs (NYSSCPA), a non-profit organization representing CPAs throughout New York State.  More than 40 students from the region took part in an informative and intensive five day program to provide a pathway to success in the accounting field. 

Kenneth Hall (Rochester)

Tips for your first job

WROC Rochester First

CPA Ken Hall offered up some tips for starting your first job Monday on News 8 at Sunrise. Hall's first tip involves salary.  He said the salary you accept is the one you need to live with for at least a year.  Attempts to renegotiate any earlier will not go over well with employers.

Joseph Falbo Jr. - NYSSCPA President and Buffalo Chapter Member

NY CPAs open Albany office to expand legislative reach

Accounting Tomorrow

Last Thursday, the New York State Society of Certified Public Accountants (NYSSCPA) announced that they have opened a government affairs office in Albany as the 28,000-member association renews its focus on state legislation and regulations. The group, the state’s largest professional organization for CPAs, made the announcement during its annual Board of Directors meeting held at the Albany Hilton last week.

NYSSCPA

Firm News: Sept. 18, 2015

Accounting Today

The New York State Society of CPAs has opened a government affairs office in Albany amid a renewed focus on state legislation and regulations. The office will be used by the Society’s government affairs team for advocacy efforts with state lawmakers and regulators. The new office is located at 11 North Pearl Street in downtown Albany.

Joseph M. Falbo Jr. (Buffalo)

NYSSCPA Opens Albany Office to Lobby Lawmakers

Accounting Today

The New York State Society of CPAs is opening an office in the state capital of Albany to expand CPAs’ legislative reach. The new office is a sign of the 28,000-member association renewed focus on state legislation and regulations. The group, which is the state’s largest professional organization for CPAs, made the announcement Thursday during its annual Board of Directors meeting at the Albany Hilton this week.

Joanne S. Barry - Executive Director and CEO

This is the single most important trait CFOs need to have

Business Insider                                                                       

A strong CFO must navigate the ins and outs of their company's balance sheets, and they must competently explain the company's financial status and needs to members at various levels of management. In a 2013 survey from the American Society of Association Executives, Jeffrey Shields, executive director for the National Business Officers Association, said, "Above all else, the CFO must be seen as trustworthy and knowledgeable." Shields' sentiment was echoed by Joanne S. Barry, executive director for the New York State Society of Certified Public Accountants. She said, "Honesty and integrity must be at the core of a CFO."

Tom Walpole (Rochester)

CPA on First Job Considerations

WROC Rochester First

CPA Tom Walpole discussed some important considerations for someone who has just accepted their first job Monday on News 8 at Sunrise. Walpole discussed pay, in terms of hourly wages versus a salary.  He also discussed health insurance benefits - staying on your parents plan or evaluating your employers' options.  Walpole also talked about vacation time and taking what's owed, along with the importance of knowing the company's policies as laid out in the employee manual.

Edward Mendlowitz (At large member)

Art of Accounting: Write-ups and Concentration

Accounting Today

Much of an accountant’s work is done at the client’s premises. However, whenever we are there, it is an intrusion on their routine. We need to remember we are guests and should remain “out of sight.” Well, let me tell you what happened early on in my career. I was working in a photographer’s studio on a table near the middle of the room doing my write-up. Just for your information, write-ups were done in ink. The transactions were written in journals, the cash accounts were reconciled, and summaries were posted to the general ledger.

Michelle Staebell (Rochester)

Payroll taxes

WROC Rochester First

CPA Michelle Staebell discussed payroll taxes and their benefits for employees Monday on News 8 at Sunrise. Staebell said all employees must pay two types of payroll taxes on the money they earn.  There is a Social Security tax of 6.2 percent that goes to the Social Security Administration.  There is also a 1.45 percent tax that goes into the Medicare fund.  These taxes are withheld from the paycheck before the money gets to the employee.

Jeffrey Levine (Nassau)

The Right Way to Lower Your Tax Bill on an Inherited IRA

Time.com

My dad has a traditional IRA with non-deductible, after-tax contributions. He has to figure out the taxable and non-taxable portion of the distribution every time he withdraws money. As the beneficiary, do I need to do the same thing when I take distributions? Yes, you will have to do the same thing your father does or you’ll end up paying more taxes than necessary when you take the money out, says Jeffrey Levine, a CPA and IRA technical consultant at IRAHelp.com.

NYSSCPA Labor Day Press Release

Business Beat: Price Chopper, Salvation Army partner for schools

The Daily Star

CPA SOCIETY SHARES DATA - The New York State Society of Certified Public Accountants has publicized some facts through a media release in recognition of Labor Day. The nation's work force had 157 million people, 16 and older, as of June, and about 9.2 million of them are New Yorkers, according to the federal Bureau of Labor Statistics. As of 2014, 11 percent of American workers were union members, according to the Bureau of Labor Statistics, which is a drop since the early 1980s, when 20 percent of American workers carried union cards.

Chris Gamble (Rochester)

529 College Savings Plans

WROC Rochester First

CPA Chris Gamble discussed the benefits of a Section 529 College Savings Plan Monday on News 8 at Sunrise. Gamble said Section 529 plans are tax advantaged education savings plans for college education costs.  The name 529 Plan comes from the section of the Internal Revenue Code under which the plans were established in 1996.  The savings plans are operated by a state or educational institution and the earnings on the money invested in the plan are tax-free if used for qualified education purposes.

Edward Mendlowitz (At large member)

Art of Accounting: ¿Que Es Bookkeeping?

Accounting Today

Nobody knows bookkeeping anymore. Bookkeeping is done by every business, but it often seems completely automated. The transactions flow to where they need to, generating sales reports and backup schedules, financial statements, bank reconciliations, invoices and automatic bill payment. But no one seems to understand how this is done and the significance. Question: Does this matter?

NextGen article mention

Forensic Accountant Show Heads to Network TV

Accounting Today

Coming to the TV schedule later this year is a new series about a fraud investigator who finds out that her fiancé is trying to defraud her, and she is determined to turn the tables on him before he devastates her forensic accounting career. The series, called “The Catch,” is set to debut on ABC TV for the 2015-2016 TV season, so it will probably premiere sometime this fall. According to an article on the New York State Society of CPAs’ site, the show could turn out to be the CPA version of “Grey’s Anatomy,” as it was made by the same producer, Shonda Rimes of Shondaland.