Members in the News

NYS Family Medical Leave Act terms
WROC Rochester First
CPA Tom Walpole discussed the New York State Family Medical Leave Act and its impact on employees starting July 1 Monday during News 8 at Sunrise. Employee payroll deduction will begin July 1. The current rate for 2017 is 0.126 percent, with a weekly maximum of $1.65. For someone making $500 a week, the deduction will be 63 cents. The rate will be reset annually. To benefit, employees must have worked 20 or more hours per week for 26 weeks to be eligible, or if less than 20 hours per week 175 work days.

Financial Planning: How to Handle Debt Collectors
WETM NBC 18 Elmira
Scammers pretending to be debt collectors could be trying to steal your money. CPA Paul Hornbuckle shares some tips on what to look out for and what to do if this happens to you.

MWE Partner Paul E. Becht, CPA, Begins Term as NYSSCPA Vice President
Margolin, Winer & Evens LLP
Margolin, Winer & Evens LLP, a CPA and Business Advisory firm, is proud to announce that partner Paul Becht, CPA, has been elected vice president of the New York State Society of Certified Public Accountants’ Board of Directors. His one-year term began June 1. Becht is currently on the Society’s Executive Committee and is co-chair of the Society’s Suffolk Chapter Accounting & Auditing Committee.

One installed as president of NYSSCPA
Long Island Business News
Harold Deiters III, a partner at Baker Tilly Virchow Krause in Melville, was installed as president of the New York State Society of Certified Public Accountants.

People On The Move  – Board of Directors
New York Business Journals
The New York State Society of CPAs elected Candice Meth, partner at EisnerAmper LLP, in New York, to its Board as vice president. Her one-year term began June 1. Candice joined the Society in 2010, is a member of the Society's Manhattan/Bronx Chapter, and lives in New York City.

The CPA Journal Announces Max Block Award Winners
Public Now
The CPA Journal, 'The Voice of the Profession,' published monthly by the New York State Society of CPAs (NYSSCPA), has announced the winners of its Max Block Distinguished Article Awards. Chosen by the magazine's editorial and editorial review board members, the winning authors were recognized in three categories for the most outstanding and thought-provoking articles published in 2016.

Keys to your financial plan
WROC Rochester First
CPA Michelle Staebell of the New York State Society of CPAs discussed the importance of having a financial plan and the ingredients to putting a solid one together Monday during News 8 at Sunrise. "It's very important for setting financial goals," Staebell said of financial planning. "You want to avoid financial setbacks in your life. You want to plan for unexpected life changes, and you want to really avoid debt and credit problems, if you can."

A few more nuggets from the NYSSCPA BV event
Business Valuation Resources - BV Wire
BVWire attended the annual business valuation conference of the New York State Society of CPAs (NYSSCPA) in New York City. In our last issue, we gave you a few takeaways—here are a few more. We’ll have full coverage in the July issue of Business Valuation Update. Is BV a profession? This was the title of the presentation by Mark Zyla (Acuitas Inc.), who focused on the recent developments in fair value measurements.

Financial advice for children
WROC Rochester First
CPA Matt Bryant of the New York State Society of CPAs offered some financial advice parents can share with their children Monday on News 8 at Sunrise. "It's a great idea to teach children that hard work can be rewarded," said Bryant. "If a child can do things around the house such as cleaning the dishes or vacuum, paying them can teach them that hard work can be rewarded." Summer offers a great opportunity for kids to earn some money near home.

NYSSCPA names winners of Excellence in Financial Journalism Awards
Talking Biz News
The New York State Society of Certified Public Accountants announced the winners of its 2017 Excellence in Financial Journalism Awards. This award recognizes reporters from the national and local press whose work was published, posted or broadcasted in 2016, contributed to a better and balanced understanding of business or financial topics. Winners were selected by a panel of judges comprised of NYSSCPA members and financial journalists, who ranked submissions on accuracy, quality and thoroughness of research as well as a fair and balanced representation of the topic.

CPA leader remembers mentor
Long Island Business News
President, Nassau Chapter of NYSSCPA honors late Hofstra Professor Robert Katz. 

Financial planning for newlyweds
WROC Rochester First
CPA Chris Gamble of the New York State Society of CPAs offered up some financial planning advice for newlyweds Monday on News 8 at Sunrise.

Travel financial check list
WROC Rochester First
CPA Tom Walpole discussed a list of financial to do's before you head out for that summer vacation Monday on News 8 at Sunrise. Walpole began by recommending taking advantage of auto pay to address your bills. "Make sure you check all the bills that are due to be paid while you're on vacation," he said. "Either pay them before you leave or put them on auto pay. You don't want to come back and have a lot of late fees looking at you." Make your financial institutions aware that you will be traveling.

It's Your Money: "Financial Spring Cleaning"
WETM NBC 18 Elmira
CPA Colton Monroe shares with us tips for cleaning up your finances on WETM NBC 18 Elmira.

FEGS: Is the nonprofit’s collapse a debacle, or a cautionary tale?
Accounting Today
The abrupt bankruptcy in early 2015 of the sizeable New York City-based nonprofit Federation Employment Guidance Services – FEGS – stunned many in the charitable world at the time. Its collapse has raised a host of questions regarding a substantial number of these entities, not the least of which is their economic viability. Nonprofit human services organizations throughout the U.S. provide services which include employment and workforce development, health and disabilities counseling, home care, and early childhood and after-school programs.

Paying it Way Forward
Figuring Financial Forensics
Last night I attended the New York State Society of CPA’s (NYSSCPA) Moynihan Fund Gala. I was looking forward to a fun night with my colleagues, looking out on the water as the sun set and enjoying good food and drinks. What I did not expect was the incredible history lesson that I received from Lifetime Award Honoree, Bert N. Mitchell. In 1987, Mitchell became the first black president of the NYSSCPA and, during his tenure, the NYSSCPA launched the Career Opportunities in the Accounting Profession (COAP) program.

Executive Profile: Harold Deiters
Long Island Business News
Harold Deiters, the partner-in-charge of the Long Island litigation and valuation services of accounting and consulting firm Baker Tilly Virchow Krause, has a new title. He's the statewide president elect of the 27,000-member New York State Society of Certified Public Accountants. Deiters, who takes the helm at the group on June 1, discussed his profession, priorities and some positive developments as well as problems they face.

Financial gifts for college grads
WROC Rochester First
CPA Jamie Block of the New York State Society of CPAs discussed some financial gifts for college graduates Monday on News 8 at Sunrise. "There's a lot of options so let's start at the beginning, and the first thing that I would recommend is that you get an appointment with a financial planner," said Block. "This is a great idea because you get the college graduate on the good footing and a great foundation and typically the people who start early have a very successful future." A financial planner can help college graduates see the big picture.

I Got an Audit Notice From the IRS ” Now What?
NerdWallet
It’s unlikely that you’ll be audited the IRS audits less than 1% of the tax returns it receives. If an audit notice does show up, though, tax pros say there are a few basic steps you can take to steady yourself. Make sure you’re actually being audited. People sometimes confuse an IRS adjustment notice with one for an audit, says Seattle-based CPA Robert Loe. (You can look up the types of notices here.) Adjustment notices come, for example, when the IRS finds a math error or discrepancy between your tax return and its records, and may offer instructions and information about changes to your tax bill.

NYSSCPA Outstanding Students of Accounting Award
SUNY New Paltz
The NY State Society of CPAs Mid-Hudson Chapter awards students who have demonstrated superior classroom and service performance.