Members in the News

Debbie Cutler (Nassau)

Donald Trump’s Accountant Likely Violated Confidentiality Rules

TIME Money

Donald Trump’s accountant, Jack Mitnick, was the lynchpin to confirming the validity of the presidential candidate’s 1995 tax returns, leaked to the New York Times. But in doing so, he may have violated client confidentiality rules. You shouldn’t expect your accountant to do the same, though. The Times on Sunday published a story, based on state tax returns, showing that Trump claimed a $916 million loss in 1995. which could have permitted him to avoid paying income tax for 18 years.

Debbie Cutler (Nassau)

Did Donald Trump’s accountant talk out of school?

McClatchyDC

It’s one of the first rules of accounting: Don’t talk about your personal clients. Accountants and an attorney who represents accounting firms on Monday questioned the decision of a former accountant for Donald Trump to talk to The New York Times for a story that recounted how Trump had claimed a $916 million loss that could have allowed him to legally avoid paying federal income taxes for up to 18 years.

Scott Adair (Rochester)

Retirement planning mistakes to avoid

WROC News 8

CPA Scott Adair discussed some retirement planning mistakes to avoid Monday on News 8 at Sunrise. "The Economic Policy Institute says approximately half of working families are not saving for retirement, which is a significant amount of people who are really jeopardizing their future," said Adair.

Lynne Fuentes (Nassau)

Ones To Watch: Accounting/Education

Long Island Business News                  

Over her 18-year career, Lynne Fuentes has provided accounting, audit and tax planning services to individuals and businesses, including medical practices, construction and transportation firms. She is the managing partner at Fuentes & Angel CPAs, a full-service accounting firm with locations in Bethpage and Sea Cliff. On June 1, she began her term as president of the Nassau Chapter of the New York State Society of CPAs, after serving the chapter in a variety of roles beginning in 2004.

Julie Floch (Manhattan/Bronx)

Julie Floch, Nonprofit Finance Influencer, Has Died

The NonProfit Times

Julie Floch, a leader in nonprofit accounting and finance, died on Friday after a years-long battle with cancer. Floch was the partner in charge of accounting and consulting at EisnerAmper’s Not-For-Profit-Services Group and served on the board of a wide array of local and national organizations, helping to shape nonprofit accounting and transparency. A memorial gathering in Floch’s honor is planned for 3 p.m., Friday, Sept. 30 at The Princeton Club in New York City.

James Bowers (Syracuse)

People News – Sept. 23, 2016

Accounting Today

NEW YORK - James Bowers, partner-in-charge of the railroad industry at Bowers & Co. CPAs PLLC, Syracuse, has been chosen to receive the 2016 Urbach CPA Community Builders Award from the New York State Society of CPAs and the New York Council of Non-Profits for his leadership in recovering a number of nonprofits throughout his career.

James Bowers (Syracuse)

Albion native honored for charity work

The Daily News

An Albion native is being honored for his work in helping save two charities in Onondaga County. James Bowers, a certified public account, was chosen to receive the 2016 Urbach CPA Community Builders Award. The award is named after the late Michael Urbach, a CPA and former state Commissioner of Tax and Finance. Urbach served on a number of charities. The award is annually given to members of New York State Society of CPAs who made “outstanding contributions” while serving on boards of directors of charities.

Marilyn Pendergast (Albany)

Accounting 'Trailblazer' Celebrates 50 Years of Service

Time Warner Cable News

Long before computers and calculators, accounting was done by hand. "There was pencil and paper, for starters. There was a giant thing called a Contameter, but you didn't carry that around with you," said accountant Marilyn Pendergast. Pendergast knows it firsthand. She's been in the business for 50 years. "My first day was July 5, 1966," she recalled. Pendergast is considered a trailblazer in the accounting industry. She was the first woman president of the New York State Society of CPAs and has traveled the world promoting the profession.

James Bowers (Syracuse)

NYSSCPA honors James Bowers with 2016 Urbach CPA Community Builders Award

Accounting Today

The New York State Society of CPAs announced this week that James Bowers, Syracuse-based CPA and NYSSCPA member, has been awarded the 2016 Urbach CPA Community Builders Award in honor of working with multiple nonprofits throughout his career. The Urbach Award honors the late Michael Urbach, partner at Urbach, Kahn and Werlin (now UHY Advisors); former NYS Commission of Tax and Finance; and former board leader of multiple charities. The Urbach Award looks to recognize NYSSCPA members who have made significant contributions serving on the board of directors of charitable organizations.

Matthew Bryant (Rochester)

Tax breaks for homeowners

WROC Rochester News 8

CPA Matt Bryant discussed some tax break for homeowners Monday on News 8 at Sunrise. "There can be tax benefits for property taxes, mortgage interest and for home improvements," said Bryant.  "Everyone who pays property taxes can deduct those on two homes, so they can do it on both their primary home and a second home." Homeowners can also receive a break on mortgage interest.  "For those that have a mortgage, the interest is deductible - once again - on two homes, so if you have a home or a second home or a home for a parent," Bryant said.

Tom Walpole (Rochester)

Taxing Social Security

WROC Rochester First

CPA Tom Walpole discussed Social Security recipients and marriage Monday on News 8 at Sunrise. The topic was inspired by a viewer question which asked how much is taxed when it comes to Social Security recipients and marriage.  "The answer is, it depends," said Walpole.  "It's never easy with the government. You start out with a number called MAGI, which is an acronym for Modified Adjusted Gross Income. You take your adjusted gross income, and from that, you add any tax-exempt interest that you might have.

Joanne S. Barry – Executive Director and CEO

The Top People in Public Accounting – 2016

Accounting Today

Having Dionne Warwick at your annual dinner isn’t necessarily a sign of influence — but it doesn’t hurt either, and the fundraising opportunity it created is just one very conspicuous example of the ways Barry is rethinking things at the New York society. Others include a major new conference on sustainability accounting, a proposal to open membership to non-CPA professionals, and using IT and big data solutions to target prospective members.

Anthony Mangiameli (Rochester)

Talking payroll taxes on Labor Day

WROC Rochester First

Labor Day was created more than one hundred years ago to celebrate the social and economic achievements of the American worker. Now, we all see some of our hard work get taken away from our paycheck in the form of payroll taxes. It's easy to lose sight where that money goes and how that may benefit us. CPA Anthony Mangiameli says there are actually two payroll taxes. 6.2% goes to the Social Security Administration. There's also a Medicare tax of 1.8% which goes to the Medicare fund. They're both withheld directly from the paycheck.

Salvatore Collemi (Manhattan/Bronx)

The Decline in Global Audit Quality

Accounting Today

Ask any practicing CPA who cares about the profession, and they’ll tell you about the need for continuous improvements when it comes to a public accounting firm’s system of quality control policies and procedures. This need is at the very heart of the dynamic world of auditing, where subjectivity and the professional judgment of the auditor meet.

Akshay Shirmanker (Queens/Brooklyn)

IRS Creates Dedicated Web Page With Resources For Sharing Economy

Wolters Kluwer - Standard Federal Tax Reports (Page 4)

As the sharing economy grows, the IRS has responded with new resources for taxpayers. The IRS launched a Sharing Economy Tax Center on its website, highlighting tax issues for individuals and companies performing services in the sharing economy. Take Away. “The IRS and other regulatory agencies are trying to catch-up with developments in the sharing economy,” Akshay Shrimanker, CPA, chair of the Emerging Technology Entrepreneurship Committee of the New York State Society of CPAs, told Wolters Kluwer.

Kenneth Hall (Rochester)

Back to school tax tips

WROC Rochester First

CPA Kenneth Hall discussed some back to school tax tips Monday on News 8 at Sunrise. "The main one is the Child Care Credit," said Hall. "If you have a child, in the I-R-S' eyes, that's less than age thirteen, you can deduct up to twenty percent of three thousand dollars of child care that you pay for one child, and double that for two or more children." He added the adjusted gross income has to be $43,000 or lower and you have to have a registered child care provider.

Michael Goodman (Nassau)

How to widen your tax-cut window

MSN Money

The first few years of retirement are a perfect time to explore your passions, travel the world, and bond with your family. Something else they can be great for: cutting your lifetime tax bill—and leaving you more money to spend on yourself. The reason? Once you stop collecting a paycheck and start living off other funds—say, investments, part-time work, and maybe a pension—chances are good that, as for most retirees, your income will drop, putting you in a lower bracket.

Michelle Staebell (Rochester)

Dealing with student loan debt

WROC Rochester First

According to the Consumer Financial Protection Bureau, student loan debt has exceeded $1 trillion nationally.  That's why CPA Michelle Staebell, with the New York State Society of CPA's says it's important for recent college graduates to understand their debt, and prioritize.  But the saving should start early, well before college graduation. Staebell recommends students get summer jobs to learn the importance of a budget, and help save up money.

Lou Grassi (Nassau)

Accounting firms grow staff and services

Buffalo Business First

Growth-minded CPA firms are taking advantage of baby boomer retirements in their ranks to merge, acquire, specialize and hire their way into a greater share of the market. The strategy coincides with changes in the industry that favor value-added services such as niche consulting. The result is firms that hardly resemble those of the not-so-old days that relied on the traditional staple of tax and audit work.

Urbach CPA Community Builders Award

Firm News - Aug. 19, 2016

Accounting Today

NEW YORK - The New York State Society of CPAs and the New York Council of Nonprofits Inc. are looking for nominees for the 13th annual Michael H. Urbach CPA Community Builders Award, which recognizes CPAs who have demonstrated exemplary leadership to community-based charities. Nominations are due by August 26; for more information, visit NYCON at www.nycon.org or call (800) 515-5012.