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The InsIderMay 2016
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WeiserMazars LLP is an independent member firm of Mazars Group.
May 2016 5
WeiserMazars internal neWsletter
WelcoMe to the MaY 2016 issue
New Wins & New Hires/Highlighted Wins
Upcoming Events/Thought Leadership
We Are WeiserMazars Social Media SPMG Spotlight
Real Estate Summit
New Jersey Food & Beverage Forum
M&D Group - Navy Yard Tour
InSite
Office Community
Firm Initiatives
Press Mentions
Workday
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contents
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P c s F o r W o M e n P o D c a s t
Click here to check out the second episode in our PCS for Women podcast series, sharing the financial story of entrepreneur Nicole Ponseca.
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May 2016 May 2016 5
z znew Wins new hires
Senior Manager Andre Tulet and Manager Marine deToffol recently negotiated new business with Viderum Inc. to which business had been sourced by The Open Knowledge Foundation. The Open Knowledge Foundation, based in the UK, was founded in 2004 and will receive its non-for-profit-status soon. The Foundation has sourced out its business for online services amongst the development of open-data websites, especially towards gov-ernment agencies on a worldwide basis. The turnover in the past few years was approximately 600 – 1.2M GBP.
This business has been sourced out to Viderum Inc., established in Delaware.
Due to the low number of transactions going through Viderum Inc. at the moment, WeiserMazars’ engagement will be for ad-hoc advice and an occasional review of how the corporation is keeping the books on a time and material basis.
WeiserMazars will provide assistance with corporate income tax, year-end financials and a review of set-up and books ranging from incorporation to the present.
highlighteD Wins
New York OfficeSherry JonesJason RodriguezDonald ThompsonMirtha Mercedes
New Jersey OfficeLisa Patriarca
Pennsylvania OfficeMarissa Miller
1. Rocketer $50,000 Jennifer Sklar-Romano
2. Glenfarne Group LLC $25,000 Craig Fine
3. Armstrong World Industries, Inc. $23,000 Todd Heckman
4. Presidio Investors $20,000 Howard Dorman
5. Punch Fashions LLC $20,000 Barry Resnick
Long Island OfficeMelissa M. GomezKaitlynn MercurioNicole DragoChimudi Egbuna
Chicago OfficeKevin Thompson
May 2016 5
uPcoMing events
thought leaDershiP
6/3 - NJO Company Picnic
6/8 - Volunteer Day
6/9 - 2nd Annual NonProfit OpCon
6/10 - PIC Meeting
6/15- F&B CFO Boot Camp
6/15 - Volunteer Day
6/15 - NFP Roundtable
6/21 - Firm-Wide Partner Meeting
6/27 - 6/29 - AICPA NFP Industry Conference
6/28 - MSSL Meeting
Tax Alert: US Treasury Addresses Inversions and Intercompany Debt
Tax Alert: Massachusetts Amnesty Program Set to Expire on May 31, 2016
Tax Alert: Bad Boy Guarantees: Recourse or Nonrecourse Debt?
Going Concern Issues and Update
NonProfit Trends: Public Service Announcements - A Unique Gift-in-Kind Promotional Opportunity for Not-for-Profits
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click hereclick here HealthCare Trends: Cyber-attacks in Healthcare: A Growing, Dangerous Concern
Tax Alert: New DOL Overtime Rules to Have Sub-stantial Impact on Employers
Private Client Services Wealth Advisor
HealthCare Trends
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May 2016 May 2016 5
We are WeiserMazars
MAKE-A-WISH fundrAISEr
We raised $6,311!
Congratulations, WeiserMazars! We flew past our $5,000 Make A Wish goal and raised $6,311 - enough to support more than
one wish. Thank you to everyone who participated in this fund-raiser: you’ve helped make a wish come true!
Stay tuned for pictures from our Days of Service party at the Make A Wish castle, where we’ll meet our wish kid in person!
May 2016 5
# W M g o e s g r e e n
Don’t forget to participate in our new #WMGoesGreen contest for your chance to win! To participate, simply take a picture between now and June 17 using your new WeiserMazars tote bag and post it on Instagram or Twitter using #WMGoesGreen. If you don’t have Instagram or Twitter or if they are set to private, please send your picture to [email protected].
If you have not received a tote bag, please contact your local marketing department.
social MeDia
May 2016 May 2016 5
# W h e r e s W a h B a
It’s time to find Wahba! Every time Victor travels, he will tag a picture on Twitter with the #WheresWahba hashtag. Make sure to follow him on Twitter and check out his tweets from Thailand!
May 2016 5
M e e t t h e s t r a t e g i c P r o j e c t M a n a g e M e n t g r o u P
This new team, under the leadership of Rebecca Goodman-Stephens, will work closely with the MSSLs and OSGs to design and execute on projects in alignment with the strategic growth path and goals of the firm.
Get better acquainted with Robin Tornatore, one of the Strategic Project Managers.
Robin joined the SPMG in June of 2015. She is currently a senior in the Gabelli School of Business at Fordham University, working toward a Bachelor of Science in Public Accounting. At Fordham, she is a member of Beta Alpha Psi and serves as an advising assistant to first year students.
Fun facts about Robin:
• She has been taking dance lessons since she was four years old and was in a dance ensemble when she was in high school.
• She loves to go running and her dream is to one day run a marathon. • She likes to go for walks with her dog Bailey.• She loves to read and her favorite book is Atlas Shrugged by Ayn Rand.
May 2016 May 2016 5
W e i s e r M a z a r s c o M M e r c i a l r e a l e s t a t e v i P r e c e P t i o n
On May 9th, 2016 the Real Estate Services Group attended the WeiserMazars New York Commercial Real Estate Summit’s VIP Reception hosted by U.S. Immigration Fund at the New York Athletic Club’s rooftop solarium. The intimate reception included speakers of the conference, along with other clients and contacts. Guests enjoyed hors d’oeuvres and refreshments while they networked and soaked in the beautiful views of Central Park. To view all photos from the event, click here.
May 2016 5
W e i s e r M a z a r s c o M M e r c i a l r e a l e s t a t e s u M M i t
On May 10th, 2016 the Real Estate Services Group hosted the WeiserMazars New York Commercial Real Estate Sum-mit at the New York Athletic Club. The conference addressed the challenges that market uncertainty has created in commercial real estate and provided strategies and insight on how to overcome them. Featuring keynote speakers David Lichtenstein and Ian Schrager, the conference was comprised of industry leading speakers, including Steve Witkoff David Weinreb, Marty Burger, MaryAnne Gilmartin, Christopher Schlank, Mike Maturo, Carl Weisbrod and others. To view all photos from the event, click here.
May 2016 May 2016 5
n e W j e r s e Y F o o D & B e v e r a g e F o r u M
On Thursday, May 19th, WeiserMazars hosted the fourth annual NJ Food & Beverage Forum. The event was held at the beautiful Pleasantdale Chateau in West Orange, NJ from 5:00-9:00 p.m. Guests were greeted with a glass of champagne and proceeded to registration where they had the opportunity to drop their business card for a chance to win a Nespresso machine and sample a macaron from Laduree. After the hor d’oeuvres and cocktail hours con-cluded, guests made their way to the ballroom where they heard from our panel how technology and innovation are changing the food and beverage industry. Panelists this year included Cheryl Williams, Chief Information Officer at Wakerfern Food Corp., David Lipson, Owner and CEO at International Foodsource and Alina Zolotareva, Market-ing Manager at AeroFarms. The panel was led by Lou Cooperhouse, Director of Rutgers Food Innovation Center and President of the NJ Business Incubation Network. The panel discussion wrapped up with some Q&A from the audience and the night concluded with a dessert and coffee reception where guests were given the opportunity to network some more. For more information on this or other WeiserMazars Food & Beverage events, please contact Teresa Hansen.
May 2016 5
n a v Y Y a r D t o u r
On May 6, 2016, members of the WeiserMazars Manufacturing & Distribution Certification class braved the weath-er and the NYC traffic to participate in a tour of the Brooklyn Navy Yard. The group included professionals from the NYO, NJO, LIO, PAO and CHO and was led by John Barone and Katie Byrne. The day commenced at Building 92, home to an exhibit which showcases the history of the yard and some of the 350+ companies currently running their day-to-day operations from within its boundaries.
The Navy Yard was established in 1801 along with four other naval shipyards by President John Adams. It operat-ed as a navy base until 1966, when it was closed along with over 90 other military bases. The property was turned over to NYC, which reopened the yard in 1969 as an industrial park. In 1981, the city turned the management of the property over to the Brooklyn Navy Yard Development Corporation, which has worked to diversify the tenant base by attracting both large and small companies across many industries to the yard. They are currently in the middle of its largest expansion since WWII with the renovation of Building 77 into a Food Manufacturing and Food Service Space. The new industrial space is expected to add 1.8 million square feet over the next two years.
The tour of the yard included a visit to IceStone, a manufacturer of American-made sustainable countertop surfac-es made from recycled glass and concrete. The company was founded in 2003 and operates out of a 55,000 square foot facility within the Navy Yard. They currently sell three brands of products, IceStone, PaperStone and Quartz-Stone. Their most popular product, IceStone, is manufactured in 16 different colors and is produced using 30% concrete and 70% glass; 100% of which is recycled and sourced from all over the United States. They have a goal to become a zero-waste facility which they are close to meeting as they currently recycle over 90% of the waste they produce. IceStone is also a founding member of Certified B Corporations, which requires companies participating to meet social responsibility and environmental performance standards. The tour of the facility included a trip to an upper floor that gave the group a birds-eye view of the entire manufacturing process, which is streamlined and contained in one large room.
The manufacturing tour continued with a tour of Van Blarcom Closures (VBC), a long-time client of the firm under engagement partner, John Barone. VBC is the leading manufacturer of child resistant closures on pharmaceutical and household products. The company was founded in 1947; however the founding family has been manufac-turing the closures since 1924. Their facility consists of five buildings and takes up an entire city block in the Bed-ford-Stuyvesant section of Brooklyn. About 65% of the products produced within its walls are used for the pharma-ceutical and healthcare industries and the remaining 35% is used for household chemicals, cleaning and professional products. Their client base is so far reaching that there is a high likelihood that there is a least one VBC-produced cap in every household in the United States. The tour included a walk-through of the facility to see every part of the manufacturing process from the arrival of the resin used to make the caps to the melting and molding to the pack-ing and storage of the finished product.
At the conclusion of the tours, the M&D Certification group dispersed and went on their own way home to their respective offices filled with newfound knowledge of the vast differences in manufacturing processes.
May 2016 May 2016 5
n a v Y Y a r D t o u r
May 2016 5
W e l c o M e t o i n s i t e !
Our new portal has launched! Thank you to everyone who has set up their account and profile and attend-ed their office’s Opening Ceremony! If you missed your office’s Opening Ceremony, click here for an InSite
starter guide or watch the video below for a quick tour of the new InSite portal.
Don’t forget to participate in the contest for your chance to win a $500 flight voucher!
If you have not created your InSite profile and connected with 20 people outside of your department or industry, please do so now to be eligible to win the grand prize.
Thank you again for your participation and interest in InSite!
May 2016 May 2016 5
aFter BusY season Parties
The NYO, PAO and NJO enjoyed the end of busy season with the company of their fellow co-workers at their after busy season parties. The NYO celebrated at New York Beer Co., the NJO at the Fox and Hound and the PAO had fun playing office golf!
neW York WoMen’s FounDation BreakFast
On May 5th, Lisa Osofsky, Joan Antoniello, Audrey Fauroux, Susan Grbic, Katelyn Kogan and Rita Chung attended the New York Women’s Foundation break-fast, which honored Tory Burch, Elizabeth A. Sackler and The Young Women’s Initiative. The foundation’s mission is to create an equitable and just future for women, families and communities in NYC, ensuring economic security and justice for women and girls.
oFFice coMMunitY
May 2016 5
netWorking Panel
Gigi Chwazik-Gee, Fred Kaplan, Michelle Rizzo and Paula Ferreira spoke to a full house of PAO staff and professionals about effective networking on May 5th.
Pao real estate rounD taBle
Guest panelist Derek Sylvester of Gulph Creek Hotels spoke to an audience of Real Estate and Hospitality professionals on May 4th. Weiser-Mazars experts who joined Derek on the panel included Kirk Eldridge and Lisa Minniti.
oFFice coMMunitY
May 2016 May 2016 5
M&D Meeting
On May 3rd the Manufacturing & Distribution group had an offsite market segment meeting with partners and staff. The day was filled with presentations from various group members as well as other firm subject matter experts. The agenda covered a wide range of topics from Business Development and Client Care to Cross-helping, Talent Development and M&D Com-mittee Updates. The group will reconvene at the annual M&D Summit on November 1st.
2016 neW jerseY accounting, Business & technologY shoW
On May 17, Michael Schulstad and Michael Kupka presented a Preparing Evidence for the Prosecution seminar, discussing the challenges of tackling mil-lions of documents, emails and accounting books and records, sometimes spanning decades, to understand and prepare for a government case, typically in limited time.
oFFice coMMunitY
May 2016 5
st. john’s aWarD
Congratulations to Jim Kinney for being selected as the Executive of the Year at the St. John’s University Executive in Residence Program awards dinner on May 19th!
st. john’s universitY WeiserMazars aWarD
On May 16th, Andy Cohen attended the St. John’s University Department of Accounting and Taxation’s 11th Annual Academic and Service Awards. Andy presented Nadine Rios a $1000 scholarship on behalf of WeiserMazars.
oFFice coMMunitY
May 2016 May 2016 5
getting aheaD BY Being PoliticallY savvY
An interactive session with Ann Cammack, Principal of Ernst and Young’s National Insurance Tax Practice, took place at WeiserMazars on May 18. Ann discussed the value of informal and formal mentoring rela-tionships as well as how to be politically savvy in your everyday working environment. She also shared some of the insights she has learned during her career and led a discussion about what works in the real world, where attendees were able to bring their dilemmas and find out how others have addressed issues similar to theirs.
Two keys to success that Ann has noticed throughout her career are that young leaders need advice that’s more realistic, granular and nuanced and women need to pay more attention to interpersonal relation-ships as well as office politics.
Ms. Cammack has been the senior tax counsel on the US Senate Finance Committee and tax advisor to Chairman Baucus. She has also held executive positions at Massachusetts Mutual Life Insurance Company and the American Council of Life Insurers. Ann worked on insurance tax issues at the US Treasury Depart-ment in the Office of Tax Policy and even as an attorney in the Office of the Chief Counsel at the IRS.
oFFice coMMunitY
May 2016 5
riDe to Montauk
On Saturday, May 21st, the WeiserMazars Cycling Crew participated in the annual Ride to Montauk event. The team, comprised of employees from the NYO, NJO and LIO, flaunted their custom WeiserMazars cycling jerseys on their way to riding a combined 1295 miles. The jerseys, designed by the group leader John Ohannessian, were a major hit, garnering comments from fellow riders at all race starting points including Manhattan, Babylon, Mas-tic-Shirley and East Hampton. Along the ride, they even received remarks from clients that recognized the Weiser-Mazars name.
The team comprised heavily of casual riders and a few serious ones. Howard Landsberg, Barry Goodman, John Ohannessian and Andre Tulet pushed the pace and all finished the 108 miles in roughly seven hours of riding time. Overall, the ride was a major success with scenic views, unpredictable weather, team building, delicious apple pie along the route and a post ride celebration in Montauk with BBQ, beer, ice cream and massages.
Congratulations to all who participated: John Ohannessian, Andre Tulet, Howard Landsberg, Barry Goodman, Michael Brescia, Erin Conway, Nicolas Gurnot, Michael Laux, Svetlana Pak, Irina Razumovskaya, Matthew Simone, Jonathan Sinaw, Kevin Stepnowski, Anjanie Sudhai, Alice Sun, Andrew Wang, and Valeriya Yegorina. If anyone was missed, they can be easily spotted around the office as those whom are clearly way too sore to sit down for long periods of time.
oFFice coMMunitY
May 2016 May 2016 5
junior achieveMent oF nj - accountants/cPa BoWl-a-thon
The Annual Accountants/CPA Bowling-A-Thon is an industry-wide and state-wide fundraiser for financial literacy education that engages employees, company leadership and members of the industry to come together for a com-mon cause—empowering NJ youth to own their economic success!
Thank you to the teams who participated in last night’s annual Bowl-A-Thon at the Woodbridge Bowling Center and a big thank you to EVERYONE who donated.
All money raised through your efforts will be used toward educating young people about business, economics and free enterprise by the Junior Achievement program.
oFFice coMMunitY
May 2016 5
oFFice coMMunitY
a taste oF hoPe
As Treasurer and a member of the Board of Directors of The Hope Program, a lot of Bob Goldstein’s attention is focused on the program’s biggest fundraiser of the year, “A Taste of Hope.” It is a gathering of dozens of food and spirits vendors who prepare samples of their finest dishes and drinks to give out to all of the attendees. All of the Board members and employees are charged with the task of getting sponsors to place ads (thank you Weiser-Mazars), getting food vendors to display, inviting friends and family to attend and otherwise seek contributions from donors to support the event. The fundraising highlight of the evening was when two pairs of house tickets to the Broadway hit sensation “Hamilton” were auctioned off for $9500 each. The event has rasised over $1.5 million over the past 11 years to support the American Cancer Society’s mission and goal of eliminating cancer as a major health problem.
May 2016 May 2016 5
oFFice coMMunitY
oPening cereMonies
The WeiserMazars offices held Opening Ceremonies in honor of the launch of our new portal, InSite! Our em-ployees were able to receive a quick demo on using the portal while also enjoying snacks and games such as darts, bean bag toss, ring toss, Jenga and Powerade pong!
NJO LIO
PAO
May 2016 5
oFFice coMMunitY
oPening cereMonies
NYO
A big thanks to Felix Martinez for catering the NYO Opening!
May 2016 May 2016 5
FirM initiatives
WeiserMazars tv
Now you can catch up on what’s going on around the firm just as easily as with your fa-vorite television programs. If you have missed any of the slides, they’re now up on KB! Click here to view them.
To better communicate important informa-tion, every week there will be updates cover-ing material from newsletter and other email alerts to keep you informed.
Have something you want shared? Send it to Chris Rossi in the New York office and he will get it in the next week’s edition.
green teaM
Are you passionate about being green at home and in the workplace, being environmentally consciousand reducing your carbon footprint? Help build environmental awareness among your colleagues by joining the Green Team!
As a Green Team member, you can help develop green initiatives throughout our offices and participate in the planning and implementation of fun events! Want to learn more about the Green Team and how to join? Click here to read our Introductory Guide to WeiserMazars’ Green Team or email us for more information!
May 2016 5
FirM initiatives
Box toP$ For eDucation
As part of our continuing efforts to help the less fortunate by teaming with the Mercy Inn Soup Kitchen in Long Island, we are getting involved with their program Box Tops for Education, which helps schools in the surrounding area raise money for education supplies. If you would like to participate, click here to see all of the participating products whose packaging you can collect. Please send all labels to Lisa Bott in LIO. Thank you!
share Your storY!
Have you attended a recent charitable event or raised money for a favorite cause? Tell us your story! As part of a new Share Your Story series, we want to highlight the charitable contributions of our firm and employees.
Click on the image to fill out the Sharing Form or here to access it on KB to make sure your contribution is included. With your permission, we might highlight your story in a future issue of The Insider, on WeiserMazars’ social media, or in our firm’s year-end Annual Giving Report!
We also want to know if you are a member or board member of a committee or organization in your community. Send an email to [email protected] explaining your involvement and why your cause is important to you!
May 2016 May 2016 5
Press Mentions
“Top 12 Best Accounting Firms in New York City, New York,” Advisory HQ, May 2, 2016 “NYC’s Witkoff Tells Shanghai’s Greenland Group to Prepare for a Storm,” Mingtiandi, May 10, 2016
““We’re Going to See Some Real Distress,” The Real Deal, May 10, 2016
“WeiserMazars’ CRE Summit: Sponsors Face Tougher Scrutiny,” Real Estate Capital, May 10, 2016
“Howard Hughes to Self-Fund Seaport Development,” The Real Deal, May 10, 2016
“Leaving Taxing Times Behind,” Long Island Business News, May 10, 2016
“10 Must Reads for the CRE Industry Today,” National Real Estate Investor, May 11, 2016
“Who Can Ride the CRE Volatility Wave?” The Real Deal, May 11, 2016
“Going Concern Issues and Updates,” NJ CPA Magazine, May 16, 2016, written by James Sausmer
May 2016 5
WorkDay gives you the ability to easily manage and maintain your personal data online, at any time, with the click of a button. Some of the key functions of WorkDay self-service are:
• Change address & phone numbers • Update tax elections and direct deposit details • Update emergency contacts • Add professional licenses & skills • View office, phone number and email addresses of other WeiserMazars employees
You now have the ability to view your personal compensation history and benefit information, including the firm’s contribution to your benefits.
WorkDay is available 24/7 via an app on your computer, tablet and smart phone.
Learn more by reading our Lets Get Started - Welcome to WorkDay guide or accessing WorkDay via the icon on your desktop and by clicking here!
WorkDaY
May 2016 May 2016 5A C C O U N T I N G | T A X | A D V I S O R Y
www.we i s ermazars. com
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