August BUZZ

THE BUZZ

MESSAGE FROM OUR MANAGING PARTNER

Dear Team – August was a big month for us. As you are already aware, effective August 7 we acquired fellow accounting firm, James D. Miller and Co. based in New York City. I would like to take this opportunity to welcome the newest members of our firm to the Sax family. We are thrilled with this new partnership, and firmly believe that together we will accomplish great things.

We’ve also been included on INSIDE Public Accounting’s 2019 annual analysis and performance rankings of the country’s largest public accounting firms. This year, we ranked #99, debuting on the prestigious Top 100 list. This was an important growth goal of our firm, and this ranking illuminates and validates our commitment to our clients, expertise and service philosophies.

Other important highlights that came out of IPA’s analysis and rankings are that challenges will continue to face the nation’s largest public accounting firms, including declining profit margins, investing in and incorporating new technologies, recruiting and retaining the top talent needed for ever-changing services, and planning for succession. IPA states that the Top 100 accounting firms “will continue to flex their muscles and seize their share of the public accounting revenue (by acquisition, organic growth or both) to tackle and fund solutions for the future.”

The firm is confident we are addressing these challenges and are moving in the right direction. We are excited to see where our bright future will take us as we continue to strategically grow the firm, continue to build strong partnerships with our clients and centers of influence, and remain dedicated to the core values of Sax. Thank you.

Joseph Damiano

Joseph Damiano

HUMAN RESOURCES

Please join us in giving a warm welcome to the newest members of our Sax family.

Matt Bernocchi

Associate Wealth Advisor | Clifton | 7.01.19

Haneen Hamad

Admin Intern | Clifton | 8.26.19

Zachary Adler

Assistant Controller | Clifton | 9.09.19

The following individuals have moved from the A&A team to the Tax team.

Natasha Appiah, Tax Associate Candace Deosingh, Tax Associate

The following employees are no longer with the firm. We wish them the best in their future endeavors.

Matt Hahn Michelle Cannizzaro Shahil Patel

CTO | 7.26.19 Senior Tax Associate | 8.01.19 Senior A&A Associate | 8.09.19

Jennifer Onyeka

Senior Account Service Associate | 8.08.19

Jennifer Jimenez

Assistant Controller | 8.08.19

Alex Addessi Jack Tawil

Senior A&A Associate | 8.30.19 Manager | 8.30.19

Darrell Barredo

NYC Intern | 8.07.19

Trent Murphy

NYC Intern | 8.15.19

HUMAN RESOURCES

We would like to formally welcome the members of the James D. Miller & Co. team to the Sax family: Erik Hanson

Senior Advisor

Thomas Kopnicky

Senior Advisor

Randal Natoli

Partner

Kathleen Rutch

Partner

Annette Marzigliano

CSA

Matthew Kopnicky

CSA

Carol Gourley Erick Morillo

Senior Tax Manager Tax Manager

Gayle Boeckstiegel

Senior Tax Associate

Joseph Valveri

Senior Tax Associate

Yan Yu Keysha Kennedy

Tax Associate Senior Account Services Associate

Suzanne Yang

Senior Tax Associate

Patrick Brady

Senior Tax Associate

Tracy Melio

Tax Manager

BUSINESS DEVELOPMENT RECENT WINS - A/O 9.09.19

TOTAL WINS YTD

TOTAL RECURRING WINS YTD

$3,503,625

$2,565,475

NEW CLIENT WINS

ENGAGEMENT TEAM

1. Elite Home Products 2. Interactive Offers, LLC 3. Czech Please LLC 4. Smalls Electrical Construction, Inc. 5. BVF Engineering 6. Horn Electrical Contracting

Joshua Chananie & John Murphy Joseph Damiano & Joshua Chananie George Livanos & Alan Isaacs Michael Curry John Murphy & Al Traverso William Happe

7. Avalon Fashions, LLC

Frank Centrella & Josh Chananie

8. Fusion Transport LLC

Frank Pawlowski & Al Traverso

9. 12.18 US Hotel Holding LLC 10. Mahwah Holdings LLC 11. Bassil Family Partnership LLP 12. Park Avenue Rutherford 13. Skyline Scaffolding Group, Inc. 14. QED LTD 15. Solar Products Inc. 16. JSDD Foundation, Inc. 17. Link Performance 18. V3 Capital Management

Jeffrey Roude & Stephen Ehrenberg George Livanos Jeffrey Roude George Livanos & Jason Borofsky Ermal Luzaj Chris Gaffney Joseph Damiano & Joshua Chananie Maria Plucinsky Bob Hopper Joseph Shannon

Great Cards John Beckerle deserves a Great Card for going above and beyond when called upon. An existing client was in a bind when they needed to file sales tax returns in 40+ states and no longer had the staff to manage the process. John helped reconcile the revenue and make corrections in the files that needed to be uploaded. This work needed to be done immediately as the deadline to file was soon approaching.

Sax team members familiar with this process were unavailable to take this project on, and John stepped up to the plate to see it through even though this was a new project for him. John quickly rearranged his already full schedule, learned about the new tax software and the client’s systems. He spent a day at the client location and additional time in the office so that the client could timely file their returns. All this was done while effectively communicating with the client and the partner in charge throughout the entire process. John demonstrated his willingness to not only help when needed, but his ability to take on a new project and exceed expectations. We thank him for his hard work!

Submission Window is Open for the 2019 Founder's Award Stability, strength, and continued growth and success have been the pillars of Sax LLP’s standard of client service since 1956. Sax Founders – Sander Sax, Morris Macy, and Egon Fromm – inspired the vision of advancing clients forward by advising them in the key areas critical to their success.

This is in Sax’s DNA, and the cornerstone of how Sax does business today.

Our Not-for-Profit Focus Sax is a champion of not-for-profits and The Founder’s Award is a vehicle in which we can honor the values of our Founders by empowering and supporting those organizations in ways that ensure their continued existence and positive impact on our world.

We are thrilled to offer our local not-for-profits the opportunity to apply for this year's Founder's Award for their chance to receive a $15,000 unrestricted gift to support their organization's mission.

This year's theme: What's Your Impact?: Through the Words of a Beneficiary

Not-for-Profits understand how important it is to receive beneficiary feedback on services and programs to get a full, 360degree view of their impact.

We welcome our local not-for-profits to submit a non-professional video of a beneficiary responding to specific questions within Sax's application package to qualify for a $15,000 unrestricted gift, or volunteer hours to support their mission (runners-up).

2017 Founder's Award Winner: Imagine - A Center for Coping with Loss Theme: Sustainability

The deadline to submit an application for consideration is Friday, September 20.

For more information on the Founder's Award or to download the application package, please click

HERE

2018 Founder's Award Winner: Oasis - A Haven for Women & Children Theme: Inspiration

8th An nu al Sax has facilitated our annual 4 MILER at Garret Mountain event for the past eight years to support St. Joseph’s Children’s Hospital in Paterson, NJ and their Child Life Department.

The Child Life Department offers high-impact holistic therapies to their pediatric patients, including art therapy, horticultural therapy and animalassisted therapy. These therapies are shown to be highly beneficial in mitigating the negative effects of hospitalization, particularly for patients with chronic, life-threatening or terminal illness.

LEARN MORE: saxllp.com/SAX4MILER

Click here for the 4 MILER sponsorship form and give thought to clients, friends and family who may consider supporting the event.

Our goal is to raise $75,000 and make it our best year yet. Click here to donate. Sax matches all employee donations!

Register here for the 4 mile run, or scenic 1.5 mile trail walk.

There are also kids' dashes and activities for a family-fun event!

Grab 3 or more team members to create a Corporate Team to run or walk together to support the pediatric patients of St. Joseph's.

Help us raise awareness for the 4 MILER by clicking on each icon and following, liking and sharing our 4 Miler accounts!

We are almost at our goal of $75,000!

$65,232

Donate here and Sax will match your contribution!

The 4 Miler internal competition is heating up!

Who will get PTO time or lunch on Sax?!

Team Goldstein: 4,755 points

Team Weinberg: 2,510 points

Team Klarberg:

11,590 points

Team Petrovic:

Team Gil:

2,260 points

Team Goldstein: 3,335 points

7,280 points

Our Mission To educate and support our employees and our community in acting in an environmentally responsible manner by promoting waste reduction, recycling, and purchasing sustainable products in the workplace. Our aim is to develop goals, policies and practices to improve the well-being of our environment, and to be the bridge between new ideas that benefit our environment and their practical implementation. We believe strongly that we can make a positive change in our world as individuals, and by standing together as one company.

Our Vision To create an inherent mindset within our firm to act in a more environmentally responsible manner by creating sustainable habits that conserve natural resources and reduce our carbon footprint.

Any ideas to help our Green initiative?

Email: gogreen@saxllp.com

FIRM NEWS

Virginia Dennerlein joined the Sax team as Firm Administrator after shifting from her own business. From making sure the firm is running smoothly to finding quick solutions for difficult problems, Virginia's responsibilities keep Sax going and growing.

Deborah Nappi is a Director of A&A and has been part of the Sax team since she graduated college. Between overseeing the Accounting Services Group and being part of the growth team for our Healthcare Practice, Debbie continues to demonstrate expertise and dedication.

Read more about Virginia & Debbie in our Q&As

FIRM NEWS

Michael Mikhail is an Account Service Associate at Sax and came to the United States at the age of 18 to go to college and advance in his career. Michael's goal is to go back to school to receive his MBA in Finance and work up the corporate ladder at Sax.

Jeff Mucha is a Senior Manager and has been part of the Sax team since he graduated college. Although he does not specialize in a specific niche, Jeff considers himself to be a "jack of all trades" because of his expertise in every area of tax and accounting.

Read more about Michael & Jeff in our Q&As

Current Walker Tracker Leaderboard

Competition ends November 1.

Keep walking teams!

We are happy to introduce our new benefit insurance broker:

Current Walker Tracker Leaderboard

Customized Benefit Solutions, Inc. With over 25 years of experience, the benefit advisor team at Customized Benefits is available to help us with all of our benefit needs.

Should you have a question, need help with a claim, or just need guidance from an industry expert, please reach out to Customized Benefits directly at: questions.saxllp@cbsibenefits.com

HURRICANE DORIAN DISASTER RELIEF On Monday, September 2, Hurricane Dorian made landfall in the Bahamas, causing major flooding and destruction to the island.

By far the greatest devastation caused by the storm was in the northern Bahamas, where Dorian “planted itself” for 48 hours as a monster Category 5 hurricane. It obliterated everything in its path, including 60% of homes, and left approximately 70,000 people homeless and in need of urgent disaster relief. The Bahamas death toll has risen to 45 with thousands still unaccounted for.

The American Red Cross is accepting donations that will be directly applied to Hurricane Dorian disaster relief efforts. Donations will help to provide much needed food, water, supplies and aid to those affected by the Hurricane so they may work to recover from this disaster.

If you are able to donate to this cause, please consider making your donation through American Red Cross’s link below and forward your receipt to Margaret Henn at mhenn@saxllp.com.

Sax will match all donations made.

Click Here for the Hurricane Dorian Disaster Relief Fundraiser

ANNOUNCEMENTS | REMINDERS

Congratulations to John Beckerle, Michael Albert & Michael Doyle on passing their CPA exams!

ANNOUNCEMENTS | REMINDERS

Jason Borofsky has joined the Urban Land Institute - Northern New Jersey's Advisory Board as their new Treasurer and will work to continue to make ULI-NNJ a trusted resource for New Jersey's real estate community.

Junk Email Folder

Please be sure to periodically review your junk email folder in case a piece of mail from a client was sent there in error.

ANNOUNCEMENTS | REMINDERS

Team members attended the Advance Housing fundraiser which included a tricky tray raffle, paint and sip and silent auction.

Congratulations to Michael Cornell and his wife on their new baby boy! Jonathan Arthur was born on August 19, weighing 6 lbs 8 oz and 18.5 inches long.

ANNOUNCEMENTS | REMINDERS

Sax team members, Elena Klarberg and Candy Gordon-Geanoules attended the New Jersey Apartment Association's Women in Business brunch event with Lynne Aber of Bertram Associates and Ellen Sossin of Value Companies, Inc.

Team members participated in NJCPA's annual Emerging Leaders Kickball Tournament at the Indoor Sports Pavillion in Randolph NJ.

ANNOUNCEMENTS | REMINDERS

Kyle Stawicki's wife, Cara, and her team won GOLD at the 2019 World Rowing Championship in Austria!

Team members attended NAIOP's Community Action Day at the FoodBank of NJ where they volunteered their time to sort and pack food donations for the underpriviledged.

ANNOUNCEMENTS | REMINDERS

On January 1, 2020, we will adopt an automatic email retention policy of 36 months. At that time, emails older than January 1, 2017 will automatically be deleted and each day, emails older than 24 months will be deleted.

Emails providing support to an engagement are to be stored in either Caseware (business) or GFR (individuals, trusts and estates).

Oxford HealthSafe ID

During the month of September, Oxford is changing how you will be able to log into www.oxfordhealth.com. Members will need to create a HealthSafe ID, and the option for the old login will be removed from the Member login page.

Instructions can be found here.

Please contact Virginia Dennerlein with any questions or issues.

In addition to our partnership with Becker, we would like to announce our discount program with Wiley:

PRESS ROOM

Frank Pawlowski and Kevin Hansen were featured in a webinar and article for the M&A Symposium sponsored by CPA Leadership Institute on their experience with the completed merger of Hunter Group into Sax. Read the article here.

Sax was featured in Accounting Today for our recent merger with New York City-based accounting firm, James D. Miller & Co. Read more here.

Sax was ranked #25 on Construction Executive’s list of the top Construction Accounting Firms in the country, Read more here.

Sax's 4 MILER at Garret Mountain event was a feature story in a video made by NJ broadcaster, Steve Adubato. Stu Berger and Sue Reed were interviewed for the story.

Watch it here.

Sax's 4 MILER at Garret Mountain event was showcased by Accounting Today in their recent feature on "Firms Giving Back".

Read more here.

Todd Polyniak has started a podcast geared towards young entrepreneurs who want to make the world a better place.

Give it a listen here.

UPCOMING EVENTS

FIRM EVENT On-site Flu Shots WED. SEPTEMBER 18 | CLIFTON OFFICE | 10:00 AM - 12:00 PM The sign up sheet is in the Clifton kitchen on the 3rd floor.

INDUSTRY EVENT Joint Construction/Real Estate Client Appreciation Dinner with Mancini Duffy THURS. SEPTEMBER 19 | AVENUE A | 6: 00 PM

FIRM EVENT 8th Annual 4 Miler at Garret Mountain SAT. OCTOBER 5 | GARRET MOUNTAIN RESERVATION | 8:00 AM - 12:00 PM Please join us on October 5 for our 8th Annual 4 Miler at Garret Mountain to benefit St. Joseph's Children's Hospital and their Child Life Department. For more information, visit: saxllp.com/sax4miler

FIRM EVENT American Cancer Society: Making Strides Against Breast Cancer Walk SUN. OCTOBER 20 | PARSIPPANY, NJ | 8:00 - 11:30 AM Join Sax as we walk for a cure at American Cancer Society's annual Making Strides Against Breast Cancer. More information to follow.

FIRM EVENT October CFO Focus: Current State of Health Insurance WED. OCTOBER 16 | CLIFTON BOARDROOM | 8:30 - 10:30 AM Speaker: Paul O'Marden

ANYTHING TO ADD? Email marketing@saxllp.com