The BUZZ - August 2018

THE BUZZ

MESSAGE FROM OUR MANAGING PARTNER I am thrilled to report that we have been included on INSIDE Public Accounting’s (IPA) annual analysis and performance rankings of the country’s 300 largest public accounting firms. This year, we ranked #101 on the list of top accounting firms nationwide – up 13 spots from 2017’s ranking at #114.

An important growth goal of the firm is to be recognized as a Top 100 accounting firm in the country by 2020. Earlier this year, Accounting Today recognized us as a “firm to watch” as we fall within striking distance of hitting the Top 100 firm mark. This is truly exciting news and these milestones could not have been reached without the efforts of each and every one of you.

Other important highlights that came out of IPA’s analysis and rankings of the nation’s 300 largest public accounting firms is the direction the industry is taking towards non-traditional services. IPA states, “Non-traditional services offered by the IPA 100, such as consulting, technology and financial services climbed to an average of 28% of total net revenue. 19% of the IPA 100 firms now generate more than 40% of their total revenue from non-traditional services”.

The need for a focus on non-traditional services is something we already know, and I believe our emphasis on added value for our clients is why we are positioned so well in the industry. These recent acknowledgements by IPA and Accounting Today illuminates and validates our commitment to upwards growth and meeting the increasingly complex needs of our clients as their trusted advisors.

We are on track for continued success, and on behalf of all of Sax’s partners, we thank you for your allegiance to our firm and our strategic goals.

Joseph A. Damiano

We are thrilled to announce our 7th annual 4 Miler at Garret Mountain, benefiting St. Joseph's Children's Hospital in Paterson, NJ. Since the event's inception, together we have raised over $360,000 to benefit the pediatric patients undergoing treatment and care.

Our 2018 firm-wide goal is $70,000 and Sax will once again match all employee donations made to the event.

Please consider supporting the children of St. Joseph's Children's Hospital by contributing to our firm's CrowdRise page and help get us to our goal!

SUPPORT THE 4 MILER AT GARRET MOUNTAIN HERE If you are interested in volunteering at the event, please reach out to Bianca Madrigal at bmadrigal@saxllp.com.

Saturday, October 6 | 8-11 am Garret Mountain | Woodland Park

HUMAN RESOURCES

SAX LLP REFERRAL PROGRAM You can help Sax LLP, a friend, and yourself by participating in the Sax LLP Employee Referral Program. If you are an eligible employee, you can earn an award of $7,500 if you refer an external applicant who is hired to a designated, open position at Sax LLP. Who is Eligible?

The Employee Referral Program is open to all non-partner Sax LLP Employees.

Members of the Human Resources staff and new hires resulting from established recruiting programs are not eligible.

How do I Refer An External Applicant?

Please submit the resume to the Human Resources Department. You cannot refer anyone who has already applied to Sax LLP or who already works at Sax. How Do I Get My Award?

Sax LLP will pay you a cash award (subject to taxes) in the amount of $7,500 if the person you referred is hired. $3,750 is payable on the 15th of the following month after the referred applicant completes six months of continuous employment with Sax LLP and the referring employee is still actively employed by the Firm. $3,750 is payable on the 15th of the following month after the referred applicant completes one year of continuous employment with Sax LLP and the referring employee is still actively employed by the Firm.

OPEN POSITIONS CAN BE FOUND HERE.

BUSINESS DEVELOPMENT

Sax Wealth Advisors has been named a "Fastest-Growing Registered Investment Advisor in the U.S." by Financial Advisor Magazine.

READ THE FULL PRESS RELEASE

GREAT CARDS Anthony Joseph demonstrated great work on the Crestron Electronics 1120S that we recently completed. His effort, attitude and contribution were excellent as he navigated through an extremely difficult S-Corporation return in a short period of time. This is an extremely important Sax client and Anthony worked long hours to complete the project within a tight timeline. Excellent job by Anthony and we really appreciate his contributions to the team and look forward to his continued growth in years to come.

Adam Nelson went out of his way during the transition of CSAs, to ensure operational issues like the fax machine not working or the alarm not setting properly were taken care of. He willingly became the point person in the NYC office as we tried to resolve issues. When the NYC office lost all of their connectivity in May, once again Adam stepped up and was able to help our IT department isolate and resolve the problem. Adam’s initiative and eagerness to help has established a more effective connection between Clifton and NYC.

TEAM MEMBER NEWS Congratulations to the Walking Warriors (Larry Gradzki, Mike Rolls, Maggie Krowka + Shivani Jain) & Jerry Mendoza who prevailed in the INNOVATIVE USA team and individual challenges!

Ermal Luzaj was awarded NJBIZ’s 40 Under 40 award for his professional accomplishments and dedication to his career and the community.

The Star Stainless engagement team enjoyed an Employee Appreciation Dinner at Capital Grill for wrapping up a successful year-end audit.

A few firm members participated in NAIOP's Community Action Day and helped sort and box donated food at the Community Food Bank of NJ.

Todd Polyniak, Tod Christianson, Josh Chananie and Kyle Stawicki all presented at the Accounting & Finance show at the Javits Center.

A number of team members participated in the NJCPA's Emerging Leaders Kickball Tournament for a great team-building event.

UPCOMING EVENTS MARKETING IN THE NEWS Jeff Roude was featured in Habitat Magazine for his expertise on funding projects and using a line of credit.

Read more here.

Sax Wealth Advisors was highlighted in CIANJ's Member News for their recent listing on the Financial Times' Top 300 RIA list.

Read more here Guy McPhail was featured in NJCPA Magazine and provided insight on how the tax law changes may impact financial planning.

Read more here Jeff Roude and Michael Benguigui were featured in MAREJ for their insights on Qualified Opportunity Funds.

Read more here Josh Chananie was featured in NJ Business Magazine with his contributions to the article, "How CPAs Tackle Budgets and Forecasts". Read more on page 60

MARK YOUR CALENDARS

This month, we are proud to shine our Sax Spotlight on Gregg Munn, Jr., who joined the Sax Wealth Advisors team in October of 2017 when Sax acquired the GM Financial Group. Once a member of Sax, Gregg quickly demonstrated his expertise and strong work ethic, in addition to his dedication to white-glove service for his clients. Gregg was promoted to Wealth Advisor at the beginning of July this year because of these stellar attributes.

Gregg Munn, Jr. CFPÂŽ, CPA Wealth Advisor, Sax Wealth Advisors

Gregg has a determined mindset, and some of his noteworthy accomplishments include passing the CPA exam, obtaining his Masters in Accounting, and becoming a Certified Financial Planner™.

Get to know Gregg better with our Q&A