2022 Jan-Feb BUZZ

THE BUZZ

MESSAGE FROM JOE DAMIANO

Team, In review of our banner year, I can proudly say that we exceeded the goals we set out to achieve.

Check out the 2021 Year in Review to view even more of our firm's success. Some of our most noteworthy accomplishments include the following: We exceeded our 2021 growth goals.

We successfully navigated remote working during this pandemic.

We have successfully launched Sax Capital Advisors to further diversify our firm.

We continued to make investments in our firm's future with the addition of our Cryptocurrency and Cannabis practices.

We upgraded firm technology (Phone system and new client payment portal).

We were recognized on the list of America’s Best Tax and Accounting Firms by Forbes for the second straight year.

We were named to INSIDE Public Accounting’s list of the Best of the Best Firms in the nation.

We increased our rank to #94 on Accounting Today and INSIDE Public Accounting’s Top 100 lists of accounting firms in the country.

We were ranked #43 on Accounting Today’s list of the Top 150 Firms by Assets Under Management.

We’ve continued to drive innovation throughout the firm.

We have continued to upgrade talent for succession planning.

We have continued to drive our firm's culture.

These achievements are due largely in part to our team of staff and advisors, and our high standards for client service and expertise. It is a privilege to serve our clients and our communities in our wide capacity, and it is a privilege to work alongside so many individuals who thrive on collaboration, results, and success.

I am looking forward to new opportunities in 2022, and our bright future ahead.

All the best,

HUMAN RESOURCES

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

Frank Ritorto Tax Manager Remote | 01.03.22

Frank graduated from The College of New Jersey with a Bachelor's in Accounting. He joins the Sax team as a Tax Manager effective January 3rd.

Fun fact: Frank roots for the Miami Marlins and Jacksonville Jaguars, so he's known the meaning of pain long before busy seasons.

Anthony Morreale Administrative Intern Parsippany | 01.03.22 Anthony graduated from Seton Hall University with a B.S in Business Administration (Accounting & Taxation). He joins the Sax team as an Admin Intern effective January 3rd.

Fun fact: Anthony is a massive sports fanatic. He constantly reads up on college sports recruiting, the New York Giants, and the New York Knicks.

Joseph Rockwell Tax Consultant Parsippany | 01.15.22 Joe attended Boston College in Massachusetts where he received a Bachelor of Arts (BA). He joins the Sax team again as a Tax Consultant effective January 15th.

Fun fact: Joseph plays a lot of golf and pickleball. He also enjoys traveling-especially to Arizona, California, Utah and Colorado!

Moniquea Prato Administrative Assistant Parsippany | 01.03.22 Moniquea attended the Weichert Real Estate School where she received her Real Estate License. She joins the Sax team as a full time Administrative Assistant effective January 3rd.

Fun Fact: Monique likes to work out, cook and decorate!

Drew Kretz A & A Senior Associate Remote | 01.10.22 Drew attended Robert Morris University where he received a B.S. in Accounting and East Carolina University where he received his Masters's degree.

Drew joins the Sax team as an A & A Senior Associate effective January 10th.

Fun fact: Drew was honorably discharged from the US Army Reserve in 2021 after 9 years with the rank of 1st Lieutenant.

Luke Cornelson A & A Associate Remote | 01.17.22 Luke graduated from Augusta University with a BBA in Accounting as well as a MACC from the University of Oklahoma. He joins the Sax team as an A & A Associate effective January 17th.

Fun fact: Luke sometimes performs in his local community theatre companies.

Jeffrey Halverson Senior Tax Manager Remote | 01.17.22 Jeffrey graduated from Grand Valley State University with a Bachelor'd in Accounting. He joins the Sax team as a Senior Tax Manager effective January 17th.

Kaden Mobley Tax Intern Parsippany | 01.17.22

Kaden received a Bachelor's in Accounting from Rider University. She is currently enrolled in a graduate program at Rider University for a Master’s in Accounting with a Certificate in Fraud and Forensics. She joins the Sax team as a Tax Intern effective January 17th.

Fun Fact: Kaden loves candles and will often make them in her free time.

Jose Flores Tax Intern Parsippany | 01.17.22 Jose graduated from Rutgers University in Newark with a degree in Accounting. He joins the Sax team as a Tax Intern effective January 17th.

Fun fact: Jose enjoys rock climbing, especially at night, as well as running when it's snowing outside while playing the Rocky soundtrack.

Gianna Coscia Tax Intern Parsippany | 01.17.22 Gianna is currently enrolled in William Paterson University where she is studying for her degree in Finance and Accounting. She joins the Sax team as a Tax Intern effective January 17th.

Fun Fact: Gianna is really good at baking.

Suchita Singh Senior Tax Associate Remote | 01.17.22 Suchita graduated from Oakland University in Michigan with a MBA in Accounting. She joins the Sax team as a Senior Tax Associate effective January 17th.

Fun fact: Suchita is a tax accountant and both of her kid’s birthday are in tax season, Feb 21st and March 28th .

Ann He Tax Intern Parsippany | 01.17.22 Ann attends Rutgers University in New Brunswick where she is studying to obtain a B.S. in Accounting.

She joins the Sax team as a Tax Intern effective January 17th.

Fun fact: Ann knows how to speak 3 different languages!

Daniel Davidson Tax Intern Parsippany | 01.17.22 Daniel is currently enrolled at William Paterson University where he is pursuing a degree in Accounting. He joins the Sax team as a Tax Intern effective January 17th.

Fun fact: Daniel is an avid reader and his favorite books are the Harry Potter series.

Justin Kean Tax Intern Pennington | 01.17.22 Justin is attending The College of New Jersey where he is studying for his degree in Accounting. He joins the Sax team as a Tax Intern effective January 17th.

Fun fact: Justin is on the TCNJ Club Volleyball Team!

Adan Cardosa Tax Intern Remote | 01.17.22 Adan is currently attending the University of Houston where he is working towards a degree in Business Administration with a focus in Accounting. He joins the Sax team as a Tax Intern effective January 17th.

Fun fact: Adan's family owns cattle and horses!

Brian Smith A & A Intern Parsippany | 01.17.22

Brian graduated from Fairleigh Dickinson University with a Bachelor of Science in Accounting. He is currently enrolled and attending Western Governors University for a Masters of Science in Accounting.

He joins the Sax team as an A & A Intern effective January 17th.

Fun fact: Nobody likes watching movies with Brian because he is always trying to predict the ending.

Yonathan Toribio A & A Intern Parsippany | 01.17.22 Yonathan received his BS in Accounting from William Paterson University. He continues his education at the same University with an anticipated Master's degree in Accounting this year. He joins the Sax team as an A & A Intern effective January 17th.

Fun fact: Yonathan likes to spend a good time with his friend and ride a bicycle in his free time.

Siobhan Morrissey Tax Intern Parsippany | 01.17.22 Siobhan is currently studying at Fairleigh Dickinson University for a degree in Accounting where she will be graduating in May of this year. She joins the Sax team as a Tax Intern effective January 17th Fun fact: Siobhan got to study abroad back in 2020.

Eliesa Odza A & A Intern Parsippany | 01.17.22 Eliesa recently received her Accounting degree from Montclair State University. She is still currently enrolled with a Master's degree anticipated in January 2023. She joins the Sax team as an A & A Intern effective January 17th.

Fun Fact: Eliesa loves to go to the gym and be active!

Jordan Brownlee A & A Intern Parsippany | 01.17.22 Jordan attends Montclair State University where she is currently studying Accounting. After receiving her B.S., Jordan wants to go for her Master's degree in Accounting with a Certificate in Forensics. She joins the Sax team as an A & A Intern effective January 17th.

Luting Zhao Tax Intern NYC | 01.17.22 Luting attended Yangtze University where she received her BA in English, and a MSA in Accounting from Baruch College. She joins the Sax team as a Tax Intern effective January 17th.

Fun fact: Luting loves food and loves to cook.

Leon Grassi CMO, Head of Business Development Parsippany | 02.01.22 Leon is our newest Chief Marketing Officer and Head of Business Development. He will lead the charge in developing and implementing an overall marketing strategy for the firm, directly engaging and managing the marketing team, and translating the company’s business objectives into strategies that drive revenue.

Fun fact: Leon rebuilds motorcycles and cars in his spare time.

Anna Snyder Associate Wealth Advisor Remote | 02.14.22

Anna graduated from Bucks County Community College and Temple University with a Bachelor of Business Administration in Financial Planning and a Associates of Science in Neuroscience. She joins the Sax team as an Associate Wealth Advisor effective February 14th Fun fact: Anna is a dedicated dog owner, podcast junkie, and a diehard fan of the Philadelphia Flyers.

Monika Chawdhary Senior Tax Associate Parsippany | 02.14.22 Monika graduated from Delhi University in India with a Bachelor's degree. She is also a Chartered Accountant from India with over 7 years of experience in Indian taxation with specialization in Transfer Pricing. She joins the Sax team as a Senior Tax Associate effective February 14th.

Fun fact: In Monika's free time, she likes chatting with her dear ones, watching movies and cooking various cuisines.

Vadim Bendersky Senior Tax Manager-Real Estate Remote | 02.21.22 Vadim attended The University of California in Los Angeles where he received a BA in Business Economics. He joins the Sax team as a Senior Tax Manger effective February 21st.

Fun Fact: Vadim loves to travel and has visited over 30 different countries!

James Nuzzi Associate Wealth Advisor Parsippany | 02.21.22 James joins the Sax team as an Associate Wealth Advisor effective February 21st.

John Nunes Tax Manager Remote | 02.14.22 John graduated from the University of Southern California with a degree in Accounting. He joins the Sax team as a Tax Manager effective February 14th.

Fun fact: John won a big prize on a televised game show.

Brad Gold Senior Tax Manager-International Parsippany | 02.21.22 Brad graduated from Brooklyn College with a B.S. in Accounting, as well as Pace University with a Masters in Taxation. He joins the Sax team as an International Senior Tax Manager effective February 21st.

Fun fact: Brad was born on Thanksgiving….in 2022 the days are aligned again….November 24th!

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

Amanda Malko Senior Tax Associate | Parsippany | 01.05.22 Mansing Wong Tax Associate | Parsippany | 01.07.22 Melissa Gravino Senior Tax Manager | Parsippany | 01.21.22 Donna Finale Account Support Associate | Parsippany | 02.07.22 Gail Kleinschmidt Client Support Associate | Parsippany | 02.14.22 Blagica Vodenicharovski A&A Associate | Parsippany | 02.14.22 Jack Cassidy Wealth Advisor Associate | Pennington | 02.18.22

Great Cards Sadchit Desai deserves a great card for the outstanding work he has been doing with a new client. He has gone above and beyond on this client that requires daily bookkeeping and has some challenges.

Yan Yu deserves a great card because she goes above and beyond to coordinate all aspects of the engagement and the Global CFO and his team consistently comment on the difference she makes.

Victoria Hochman deserves a great card because she continues to make a big difference on the mutual clients we serve, whether it be developing relationships with key personnel, training and transferring knowledge, or just a solid approach towards client service. I really enjoy working with her and look forward to additional opportunities to do so.

Great Cards Nomaan Ali deserves a great card for stepping in, picking up, and completing a Consolidated Tax Return on short notice that is due on 2/15. We want to recognize him for his effort, sense of urgency, and delivering a good product.

A big thank you to Nimra Ahmed and Igor Petrovic for their time and efforts working with the Senior Associates on “What it means to be a Senior Associate”.

FIRM ANNOUNCEMENTS

Starting Feb. 8, the West Fitness Center will be open from 7 am – 7 pm going forward. The East fitness center will remain the same from 7 am – 10 pm.

The West Fitness Center will also be open from 8 am - 1 pm on Saturdays.

Congrats to our Trivia Night Winners!

1st Place - Drew Kretz 2nd Place - Adan Cardoso 3rd Place - Jamie Torres

Microsoft Teams Tip When sharing a video with audio, select the "Include computer sound" button highlighted here.

FIRM ANNOUNCEMENTS

Effective February 28th, ordinary Teams chats will have a retention policy of 90 days. Chats older than 90 will be purged.

Teams Channel chats will match our email retention policy of 2 years.

Starting Feb. 8, the 1st Floor Cafe will start serving fresh food this upcoming Monday, February 28th.

Monday – Thursday: Breakfast Served 8:00am – 10:30am Lunch Served 11:30am – 2:00pm Not available Friday Please note that online orders must be placed for fresh options. You cannot order at the counter at this time. Graband-Go options will continue to be available as they are now.

Below are some helpful resources: Introduction to Dartcor Online Ordering Instructions Meet the Chef

MESSAGE FROM IT

Cyberattacks increasingly seem to target large-scale US infrastructure. The Biden administration has focused on shoring up US cyber defenses in recent months to protect against overseas attacks, including government entities and major businesses. But vulnerabilities always exist, and all it takes is one breach.

Please be careful when reading your e-mail messages. This includes clicking on any weblinks or opening attachments of messages that look obviously bogus or suspicious.

Please keep your Internet surfing habits to work-related websites. Prohibit downloading any applications, games, etc. Only access documents from Firm approved document portals, i.e., GoFileRoom, Client Portal, etc.

Congratulations to our team members who had new additions to their family!

Congratulations to Eric Seidman and his wife on their new baby girl! Liana Naomi Seidman was born on January 19th at 7 pounds, 10 ounces, and 20 inches long.

Congratulations to Jeremy Rhen and his wife on their new baby boy! Hunter David Rhen was born on January 28th at 6 pounds, 10 ounces, and 19.75 inches long.

Congratulations to James Moore and his wife on their new baby boy! Jaren E.J. Moore was born on January 28 at 7 pounds, 15 ounces, and 19 inches long.

Congratulations to Margaret Henn and her husband on welcoming their baby boy! Keenan Michael was born on February 5 at 8 pounds, 6 ounces, and 21 inches long.

2022 Holiday Schedule

The following are days Sax offices will be closed in 2022: Memorial Day - Monday, May 30, 2022 Friday, July 1, 2022 Independence Day - Monday, July 4, 2022 Labor Day - Monday, September 5, 2022 Thanksgiving Day - Thursday, November 24, 2022 Day After Thanksgiving - Friday, November 25, 2022 Christmas – Monday, December 26, 2022 Friday, December 30, 2022 (New Year's Eve) One Floating Holiday (eligible if hired before July 1, 2022)

BUSINESS DEVELOPMENT RECENT WINS A/O JANUARY 3

NEW CLIENT WINS Mazee LLC D/B/A Glee Gum

ENGAGEMENT TEAM Chris Gaffney

Meli Plumbing and Heating, Inc.

Ermal Luzaj

GMP Contracting LLC

Ermal Luzaj

C.C. Controlled Combustion Co.

Ermal Luzaj

Holland Tunnel Service Center Dr. Neal Varughese Wonder Meats Inc

Candy Gordon-Geanoules Maria Plucinsky Ermal Luzaj

AION Oakwood Recap Venture LLC

Eddie Rivera

Tameer Inc

Eddie Rivera

Tyler Transportation LLC

Eddie Rivera

FSC A Fund Investment LLC

George Livanos

Kramer Chandler, LLC

Stuart Berger

Clear Mountain Properties LLC

Eddie Rivera

JJ Martin Group LLC Triple C Labs, LLC Elion Mansfield Urban Renewal LLC Bio Compression Systems Inc. FSC A Fund Investment LLC

Joshua Chananie Shivani Jain George Livanos Debbie Nappi George Livanos

Justin Toner

Edvin Givargis

Blossom Dispensary LLC

Todd Polyniak

West Orange Farms LLC

Todd Polyniak

The Breslow Center for Plastic Surgery

Jennifer Moroz

Capco Enterprises, Inc.

Debbie Nappi

BUSINESS DEVELOPMENT

NEW CLIENT WINS Prio Pharma Inc.

ENGAGEMENT TEAM Joseph Damiano

Abrams & Fajardo LLP

Jennifer Moroz

Capital Home Care Inc.

Debbie Nappi

Sustainable Insight Capital Management, LLC

Adam Feldman

Jersey Meds

Todd Polyniak

Jackie Scura Realty LLC

Debbie Nappi

Noire Dispensary

Todd Polyniak

181 Harbor JV LLC Amazing Community Inc. Reframework Inc.

Eddie Rivera Stu Berger Helena Lynch

Beacon United LLC

Tod Christianson

M2 Real Estate LLC

Eddie Rivera

AMJ Capital OZ Fund I LLC

Eddie Rivera

Keystone Specialty Chemicals, LLC

Adam Feldman

Indigo Dispensary LLC

Todd Polyniak

City Farm LLC

Todd Polyniak

Jersey Leaf

Todd Polyniak

Happy Clound Inc.

Todd Polyniak

Mellow Pharma

Todd Polyniak

CLIENT INFORMATION UPDATES

Please email client changes to clientinfo@saxllp.com Examples of client changes include: New email address and/or phone number New AP personnel Change in main address or billing address (master and/or engagement) Please don’t assume someone else will make the changes. Be proactive and let the firm know.

Please continue to use NLAC@saxllp.com to report clients who are No Longer A Client

Sax’s New Client Payment Platform is Now Live!

Paying invoices just got easier for our clients through Sax’s transition to an enhanced payment platform through our new partner, Anduin.

Effective December 15, clients can now save payment methods, schedule future payments and more.

Moving forward, invoices will be received from invoices@saxllp.com and below is an example of what the new email will look like: Sample of Emailed Invoice:

Learn More Here

2022 BUSY SEASON Guidelines & Reminders

Tax February 7 to February 18 – 50 Charge Hours Per Week February 21 to April 15 – 55 Charge Hours Per Week

A&A Managers/Senior Managers – Busy season goal is 520 chargeable hours for the 13 week season from January 17 to April 15 Associates/Senior Associates – Busy season goal is 650 chargeable hours for the 13 week season from January 17 to April 15 All team members will continue to take a one-hour lunch break during the busy season.

The core hours of the office are from 8:30am to 5:30pm, M-F Paid Time Off cannot be scheduled: For the A&A team from January 10 to April 15 For the Tax team from February 7 to April 15

Reminders Knowledge transfer and training (i.e., training so work can be given to seniors and associates) Business Managed and/or Engagements worked on Client service (Client Service Delivery Model) Realization; attainment of budget Technical expertise and growth TEAMS Meetings - Some individuals will be working remotely on engagements. Please set up a Teams Meeting for the days of your engagements, so everyone on the engagement, no matter where they are, can interact like you would if the team were all in the same room.

Release Your Time Daily - We can’t stress enough the importance of releasing your time daily so managers can monitor progress on the job

Next Session: ● Monday March 7th, 2022 ● Time: 11:30 AM EST ● CLICK HERE to join!

View our 2021 Year in Review here

RETIREMENT PLAN UPDATE

Employee 401k accounts have been transferred to Principal. Employees can view their accounts on the Principal Website and Mobile App! We would like to remind employees to log in to your new account and establish security credentials, including two-factor authentication. This is an important step to take to help protect your account.

Please click the link here for account access Instructions and contact Principal at 800-547-7754 if you have questions during account set up.

Sax's TAKE 5 with SAX podcast, hosted by Todd Polyniak & Craig Cassano, was created so our clients can press pause on their busy work days and leverage the expertise of our resident experts who provide important things to know NOW. LISTEN TO OUR MOST RECENT RECORDINGS

Topic Focus: State and Local Tax Release Date: 1.17.22

Listen Here

Special Guest: Edvin Givargis, CPA, MST Head of Sax’s State and Local Tax Practice

Topic Focus: Business Valuations Release Date: 12.13.21

Listen Here

Special Guest: Megan Sartor, CPA, ABV, CFF Head of Sax' Valuation, Forensic, and Litigation Practice

Topic Focus: Cryptocurrrency Release Date: 10.28.21 Listen Here

Special Guest: Shivani Jain, CPA, MST Head of Sax’s Tax Department and Cryptocurrency Practice

FEBRUARY

Birthdays

Luke Cornelson Marie DeCaprio John King Eliesa Odza Megan Sartor Kathleen Alexander Cheryl Papay Joseph Rockwell Ralph Heiman Albion Derguti William Happe Jeffrey Mucha Anna He Thomas Kopnicky Siobhan Morrissey Victoria Hochman

02/02 02/03 02/04 02/04 02/04 02/05 02/09 02/10 02/16 02/23 02/24 02/24 02/25 02/25 02/25 02/28

Wajia Zaman Donald Ventriglia Debra Karacsony Matthew Goldstein Michael Rolls Susan Reed Jane Zuroff Chris Gaffney Carole Lombardi Jeffrey Halverson Ryan Fidlow Julia Prager Eric Seidman Stuart Berger Vincent Gaspari Jeff Holt Jia Xiang (Jay) Wu Randal Natoli Vadim Bendersky Kelly Behrens Helena Lynch

03/01 03/03 03/05 03/06 03/06 03/07 03/07 03/08 03/08 03/09 03/12 03/14 03/15 03/20 03/20 03/21 03/22 03/24 03/24 03/26 03/30

ANYTHING TO ADD? Email marketing@saxllp.com