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THE BUZZ


MESSAGE FROM OUR MANAGING PARTNER

It’s hard to believe 2020 is already upon us. Reflecting on the past year, I am proud to say that we are on track to reach our growth goals we set out to obtain, we had a great year for professional development, and we received a number of accolades recognizing our strength and stability, including our debut on the prestigious Top 100 list of top accounting firms in the country by INSIDE Public Accounting. 2019 was quite a success. These accomplishments are a reflection of us as a team, and speak volumes to our philosophies, expertise and client service. As we tie up the year, it is important to remember that we are not just the #1 advisor to our clients at crucial points in time – but all year long. I hope you all can make our Holiday Party on December 19th to celebrate a job well done. It’s always a great night to relax, enjoy one another outside of the office, and to celebrate all of our hard work. You deserve it, and I look forward to seeing you there!

Joseph A. Damiano


Joseph Damiano


HUMAN RESOURCES

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

Senior Tax Associate | Clifton | 10.28.19

Jennifer Han

Senior Tax Associate | Clifton | 10.28.19

Briana Pisauro

Talent Acquisition Specialist | Clifton | 10.28.19

Daniel Sanchez

A&A Associate | Clifton | 11.05.19

Julia Goldshlag

A&A Associate | Clifton | 11.05.19

Rouba Rached

Entry Level A&A Associate | Clifton | 11.11.19

Ethan Grubman

Entry Level A&A Associate | Clifton | 11.11.19

Michael DeBenedetto

Entry Level A&A Associate | Clifton | 11.11.19

Russel Peachman

Entry Level A&A Associate | Clifton | 11.11.19

Raul Gutierrez

Entry Level A&A Associate | Clifton | 11.11.19

Jessica Ramos

Entry Level A&A Associate | Clifton | 11.11.19

Daniel Lubat

Entry Level A&A Associate | Clifton | 11.11.19

Alan Grajeda

Entry Level A&A Associate | Clifton | 11.11.19

Paige Zawislak

Entry Level A&A Associate | Clifton | 11.11.19

Andrew Blahut

Entry Level A&A Associate | Clifton | 11.11.19

Edward Gonzalez

Entry Level A&A Associate | Clifton | 11.11.19

The following employees are no longer with the firm. We wish them the best in their future endeavors. Michael Mikhail Josh Darsan Noushin Chowdhury

Account Service Associate | Clifton | 11.14.19 IT Intern | Clifton | 11.27.19 Admin Intern | NYC | 11.27.19


BUSINESS DEVELOPMENT RECENT WINS - A/O 12.03.19

TOTAL WINS YTD

TOTAL RECURRING WINS YTD

$4,504,625

$3,314,975

NEW CLIENT WINS

ENGAGEMENT TEAM

1. Bel Canto NPRC, LLC 2. Medi-Tech International Corporation 3. Jyoti Yoga & Healing, LLC

Joshua Chananie & Jason Borofsky Joshua Chananie & Joe Shannon Melissa Setzer

4. Lowy's Moving Service

John Murphy & Joshua Chananie

5. Asaadi Plastic Surgery

Michael Mongelli & Sue Reed

6. Guardian Capital Partners 7. Insurance Design Administrators

Michael Mongelli & Todd Polyniak Sue Reed & Todd Polyniak

8. Ferrero USA Inc.

Chris Gaffney

9. Center on Addiction

Todd Polyniak

10. North Star Aviation, Inc. 11. Chemisys Laboratories, LLC 12. Paterson Education Fund

Joe Shannon & Megan Sartor Debbie Nappi Joshua Chananie


FIRM NEWS

Todd Polyniak has over 30 years of indepth auditing, accounting and advisory experience which led him to lead Sax's Notfor-Profit Practice, Transaction Advisory Practice and A&A Department. He also leads Sax's Pathway to Success Program and Innovation Committee.

Jefferson Zotamba is an A&A Associate here at Sax and became a full-time team member after he successfully completed his internship at the firm and proved to be a valuable member of the team. He is currently working towards his CPA license and looks forward to improving his skillset to advance at Sax.

Read more about Todd & Jefferson in our Q&As here.


2019 INDUSTRY UPDATE EVENTS

Real Estate Industry Update | November 7 | Park Avenue Club

On November 7, we held our annual Real Estate Industry Update event and gathered with over 100 industry professionals to take a 360-degree look at the current state of the market and the main issues impacting the tri-state area. Our expert panel discussed the current status of business incentives and future expectations, the impact of Opportunity Zone Funds and investor opportunities, and the growth of the industrial market. The aim of the event was to arm attendees with a meaningful understanding of the current landscape so they stay informed in order to stay ahead of the changing times.


M&D Industry Update | November 12 | Stony Hill Inn

On November 12, we held our Manufacturing & Distribution Industry Update and gathered with over 70 industry professionals to explore current trends in the industry, obstacles professionals in the sector face, and where the market is headed. Attendees walked away with meaningful insights and leading practices to help their companies navigate the changing industry.

15th Annual Banker's Breakfast | November 14 | Hanover Marriott

On November 14, we held our 15th Annual Banker's Breakfast and brought together over 80 professionals in the banking industry to discuss the current state of mergers and acquisitions. Our panel, including Joe Damiano, discussed what acquirors look for in target companies, where deals go bad, and what the key components to a successful, long-term acquisition are.


Healthcare Industry Update | November 19 | Upper Montclair CC

On November 19, we held our Healthcare Industry Update that addressed Private Equity in Healthcare which has doubled over the past 10 years. The panel discussed what an arrangement with PE looks like, how to prepare for a deal, the importance of due diligence and compliance, and how to maximize a practice's value.

Construction Industry Update | November 21 | Stony Hill Inn

On November 21, we held our Construction Industry Update and brought together over 130 industry professionals to discuss the current and future state of the market. Our panel went into detail about the top concerns in the industry, union vs. non-union trends, the impact of the new tax law and more.


ANNOUNCEMENTS | REMINDERS

Floating Holiday and Volunteer Day Reminder

Employees of the firm receive one Floating Holiday and one paid Volunteer Day to be used by the end of the year. These apply to all new hires that started prior to July 1. Floating Holidays and Volunteer Days do not carry over.

We will be closing the office at 3pm on Tuesday, 12/24 and Tuesday, 12/31. Please charge your time to service code #9132, Firm Approved Events, after 3:00pm.

Holiday Office Closure

If you are using a PTO day on 12/24 and/or 12/31, you must charge 7.5 hours to PTO. The office will be closed on Christmas Day (12/25) and New Year's Day (1/1). Please use code #9801, Holiday.


ANNOUNCEMENTS | REMINDERS

Congratulations to all who participated in the Celebrations Around The World Challenge! Thank you for choosing to participate and taking some time for yourself to improve your body and mind!

The winners are: THE SOLE CRUSHERS! Keysha Kennedy

If you didn’t make it this time, sign up for the next challenge and try to improve your standing. Anytime is a great time to get active!

Annette Marzigliano

Patrick Brady

Yan Yu

Sax members Sandra Tufaro, Elizabeth Dwyer, Megan Sartor, Jennifer Moroz and Schoenstani Gil used their Volunteer Day to visit Oasis - a Haven for Women and Children on Nov. 26 to serve a holiday meal to neighbors in need.


ANNOUNCEMENTS | REMINDERS

THANK YOU to everyone who spent time on the new class on-boarding, specifically those listed below for their time and dedication to training our entry levels:

IT Team Virginia Dennerlein & the Admin Team Michael Rolls & the Finance Team

Debra Karacsony Jennifer Tosi Elena Klarberg Chris O'Keefe Jason Fleischer

Josh Weinberg Angelo Straface Michael Amoresano Schoenstani Gil Ivonne Rayo

Joe Damiano, Stu Berger and Sue Reed visited the Child Life Department at St. Joseph's Children's Hospital to present them with the $106,000 check we raised through our 4 Miler at Garret Mountain event. Sax was given a "Thank You" plaque, made by the pediatric patients, with each bead symbolizing every $1,000 we raised to support them. Check it out in the 3rd floor lobby of the Clifton office!


ANNOUNCEMENTS | REMINDERS

Healthy Living Reimbursement information must be submitted to HR by Dec. 13 for payout in the Dec. 31 payroll. This is in addition to the reimbursement through Oxford. For further information, please reference our Employee Handbook.

Peggy Tilles presented at the NJCPA's Annual Tax Seminar held at Bergen Community College on Saturday, November 2. Her topic was "South Dakota v. Wayfair: What's Next?". The presentation went great with a lot of interest and feedback from the audience!


ANNOUNCEMENTS | REMINDERS

Sax once again participated in Family Intervention Services' annual Thanksgiving Food Drive and collected food and household items for children and families who need them during the holiday season. We are happy to support such a great cause and thank you to everybody who donated!

Sax members Ivonne Rayo, Jennifer Moroz, Candy Gordon-Geanoules, Megan Sartor, Sharon Bleibtreu, Shivani Jain, and Elena Klarberg gave a panel discussion called "The Road to Professional Success" for Sax's P.O.W.E.R. Group. The women shared their personal stories and experiences on their journey to their current positions and provided tips to best reach professional goals.


ANNOUNCEMENTS | REMINDERS

Candy Gordon-Geanoules, Stu Berger, Natasha Appiah, and John Beckerle represented Sax at the Builder's Association of Northern New Jersey's (BANNJ) Beefsteak dinner.

Sax sponsored Helpful Hands' Casino night. Sharon Bleibtreu represented the firm at the event to support family-centered early intervention services.


ANNOUNCEMENTS | REMINDERS

The NJCPA’s Bergen Chapter is looking for scholarship candidates. Applicants must be a current college accounting major who has completed 24 credits or the equivalent of one year (but less than 150 credits); must be enrolled in school as of September 2020; must live or attend school in Bergen County; and may not have received scholarship assistance covering FULL tuition. For more information or to obtain the scholarship application, please reach out to George Charne. Applications must be submitted by December 10, 2019.


EMAIL RETENTION POLICY

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


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.


NEW Q4 INITIATIVE Limit your energy use! We are encouraging all members of Sax to be mindful of energy saving techniques. This includes logging off your computer at the end of the day, and turning off monitors and lights – at both your desk/office and in our conference rooms.

Why Save Energy? When we consume less power, we reduce the number of toxic fumes released by power plants, conserve the earth’s natural resources and protect ecosystems. By taking steps to reduce energy intake, you’ll contribute to a healthier and happier world.

Q3 INITIATIVE REMINDER Limit our use of water bottles! Remember to use your new reusable, insulated water bottles Sax gifted to all employees instead of water bottles or plastic cups. Only guests should use the small water bottles moving forward.

Any ideas to help our Green initiative?! Email us at gogreen@saxllp.com


We invite you to help less fortunate Paterson families and children by donating new and unwrapped gifts and/or nonperishable food items for children 3-12 years of age. With your contributions, we can help many Paterson children and families have a wonderful and joyous holiday season. Collections will be taken in the Clifton Office's 3rd floor kitchen

December 5 - December 18 Please contact Cheryl Papay at cpapay@saxllp.com if you have any questions or would like to make a cash/check donation.


TEEN & TWEEN COLLECTION DRIVE The Arc of Essex County's Home Assistance Program serves low income families that have a loved one with intellectual and/or developmental disabilities. Each year, there is a call for donations to help make their holiday a little brighter. This year, the focus is specifically on tweens and teens, ages 10-18. Many holiday programs like Toys for Tots focus on children under the age of 10. We are hoping that your donations can help these teens also have a wonderful holiday. Suggested Donations for GIRLs: Nail or hair accessories Lotions and beauty supplies Hat/scarf/glove set Gift Cards

Suggested Donations for BOYs: Basketballs Footballs Professional Sports items Gift Cards

Collections will be taken in the Clifton Office's 3rd floor kitchen

December 5 - December 11 Please contact Cheryl Papay at cpapay@saxllp.com if you have any questions or would like to make a cash/check donation.


PRESS ROOM

Todd Polyniak was a featured participant in Crain’s New York Business’s Private Equity Roundtable, “Thriving in the Evolving Private Equity Space”. He discussed how PE firms and portfolio companies are adapting to a swelling private equity industry in a unique trade climate.

Read the Roundtable here.

Maria Plucinsky was featured in the newest issue of NJCPA Magazine in an article titled, “Navigating the Changing Role of the Nonprofit CFO” that includes tips to address challenges amid shifts in tax policy and finding alternative ways to obtain revenue. Read the article here.


ANYTHING TO ADD? Email marketing@saxllp.com

Profile for Sax LLP

November 2019 BUZZ  

The latest and greatest happenings at Sax.

November 2019 BUZZ  

The latest and greatest happenings at Sax.