2020 May-June BUZZ

THE BUZZ

MESSAGE FROM OUR MANAGING PARTNER

Team – Believe it or not, we are almost at the half-way point of 2020, and it’s certainly been one for the books. I’d like to take this time to acknowledge all that we have accomplished so far this year.

Accounting Today has ranked Sax #98 on their list of top accounting firms in the country and #19 on their list of top Mid-Atlantic firms. Sax Wealth Advisors was listed #29 by Accounting Today on their "Wealth Magnet" rankings of the Top 150 Firms by Assets Under Management, making “The Billion Dollar Club” and moving up three spots from last year. Sax was also recognized by Forbes Magazine as one of “America’s Best Tax Firms” and recently named to Construction Executive’s list of The Top 50 Construction Accounting Firms in the country.

These are national achievements alongside many of our prominent peers, and something we should be truly excited about.

We are still moving along well in our extended tax season which has surely brought about a number of unique challenges for us and all other accounting firms. This adversity has been a true test of character, strengths and weaknesses and we have undoubtedly rose to the occasion. I attribute this to the team we have in place and our commitment to exceeding our clients’ expectations as their number one advisor. I believe this is what sets us apart from many other firms. Keep up the great work!

With regards to the status of our offices, as stated in my recent email, the Clifton and Empire office leases will not be extended, and we have started the process of having team members move their belongings out of those respective offices.

All team members who can perform 100% of their job remotely will remain working from home, and I wish to thank our CSAs who will be working in the Clifton office throughout our transition to our new office space.

For Clifton team members, the process of physically moving out has begun, and will be completed before July 31. This move out will be on a staggered schedule, and you should have already received an email with your individual packing date. If not, please contact Virginia Dennerlein directly.

For our New York offices, all Empire office team members will soon join our team at our Madison office location, and you should have already received an email with your individual packing date. If not, please contact Virginia Dennerlein.

Our Pennington Office will remain closed until July 1, which may be revised based upon guidance from Governor Murphy.

Sax has made a commitment to take a measured approach on our own timeline to ensure the health and safety of our people, clients and communities in alignment with federal and state government and health agency guidelines.

In addition, Governors Murphy and Cuomo have started to ease stay-at-home orders and many of our clients will be looking for us to start the process of returning to their places of business to function as their number one advisor.

Even though we have not officially opened any of our offices for business, our Returnto-Work Task Force has been developing policy and protocol recommendations to open offices and return to client sites in a manner that continues to protect the health and safety of our people while recognizing the additional challenges some of our people will face. Please read our return to office and client site guidelines here.

If you should have any questions about these guidelines, please do not hesitate to contact Sharon Bleibtreu or myself.

As always, I thank you for your dedication to Sax and all that you do on a daily basis.

Joseph A. Damiano

BUSINESS DEVELOPMENT RECENT WINS (April 27 - June 9)

TOTAL WINS YTD

TOTAL RECURRING WINS YTD

$1,722,500

$1,234,000

NEW CLIENT WINS

ENGAGEMENT TEAM

1. Christopher Cordaro

Megan Sartor

2. Suburban Orthopaedic Medical Center, LLC

Debbie Nappi

3. Norwescap

Todd Polyniak

4. JDRV, LLC

Kathleen Alexander

5. Fourteenth Street Corp

Kathleen Alexander

6. Shixan Yang 7. New Leaf Development, LLC 8. Triple C Housing 9. AP Tenants/Cobble Condominium 10. Independent Referral Consultants, Inc. 11. American Carpet South 12. Toufayan Bakery of Florida, Inc 13. BLDG Management Co., Inc.

Megan Sartor Ermal Luzaj Todd Polyniak Jeff Roude Kathleen Alexander Frank Centrella Tod Christianson Mike Curry

HUMAN RESOURCES

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

Beth Newton Greg Lewis Chris O'Keefe Rosemarie Perry

Receptionist | Clifton | 5.15.20 Business Services Support | Clifton | 5.15.20 A&A Manager | Clifton | 6.9.20 CSA | Clifton | 6.12.20

COVID-19 RESOURCE CENTER

Now is the time to help our clients prepare for the road to recovery. With changes constant and released guidance ongoing, lean on Sax's Resource Center to stay in the know with the most recent updates.

LOAN PROGRAMS

TAX ALERTS

BUSINESS RESOURCES

WEBINARS

NJ, NY UPDATES

Upcoming Webinars

CFO Focus Technology Transformation

View the Invite

Wednesday, June 17 @ 10:00 - 11:30 AM Speakers: Carl Van Dusen

COVID-19 Recovery Update Loan Options & Forgiveness Strategies View this week's Invite

Every Thursday @ 10 AM Speakers: Joshua Chananie, Todd Polyniak & Stephen Ehrenberg

View All Recorded Webinars

ANNOUNCEMENTS | REMINDERS

Adam Holzberg's grandfather, Jack Holzberg, beat COVID-19 at 94 years old! He is also a survivor of the Holocaust.

Watch the video of Jack Holzberg being released from CareOne Physical Therapy and read all about his story HERE.

Here are Sax team members enjoying a virtual Happy Hour led

by Michael Rolls and Matt Goldstein where everybody had to "Guess That Baby Picture"!

Congratulations to April Kushner and her husband who welcomed their new baby girl, Alivia, on May 20th weighing 8 lbs 4 oz and 20 inches long. We wish them the best!

ANNOUNCEMENTS | REMINDERS

Congratulations to Partner, W. Michael Curry on being selected to serve as a board member for the NYC Chapter of the CFMA. He now serves on the Board of Directors for both the NJ and NYC chapters of the CFMA.

Carl Van Husen, our new partner with S2 Technology Solutions, contributed to an article by ROI-NJ regarding pandemic-related security issues.

Read the full article here.

Kevin Sohr was recently interviewed by ROI-NJ in an article regarding the repercussions businesses may have when employees are working from home in another state.

To read the article, click here.

ANNOUNCEMENTS | REMINDERS

The first virtual CFO Focus titled "Post Pandemic: What to Expect When You're Expecting to Re-Open" was held on May 27.

Watch the recording here.

Sax's P.O.W.E.R. Group partnered with St. Joseph's Health for a webinar on common and not so common risk factors that affect women and their cardiovascular health.

Watch the recording here.

Sax's SharePoint Intranet homepage holds information related to COVID-19 and 2020 Tax season events and presentations.

SAX SHOUTOUTS

We'd like to recognize and say THANK YOU to a few team members who have put extensive time in helping the firm get ready for the new RSM “ORB” Caseware workpaper roll-out.

Matthew Goldstein

Agata Majdanska

Jefferson Zotamba

Daniel Sanchez

Julia Goldshlag

May Anthony Joseph, CPA Anthony began working for the firm in November of 2017, and was recently promoted to Tax Manager in July of 2019. His main responsibilities include preparation, review and revisions of tax returns and he proudly serves on the firm’s Innovation Committee. Anthony also leads training programs that cover topics related to current tax law changes for more inexperienced team members.

Al Traverso, CPA Al began working for the firm in September of 1996 and plays a strong role in the firm's Notfor-Profit and Manufacturing & Distribution niches. His responsibilities include advising clients with any issues or challenges they may be facing. Al strives to continuously bring value to his clients by being their trusted advisor.

Read more about Anthony and Al in our Q&As here

Top 5 Walkers Congratulations to our Top 5 Walkers and to everyone who participated in our walking challenge!

Walker

Steps Maggie Krowka

653,951

Gayle Boeckstiegel

612,095

Sophia Thomas

606,683

Kyle Stawicki

606,030

Michael Rolls

596,395

Retirement Update: Schedule a time to discuss your 401(k) account 401(k) statements have been sent out to employees participating in the SAX LLP Savings and Investment Plan.

With significant fluctuations in the markets since the onset of COVID-19, you may have questions about how your 401(k) account has been impacted.

While we are not in our offices, the team at Sax Wealth Advisors are still available to support you.

As a participant in the plan, you can always contact us to discuss your retirement plan portfolio and the options available to you. We encourage you to reach out for an individual conversation about your account. While everyone’s situation is different, we can help you to better understand your portfolio and the important long-term questions to think about during this time and for the future.

To make reaching Sax Wealth Advisors about your retirement plan easier, we have created a new e-mail address: retirement@saxwa.com Please utilize this e-mail address for any questions you have or to schedule a one-on-one conversation. To reach out directly to the team for any retirement plan related items, please contact Joe Piela or Eric Seidman.

COMMUNICATING WITH CLIENTS THROUGH SAX'S TECHNOLOGY

As we all adjust to the current work situation, here is a quick reminder of the technology Sax utilizes to communicate with our clients:

Delivers returns securely to individuals allowing for e-sign of 8879s Delivers returns securely to businesses and allows for downloading, signing, and uploading e-file authorizations, and the convenient distribution of K-1s Utilizes personal identification and security links to access (no passwords to remember) Automatic reminders for voucher payments

Don’t forget! Send signed 8879s to efile@saxllp.com

APP ¡ Allows clients to send us information using just their cell phone. No need for scanners!

Employees have the ability to send and receive faxes using email.

Certain personnel have a link in their email signature giving clients an easy, secure way to send files to the firm ShareFile also offers the ability to securely send files back to client Great alternative for those who are challenged by the portal

CLIENT PORTAL Client Flow - Easiest way for the firm to send multiple documents directly from GFR to the client, especially helpful when a single signer has responsibility for multiple entities. These documents have no expiration.

File Exchange - A method for clients to send us information, and we can send back to them. These documents expire after 14 days.

As you can see, Sax is always looking for more efficient and effective client communication. If you would like more information or a refresher on any of these topics, please reach out to Virginia Dennerlein.

10 TIPS FOR WORKING FROM HOME

1. Bandwidth The faster, the better. Many residences can now get 1 GB connections for around $70 per month. Generally, this is faster than at the office, with multiple users sharing bandwidth. Granted, there are areas where these kinds of connections aren’t possible, but do the best you can

2. Connection Use hard-wired connection to mazimize speed and avoid disruptions. A direct connection to your router is usually best. This is especially important when using video conferencing.

3. Lighting On video calls, eliminate lights that are directly behind you. Front lighting is best, especially if it lights up your face. There are even lights that attach to your monitor for those who want to look their best.

4. Background Provide a pleasant background and position the camera properly. Systems like Zoom allow users to set up various virtual backgrounds. This can be entertaining as well as eliminate views of your home you don’t want to share with others.

5. Microphone Buy a microphone, headset or combination that provides quality audio.

Apple systems tend to have quality microphones and speakers.

6. Camera

10 TIPS FOR WORKING FROM HOME

Positioning is critical, and we recommend eye-level positioning. The first mistake many people make when using a laptop is to position the screen so you can view it. Often, the camera focuses on your ceiling. Place the camera so you are in the center of the screen. It’s best to have your head one to two inches from the top of the screen.

7. Mute or Stay Open This is a bit controversial, as the answer sometimes depends on the surroundings in which people work. Background noise is annoying and disruptive. New users tend to forget they are on mute, and then the meeting is disrupted. It depends on the situation, and some brief training can pay dividends. The host or administrator can control participants’ audio and video from their console.

8. Interruptions It is best to not have participants look at their phones or try to multitask during a video conference. This can be eliminated with clear agendas and a designated meeting leader. This allows those who were not in attendance to quickly view important information and decisions.

9. Use a Desk Avoid sitting on the couch or in an easy chair. Be in work mode and use a desk chair.

10. View Set your video conference on “Gallery view” so you can see all participants and any documents being shared. Most meetings have two to five people, yet businesses are conducting “all hands” meetings regularly. The multiple monitor feature is also advisable. You can even break the larger meetings into breakout groups.

WEBINAR TESTIMONIALS

"I would like to thank you for your weekly webinars‌.I have found them most helpful and informative" - David, Karnak Corporation

"Thank you so much for your continuing coverage of this topic, we have found your webinars extremely helpful!"

-Moira, Good Grief

"I have watched a few of your webinars and want to thank you SO much for your updates and for your help. I have forwarded links to your webinars to some of our customers."

-Vicki, A to Z Plumbing and Heating

"Thank you for creating these valuable seminars. They are perfect in length and never boring."

- Leslie, Clifton Endodontics

"I want to congratulate the firm on the great job that is being done to guide our clients through all the challenges that dealing with COVID19 has presented. The firm's approach has been consistent, comprehensive, and presented at the highest professional level."

- Marc, Sax Senior Advisor

"I just wanted to reach out and say thanks for all of your efforts. You all have been putting out amazing information that has been extremely helpful. I'm thankful I subscribed to your mailing list and really appreciate your efforts in mining all of this information."

-Justin, Orthapedics Plus

"Thank you for following up on my question I sent on the webinar. I didn't expect to receive a written response let alone a phone call. It is very much appreciated."

- Marce, Kushner Studios

Sax WFH Photos

Maria Plucinsky

Deb Karasony

Felicia Jackson

Gayle Boeckstiegel

Helena Lynch

Carolyn Conforti

Adam Nelson

Deloris Maple

Deloris Maple

Sax WFH Photos

Stephen Ehrenberg

Alan Isaacs Vicki Hochman Vicki Hochman

Tod Christianson

Ryan Alexander

Karen Fox Martino

Jeff Mucha

Lisa Meyers

Sax WFH Photos

George Livanos Rob Syme getting a virtual cooking lesson from Mike Amoresano

Kathleen Rutch

Keysha Kennedy

John Murphy

Kathleen Alexander

Yan Yu

Sax WFH Photos

Breana Maher

Eric Seidman

Megan Sartor

Maggie Krowka

Randy Natoli

Margaret Henn

Shivani Jain

Ivonne Rayo

Sax WFH Photos

The winner of the $50 Amazon gift card is...

CAROLYN CONFORTI!!!

Don't forget to join our

MONTHLY VIRTUAL HAPPY HOURS Led by Michael Rolls and Matt Goldstein STAY TUNED FOR MONTHLY DATES AND THEMES If you have a suggestion for future happy hour themes, email your idea to marketing@saxllp.com

ANYTHING TO ADD? Email marketing@saxllp.com