News
July 21, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Cassia DeFrank has become a member of the Forensic CPA Society and is now authorized to use the FCPA designation after her name. This lets the public and business community know that she has met certain testing and experience guidelines and is not only a CPA and CFE, but has been certified as a Forensic Certified Public Accountant.
July 19, 2010
The Nisivoccia & Company LLP Annual School Board Conference was held on July 13 and July 19 at the Mt. Arlington offices. Participants included school board clients from around the state. Conference topics included: Current accounting updates for school districts, Reading and understanding your CAFR, How to be prepared for your audit. Presenters included partners Francis J. "Bud" Jones, CPA, RMA, PSA, Kathryn L. Mantell, CPA, RMA, PSA, Heidi Wohlleb, CPA, RMA, PSA and principal with the firm, Valerie Dolan, CPA
July 16, 2010
Nisivoccia & Company LLP held a seminar on July 16, 2010 for county administrators and grant coordinators. Nisivoccia partners and professional staff helped educate county clients on how to account for grant funds especially those recently awarded through the American Recovery and Reinvestment Act.
June 23, 2010
Kathi Mantell, a partner with the firm, was an honoree at the 16th Annual 2010 Sussex Tribute to Women awards dinner held in June 2010. Kathi was chosen by the Boy Scouts of America for exemplifying loyalty to four ideals — duty to God, country, others and self. The award also recognizes women who not only do things for the youth in the community, but also serve as role models.
June 4, 2010
Partners Kathi Mantell, CPA, RMA, PSA and Francis J. “Bud” Jones, CPA, RMA, PSA hosted a clinic titled “Understanding your Audit – Schedule C-1 and ReCap of Balances” during the New Jersey Association of School Business Officials 48th Annual Conference held June 2 – 4, 2010 in Atlantic City, New Jersey.
The clinic, developed by Kathi and Bud, was designed to help Business Administrators understand and explain their audit to board members and the general public. It was also classified as a Continuing Professional Education Credits (CPE) course and offered to CPAs.
Both Kathi and Bud have over 25 years of experience in school district auditing and have developed many programs for School Business Administrators and Board Members. Bud heads the firm’s audit services division while Kathi heads the school industry audit division. Together, they have made a major contribution to the growth and service of the firm’s more than 60 school district and county college clients.
May 27, 2010
Founder and Partner, Raymond Nisivoccia, was elected for a two year term to the Worldwide Board of Directors of BKR International. BKR International, ranked among the top 10 accounting associations by the International Accounting Bulletin, is a leading global association of independent accounting and business advisory firms representing the expertise of more than 145 member firms with over 300 offices in over 70 countries around the world.
May 27, 2010
Stephen Van Houten, Director of Human Resources, was presented with the BKR International Chairman’s Award for his outstanding leadership and dedicated service to the Americas Region of BKR International. Stephen is also an active member of the BKR International Human Resources Practice Group.
May 25, 2010
Raymond Sarinelli, a partner with the firm, presented the results of the Government Accounting Office (GAO) Auditor Rotation Survey during the BKR International Americas Meeting held May 21-25, 2010 in San Diego, CA. As a member of the BKR International Governmental/Not-for-Profit Accounting and Auditing practice group, Raymond explained the result of the survey indicated that it was not cost effective and increased potential risk of audit failure to implement an Auditor Rotation program.
BKR International is a leading global association of independent accounting and business advisory firms representing the expertise of more than 135 member firms with over 300 offices in over 70 countries around the world.
May 19, 2010
On May 19, 2010, members of Nisivoccia & Company LLP participated in the rebuilding of the Imagination Station children’s playground at Horseshoe Lake in Succasunna. Originally built 19 years ago by the community and volunteers, children designed a new playground to be built in its place. The new design will allow children of all abilities to enjoy the park for years to come. In addition to building the park, Succasunna also wanted to re-create the fun and experience of community volunteerism that built the original playground. Community volunteers stepped up to the challenge of working together, having fun and completing the park in just five days. The official ribbon cutting ceremony was held on Sunday, May 23, 2010.
Volunteers from Nisivoccia & Company LLP included partner Marcia Geltman and staff members Linda Costanzo, Deirdre Hartmann, Leslie Thomas, David Van Herwynen and Steve Van Houten.
At Nisivoccia & Company LLP, we pride ourselves in giving back to our communities. Through a profound compassion to help others, we actively encourage participation in philanthropic activities with community based not-for-profit and charitable organizations.
May 15, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Managing Partner Christopher P. Lynch, CPA, PSA, was reelected to the Newton Memorial Hospital Board of Directors for a one year term. Chris has been an active member of the Board of Directors since 1993 and is a former Chairman of the Board. The Newton Memorial Hospital Board of Directors consists of volunteers who devote countless hours and energy supporting Newton Memorial Hospital.
May 10, 2010
Marcia Geltman, a partner with the firm, presented 'Where will Mom and Dad Live?' on May 10, 2010 to an interested group organized by one of our clients. Marcia’s presentation focused on managing elder care and included types of beneficiaries, ways to reduce estate tax, benefits of credit shelter trusts and the facts about the gift tax.
April 22, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Lou Nisivoccia, founder and managing director of Nisivoccia Consulting LLC, addressed the St. Matthew's Church on Protecting Yourself from Identity Theft.
April 21, 2010
2010 brings many new tax incentives
New Jersey Appliance Rebates – New Jersey will implement an instant and mail-in rebate program for those individuals replacing older inefficient appliances with new, efficient Energy Star qualified models. There are also rebates available for oil or propane boilers and furnaces and propane storage or tankless water heaters purchased after February 1, 2010. Rebates for refrigerators, clothes washers, dishwashers, central air conditioners, air source heat pumps, and ground source heat pumps began on April 1, 2010. Larger rebates can be received by recycling the old appliances. Rebates may be offered for a limited time only and will run out when the funds run out. Total funds available $8,331,000. More information can be found at www.energysavers.gov.
Credit for small businesses providing health insurance coverage - Many small businesses and tax-exempt organizations that provide health insurance coverage to their employees now qualify for a special tax credit. The maximum credit is 35% of premiums paid in 2010 (25% for employers of tax exempt organizations). The credit is available to employers that pay at least half the cost of single coverage for their employees and that have fewer than 25 full-time equivalent employees paying wages averaging less than $50,000 per employee. The maximum credit goes to those employers with 10 or less full time equivalent employees paying annual averages wages of $25,000 or less. The credit is claimed when filing your income tax return. (Procedures for claiming the credit will be provided for tax exempt organizations) Because the credit uses the term full-time equivalent employees and not the actual number of employees, it is possible to have more than 25 employees and still qualify for the credit. It is important to note that self employed individuals (including partners in partnerships and 2% or more owners of S-corporations) and their families are not considered employees for the purpose of calculating the credit. More information can be found on the IRS website www.IRS.gov.
New Hire Act – There are two tax incentives related to the New Hire Act. The first is a tax forgiveness of the employer’s share of social security tax (6.2%) for qualified employees hired between February 4, 2010 and the end of the year. A qualified employee must not have worked more than 40 hours during the 60 day period ending on the hire date. The new employee cannot displace a current employee unless the other employee separated from service voluntarily or for cause. Individuals related to the employer do not qualify. Public Sector employers, other than colleges and universities, do not qualify for this credit. Any available credit for the first quarter 2010 payroll should be claimed as a reduction in tax on the second quarter 2010 payroll. Note that employees eligible for the New Hire incentives will not be eligible for the Work Opportunity Credit which is a more significant credit but applies only to qualified veterans and qualified summer youth employees. Therefore, an employer may choose to opt out of the New Hire Act incentives in order to benefit from the Work Opportunity Credit.
The second incentive is a $1,000 tax credit (per employee) for employees who qualify above and who remain on the payroll for at least 52 consecutive weeks. (The credit may be less for employees earning less then $16,200.) The employees must be paid at least 80% of their first 26 weeks wages during the last 26 weeks of the 52 week period. More information can be found on the IRS website www.IRS.gov.
April 19, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Lou Nisivoccia, founder and managing director of Nisivoccia Consulting LLC, addressed the Mt. Olive Rotary on Protecting Yourself from Identity Theft.
April 15, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Lou Nisivoccia, founder and managing director of Nisivoccia Consulting LLC, has been appointed to the Mt. Olive Economic Development Committee.
April 7, 2010
Disaster victims in New Jersey qualify for tax relief
IRS has announced on its website that due to the recent severe storms and flooding, counties of New Jersey and an additional county in Rhode Island are designated as federal disaster areas qualifying for individual assistance and disaster victims have more time to make tax payments and file returns. Certain other time-sensitive acts also are postponed. This article summarizes the relief that's available and includes up-to-date disaster area designations and extended filing and deposit dates for all areas affected by storms, floods and other disasters in 2010.
Who gets relief. Only taxpayers considered to be affected taxpayers are eligible for the postponement of time to file returns, pay taxes and perform other time-sensitive acts. Affected taxpayers are those listed in Reg. § 301.7508A-1(d)(1) and thus include:
- any individual whose principal residence, and any business entity whose principal place of business, is located in the counties designated as disaster areas;
- any individual who is a relief worker assisting in a covered disaster area, regardless of whether he is affiliated with recognized government or philanthropic organizations;
- any individual whose principal residence, and any business entity whose principal place of business, is not located in a covered disaster area, but whose records necessary to meet a filing or payment deadline are maintained in a covered disaster area;
- any estate or trust that has tax records necessary to meet a filing or payment deadline in a covered disaster area; and
- any spouse of an affected taxpayer, solely with regard to a joint return of the husband and wife.
What may be postponed. Under Code Sec. 7508A , IRS gives affected taxpayers until the extended date (specified by county, below) to file most tax returns (including individual, estate, trust, partnership, C corporation, and S corporation income tax returns; estate, gift, and generation-skipping transfer tax returns; and employment and certain excise tax returns), or to make tax payments, including estimated tax payments, that have either an original or extended due date falling on or after the onset date of the disaster (specified by county, below), and on or before the extended date.
IRS also gives affected taxpayers until the extended date to perform other time-sensitive actions described in Reg. § 301.7508A-1(c)(1) and Rev Proc 2007-56, 2007-34 IRB 388 , that are due to be performed on or after the onset date of the disaster, and on or before the extended date. This relief also includes the filing of Form 5500 series returns, in the way described in Rev Proc 2007-56, Sec. 8 . Additionally, the relief described in Rev Proc 2007-56, Sec. 17 , relating to like-kind exchanges of property, also applies to certain taxpayers who are not otherwise affected taxpayers and may include acts required to be performed before or after the period above.
The postponement of time to file and pay does not apply to information returns in the W-2, 1098, 1099 or 5498 series, or to Forms 1042-S or 8027. Penalties for failure to timely file information returns can be waived under existing procedures for reasonable cause. Likewise, the postponement does not apply to employment and excise tax deposits. IRS, however, will abate penalties for failure to make timely employment and excise deposits, due on or after the onset date of the disaster, and on or before the deposit delayed date (specified by county, below), provided the taxpayer made these deposits by the deposit delayed date.
In New Jersey, the following are federal disaster areas qualifying for individual assistance on account of severe storms, flooding, mudslides and landslides beginning on Mar. 12, 2010: Atlantic, Bergen, Cape May, Essex, Gloucester, Mercer, Middlesex, Monmouth, Morris, Passaic, Somerset, and Union counties.
March 26, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that the company volleyball team played on March 26th in the 9th Annual Newton Rotary Gift of Life Coed Volleyball Tournament at Sussex County Community College. Each coed team consisted of four men and two women. Format was double elimination. Our team had a lot of fun but did lose both matches and were eliminated after the second match. Thanks to Partner Kathi Mantell for hosting and taking the team out afterwards. The "Gift of Life" program will help provide necessary heart surgery to save the life of a third-world child.
March 16, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Lou Nisivoccia, founder and managing director of Nisivoccia Consulting LLC, addressed the Mt. Olive Area Chamber of Commerce on Protecting Yourself from Identity Theft.
March 15, 2010
Kathi Mantell, Partner, was the keynote speaker at the New Jersey Association of School Business Officials (NJASBO), Union County meeting held in Garwood, New Jersey, March 2010. The NJASBO is a professional association comprised of individuals who administer or supervise a variety of operations within the school district such as accounting, budgeting, data processing, environmental issues, food service management, maintenance, negotiations, payroll, purchasing and transportation. The event was attended by school business officials and administrators in the county.
In her presentation, “Financial Strategies for Year End”, Kathi focused on tactics for reading and understanding financial statements for a responsible year end. Discussions also included planning for the upcoming school year and anticipated budget reductions. Kathi has been with the firm’s public entity practice for over 25 years. She oversees the audits of local municipalities, county governments, county colleges, public libraries, joint insurance funds, municipal authorities and school districts within New Jersey.
February 18, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Lou Nisivoccia, founder and managing director of Nisivoccia Consulting LLC, addressed the Randolph Area Chamber of Commerce on Protecting Yourself from Identity Theft.
February 16, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Marcia Geltman, a partner of the firm, addressed the Mt. Olive Area Chamber of Commerce on Sales Tax: What Every Business Should Know.
January 21, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Marcia Geltman, a partner of the firm, addressed the Randolph Area Chamber of Commerce on Sales Tax: What Every Business Should Know.
January 1, 2010
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce the following promotions: Valerie Dolan to Principal, Cassia DeFrank to Supervisor, and Christopher Perrotta to Supervisor.
December 1, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that the firm once again adopted families for the holidays. For the last few years, with the guidance of Family Services of Morris County, the firm has adopted two families in need of assistance and purchased presents for them. The money for these presents comes from contributions from our N&C family and the partnership itself. Employees have been generous with monetary contributions and the time spent shopping for and wrapping the presents. Besides presents, each year we have been able to provide our families with gift certificates to a local Shop Rite or A&P.
November 25, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that just prior to Thanksgiving, employees at our firm donated items and funds to assist the Community Soup Kitchen. Seven backpacks were filled with specific items requested by the Soup Kitchen along with two big boxes of food.
November 21, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that on Saturday, November 21st, employees from Nisivoccia & Company LLP took part in a Habitat for Humanity build in Morristown.
October 27, 2009
Nisivoccia & Company LLP seizes new opportunities to help clients prosper at the dawn of the global recovery
Nisivoccia & Company LLP, a leading accounting and business advisory firm in Mt. Arlington NJ met with fellow financial professionals in New York City from 24th – 27th October. Christopher Lynch, Raymond Nisivoccia, Raymond Sarinelli and Timothy Mehaffey were joined by nearly 200 delegates representing 90 independent accounting firms from around the world. The speakers and discussions focused on the diverse political, economic, and financial issues relating to businesses worldwide and the challenges and opportunities within the global marketplace in these turbulent times.
“It is important to us that we are able to offer our clients advice that will help them thrive in the competitive and ever-changing global marketplace,” said Christopher Lynch the firm managing partner “In order for our clients to prosper outside the United States, we must be able to advise on legislative and business issues worldwide. The BKR annual conference had a truly global perspective and provided invaluable information on the particular issues that face all businesses involved in cross-border activities.”
In addition to international taxation and legislation issues, delegates discussed how global M&A activity will impact their clients, trends in partner compensation and buyouts, and how to clarify competitive difference with price-conscious prospects and clients. Firms worldwide are seeking solutions to recover from the devastating global economy and establish a strong market position for the next wave of growth.
The four day agenda also incorporated a broad range of technical and management topics that gave pro-active advice on high impact marketing, technology trends, foreigners doing business in the U.S., and how international accounting standards will impact the profession. Keynote speaker and guest was Dr. William Freund, Chief Economist Emeritus with the New York Stock Exchange, who gave a powerful message on the state of the U.S. financial system and what’s ahead for the global economy.
“For all BKR member firms, the need to provide clients with expert and up-to-the-minute information on worldwide business issues is essential,” said Bob Rothenberg, chairman of BKR International and senior partner of London chartered accountants, Blick Rothenberg. “Our partners must be able to advise their clients on where the best opportunities exist, even if it is outside their home territory. This year’s BKR annual conference clarified the current landscape of global business and how we, our businesses and our clients, are impacted by the global economy. Now more than ever, it is essential that our business decisions are made with a global perspective, while always ensuring that our profession sends a message of credible and independent expertise to the business world.”
October 24, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Ray Nisivoccia, a partner of the firm, has been elected to the Board of Trustees of Centenary College in Hackettstown, New Jersey.
October 10, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Bob Charlton, a partner of the firm and an employee since 1988, helped organize the Bike On Old Mine Road event which is in its second year. This ride took place on October 10th and benefits the United Way of Sussex County. There were about 110 riders who biked anywhere from 28 miles with rolling hills to 68 miles which included a one mile vertical ride. The tour started in Newton and went out as far as the Delaware Water Gap Recreation Area. Bob did complete the 68 mile ride.
October 1, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Eric Fernandes published an article "You, Too, Can Pass the CPA Exam" in the New Jersey Society of CPA newsletter.
September 17, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Lou Nisivoccia, founder and managing director of Nisivoccia Consulting LLC, has been honored as Business Person of the Year by the Mount Olive Area Chamber of Commerce.
September 1, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Ray Sarinelli, a partner of the firm, has recently been appointed to the Registered Municipal Accountants Executive Board. He has been a Registered Municipal Accountant (RMA) since 1980. Ray is celebrating his 34th year of service with Nisivoccia & Company LLP this year. He is also licensed as a Certified Public Accountant (CPA), and a Public School Accountant (PSA). Ray is Series 7, Series 66 as well as Life and Health Insurance licensed.
August 27, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Marcia Geltman, a partner of the firm, was a guest speaker on Hackettstown radio station WRNJ talking on taxes.
July 15, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Kathi Mantell, Heidi Wohhleb, Bud Jones, and Valerie Dolan hosted seminars on July 9, 2009 and July 15, 2009 for school board officials on how to prepare for the audit.
June 18, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that the firm is a major sponsor of the CASA of Morris and Sussex Counties Golf Outing on June 18th. The event is being held at the Wild Turkey Golf Course at Crystal Springs Resort. Dominick Sarinelli, a Partner in the firm of Nisivoccia & Company LLP, serves on the Board of Directors of CASA of Morris and Sussex Counties. He became its Treasurer on July 1st. CASA, which stands for Court Appointed Special Advocates, is a national organization of volunteers that judges appoint to speak for the safety and well-being of abused and neglected children that are in the court system.
April 15, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Ray Nisivoccia, a partner of the firm, completed his 50th tax season. Ray joined the accounting profession in 1959 right after graduation from Seton Hall University.
March 3, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Bob Charlton, a partner of the firm and an employee since 1988, has passed the 2008 Accredited in Business Valuation examination. This is an important milestone in the process of becoming an ABV. To finalize certification from the AICPA, Bob has to complete a Credential Application documenting his experience and lifelong learning. The process should be completed by mid-year. Bob is a CPA and a Certified Valuation Analyst (CVA).
February 17, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Dominick Sarinelli, a partner of the firm, addressed the Mt. Olive Area Chamber of Commerce about recent tax law changes.
February 16, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that John Cassells has joined the firm as a Principal.
January 1, 2009
Nisivoccia & Company LLP, a regional accounting and consulting firm, with offices in Mt. Arlington and Newton, New Jersey, is pleased to announce that Marcia Geltman, Dominick Sarinelli, and Anthony Rispoli have been promoted to Partner.