September 2012
Welcome Back!

Dear clients and friends,

Welcome back! We hope you had a fun and relaxing summer. As we approach our one-year mark as MayerMeinberg, LLP we would like to express our gratitude for your continuous support. We appreciate the referrals which have allowed our business the opportunity to grow. Commitment, dedication and hard work have been at the foundation of accomplishing goals we strived to reach in the merger. Most importantly, we have been able to create a business that encompasses integrity and trust, and is a firm that we are truly proud of.
 

We value your feedback and welcome your comments about our firm and how we can better service your professional needs.

 

Thank you again,

 

Robert O. Mayer & Mark L. Meinberg,
MayerMeinberg, LLP

 

Donna Zincone: Making Strides Against Breast Cancer

Donna Zincone Making Strides Against Breast Cancer
MayerMeinberg Senior Manager Donna Zincone, CNE is committed to making a difference in eliminating breast cancer for future generations and hopes others will join her in her efforts. Mrs. Zincone, an eight-year cancer survivor, is participating in the American Cancer Society's Making Strides Against Breast Cancer Walk on Oct. 21 at Jones Beach in Wantagh at 8 a.m.

 

"Making Strides is a powerful event - so many people coming out for the cause and the unfortunate bond that ties us all together," said Mrs. Zincone. "Beating breast cancer is empowering - and my appreciation of life is greater and those that fill my life more special."

 

Since 1993, 8 million walkers across the country have raised more than $460 million through Making Strides events to help fight breast cancer. Last year alone, dedicated supporters raised more than $60 million nationwide to help the American Cancer Society save lives.

 

Zincone, who has been participating in the Making Strides event for eight years, has raised $20,000 for the cause. "Jones beach is a beautiful spot - spiritual in a sense - being close to nature and walking with other survivors or friends and families who lost loved ones," she said. Continue reading

 

You can help support her cause by visiting her team site or contacting Donna at dzincone@mayermeinberg.com for more infomation.

NY Wage Deduction Expansion Signed

Governor Andrew Cuomo signed the legislation amending the severely restrictive deduction from wages prohibitions in the recently amended section 193. The amendment expands an employer's ability to deduct from its employees' wages in a number of cases in which the New York State Department of Labor had previously not permitted. For example, section 193 previously only allowed employers to deduct items such as wages for insurance premiums, bonds, pensions, and union dues. Under this amendment, employees can authorize wage deductions for the purchase of discounted parking passes, gym memberships, child care expenses, and a number of other exceptions as long as it is voluntary.

 

New regulations will go into effect on November 6th, 2012 and will expire on November 5th, 2015. Employers cannot change their practices prior to this date, however they can start to set up policies in which they can make deductions and modify them to remain consistent with the Labor Department rules.

Individual Tax Planning for 2013

 Late last year, Congress approved and President Obama signed legislation that extended the lower Bush-era tax rates for individuals - which were about to expire - through 2012. So when they expire this year the tax brackets return to the previous rates of up to 39.6 percent in 2013 from 35 percent now.

Continue reading
Estate Tax Planning for 2013

Much of the planning decisions will be based on whether current rates will continue, decline or increase in 2013.

 

The generation-skipping transfer ("GST") tax exemption could be limited. GST tax is imposed on transfers that skip a generation so upon death if the transfer skips a generation the GST tax will be payable on the value of the transfer at the highest estate tax bracket applicable in that year. Under current law, a person has a lifetime GST tax exemption ($5,120,000 in 2012) that can be allocated to all gifts in trust.

Continue Reading

Expanding Business Checklist for New York State
NYS Department of Taxation and Finance

New York State Businesses that are currently expanding can use the checklist provided by the New York State Department of Taxation and Finance to help comply with New York State tax law. Included are links, forms and information that might save your business time and money.  View checklist

 

 

New Sales Tax Web File

The New York State Department of Taxation and Finance has updated their Sales Tax Web File to make it more user-friendly and help taxpayers comply with the law and pay the appropriate tax. Improvements made will allow you to file late and amended returns, credit request applications, and save bank account information for future payments. Additional information that will be asked to be reported includes sales, credit and income information.

 

Some of the new reporting requirements may require you to change your recordkeeping or reporting systems so there will be a phase-in period during September 2012 through May 2013, in which returns that don't report the newly required information will be accepted. The new reporting requirements will be mandatory beginning with returns for filing periods beginning on or after June 1st, 2013.

 

Please visit NYS Department of Taxation & Finance for more detailed information or contact us to discuss this update.

Check Out Our Website and Social Media Pages!

 

We invite you to come and visit our website and social media pages.  We encourage you to like, follow, and join our social media efforts through asking questions, sharing an experience, and introducing us to your friends. We appreciate your business and value your involvement, let us know what you think, we'd love to hear from you.

              
               
Like us on Facebook  Follow us on Twitter  View our profile on LinkedIn
In the News

 Stuart Mayer, CPA, Partner

Quoted  in Long Island Business News - "CPAs Open to LGBT couples" 

 Mary Mooney, CPA, Partner

Partner Mary Mooney
Recognized  in Long Island Business News - Who's Who in Professional Women

Robert O. Mayer, CPA, 

Co-Managing Partner

Robert O. Mayer Co-Managing Partner at MayerMeinberg
Quoted in Long Island Business News - article on Lifestyle Management

Mark Goldschmit, CPA, 

Manager

Recognized  in Long Island Business News - Ones to Watch

Carol Markman, CPA, Partner

Carol Markman
Carol will be honored at the Planned Parenthood of Nassau County Luncheon. She will be receiving the Margaret Sanger Award. She  is currently the board  treasurer.
In the Community

Women's Fund of Long Island

Women's Fund of Long Island 
MayerMeinberg LLP is proud to be a sponsor for the Women Achievers Against the Odds Annual Awards Breakfast. The Women's fund invests in the power of women and the dreams of girls by working to bring about last social change. To learn more about the women's fund please click here.

NCMA: Long Island's Finest

Bob Mayer, Karl Willers, Mike Brown NCMA

MayerMeinberg LLP was pleased to participate as a sponsor at the "Long Island's Finest" event at the Nassau County Museum of Art in celebration of Long Island's top business leaders. We encourage the community to view the Marc Chagall exhibit on display until November 4th. More Information
Reminders

Please remember: 

 

Individual income tax returns for taxpayers that filed an extension are due Monday, October 15, 2012

 

Please contact us if you have any questions.  

Announcements & Events

CAI-LI Trade Show
 

MayerMeinberg LLP would like to invite you to attend the CAI-LI trade show on Saturday October 20th. The Long Island Chapter of Community Associations Institute serves the educational, business, and networking needs of Nassau and Suffolk county.

 

MayerMeinberg's Lois Clinco, partner, and Woody Goldstein, manager, will be giving a presentation on "The ABC's of Financial Statements for Boards."

Click here for more information

BDO Seidman Alliance
 

We are pleased to announce that MayerMeinberg LLP has become an independent member of the BDO Seidman Alliance, a nationwide association of independently owned local and regional accounting, consulting, business and technology firms sharing a dedication to exemplary client service. Read more

MayerMeinberg Seminar:

Board's Fiduciary Duties

 

Join MayerMeinberg as we discuss the board's fiduciary duties on a panel featuring MayerMeinberg employees and lawyers from the community.

  • November 8th 6-8 pm MayerMeinberg Panel with Michael Cohen, Esq.
  • November 15th 6-8 pm MayerMeinberg Panel with Marc Schneider, Esq.

Please contact:

Amanda Zyta (516)921-8900 -102

azyta@mayermeinberg.com for  more information.

Contact Reference Guide

 

Please keep this list close by to avoid waiting to be connected on the phone. Click to view

Mayer Meinberg
6900 Jericho Turnpike Suite 312 | Syosset, NY 11791 | Phone: 516-921-8900
14 Penn Plaza Suite 1011 | New York, NY 10122 | Phone: 212-631-9500