Of all the obstacles to success in accounting, accountants’ own fears may be one of the most important. Consultant Phil Whitman discusses the many ways the profession gets in its own way — and how to overcome them.
Join us for this CPE seminar presented by a panel of experts in the industry who will navigate the conversation on Mergers and Acquisitions in the accounting profession. These noted speakers will provide keen insight to help you better equip your decision making as you plan for the future of your firm.
Our very own Phil Whitman will share with you recommendations to make certain you monetize your lifetime of work – the essential of our SPEED program.
When: Wed. Jan. 25, 2017
Time: Breakfast and Registration at 8:30AM; Seminar begins at 9:00AM; Networking and Luncheon to follow
Where: 1 Penn Plaza 23rd Floor New York, NY 10119
RSVP: Kimberly Hooven Kimberly.Hooven@adp.com
One of the most far-reaching changes to Fair Labor Standards Act (FLSA) overtime regulations was about to begin effective December 1st.
This change doubled the threshold for exemption from overtime pay to $47,476. What’s more, the exemption would have automatically been adjusted every three years beginning in 2020. On November 22, 2016 a federal judge in Texas halted this change and put on hold a major initiative of the Obama administration.
At this time, employers do not need to implement the FLSA changes by December 1st. However, after hearing the full case, the court could allow the changes to move forward. On the other hand, the incoming Trump Administration will now have time to weigh-in on the overtime initiatives sponsored by the outgoing Obama administration. WBA’s Human Capital Services team will closely monitor this important development and keep clients appraised in the weeks ahead
Many employers have already implemented the new overtime regulations.
Undoubtedly, this can pose a problem for employers having to pull-back from overtime eligibility notices that were implemented over the past few months leading up to the effective date of December 1, 2016.
Employers will have to think about which approach will cause the least disruption to their workforce. Some employers may decide to keep the changes – if already implemented – and abide by modifications put forth the by the Trump administration, and made into law by the FLSA. Employers, who have not reclassified their employees for overtime purposes, would want to hold-off and keep a close watch on developments going forward.
Have you implemented any changes? How does this affect you, at this time?
Whitman Business Advisors LLC is pleased to announce that Albert J. Frazia, a former Talent Management executive at Baker Tilly Virchow Krause, LLP has joined the Whitman team of CPA industry experts.
The addition of Frazia on the Whitman team will broaden the firm’s client support with his focus on human capital growth and development, strategic workforce planning, regulatory compliance, and risk management.
Al, a well-established and highly diversified human resource professional, has helped many organizations realize the connection between high employee engagement and strategic success. Al has also provided specialized search and staffing services to CPA firms and business entities nationwide. Al’s counsel has been sought by senior leaders to guide them through challenging organizational issues and initiatives ranging from succession planning; nurturing future leaders, compensation, awards and incentives; benefit plan design and cost-savings; internal investigations; crisis management among other organization imperatives.
Prior to its merger with Baker Tilly Virchow Krause, LLP in 2012, Al was Chief Human Resources Officer for Holtz Rubenstein Reminick a leading New York regional CPA firm with offices on Long island and New York City. After joining Holtz Rubenstein Reminick in 2005, the firm’s workforce more than doubled in size. Moreover, during this period Holtz Rubenstein Reminick was recipient of numerous awards and citations about it’s working environment including “Best Place to Work on Long Island” (No.1)”, Best Companies to Work for in New York State” (six consecutive years.), and the Alfred P. Sloan award for Excellence in Workplace Flexibility awarded by When Work Works Foundation. Al was also a driving force in instituting the award-winning CARE Program at Holtz Rubenstein Reminick – an initiative designed to provide comprehensive coaching and career-guidance for professional team-members. The CARE Program was a recipient of the Best Practices Award by the American Psychological Association that recognized the top-ten workplace initiatives for organizations on both the U.S. and Canada.
Al has presented before groups including the Foundation for Accounting Education (FAE) and the Society for Human Resource Management (SHRM) on topical human resources issues. He is a member of the Executive Board and the Directors’ Forum for New York City/SHRM, and serves as VP-Finance and Treasurer for this large, local chapter of the Society for Human Resource Management.
Phil Whitman, President and CEO, shared “Al Frazia’s robust human resources background will help WBA to further increase the depth and breadth of our service offering to our expanding CPA firm client base. From consulting around human resources best practices and human capital optimization, I am sure Al will be instrumental in helping our clients with developing strategies to enhance the recruiting and retaining of talent, which continues to be the most critical issue facing firms of all sizes.”
In commenting on his joining WBA, Al stated: “WBA occupies a vital niche for the CPA firm community. Its’ commitment to helping CPA firms improve net income per partner through their six-pack of services makes WBA an extremely valued and unique resource. I am delighted to join WBA and its’ distinguished team of advisors, and play a part in WBA’s commitment to the CPA firm community going forward.”
David Wolfskehl, Director of Operations, shared: “Al’s addition to the WBA team is important in our mission to positively impact CPA firms. Talent is such an important area and having an expert with Al’s pedigree helping our clients is very exciting.”
FRIED & KOWGIOS PARTNERS LLP JOINS ITS PRACTICE WITH WITHUMSMITH+BROWN, PC
“We are excited about joining forces with Withum,” says Karen Kowgios, one of the founding and managing partners of FK Partners. “Since our inception in 2003, our primary focus has been to provide the best possible technical and personal service to our clients in the theatrical industry. This union enhances our ability to pursue this objective by offering our clients access to Withum’s significant breadth and depth of resources, giving us the opportunity to continue to even more effectively serve as a trusted advisor.”
FK Partners provides tax, accounting, audit, and consulting services predominantly to commercial and not-for-profit theatrical clients both domestically and abroad. The firm has extensive experience and depth in providing the theatrical industry and related producers, general managers, and lawyers the essential services that these entities need in order to operate effectively.
“We are thrilled to have the staff from FK Partners come on board,” says Michael Stallone, CPA, the partner in charge of the acquiring firm’s New York City office. “Their expertise in serving clients in the theatrical industry will nicely augment our current commercial and not-for-profit practice areas.”
*originally published on http://www.withum.com/2016/07/fried-kowgios-partners-llp-joins-practice-withumsmithbrown-pc/
Lean CPA M&A: Getting to the Finish Line Faster
Tuesday, July 19th, 1 p.m. to 2 p.m. ET
Philip Whitman, CPA, President & CEO Whitman Business Advisors, LLC
Join us for this free webinar presented by one of Inside Public Accounting’s 10 Most Recommended Consultants in the country who will navigate the conversation on Mergers and Acquisitions in the accounting profession.