Firm News

Evan Piccirillo contributes thought piece to New York Real Estate Journal

MELVILLE, NY - REM Tax Manager Evan Piccirillo, CPA's article “Pitfalls of the New IRS Interest Expense Limitation” appeared in the August 7, 2018 edition of the New York Real Estate Journal.

Evan provides tax and business advisory services to a diverse range of clients. With over fifteen years of experience serving the tax needs of commercial real estate owners and investors, Evan provides strategic advice on entity structuring, tax planning, and financing.

Evan is an accomplished author and public speaker. He lives with his family in Long Island, New York.


Michael Joy profiled in New York Real Estate Journal

NEW YORK CITY - Michael T. Joy, CPA is profiled in the most recent issue of the New York Real Estate Journal. Mike is the partner-in-charge of REM's Real Estate practice, the firm's largest industry area.

From a diverse accounting background, Mike leverages his broad audit experience to provide clients with forward-thinking financial and strategic advice. As a member of REM's Executive Board, Mike takes an active role in encouraging younger audit staff. He is highly regarded for his strong client relationships.


REM sponsors "Fresh to New York" event in NYC

 Brian Glavotsky, CPA (left)

Brian Glavotsky, CPA (left)

 Joseph DeMartinis, CPA (right)

Joseph DeMartinis, CPA (right)

NEW YORK CITY - Raich Ende Malter & Co. LLP was a proud sponsor of "Fresh to New York," a professional and social networking event for new NYC residents and established New Yorkers looking to learn more about top NYC professions.

Tax managers Brian Glavotsky, CPA and Joseph DeMartinis, CPA represented REM, answering questions about tax filing requirements for residents, the accounting profession, and tax planning for new New Yorkers on a budget. “It was a unique and fun atmosphere for people to mingle, and it was nice to be a good resource for people who are new to the area and need help getting established.”

The sold-out event took place July 11 at the WeWork Tower 49 in Midtown East.

Philip Ammirato joins Raich Ende Malter


Raich Ende Malter & Co. LLP (REM) is pleased to announce that Philip Ammirato has joined the firm as Chief Operating Officer. As a former senior vice president at several prominent regional and national banks headquartered in the New York metropolitan area, Mr. Ammirato has decades of experience overseeing the operations of financial institutions, including marketing, sales, human resources, internal accounting, and finance.

“Mr. Ammirato will focus on the future growth and stability of our firm,” REM’s Managing Partner Ellis Ende said. “Phil has been a friend of our firm for over 30 years. We are confident in his leadership and management experience. Phil’s presence will allow REM’s partners to focus on what’s most important: our clients.”

“For years in my previous capacity as a senior VP and banking professional, I had the pleasure of working with REM, as well as with many of REM’s clients,” Mr. Ammirato said. “It is gratifying now to be part of REM, overseeing its daily operations and leveraging my knowledge of the banking industry for the benefit of REM’s clients.”

Mr. Ammirato will be dividing his time among the firm’s offices in New York City, Long Island, and New Jersey.

Yasmine Misuraca article featured in CPA Journal

Yasmine Misuraca, CPA, CFE, Partner-in-Charge of REM's Forensic Accounting and Dispute Advisory practice, has a featured article in the current issue of the CPA Journal.

Over the course of her career, Yasmine has worked on many high profile cases. In her article, she discusses her background and why she was drawn to forensic accounting, as well as an inside look at some of her professional experiences.

Over the course of my career I have worked on a variety of high profile cases, including frauds involving household names and divorces that were the subject of television movies. Although each engagement is unique, the common denominator is that I’m still enthusiastic about every new one. There is nothing more satisfying than knowing you were part of a successful outcome for a client—and the truth.
— Yasmine L. Misuraca, CPA, CFE

The full article can be found here. Congratulations, Yasmine.

Future of Long Island CRE Summit

  Left to right: Evan Piccirillo, Jodi Bloom-Piccione, Amy Frushour Kelly, and John Kmetz.

Left to right: Evan Piccirillo, Jodi Bloom-Piccione, Amy Frushour Kelly, and John Kmetz.


REM is proud to have been a corporate sponsor for the "Future of LI CRE Summit," held in Plainview by the New York Real Estate Journal. Commercial real estate is a large part of REM's practice, and we take every opportunity to be involved in conferences and events to educate and inform owners, management companies, lenders, brokers, and others involved in real estate.

Michael Joy and Jodi Bloom-Piccione, partners and leaders of REM's real estate industry group, attended, as well as tax supervisor and REM Cycle editor Evan Piccirillo, communications manager Amy Frushour Kelly, and CMO John Kmetz.

REM launches ThinkLab for blockchain accounting

  (Left to right) Tyler Russell and Arthur J. DaPonte.

(Left to right) Tyler Russell and Arthur J. DaPonte.


FLORHAM PARK, NJ (April 18, 2018) – Prominent New York metropolitan area accounting and consulting firm Raich Ende Malter & Co. LLP (REM) is pleased to announce REM ThinkLab, an effort to provide thought leadership on blockchain accounting. As cryptocurrencies such as Bitcoin and Ethereum gain ground in global commerce, an understanding of blockchain, the digital ledger technology used to record cryptocurrency transactions, is essential for the accounting profession. To aid clients and colleagues in parsing this new tech, REM ThinkLab will publish periodic whitepapers, as well as thought pieces on The REM Cycle, Raich Ende Malter’s tax blog.

Considering the relatively recent technology involved, it is only fitting that this project is the product of the firm’s younger generation of staff. REM ThinkLab is helmed by Arthur J. DaPonte, CPA, and Tyler Russell, who have already co-authored a blockchain whitepaper, an illustrated blog post, and a comprehensive glossary of blockchain technology terms for newcomers. They are currently developing a CPE course on the topic and plan to take it on the road this summer.

DaPonte and Russell are confident that blockchain is ultimately a source of new business for accountants. “As industries harness the power of blockchain to become more efficient and effective in their operations, CPAs and auditors will play an integral role in providing the public with the assurance that these processes will require,” he said. Russell added, “We are very enthusiastic about the potential implications of these new technologies on our profession and strive to stay ahead of the learning curve.”

Cornelius V. Kilbane, Jr., Partner-in-Charge of the Firm’s New York City office, agrees. “At this point, everyone has heard of blockchain and how it will revolutionize the accounting industry, but with REM ThinkLab, we are actively examining the blockchain process and its applications. As always, Raich Ende Malter is looking to the future and embracing new technology.”

Raich Ende Malter Welcomes New Tax Principals

Prominent New York metropolitan area accounting and consulting firm Raich Ende Malter & Co. LLP (REM) is pleased to announce the expansion of its tax advisory and wealth preservation practices with the addition of two new tax principals.

 Johnpaul Crocenzi, CPA

Johnpaul Crocenzi, CPA

 Melissa Abbott, CPA, JD

Melissa Abbott, CPA, JD


Johnpaul Crocenzi, CPA joined the firm this week as a principal specializing in high net worth individuals and their businesses. With nearly 20 years of experience in tax-saving strategies and planning, Mr. Crocenzi advises clients on complex tax matters, estate planning, business succession planning, and transaction structuring.

The firm promoted Melissa Abbott, CPA, JD from senior manager to principal. Ms. Abbott specializes in tax compliance and planning for trusts, estates, and private foundations. She performs detailed research and analysis of complex tax issues for her high net worth clients, concentrating on fiduciary income and estate tax.

“High net worth individuals and their families, their businesses, and the private foundations they support comprise a large percentage of Raich Ende Malter’s client base,” confirms Ellis Ende, Managing Partner. “We are enormously pleased to have Mr. Crocenzi and Ms. Abbott on board as key members of our ever-growing tax advisory and wealth preservation team.”

Yasmine Misuraca joins REM as Partner-in-Charge of Forensic and Dispute Advisory


Prominent New York metropolitan area accounting and consulting firm Raich Ende Malter & Co. LLP (REM) is pleased to announce that Yasmine L. Misuraca, CPA, CFE has joined the firm as the Partner-in-Charge of its Forensic and Dispute Advisory practice. Ms. Misuraca has over 20 years of public and industry accounting experience and specializes in forensic accounting. Ms. Misuraca’s track record includes testifying on a large, high-profile case for the U.S. Securities and Exchange Commission, as well as working as a consultant for major law firms and privately-held companies. She will be located in the firm’s headquarters in New York City.

“Ms. Misuraca will focus on the growth of our firm’s forensic accounting practice,” REM’s Managing Partner Ellis Ende said. “Calculating and analyzing economic damages, conducting fraud investigations and forensic examinations, and analyzing financial issues as part of case strategy are what many attorneys, government agencies, and private clientele need from accountants. We are thrilled to have Ms. Misuraca on board at Raich Ende, and look forward to leveraging her expertise in this practice area.”

I’m excited to lead the Forensic and Dispute Advisory group,” Ms. Misuraca said. “Due to an increase in cases involving asset misappropriation, financial statement misrepresentation, and securities and regulatory compliance violations, our focus at REM will be to provide clients with the analysis and support needed to achieve positive dispute resolutions, as well as advising clients on how to take preemptive steps to protect their assets.”

REM donates backpacks, school supplies to displaced youths

  Joan Cardona

Forty-two homeless New York City youths are starting school this week with all-new backpacks and supplies, courtesy of Raich Ende Malter’s charitable/volunteer committee, REM-Co Cares.

 Patrycja Leszczynski tries a backpack on for size.

Patrycja Leszczynski tries a backpack on for size.

REM-Co Cares received word about the “Project: Back to School” drive through an email from Coalition for the Homeless, a not-for-profit focused on providing food, clothing, shelter, and many other services to the homeless. While the deadline was closer than expected (less than two weeks until school started!), REM employees jumped on board and immediately began gathering supplies and donations. Suzanne Anderson and Joan Cardona of REM’s Broadway office asked Coalition for the Homeless to extend the deadline slightly, and not only were they happy to oblige, they volunteered to visit the Broadway office to pick up the supplies.

 Amanda Rinaldo and Mike Meilak fill backpacks.

Amanda Rinaldo and Mike Meilak fill backpacks.

All three REM offices contributed to the effort, with employees purchasing supplies themselves or making monetary donations to help purchase supplies and backpacks in bulk. Even REM’s office suppliers, Weeks Lerman and Huntington Business Products Centre, donated some items after Managing Partner Ellis Ende suggested the idea. All supplies gathered in Long Island and New Jersey were shipped to New York City. On the day of collection, Joan began preparing backpacks, which were divided by grade level. Throughout the day, REM employees helped fill backpacks with school supplies, ranging from calculators to pencils and crayons to notebooks and binders. Ultimately, 42 were completed – 16 for early year students, 8 for elementary schoolers, 9 for middle schoolers, and 9 for high schoolers. In addition, REM stuffed another four boxes with extra school supplies.

For such a time crunch, REM did a fantastic job for a great cause. Sherry Conk, a bookkeeper in the Long Island office, especially enjoyed putting together supplies: “As a mother of two children, the youngest being a senior in high school, I miss going to the store and picking out school supplies like crayons and coloring books. This was a way to relive that and help out children who have trouble getting everything they need for a new school year.”

On September 5, Coalition for the Homeless picked up the completed backpacks and supply boxes from REM’s New York City office. The Coalition is distributing the backpacks and supplies this week to children in need in New York City.

Suzanne, Joan, and Sherry are on board to continue collecting school supplies for next year (hopefully on a less rushed schedule). Joan even plans to bake cookies to serve while employees stuff backpacks. Thank you to all who donated to Project: Back to School. You helped make a difficult time a little easier for these kids.

REM ranked in top 100 accounting firms


Raich Ende Malter & Co. LLP is pleased to announce our ranking among the top 100 accounting firms in America, according to INSIDE Public Accounting. The firm has maintained a strong presence on IPA lists for the better part of a decade.

The ranking is based on IPA's Survey and Analysis of Firms. Well over 500 accounting firms participate in this annual survey, providing in-depth financial and operational data to be compiled into the annual firm rankings released by IPA during August of every year. The IPA Top 100 is widely considered the gold standard for growth and profitability metrics within the accounting profession.

As always, our inclusion here is a source of pride, and we look forward to 2018.

REM in the News

An article by REM partner Elaine Fazzari appears in the most recent issue of New Jersey Business Magazine. Her article explains the benefits of using a combination of retirement plans, rather than a "one size fits all" approach. Companies may take advantage of significant tax savings while adding substantially to the owners' and employees' retirement funds.

Elaine is Partner-in-Charge of REM's Audit and Accounting practice, as well as the leader of our Employee Benefit Plan team.

REM at the "Future of Long Island CRE" summit

  Senior tax manager Patricia Evans, partner Michael Rosengarten, and tax supervisor Evan Piccirillo.

Senior tax manager Patricia Evans, partner Michael Rosengarten, and tax supervisor Evan Piccirillo.

Raich Ende Malter & Co. LLP joined the "Future of Long Island CRE" summit as a corporate sponsor yesterday in Plainview, New York. The summit was hosted by New England Real Estate Journal, and covered topics as diverse as tax laws, environmental regulations, and an overview of current market trends.

Real estate is REM's largest practice area, with 50 dedicated professionals covering commercial and residential real estate properties, management companies, and owners. Learn more about what we're doing in this area here.

REM volunteers are life-savers

IT Manager Fred Brown practices compressions while tax supervisor Joe DeMartinis observes.

HR coordinator Suzanne Schultz takes a turn.

During the week of May 17, staff members in REM’s Broadway, Long Island, and New Jersey offices received life-saving training. Those who volunteered for the three-hour course were trained to perform adult, child, and infant CPR; to properly use an automatic external defibrillator (AED); and to dislodge obstructions in choking victims and perform resuscitation (if necessary) in adults, children, and infants. Volunteers are part of the firm’s First Responder Team and are expected to respond should an emergency situation arise.

Proofreader Alex Barnett clears the area before administering a "shock" with the AED simulator device. Tax senior Dylan Brady stands clear.

“I’m personally very proud that so many of our staff members volunteer to join the First Responder Team,” says Barbara Weisbein, Director of Human Resources. “The program is partner-approved and staff-run. In addition to the life-saving techniques, the team is trained to take command, including crowd-control and post-EMT arrival. We plan and update our response protocols every year, and each member contributes to the discussion. A trained mind delivers a trained response.”

REM has offered the course to its employees since 2009. The firm absorbs the cost of the training and individual certifications (good for two years), as well as providing multiple AED devices and first aid kits in all REM locations.

Managing Partner Ellis Ende calls the training program a win-win. “I have to say, I have the greatest respect for our First Responders. Their level of compassion is amazing. And you can tell they’re doing it out of a sense of social responsibility, because so many of the same staff members stay on the team from cycle to cycle. We have wonderful people here.”

IT Manager Fred Brown is one of the firm’s original First Responders. He originally took the REM course in 2009. “It wasn’t the first CPR course I’d ever taken, but it was definitely more comprehensive than anything I’d learned before. One thing I like is that the material is always updated and expanded. We learn more every time.”

To date, the First Responder Team has never had to put its skills to use. Fred acknowledges that this is a good thing. “Obviously, it’s important information, and we should always be ready to act on it, but I’ve got to say, I’m glad it’s never happened here.”

Mets game day 2017

Take us out to the ball game...

On Tuesday, May 9, REM staff from our NYC, Long Island, and New Jersey offices came together to cheer on the New York Mets as they defeated the San Francisco Giants, 6-1. The event was organized by REM's Social Events Committee. Committee Co-Chairs Michelle Greco and Monica Lala (both from our LI office) thanked the entire committee for pitching in to prepare and coordinate logistics, with special thanks to audit manager Mike Meilak (NYC office), who was instrumental in making arrangements. The custom-printed REM Mets shirts were designed by tax supervisor Kosta Kokkosis (LI).

UPCOMING SEMINAR: Combating Tenant Fraud in Today's Real Estate Market

April 12, 2017 – Illegal sublets, AirBNB hostings, delinquencies – tenant fraud takes many forms. If a landlord suspects illegal occupation or short-term leasing is taking place, when and how is it advisable to initiate legal action? How can landlords prevent tenant fraud in the first place?

Raich Ende Malter & Co. LLP (REM) is hosting a seminar for landlords, attorneys, accounting professionals, and real estate professionals on tenant fraud, a serious issue for commercial real estate owners in the New York City metropolitan area. In this seminar, you will learn the basics of landlords' rights, the scope of tenant fraud, mitigating risk, and options for gathering evidence when legal steps are necessary. Speakers include attorney Michelle Maratto Itkowitz (owner, Itkowitz PLLC) and Mark Fogel, Chief Investigator for Forensic Private Investigations. Talks will be moderated by Larry Wilk, CPA, Partner-in-Charge of REM’s Real Estate practice.

Breakfast will be provided by REM. Registration is available online at                          

Seminar Title:    “Combating Tenant Fraud in Today’s Real Estate Market”

Event Date:        Monday, May 15, 2017

Location:            Conference Center, 175 Broadhollow Road, Melville, New York


Price:                   $20 per person

Contact:               Amy Frushour Kelly, Communications Manager
                    – 516-228-9000 Ext. 3252

About Raich Ende & Malter Co. LLP (

Raich Ende Malter (REM) is a regional accounting firm of distinction.  Headquartered in New York City, it is consistently ranked by independent industry surveys as one of the top 25 accounting firms in New York, one of the top 20 in the mid-Atlantic region, and one of the top 100 in the country.  REM provides forward-thinking audit, tax, and business advisory services to over a dozen industry sectors.  It serves businesses ranging from multi-generational family-run enterprises to publicly-traded companies, to organizations that serve the public good as not-for-profit organizations. REM has specialized practices in industries that are key to the economic makeup of New York City and its metropolitan region. These include real estate, financial services, manufacturing and distribution, and to those high-net-worth individuals residing in New York who help fuel and drive the local economy.  Through its affiliation with PrimeGlobal, REM maintains an international reach in 90 foreign countries.

REM ranked in top 100 accounting firms by Accounting Today

Raich Ende Malter & Co. LLP is pleased to announce our ranking among the top 100 accounting firms in America, as calculated by Accounting Today. REM also placed in the top 20 firms in the Mid-Atlantic region (New Jersey, New York, and Pennsylvania). REM has been firmly anchored in the top 100 for the better part of a decade.

Accounting Today ranks firms by revenue, both nationwide and in specific regions. Hundreds of accounting firms participate in this survey annually, providing in-depth financial and operational data for inclusion. The resulting lists provide a benchmark for gauging industry growth and operational trends.

As always, we find our inclusion here to be a source of pride, and we look forward to 2018.

REM hike in West Hills Park

On November 2, REM audit partner Glen Malings, an avid outdoorsman and leader of the Long Island Orienteering Club, led several of our Long Island staff members on a three-mile hike through West Hills Park, located not far from our Melville office. It was a beautiful day, and the hikers got to hone their map-reading skills.

Barry Wechsler quoted in Long Island Business News

Barry Wechsler, Partner-in-Charge of REM's Not-for-Profit practice, was interviewed in the 9/23-29/2016 edition of the Long Island Business News. Full text of the article below.

To contact any REM partner or principal for an interview or quote, please contact Amy Frushour Kelly at

New rules give more info to donors; could spark problems

By Claude Solnik

The Financial Accounting Standards Board has issued new financial reporting rules for nonprofits that should provide more information to donors, benefiting some groups and leading to potential problems for others. Lee Klumpp, director of BDO USA's Institute for Nonprofit Excellence, called this the ''biggest change to nonprofit financial reporting in more than 20 years." Manhattan and Melville-based accounting firm Marcum called the changes a "significant development for the industry," which last saw major changes in 1993. The new format for reporting takes effect for nonprofits with fiscal years beginning after Dec. 15, 2017. "They want to make more user-friendly financial statements," said Barry Wechsler, partner in charge of the nonprofit group at Raich Ende Malter & Co. in Melville and Manhattan: "I think it's going to make it more difficult for smaller nonprofits to report." While the Securities and Exchange Commission increased reporting requirements on public companies, nonprofits continued to disclose very little.

“It wasn’t providing the reader with enough meaning about what’s really going on behind the organization,” Barry Sackstein, a director in charge of not-for-profit and healthcare organizations at Marcum, said of nonprofits’ financial statements. “This is supposed to help the clarity of that.”

“It wasn’t providing the reader with enough meaning about what’s really going on behind the organization,” Barry Sackstein, a director in charge of not-for-profit and healthcare organizations at Marcum, said of nonprofits’ financial statements. “This is supposed to help the clarity of that.”

Groups of all sizes will now have to explain what portion of their budget is spent on programs, management and fundraising, much the way healthcare organizations must today.

"I think it will change where donors spend their money," Sackstein said. "It will break it down to a level comprehensible to someone who is an informed reader."

For the first time, donors will have a better sense of who's spending how much where, sending up red lags for some and leading to rewards for others.

 Barry Wechsler

Barry Wechsler

"It will basically allow people to determine whether they are giving to a not-for profit spending all its. Money on programs compared to one spending more money on general administrative and fundraising," Wechsler said.

Sackstein said this could be ''helpful and it can be painful for the organization" if it must spend a lot to raise a little more.

Groups also must show how they plan to meet their cash needs for their fiscal year, potentially leading some groups, facing uncertainty, into bigger trouble.

"Some organizations have already had enough information to respond to these," Sackstein said. "For organizations that-don't really know where their next dollar is coming from, it will have an impact. They're going to have to say how they'll survive for the next year."

Groups that can't show where their money will come from could face a "going concern" issue, indicating they may not be able continue past that year.

Nonprofits also must disclose if any of their endowment funds are underwater, defined as having less than the principal that a donor asked the group to maintain.

''We weren't really able to see that in the past," Sackstein said. "This is going to be a required disclosure."

This could lead to additional questions such as whether a group must replenish underwater funds.

''You may have donors saying, 'I contributed $2 million. What's it worth today?'" Sackstein said. "Some things can be helpful for an organization. They can also be hurtful."

Nonprofits sometimes take money from donations to meet emergency or immediate needs after they face unanticipated expenses, potentially leaving some funds under water.

If the state finds money wasn't spent appropriately, it may ask the nonprofit to return funds.

"If they give back that money, where do they get it from?" Sackstein said. ''Most of the time they don't have the arsenal of cash lying around. So they take it from donor-restricted dollars."

He also talked about an organization that derived a great deal of income from invested donations. After the stock market tanked, that stopped flowing in, forcing the group to take funds from other sources.

"They didn't have investments throwing off this income to support the losses," Sackstein said. "That may be the discussion organizations have, that they have to look at these endowments."

While some see more information as better, some nonprofits said it's already possible to get a wide range of information from income tax returns and groups such as GuideStar.

"If you're making large-scale grants, you have the tools you need,"' said Darren Sandow, executive director of the Hagedorn Foundation in Roslyn. 'We have tools, like GuideStar. We can look at anybody's 990s."

And he questioned whether donors who make small gifts would even seek additional information.

"People give because they want to support something they believe in. It's typically connected through their heart," Sandow said. "If somebody wants to give money to a dog shelter because they like dogs and cats, do you think they'll go through the Humane Society's 990s to give a $25 check?"

Although the new regulations have just been approved, accountants said most nonprofits aren't yet dealing with them.

Klumpp said, "Organizations should strongly consider acting early on the new guidance," rather than waiting until the deadline nears.

''This is an education process," Wechsler said. "It's going to be my job to start educating our nonprofits about the changes in these rules."

He plans to sit down .with his clients and make presentations to their boards about what new financial statements should look like.

''The boards have to be involved in understanding what's in the financials," Wechsler said. ''They need to be educated the way the clients need to be."

Klumpp said, "Boards count on financial statements and absolutely need to be a part of the process" of implementing the new reporting.

"It may prove to be a test of how well they can educate readers of their financial statements on what has changed and why," Klumpp said of groups.

Whether the new formats will provide more insight to donors depends, in part, on whether they look for it and use it in making decisions.

''My gut feeling is it's useful information," Wechsler said. "Even the individuals making the contributions have to be educated on this. It's new for everybody."

Sackstein said this is part one of a two-part implementation of changes with the next phase still in the works.

''It's supposed to be simplifying the financials," Sack stein said. "I would like to see them take things out that not-for-profit readers don't understand."

Nonprofits, for instance, must break down investments into various levels, which can be confusing, he added.