News (All)

Malafi featured in Newsday’s “Small Business: Wage Issues Employers Should Keep on Their Radar as They Reopen”

Posted: June 15th, 2020

By Jamie Herzlich, Newsday

The pandemic has shaken up the structure of many workplaces.

For many companies, it’s resulted in reduced workforces, changing roles and responsibilities for employees and salary reductions.

Given that, as companies reopen, there are wage and hour issues employers should be aware of including the possibility that some employees previously designated as overtime exempt no longer fit into that category.

Keep in mind the salary and duties test differs for those considered highly compensated white-collar employees. For 2020, these employees are considered exempt from overtime if they make at least $107,432 and perform certain functions, says Christine Malafi, a senior partner at Ronkonkoma-based Campolo, Middleton & McCormick LLP. See https://tinyurl.com/htnrp8m for duties.

Malafi advises employers to “review classifications as you hire employees back.”

Separately, employers also need to make sure they are properly tracking hours especially if some employees will remain remote, says Malafi.

Consider that if hourly employees check their work emails outside of working hours, even if told not to, or forbidden to do so, they are still entitled to overtime pay, she says. To help with that, employers might consider actually cutting off access to work emails and/or work VPNs after a certain time, she noted.

Read the full article on Newsday’s website.

CMM Strategies Presents Business Unusual: Transportation Navigation

Posted: June 10th, 2020

Event Date: June 30th, 2020

Has the COVID pandemic sounded the death knell of mass transit and other forms of shared transportation – or is this the opportunity the industry has been waiting for?

Transportation in nearly all forms has taken a devastating hit since March. Join us as Joe Campolo and Peter Klein welcome John Corrado, President of Suffolk Transportation Service, Inc. for a deep dive into the future of transit. The discussion will focus on how the sector is reopening, what the future looks like for riders, and the technology that can keep transportation moving forward including on-demand apps and “Uber-style” transit services.

Transit changes will have an extraordinary impact on the business community, real estate development, school districts, and the Long Island economy – empower yourself with the knowledge of what’s to come. As always, Joe and Peter will also discuss the latest business recovery updates.

Date: Tuesday, June 30
Time: 12:00 p.m. (note new time for this episode only)

Have questions for our speakers? Submit now to Lauren at lkanter@cmmllp.com or via the Q&A feature during the webinar.

Business Unusual: Real Estate Development Reimagined with Guest Jim Coughlan, Principal & Co-Founder of TRITEC

Posted: June 9th, 2020

June 9, 2020 – Episode 4 of Business Unusual Weekly Recovery Webinar with Joe Campolo and Peter Klein. In this episode, they welcomed Jim Coughlan, Principal and Co-Founder of TRITEC Real Estate Company. This episode focused on the real estate development sector – a key piece of Long Island’s previously booming economy. Now that the COVID pandemic has changed how we work, live, and play, how will the real estate development sector respond to changing needs?

Webinar: Paycheck Protection Program Flexibility Act featuring Christine Malafi

Posted: June 9th, 2020

Event Date: June 16th, 2020

On June 16, 2020 from 10:00 – 11:00 a.m., join Gettry Marcus, CPA, P.C. and CMM’s Christine Malafi for Part 3 of the webinar series on the recently passed Paycheck Protection Program Flexibility Act (“PPPFA”). The PPPFA greatly increases the likelihood of loan forgiveness.

This webinar will address PPPFA’s impact on earlier provisions of the PPP loan program, including the following:
• An increase in the Covered Period from 8 to 24 weeks, but no later than December 31, 2020.
• During the period February 15, 2020 to December 31, 2020, loan forgiveness will be exempt from a reduction in the number of FTE’s pursuant to additional PPPFA guidelines.
• To receive loan forgiveness, a borrower now must use at least 60% of the PPP loan amount for payroll costs and may use up to 40% for non-payroll costs (with possible “cliff” provisions).
• PPP loan terms can now generally range from 2 to 5 years, with the possibility of a longer 10-year term.
• PPP loan borrowers are now eligible for the CARES Act payroll tax deferral.
• Planning Tools
• SBA and Treasury Department Guidance
• Q&A

PROGRAM PANELISTS:

  • Lee Ferber, CPA, Partner at Gettry Marcus CPA, P.C.
  • Christine Malafi, Esq., Senior Partner at Campolo, Middleton & McCormick, LLP
  • Nicholas Backmann, CPA, Supervisor at Gettry Marcus CPA, P.C.

Register soon as we expect this webinar to close out!

CMM Strategies Presents Business Unusual: Infrastructure Investment

Posted: June 8th, 2020

Event Date: June 16th, 2020

Business owners: don’t miss our next “Business Unusual” webinar as Joe Campolo and Peter Klein discuss Long Island business recovery, the markets, and strategies to move forward productively. They will also welcome Rich Humann, President & CEO of H2M architects + engineers, to address infrastructure investment.

Investing in infrastructure is often viewed as the fastest way to boost economic growth by stimulating job creation and helping a battered economy recover. But COVID-19 has turned old rules and accepted wisdom on its head. Is infrastructure spending feasible and worthwhile in today’s new normal? Join us for a critical discussion about which projects are happening, which are paused, and which have been axed. We’ll address how stimulus dollars are being used, whether infrastructure spending can fill tax voids in the middle of a pandemic, and whether we can grow our way out of this crisis by investing in infrastructure.

Q&A is a critical piece of each episode, so bring your questions.

Date: Tuesday, June 16
Time: 11:30 a.m.

Have questions for our speakers? Submit now to Lauren at lkanter@cmmllp.com or via the Q&A feature during the webinar.

CMM Strategies Presents Business Unusual: Nonprofits & Business Associations

Posted: June 3rd, 2020

Event Date: June 23rd, 2020

Our reality is anything but business as usual. Join business leaders Joe Campolo and Peter Klein for our next webinar as they discuss Long Island business recovery and the markets. They will also welcome John Miller, President & CEO of Guide Dog Foundation and America’s VetDogs, and Terri Alessi-Miceli, President & CEO of HIA-LI, to discuss how nonprofits and business associations are moving forward.

Part of what sets Long Island apart is its vibrant nonprofit community and chambers of commerce. Over the past few months, the work of these organizations has become more important than ever. Join us to hear from Terri Alessi-Miceli about the critical role that 501(c)(6) business organizations, such as HIA-LI, will have in our economic recovery. John Miller, as head of national nonprofits, will address the challenges of operating on a national scale among a patchwork of differing state rules. We’ll also focus on the unique relationship between the business and nonprofit communities on Long Island and what we can expect to see as galas go virtual and nonprofits work to stretch their dollars.

Q&A is a critical piece of each episode, so bring your questions!

Date: Tuesday, June 23
Time: 11:30 a.m.

Have questions for our speakers? Submit now to Lauren at lkanter@cmmllp.com or via the Q&A feature during the webinar.

Campolo Moderates Discussion with County Executive Bellone

Posted: June 2nd, 2020

Event Date: June 17th, 2020

HIA-LI Presents: Critical Updates to Help Businesses Through the Coronavirus

Wednesday, June 17, 2020

10:30 a.m. – 11:30 a.m.

Zoom Webinar – space is limited to the first 100 registrants

The program is complimentary, but registration is required. Register here.

To submit your questions for the speakers prior to the webinar, email lkanter@cmmllp.com.

Malafi shares M&A Insights on Panel of XPX Long Island – “PeopleCo Manufacturing” Case Study

Posted: June 2nd, 2020

Event Date: June 12th, 2020

As XPX closes out their Long Island Chapter for the 2019/2020 session they will circle back to their case study and finalize considerations for the family and business. You can expect to learn:

* The journey to closing from an investment banking process

* How to get the right results from negotiating strategies

* Due diligence preparation and pitfalls – war stories

*What legal documents mean and the important role they play

DATE: June 12, 2020

TIME: 8:20 AM – 9:30 AM

PLEASE LOG IN EARLY TO BE READY FOR 8:30 START TIME


SPEAKERS:

Christine MalafiSenior Partner – Campolo, Middleton & McCormick, LLP

Gregg SchorChief Executive Officer – Protegrity Advisors

Jeffrey L. Bass, M.A., M.P.A. – Executive Strategies Group LLC

Jeff Stern, Principal – Eagle Business Solutions


About XPX Long Island

XPX is all about collaboration, learning and building relationships to serve our clients. XPX members are professional service providers who assist with business value growth, exit and succession planning, business value transfer, and business owner life and legacy. Assisting business owners through all stages of the company life cycle, XPX members put their clients first by collaborating as a team in order to provide clear, coordinated advice.