Traditionally, the drive lasts approximately six weeks and culminates in a ceremonial pick up at the office of Sheehan and Company.  This year the pick up is scheduled for Friday, December 9^th at 3pm.  The night before the pick up, several committee members and other volunteers meet for a fun night of shopping at a local toy store.  We all enjoy picking out those toys that we loved as a kid or would love to have now.  Then it is on to Sheehan & Company to arrange the toys for pictures and to make room for the remainder of the toys still to come.

Over the years, we have been extremely fortunate to have some of the most giving and charitable individuals, firms and businesses participate in our drive each year.  State Bank of Long Island and First National Bank of Long Island has graciously allowed us to display our boxes in their branches over the past several years and Sheehan & Company graciously provides its conference room and staff for the event each year.

Community service has always been a cornerstone of the Young CPAs Committee and coordinating the annual Toys For Tots drive each year is extremely rewarding.  All of the efforts of so many wonderful people each year are the reason that the drive is the success that it is.  Thank you to all who have participated and contributed over the years.  We look forward to the holiday season knowing that our efforts will make a difference to thousands of children this year.

If you would like to participate or donate a toy to this year’s drive, please do not hesitate to contact Cynthia Finn Barry at 631-665-7040.

If you’d like more information about this topic, or to schedule an interview with Cynthia Finn Barry, please call Lisa Beige at (631) 665-7040 ext. 346 or email Lisa at lbeige@sheehancpa.com

Contact:  Lisa Beige
Telephone:  (631) 665-7040
Fax:  (631) 665-7014
Email:  lbeige@sheehancpa.com

Kevin Ryan, JD, CPA and Cynthia Finn Barry, CPA, are partners at Sheehan & Company, a mid-sized Certified Public Accounting Firm in New York. They, along with John Caffrey, CFP, are contributors in the recently released book by Harlequin Press entitled Love for Grown-Ups: How to Marry for Life When You’ve Already Got a Life by authors Ann Blumenthal Jacobs, Patricia Ryan Lampl, and Tish Rabe.

Love for Grown-Ups delves into the reality of two older adults finding love and merging their long-established lives– from blending families, friends, and finances. The Sheehan & Company partners offer sage financial advice for any adult lovebirds looking to form a more perfect union.

“New couples need to talk about money and how they approach finances,” says contributor Cynthia Finn Barry. “Money plays an incredibly important role in any relationship. Pretending it’s not there and then combining lives is the biggest mistake a new couple can make. It’s all about conversation, understanding, and protecting what you’ve worked so hard to save.”

Love for Grown-Ups was released in August 2011 by Harlequin Books.

On July 21, 2009, the idea to start a fundraiser to benefit our U.S. military soldiers was brought up at the Young CPAs Committee meeting. The idea came after an email was received from a local mother of U.S. soldier PFC Christopher Kocsis, who expressed how scarce food and some toiletries were overseas. During the first two years we have collected everything from snacks and energy bars to soap and deodorant and successfully shipped almost 70 boxes of food, clothing, toiletries and other necessities our U.S. military soldiers need and deserve.

On August 1, 2011 the Young CPAs kicked off its Third Annual Treats for Troops drive. With September 11, 2011 being the 10^th anniversary of the attacks of 9/11, Long Islanders, New Yorkers and Americans came together to support our men and women doing their duty for our country, going in harm’s way and sometimes making the ultimate sacrifice. During the course of the leading weeks, news and support of the Treats for Troops drive extended as far as California and the response proved again, to be an overwhelming success.

On Friday, September 16^th, all items collected were brought to the Young CPAs networking event at “300″ in Melville. Items received included everything from candy, chips, crackers, hand sanitizer, shampoo, soaps, canned goods, word puzzles, toiletries, hand wipes, deodorant, energy bars, foot and body powder, toothpaste, undershirts, socks, etc.  The collected items were brought back to the offices of Sheehan and Company CPA PC, whose conference room temporarily resembled a small supermarket until the items were boxed and shipped the following week.

On Wednesday, September 21, 2011, thanks to the generous donations of firms, families, local business and their employees, we successfully shipped 54 large boxes, which are expected to be received overseas within the next few weeks.

We hope that the Treats for Troops program delivers more than just treats to local military personnel serving overseas and away from their families during the upcoming holiday season. For the U.S. soldiers serving overseas there is nothing like a taste of home. The care packages not only put smiles on faces but also seek to lift morale. This drive is about giving back to those who give all and show support and appreciation for the sacrifices the troops make for us, our families, and our future.

Marine Corporal Christopher Sarlo of the 1^st Battalion, 9^th Marine Regiment knows the value of a care package. The veteran, who was born and raised on Long Island, New York, lived in a combat outpost while serving two deployments in Iraq. He knows what it’s like to lose a friend in combat, knows how it feels to be close to an explosion, and he knows the deep relief and gratitude a pair of new socks can bring. On the front lines, soldiers can’t shower, can’t do laundry, and are often cut off from the basic necessities included in packages from home.

The committee extends their sincere appreciation to all the firms, families, local business and their employees for all the generous contributions and kindness towards our U.S. military soldiers deployed around the world. Special thanks to the Young CPA Committee members as well as the staff at Sheehan & Company for packaging and shipping all our collected items.

Items collected in Sheehan & Company conference room

For a map and directions click here.

IMPORTANT NOTICE TO EMPLOYERS
Regarding an Interest Assessment Surcharge in 2011

The recent national recession led to record high levels of unemployed workers receiving unemployment insurance benefits. As a result, since 2009 New York State has borrowed over $3 billion from the Federal Unemployment Insurance (UI) Trust Fund. The American Recovery and Reinvestment Act (also known as the Recovery Act) provided interest-free loans to New York and other states with insolvent Trust Funds during calendar years 2009 and 2010. Thus far, Congress has not extended the interest-free loan provisions into 2011. As it stands now, New York must pay approximately $95 million in interest on these loans to the federal government by September 30, 2011.

In order to pay the interest due for 2011 on these federal loans, New York State is required by state law to assess a temporary charge on employers, called an Interest Assessment Surcharge (lAS). Should Congress extend the interest-free loan provision, we will either credit your account or refund the money paid.

New York’s Interest Assessment Surcharge rate for 2011 is 0.25%. Each employer’s surcharge amount is determined by multiplying the total taxable wages in the most recently completed payroll year (October 1, 2009 through September 30, 2010) by the lAS rate of 0.25 percent. Therefore, the maximum amount that most employers will be assessed is $21.25 per employee. Payment of the lAS is due by August 15, 2011.

If you have any questions, please call the Employer Accounts Adjustment Section of the Ul Division toll-free at 1-888-899-8810.

The new law also maintains the income tax rates that have been in effect in recent years.  Employers are required to use the new withholding tables and to reduce the amount of social security tax withheld as soon as possible for 2011, but no later than January 31, 2011. For any social security tax over withheld during January, employers should make an offsetting adjustment in workers’ pay as soon as possible but no later than March 31, 2011.

If you have any questions, please contact your Sheehan & Company tax advisor.

Sheehan & Company offices:

230 Park Avenue, New York, NY 10169
Phone:  212.962.4470

165 Orinoco Drive, Brightwaters, NY 11718
Phone:  631.665.7040

15 South Bayles Avenue, Port Washington, NY 11050
Phone:  516.883.5510

Brian Michels Named Among Top 40 under 40

Brian Michels of Sheehan & Company, CPA, PC has been honored as one of Long Island Business News’ “40 Under 40.” Michels will be recognized and honored at the 13th Annual “40 Under 40” Awards Dinner on Thursday, January 27th.

Since 1998, The Long Island Business News has recognized outstanding members of the Long Island business community who are under the age of 40. The Long Island Business News believes their “40 Under 40” are Long Island’s future business leaders and people to watch. Members of the “40 Under 40” have a proven track record of career success, are involved in mentoring and promoting their profession, and find time to give back to their communities.

Michels is a supervisor at Sheehan & Company with over eight years of experience in auditing, assurance and tax services. He is an active member of the New York Society of Certified Public Accountants, as well as the Chairperson of the Young CPAs Committee.

Michels has been a business mentor for the Islip High School’s Career Seminar since 2007. He also speaks at various high schools and colleges to promote the accounting profession as well as the New York State Society of Certified Public Accountants (NYSSCPA).

In addition, Michels is involved in several philanthropic organizations including but not limited to: Toys for Tots, Treats for Troops, The Leukemia and Lymphoma Society, and the Cystic Fibrosis Foundation.

“We are very pleased Brian received the ’40 Under 40’ recognition, it is definitely well-deserved; Brian is a great member of our team and makes a large effort to be involved in the community,” - John DeFalco, Sheehan & Company Partner.

About Sheehan & Company, C.P.A., P.C.
Founded in 1955, Sheehan & Company is one of Long Island’s largest and most respected Certified Public Accounting and Consulting firms. Through steady growth and commitment to client success, the firm has become well known in the New York Metropolitan area. The firm’s three New York locations, with their solid technology infrastructure, have provided domestic and international clients timely, professional services for nearly five decades.

“Putting more money in the pockets of families most likely to spend it, helping businesses invest and grow — that’s how we’re going to spark demand, spur hiring, and strengthen our economy in the New Year.” — President Obama, just before signing the new law

After months of uncertainty and partisan arguing, Congress passed a wide-ranging law that provides relief to taxpayers from all walks of life. On December 17, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.

The new law solidifies many parts of the tax law that expired at the end of last year or were scheduled to expire on December 31, 2010. it will put extra dollars in the pockets of millions of Americans — money that politicians are hoping will stimulate the economy.

Here is a rundown of the significant provisions affecting individuals in 2011 (see right-hand box for business tax breaks).

1. Lower tax rates for individuals will stay in place. For 2011 and 2012, the Tax Relief Act extends individual tax rates at 10, 15, 25, 33 and 35 percent. Without the new law, rates were scheduled to increase to 15, 28, 31, 36 and 39.6 percent.

2. A new payroll tax cut will be created for 2011. Most working Americans will get a raise in their 2011 paychecks as a result of the new law. Regardless of an individual’s income, the employee share of the Social Security tax withheld from wages will drop from 6.2 percent to 4.2 percent up to the taxable wage ceiling of $106,800.

The extra amount employees will receive in their paychecks is expected to provide a boost to the economy. A single taxpayer making $50,000 a year will save approximately $1,000 in Social Security taxes. (The Social Security tax on self-employment income was also reduced by 2 percent.)

3. Favorable rates on capital gains and dividends remain. For 2010, long-term capital gains and qualified dividends are taxed at a maximum rate of 15 percent (zero percent for taxpayers in the lowest two brackets). The new law extends these low rates through December 31, 2012.

If Congress had not acted, the top rate on capital gains would have increased to 20 percent in 2011. Dividends could have been taxed at a rate of up to 39.6 percent

4. The estate tax comes back but at a more favorable exclusion amount and tax rate than expected. For 2011, the estate tax exclusion amount will be $5 million and the maximum estate tax rate will be 35 percent.

Background: A law passed in 2001 gradually increased the exclusion amount and decreased the maximum tax rate up until 2010, when the federal estate tax was repealed for one year only. In 2011, it was scheduled to come back with an exclusion of only $1 million and a maximum tax rate of 55 percent. So the new $5 million exclusion means that far fewer estates will be hit with estate tax.

The new law also makes changes to the gift tax, the generation skipping tax and the rules involving the tax basis of assets. We will detail these changes in future articles. In addition, the law provides new options for estates of individuals dying in 2010. Consult with your estate planning adviser because the new law has many implications.

5. The alternative minimum tax (AMT) patch is applied again. If Congress had not taken action, millions more individuals would have been forced to pay the AMT for 2010 and 2011. The two-year patch expands exemption amounts as follows:

• $72,450 for married joint-filing couples and surviving spouses for 2010 ($74,450 for 2011).
• $47,450 for single individuals for 2010 ($48,450 for 2011).
• $36,225 for married individuals who file separately ($37,225 for 2011).

Without the patch, the exemption amounts would have dropped to $45,000 for joint filers, $33,750 for singles and $22,500 for married individuals filing separately. Bigger exemptions mean less chance of being hit with the AMT.

6. The $1,000 child tax credit is extended. For qualified taxpayers, the $1,000 credit will be available through December 31, 2012. (It begins to phase out for taxpayers with adjusted gross income of $110,000 for joint filers and $75,000 for singles.) Without the new law, the child tax credit was scheduled to drop to $500.

7. A higher child and dependent care credit will still be available for two more years. If you have expenses for care of your under-age-13 children while you work, you may be eligible to collect a credit. The tax break is also available if you pay someone to care for an incapacitated dependent at home, such as a parent or spouse. The new law extends a higher credit for qualified taxpayers through December 31, 2012. For one dependent, the maximum credit is based on up to $3,000 of eligible care expenses. For two or more dependents, the credit base remains up to $6,000 of eligible expenses. The credit percentage ranges from a maximum of 35 percent to a minimum of 20 percent, depending on income.

Without the new law, the maximum credit base for 2011 would have dropped to $2,400 of eligible expenses for one dependent and $4,800 for two or more.

8. A better tax credit for higher education stays in place. There is good news for parents and students paying college tuition because the American Opportunity tax credit is now available through December 31, 2012.

Background: An earlier law renamed the Hope Education credit the American Opportunity credit, and made it more valuable for eligible taxpayers paying qualified higher education expenses. However, the American Opportunity credit was scheduled to expire at the end of 2010. Now it is extended for two more years. There are income limits. The credit begins to phase out for joint taxpayers when adjusted gross income reaches $160,000 ($80,000 for singles.)

A separate deduction for higher education tuition was also extended through 2011. However, you cannot claim the American Opportunity credit in the same year that you claim the tuition deduction. You must pick the most beneficial tax break in your situation.

9. The higher contribution amounts for Coverdell Education Accounts last another two years. An earlier tax law increased the amount you could put into a Coverdell Education Savings Account to $2,000 from $500. It also allowed the accounts to be tapped for elementary and secondary school expenses.

These tax benefits were scheduled to expire at the end of 2010. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act now extends them through December 31, 2012.

10. The “marriage penalty” is eased for another two years. Getting married can cause a couple’s combined tax bill to be higher than when they were single. An earlier tax law eased the marriage penalty by tweaking tax brackets for married couples and giving them bigger standard deductions. But the fixes were scheduled to disappear after 2010.

The new law extends marriage penalty relief through December 31, 2012.

11. The tax credit for energy-efficient home improvements is extended another year. An earlier law established a credit for 30 percent of 2009 and 2010 expenditures on energy-efficient insulation, windows, doors, roofs, and heating and cooling equipment in U.S. residences. The maximum credit allowed for 2009 and 2010 combined is $1,500. The credit, under Internal Revenue Code Section 25C, was scheduled to expire at the end of 2010.

Under the new law, the energy-efficient home improvement credit is extended through December 31, 2011. However, the credit percentage is reduced to only 10 percent and the maximum credit is only $500 reduced by credits claimed in earlier years. Credits for certain items are subject to dollar limitations.

12. The itemized deduction and personal exemption “phase-out” rules for big earners are repealed for two more years. Before 2010, higher-income taxpayers had their itemized deductions and personal exemption write-offs phased out when they reached certain limits. This means that they didn’t get the full benefit of the most popular itemized deductions such as mortgage interest, state and local taxes, charitable contributions, and miscellaneous deductions.

For 2010, the phase-out rules are gone but the rules were scheduled to reappear in 2011. The new law extends the repeal of these phase-out rules through December 31, 2012.

13. Unemployment benefits are extended for eligible individuals. Under the new law, emergency unemployment benefits will remain at their current level for 13 months.

Here are some other tax breaks for individuals that were extended under the new law:

• The annual tax-free employee benefit for up to $5,250 in employer-provided education assistance was extended through December 31, 2012. These assistance payments cover college and graduate school costs and the education does not need to be related to a taxpayer’s job.
• The deduction for qualified mortgage insurance premiums on a qualified home is extended for one year, subject to some limitations.
• Favorable rules involving student loan interest deductions, worth up to $2,500, are extended through December 31, 2012. Without the new law, there was scheduled to be a 60-month limit on deductible interest, and a stricter phase-out provision that would reduce or eliminate the write-off for many more middle-income taxpayers.
• The state and local sales tax deduction expired at the end of 2009. It has now been extended through December 31, 2011. This allows individuals who pay little or no state income tax the option of claiming an alternative itemized deduction for state and local sales taxes.
• The charitable contribution of IRA proceeds is extended through the end of 2011. Under this provision, older owners of individual retirement accounts (IRAs) can give to charity in a different way. An IRA owner, age 70 1/2 or older, can directly transfer tax-free up to $100,000 per year to an eligible charity. To qualify, the funds must be contributed directly by the IRA trustee to the eligible charity. Amounts transferred are not taxable and no deduction is available for the transfer. However, amounts transferred to a charity are counted in determining whether the owner has met the IRA required minimum distribution rules for the year. Your tax adviser can provide more information.
• Also included in the new law was an extension through 2011 of the tax break for charitable gifts of appreciated property for conservation purposes.
• The deduction for elementary and secondary teachers who spend money on classroom supplies is extended through December 31, 2011. The write-off, of up to $250 for out-of-pocket expenses to buy materials such as books, supplies, computer hardware, software and other equipment, is available even if the teacher doesn’t itemize deductions.

Business Tax Breaks:

• The new law doubles 50 percent bonus depreciation to 100 percent for qualified business assets. According to the Treasury Department, complete expensing could generate more than $50 billion in additional investment in the United States in 2011. This provision is available to all businesses, regardless of size for eligible assets placed in service between September 9, 2010 and December 31, 2011. For assets placed in service in 2012, 50 percent bonus depreciation will be available.
• The research tax credit is renewed retroactively. The valuable credit, which expired at the end of 2009, is extended through December 31, 2011. It is available to companies that introduce new products, improve current products, and develop or enhance their processes. (President Obama has asked Congress to make the credit permanent, rather than renew it periodically — often after it expires. The new law did not do this. It only temporarily extends the research tax credit.)
• The Work Opportunity Tax Credit is extended through December 31, 2011. The credit provides financial incentives for employers to hire workers from certain disadvantaged groups. In general, it is worth 40 percent of up to $6,000 of the worker’s eligible wages during the first year. Note: Two targeted groups, unemployed veterans and “disconnected youth” were not included in the extension.
• A larger tax-free fringe benefit for employer-provided transit passes is extended through 2011. The amount (adjusted for inflation) was $230 for 2010 but was scheduled to drop to $120 in 2011 without the new law.
• A tax credit for employers providing child care facilities is extended through December 31, 2012.

The new law also extends many other incentives for businesses involving energy, disasters and charitable contributions. For more information regarding your situation, consult with your tax adviser.

IRS Gives Employers Guidance on 2011 Withholding

Employers must quickly get their payroll systems in line to account for the two percent cut in the Social Security tax for 2011. Congress passed the new law with just two weeks for employers to make changes.
Shortly after the new law passed, the IRS issued instructions and new withholding tables.
Employers should start using the new tables no later than January 31, 2011, according to the IRS.
“For any Social Security tax over withheld during January, employers should make an offsetting adjustment in workers’ pay as soon as possible but not later than March 31, 2011,” the IRS added.

(This is just a brief description of some of the tax breaks included in the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. We will provide a more detailed look of some of the new law’s provisions in future articles. Please consult with us about your situation.)

Sheehan & Company Offices:

230 Park Avenue, New York, NY 10169
Phone: 212.962.4470

165 Orinoco Drive, Brightwaters, NY 11718
Phone: 631.665.7040

15 South Bayles Avenue, Port Washington, NY 11050
Phone: 516.883.5510

Even though New Year’s Eve is just around the corner, there’s still a little time left for year-end tax planning. If you move fast enough, a few eleventh-hour tax moves can cut your tax bill or increase a refund for the 2010 tax year.

Keep in mind that the “Bush tax cuts” are scheduled to expire December 31, 2010, thereby raising tax rates for some individuals in 2011. But a late reprieve from Congress could preserve lower rates for another year or longer. Until the uncertainty is removed, focus on what you can do now to reduce your 2010 liability.

Here are eleven tax strategies to consider:

1. Review your AMT status. You may owe the alternative minimum tax (AMT) if a complex calculation involving “tax preference items” and an exemption amount exceed your regular income tax liability. Consult with your tax adviser at year-end. Depending on your situation, you might defer certain items to avoid the AMT or accelerate income to benefit from a lower tax rate. Note: Congress is expected to “patch” the AMT by bumping up exemption amounts for 2010.

2. Balance stock gains and losses. Take advantage of tax rules for selling or buying stock. If you’re currently showing a net capital loss for the year, a capital gain from a stock sale realized at year-end is effectively tax-free up to the amount of the loss. Conversely, if you have a net capital gain, a year-end capital loss can offset the gain, plus up to $3,000 of ordinary income. And you can still carry over any excess capital loss to next year. (Friday, December 31 is the last day to sell a stock this year.)

3. Install energy savers at home. Don’t wait to acquire property that qualifies for the residential energy credit. This credit, which generally equals 30 percent of the cost of expenses like furnaces and air conditioning units, will expire after this year unless it’s extended by Congress. Caveat: The maximum credit allowed for 2010 is $1,500 (reduced by any credit claimed for 2009).

4. Schedule doctor visits. The deduction for medical and dental expenses is limited to your unreimbursed expenses over 7.5 percent of your adjusted gross income (AGI). If you’ve cleared the threshold for 2010 or you’re close to it, move elective expenses like dental cleanings and medical exams into this year. The idea is to “bunch” expenses in the year they’ll do you the most good.

If you have a flexible spending account (FSA) for medical expenses through your job, you’ll want to use up the balance by the end of the year. Visit doctors for elective procedures, get a new pair of prescription glasses, and purchase medicines. Remember, 2010 is the last year that FSAs can be used to buy over-the-counter drugs, such as aspirin, so you have until December 31 to stock up.

5. Avoid an underpayment tax penalty. Generally, you have to pay an “estimated tax” penalty if you don’t pay enough income tax during the year. But no penalty will be assessed if your tax payments equal at least 90 percent of your 2010 tax liability or 100 percent of your 2009 tax liability (110 percent if your AGI exceeded $150,000). A late adjustment to your tax withholding might do the trick.

6. Go “back to school” on tax breaks. The tax law provides tax breaks to parents who pay higher education expenses. For instance, you may qualify for the “American Opportunity” tax credit if you pay for your child to attend college. The election is made on your 2010 return. Caveat: The credit is phased out for certain taxpayers.

Do you have a college tuition bill that’s due in early 2011? If you pay it this year, you can take advantage of the education tax break on your 2010 tax return, provided you qualify. You’re allowed to prepay for academic periods beginning in the first three months of 2011.

7. Salvage a dependency exemption. If your child graduated from college in 2010, it might be the last year you’re entitled to a dependency exemption for him or her. Generally, you qualify if you provide more than half the support of a child who is under age 19 or a full-time student under age 24. Give your child a generous holiday gift if it will push you over the half-support mark.

8. Speaking of being generous, make annual exclusion gifts to reduce your taxable estate. Under the annual gift tax exclusion, you can give gifts of cash or property up to $13,000 this year to as many recipients as you would like with no gift tax consequences.

9. Boost your 401(k) contributions. It’s not too late to add to retirement plan accounts at work. If you participate in a 401(k), you can increase your elective deferral, up to the tax law limits. For 2010, the maximum deferral allowed is $16,550 ($22,000 if you’re age 50 or over). Tip: If your salary exceeded the Social Security wage base ($106,800 for 2010), you can use payroll tax savings to bolster 401(k) contributions.

10. Don’t forget retirement plan distributions. If you’re over age 70 1/2, you’re generally required to take required minimum distributions (RMDs) from your retirement plans and IRAs. Otherwise, you must pay a penalty equal to 50 percent of the required amount. Unlike the 2009 tax year, there’s no waiver for 2010. The deadline for most retirees is December 31, 2010 (April 1, 2011 if you turned age 70 1/2 in 2010).

11. Give to charity. If you donate cash or property to a qualified charity, you may be able to deduct the contribution within generous tax law limits. To increase your deduction for 2010, if desired, add a few dollars to a charitable gift late in the year. Even if you charge a donation by credit card on December 31, 2010, and pay the charge in 2011, the donation is deductible in 2010. For more information about the charitable deduction rules, click here to read our previous article.

Be aware that the tax law is complex. Consult with your Sheehan & Company tax adviser if you have questions about year-end tax moves for your situation.

The Young CPAs Committee of the NYSSCPA, Suffolk Chapter is participating in its 16th Annual Holiday Toy Drive to benefit the U.S. Marine Corps’ Toys for Tots Program. We once again expect to be the single largest pickup in all of Suffolk County!

All members of the media are invited to join us at 3:00 p.m. on Friday, December 10th for the ceremonial pick up of over 3,000 toys by the USMC at the offices of Sheehan & Company, 165 Orinoco Drive, Brightwaters, New York. It truly is amazing to witness the enormity of our efforts and the appreciation expressed by the Marines.

The New York State Society of Certified Public Accountants’ Young CPAs Committee was formed over 16 years ago to encourage younger members of the Society to participate in events such as the Toys for Tots Program. The Committee is also involved in various networking and professional development activities, which provide a forum for establishing professional relationships and creating leadership skills. Cynthia Finn Barry has organized the Suffolk Chapter’s Toys for Tots Program since its inception 16 years ago working closely with the U.S. Marine Corps and members of the Suffolk Chapter. The event has grown tremendously over the years and this year over 100 firms and local businesses are participating as drop-off locations including all branches of First National Bank of Long Island and State Bank.

For further information, please contact:
Cynthia Finn Barry, CPA
Phone: 631 665-7040 Fax: 631-665-7014
E-Mail: cbarry@sheehancpa.com