Menu

August 21, 2012
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA Managing Partner, Armao, Costa & Ricciardi, CPAs, P.C.

There is no better time than Labor Day to reflect on the words of American philosopher George Santayana (1863-­‐1952) who said: "Those who cannot remember the past are condemned to repeat it."

Did you know that American trade unions are firmly rooted in the Pilgrims arriving at Plymouth Rock in 1620?

Read more...

July 9, 2012
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA Co-Founder and Managing Partner, Armao, Costa & Ricciardi, CPAs, P.C.

Solidarity is defined by the Merriam-Webster Dictionary as “unity (as of a group or class) that produces or is based on community of interests, objectives, and standards.”

Key in the definition is unity.

Read more...

May 31, 2012
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

Two areas that are often overlooked by union locals – but not overlooked by IRS auditors – are employer provided vehicles and reimbursed employee expenses. By taking note of the following information, union locals can avoid two common record keeping pitfalls when filing tax returns.

Read more...

April 30, 2012
By Salvatore J. Armao, CPA/PFS, CFP, CFE, CGMA

America is facing a retirement crisis that threatens to collapse the entire financial system if it is not addressed soon. Millions of Baby Boomers are preparing to retire in the next 10 to 15 years. In the past, $1,000,000 was considered to be the target goal for the amount of money needed to retire comfortably.

Read more...

March 23, 2012
By Salvatore J. Armao, CPA/PFS, CFP, CFE

This month’s article deals with new web-based filing requirements for Forms LM-2, LM-3, and LM-4 and Congress’s extension of the two-percent payroll tax cut.

 

The Office of Labor-Management Standards (OLMS) Electronic Forms System (EFS) is a web-based system for completing and submitting Labor Organization Annual Financial Reports.

Read more...

February 7, 2012
By Salvatore J. Armao, CPA/PFS, CFP, CFE

Lately, we have come across several situations involving improper formation of real estate holding companies that hold real property occupied by a union local and/or its related benefit funds.

Read more...

January 9, 2012
By Salvatore J. Armao

Now that the holidays are behind us and we are getting into the swing of things for 2012, it is time to focus on some of the government imposed filing deadlines to which we are subjected. One such filing requirement is Form LM-30.

Read more...

December 21, 2011
By Salvatore Armao


As the end of the year quickly approaches and everyone is thinking about the upcoming holiday season, Funds Administrators, Chief Financial Officers and Controllers should be starting their preparation for their annual financial statement audit conducted by their Independent Certified Public Accountants. Proper planning is crucial to ensure a quick and efficient audit with minimum disruption to you and your staff and your daily routine.

Read more...

Additional information