News: Long Island

Mayer CPAs: Reshaping the way accountants work with real estate businesses

The real estate industry has gone through a number of changes since the market crashed in 2008. Many properties were lost due to the high debt and others dealt with the crash by adjusting their costs and reducing payrolls. Now, six years later, what have we learned? The high demand for commercial and residential real estate has created more problems. Those who learned from the crash are trying to hold onto expense cuts and more income is flowing to the bottom line. Having the guidance and strategy plan in place is critical to sustaining growth and continued success regarding your businesses future. When a company is not doing something right, perhaps spending too much money on one part of the business, the numbers pop right off the page. At that point, experience and knowledge of the industry is what tells us that something is being mismanaged. In addition, the firm's relationships with financial institutions are always available to benefit our real estate and construction clients. Mayer CPAs goes beyond preparing audits and tax returns. We're proactive in that we also review clients' profit margins and annual projections and strive to identify issues before they become problems. This way, we are able to provide solutions that will impact the business in a positive manner. Many accounting firms have a portfolio of real estate clients, some claim to be experts in the construction industry, while others just lie back and use their size to say that they can handle the real estate client best, this is not true. National firms are geared to servicing national companies. Their strengths do not lie in providing the local or regional real estate entrepreneur the personal service only a medium size firm can offer. Each strategic decision made at Mayer CPAs is made to ensure that quality and service are never at stake. As a regional firm, we offer an incomparable pricing structure to larger firms, while providing the highest quality service. Today, this is why more of today's sophisticated real estate companies are coming to Mayer CPAs LLP for their accounting and auditing services, tax services and business advisory services. Mayer CPAs is a top boutique accounting firm offering clients proactive and personalized service. Mayer CPAs follows its vision to become an essential part of its clients' teams and their decision-making process. The firm acts as a guide to clients in their business' financial decisions. We strive to include the client in all aspects of the decision-making process so that they understand the thought process behind each decision that's they make. Mayer CPAs has a sincere commitment to personalized service for every client. Constant communication with clients allows us to go beyond the traditional services you would expect from an accounting firm. When financial issues need to be addressed, you want to work with an accountant and CPA firm who make you a priority and who will answer in a timely fashion. Our clients know they can count on us. We strived to be both proactive and responsive. When someone sends us an e-mail, our firm tries to respond to it immediately. When a client has an issue we try to resolve it within 24 hours, or we have begun work on it in that time frame. Some clients call us, aware that they have a problem but don't have a solution in mind; we're here to talk it through. Or they may call to say 'I'm thinking about something; what's your opinion?' The firm works with the businesses through all phases of growth, including succession planning and turnaround management. It's rare to come across a situation that we haven't encountered before. We utilize our perspective and experience. At the end of the day we always ask, 'is this the best choice for our client?' Mayer CPAs prides itself on offering lower fees than larger firms that have to carry large overheads and retiring partner payouts. We practice what we preach. Be lean and mean and the bottom line will be there to enjoy. Robert Mayer, CPA is managing partner of Mayer CPAs LLP, Woodbury, N.Y.
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.