Sasserath Launches Sasserath & Co.

Boutique Firm to Focus on Sophisticated Tax and Accounting, Private Equity, Mergers & Acquisitions, International Tax Services, and Private Client Services

Alan R. Sasserath, CPA, MS, is pleased to announce the launch of a new firm, Sasserath & Co. The boutique firm focuses on sophisticated and technical tax and accounting for closely held businesses, private equity services, mergers and acquisitions, and international tax services. In addition, the firm offers private client services to manage high-net-worth clients’ needs including tax, estate, and financial planning.  At the new firm, these offerings are coupled with the superior level of service, value, and professionalism that clients have come to expect from Sasserath and his team. The new firm is headquartered in Ronkonkoma, a hub of Long Island business and steps from MacArthur Airport. Sasserath is joined by partners Lynn Montag, CPA and George Batas, CPA, MS, as well as many other longtime colleagues.

“The vision behind Sasserath & Co. is to create a firm entirely devoted to giving clients the attention they deserve, and we’re thrilled to launch this new chapter,” said Managing Partner Alan Sasserath. “We thank our clients and valuable business partners for enabling us to get to this point, and we look forward to helping them navigate the many opportunities and challenges that present themselves now and in the future.”

Sasserath & Co.’s depth and breadth of services is unique, particularly among Long Island firms. On the international side, the firm works with both foreign corporations as well as U.S. entities doing business abroad, advising on the ever-changing rules and regulations and tax strategy. Sasserath & Co. also provides essential guidance to clients buying or selling businesses, maximizing the value of their sale or acquisition. The firm also serves as a tax and business advisor to corporations and small businesses, understanding the inner workings of their companies and advising on both complex and routine matters that affect their bottom line. Sasserath & Co. also offers critical family office services to high-net-worth individuals and families who need a trusted partner to manage all aspects their most complex and important affairs.

Alan Sasserath has over 30 years of public accounting firm experience with a broad background in accounting, tax, audit, and financial planning. His technical experience includes working with high-net-worth individuals and closely held businesses. His industry experience includes technology, real estate management, construction, printing, as well as numerous service industries. In his new venture, Sasserath is also capitalizing on the opportunity to service high-net-worth clients with a distinctive holistic approach.

Sasserath Joins CMM Cares, Inc.’s Board of Directors

CMM Cares, Inc. has announced the election of Alan R. Sasserath, CPA, MS, Partner at Sasserath & Zoraian, LLP, to their Board of Directors. CMM Cares is a 501(c)3 and major supporter of veterans, children, and the arts on Long Island through fundraising, volunteering, and awareness campaigns. With the addition of Sasserath to its Board, CMM Cares is poised to make an even more significant impact within the community in 2021.

Sasserath, Partner at Sasserath & Zoraian, LLP, brings over 30 years of public accounting firm experience to his role with CMM Cares. With his strong background in accounting, tax, audit, and financial planning and his experience taking both Long Island and international businesses to the next level, Sasserath brings critical technical expertise to CMM Cares’ philanthropic efforts.

“Alan Sasserath has been an integral resource for businesses on Long Island,” said Victoria Tringone, Executive Director of CMM Cares. “We are excited to have him join the Board of Directors to bring our ideas and initiatives to the next level.”

At the start of the year, Sasserath was also elected to the Board of Directors for HIA-LI, a nonprofit member group of local businesses who aim to be a powerful force and economic engine for regional development on Long Island. An active supporter of various organizations, Alan is also a member of New York State Society of CPAs (NYSSCPA), SBC Global Alliance, International Tax Practitioners, and American Institute of Certified Public Accountants (AICPA).

Employee Retention Credit & Paycheck Protection Program Loans

Getting Ahead of the March 31st Deadline for Each

By Alan R. Sasserath, CPA, MS

A number of our friends and clients were/are eligible for Paycheck Protection Program (“PPP”) second draw loans AND the expanded Employee Retention Credit (“ERC”). March 31, 2021 is a critical day for each program.

With regard to the ERC, March 31st marks the end of the first quarter of 2021 that a taxpayer could be eligible for the 2021 expanded ERC. The general requirements (very high-level) to be eligible for this credit are: (1) that the taxpayer have a greater than 20% decline in gross receipts for the first quarter of 2021 when compared with the first quarter of 2019 and (2) have less than 500 employees. Even if a taxpayer applied for and received a second draw PPP loan, they can use wages paid during the first quarter of 2021 that will not or cannot be used for PPP loan forgiveness towards the ERC. The ERC is significant in that it could be worth up to $7,000 per employee per quarter.

If a taxpayer believes they will qualify for the ERC in Q1 2021, we are advising clients to contact their payroll company before their last payroll in March so they can claim the credit with the filing of the quarterly payroll tax return. Some payroll companies have sent information out regarding the ERC. Our concern is that if the payroll company is not notified ahead of time and they file the payroll tax return in the ordinary course of business (sometimes shortly after the last payroll of the quarter), then the taxpayer will be forced to claim the ERC on an amended payroll tax return. If the IRS gets flooded with such amended payroll tax returns, we don’t know what the processing time on those amended returns could be. That is why we think it is critical to get ahead of this now.

Current processing times for amended personal income tax returns are unusually long. We have clients that filed amended income tax returns in May of 2020 that are yet to be processed. The amended payroll tax returns will go to a different unit at the IRS, but again, who knows what they are prepared for and what kind of volume they will have to process.

With regard to the PPP, March 31st is the deadline for applying for second draw PPP loans. While the SBA provides PPP guidelines, each lender has their own rules regarding the application process. If you haven’t applied for the second draw PPP loan or have been holding off for one reason or another, do not miss this deadline! It is important to contact your lender now and find out the requirements for applying if you have not already done so.

As always, we are available to help. Don’t hesitate to contact us at 631-368-3110.

S&Z Welcomes George Batas as Partner

Sasserath & Zoraian, LLP, a New York CPA firm providing accounting, tax, and business advisory services, is pleased to announce that George Batas has been promoted to Partner as of January 1, 2021.

George Batas joined Sasserath & Zoraian in 2017, where he quickly became instrumental in establishing and running the firm’s State and Local Tax (SALT) department as well as working with international clients. He prides himself on being a critical resource for clients as they expand their businesses throughout the world.

“When I joined S&Z, my dream was always to become a partner. After 4 years of working with some of the brightest partners and staff in the industry, I have managed to complete this dream. I look forward to continue growing both on the individual and firm level,” said Batas.

Batas will continue to focus on growing their International and SALT departments upon his new role. Batas has in-depth experience advising closely held businesses as well as high-net-worth individuals on a wide range of complex tax issues. His work includes the preparation of sales tax returns for all states, nexus consultation and analysis, exposure analysis, voluntary disclosures for sales tax and income tax, sales tax audits, residency audits, and state registrations. Most recently, he has dedicated himself to understanding the ins and outs of the Paycheck Protection Program (PPP), helping clients maximize their loan forgiveness during a time of unprecedented financial strain.

Batas also provides accountant services to the firm’s numerous international clients, particularly on the corporate side. He works with clients to prepare to establish U.S. operations including registration with state authorities, applying for EINs, registering for sales tax collection, registering for payroll tax, and helping familiarize clients across the globe with the U.S. tax system.

George brings tremendous talent, dedication, and experience to the firm which strengthens the depth and knowledge of our partner group,” said S&Z Partner Alan Sasserath. “We look forward to his helping the firm to continue to evolve and grow in the years to come.”

Paycheck Protection Program (“PPP”) First and Second Draw Applications and Timing

By Alan R. Sasserath, CPA, MS and George Batas

It is tough for us to believe we are writing about new PPP Loans again, but here we are.


First some housekeeping, there are two types of PPP loans referenced in the latest guidance. “First Draw” PPP loans refer to the borrower’s first application whether received in the initial funding in 2020 or now, in 2021. “Second Draw” PPP loans refer to the borrowers that already received and spent the First Draw PPP loans. Requests for increases in a First Draw PPP loan would fall in the First Draw PPP loan application pool and are permitted in certain instances.


The SBA will open its portal to accept First Draw PPP loan applications from community banks today. On Wednesday, January 13th, the SBA will open its portal to accept Second Draw PPP loan applications. The SBA will open its portal to all banks shortly.


The current First and Second Draw PPP loan applications are linked below.


Eligibility requirements for the First Draw PPP loans have not changed. The requirements, in general, continue to be eligible small entities that have 500 employees or less or meet the alternative size standards.


In general, eligibility requirements for the Second Draw PPP loans are entities that:
  1. previously received and used a First Draw PPP loan on qualified expenses prior to the disbursement of the Second Draw PPP loan;
  2. are eligible small entities that have 300 employees or less; and
  3. can demonstrate at least a 25% reduction in gross receipts between the same quarter in 2019 and 2020.


If you think you are eligible for a First or Second Draw PPP loan, you should be in contact with your bank and financial advisors to assist you with the process. If you went through the process with a First Draw PPP loan, you should be reaching out to whomever you worked with on that.


We strongly suggest that you reach out to your advisors regarding this as soon as possible. While the applications are straightforward as they were the first time, there are always nuances. An example of one such nuance pertains to entities that are planning to use supplier costs to assist with PPP loan forgiveness. Under the latest guidance, an entity is permitted to use the cost of supplies that are essential to the operations of the entity at the time at which the expenditure is made when such expenditure is made pursuant to a contract, order, or purchase order in effect at any time before the covered period (the date that you received the First or Second Draw loan) with respect to the PPP loan. Our point is that you want your contracts, orders, and purchase orders to be in place prior to receiving the First or Second Draw PPP funds so you can use the related expenditures that occur in the 8-week to 24-week period following funding to assist with PPP loan forgiveness. If the contracts, orders, and purchase orders are not in place at the time funds are received, then such expenditures cannot be used unless an exception is met.


As always, we are here to help. If we can assist you in any way, please feel free to contact us.



Paycheck Protection Program Webinar – December 2020

Congressional leaders have reached a long-awaited agreement on a $900 billion stimulus package. The measure is expected to provide more than $284 billion for businesses and revive the Paycheck Protection Program (PPP), a lifeline federal loan program for small businesses that lapsed over the summer.
On December 23, 2020, Sasserath & Zoraian, LLP gave an informative webinar where Alan R. Sasserath explained the critical details you need to know about this new round of PPP, as well as updates to the existing PPP loan program.
Topics included:
  • Eligibility for “second round” PPP loans
  • Additional eligible expenses for existing PPP loans
  • Tax implications of PPP loans
  • Simplified forgiveness application
  • 501(c)(6) non-lobbying organizations
Below you will find the presentation materials and a video replay. We hope this information is helpful to you and as always, please contact us if we can be of further assistance.