Citrin Cooperman's 2021-2022 Year in Review

Welcome to Citrin Cooperman

Our clients gain access to strategic insights and actionable solutions to help them grow. We take the guess work out of the equation so that they have more time and resources to focus on what counts.

The theme this year at Citrin Cooperman has been ‘Access the Future.’ To us, this phrase is indicative of our commitment to provide tools, data, and insights that will help our clients stay ahead in their industries.

Words From Our Executive Chairman

Joel Cooperman

2021 was a year of significant transition – the workforce continued traversing an evolutionary path brought on by the pandemic, our firm completed a transformative deal with the private equity firm New Mountain Capital, and, on a personal note, in mid-year, I transitioned to the role of Executive Chairman after over 40 years as CEO of Citrin Cooperman. My duties now mostly deal with mergers and acquisitions of accounting firms and consulting businesses.

TECHNOLOGY HAS ALLOWED US TO WORK SUCCESSFULLY FROM HOME AND IN 2021 CITRIN COOPERMAN ACHIEVED RECORD REVENUE OF $350M. WE CONTINUE TO WORK CLOSELY WITH OUR CLIENTS TO HELP THEM COME THROUGH THE IMPACT OF THE PANDEMIC AND ACHIEVE SHORT- AND LONG- TERM SUCCESS.

Besides our normal accounting and tax services, we are providing meaningful consulting services including assisting with acquisitions, financing, cybersecurity, budgeting, and cash flow as well as assistance with the Paycheck Protection Program (PPP).

On October 1, 2021, Citrin Cooperman completed a groundbreaking transaction with private equity firm New Mountain Capital. Partnering with New Mountain provides us with the resources we need to continue to add talent and complementary consulting services. We now also have the ability to offer staff profit interests, which we believe will help with retention and will also provide multiple liquidity events for our people during the course of their careers.

During 2019, I made the decision to step down as CEO. I decided to do this because I felt it was time for the same succession planning that we often undertake with our clients to ensure continuity when leadership changes. Over the past two years, I have worked closely with Alan Badey, our new CEO, to make his transition as smooth as possible. In my new role as Executive Chairman, I have taken a step back from the day-to-day

responsibilities of running the firm and, instead, have been able to dedicate most of my time and attention to the firm’s growth. Having executed over 50 transactions for Citrin Cooperman since co-founding the firm in 1979, this is an area that I not only have considerable experience but an area I genuinely enjoy.

I know how stressful the past two years have been for all of us. My sincere wish for all of us is for a healthy, happy, and productive 2022.

Best,

Joel Cooperman

Words From Our Chief Executive Officer

Alan G. Badey

First and foremost, I want to begin this letter by sending my sincerest and heartfelt thoughts and thanks to all our clients, friends, and Citrin Cooperman team members who have done so much to persevere through 2021. The challenges and losses, the balancing act of family and work, and the dedication to each other and our firm have been truly incredible.

AS WE EMERGE FROM THE DISRUPTION OF THE PAST TWO YEARS, I AM FILLED WITH HOPE – HOPE FOR OUR FIRM, OUR CLIENTS, AND THE FUTURE FOR US ALL. THE PANDEMIC TAUGHT US A LOT AND HAS PAVED THE WAY FOR A COLLECTIVELY STONGER PATH TO BUILD A SUSTAINABLE AND THRIVING TOMORROW.

At Citrin Cooperman, we decided to approach this period as a time of transformation. We were lucky enough to have the infrastructure in place to support our team as they transitioned to working from home, but what could we do as a firm to create the future we wanted, for us and our clients, despite the seemingly constant stream of instability we were faced with every day?

It started with one of the most significant steps we have ever taken by joining forces with New Mountain Capital (“NMC”). NMC is an alternative investment manager with private equity, credit, public equity, and net lease strategies. This collaboration further cements our mission to be the go-to professional services firm of choice for our clients and gives our firm access to incredible resources, opportunities, and industry expertise which in turn allows us to provide our clients with enhanced solutions and tools. Our relationship with NMC helps us move at a faster pace and opens doors to greater service capabilities that we can ultimately bring to you and your business.

We have also dedicated ourselves to transformative action in order to ensure the long-term success of our firm. In 2021, we welcomed several new firms into Citrin Cooperman, including Goren, Marcus, Massino & Marsh, a full-service firm adding increased breadth and depth to our existing West Coast footprint, The DB Group, an award-winning financial planning and analysis advisory consultancy, OLC Management, Inc., bringing enhanced expertise to our entertainment and business management

practice, and Massarsky Consulting, the preeminent economics and consulting firm in the music industry. In the first quarter of 2022, we also made our first steps into Florida with the joining of two South Florida firms, Appelrouth, Farah & Co., P.A. and Bloom, Gettis & Habib, P.A. These, in conjunction with numerous lateral and internally promoted new partners, the move of a number of our offices into new spaces, and the launch of initiatives like BD Reimagined and CC Inspire, pave the way towards an even stronger future for our firm and our clients.

Our dedicated partners and professionals are focused on driving the path forward in our work with our clients and consistently building upon our skills, services, and practice depth to ensure we can keep you on track for success. You will learn more about these exciting developments within this edition of the Year in Review and explore how we are accessing our future through transformation and innovation to help our clients, communities, and each other remain focused on what counts.

On behalf of Citrin Cooperman and our team, I want to wish each and every one of you a happy and successful 2022.

Best,

Alan G. Badey

Forward Movement

WE HAVE SOME PRETTY LEGENDARY ROOTS, GETTING OUR START THANKS TO SEED MONEY FROM TWO ICONIC ROCK ‘N’ ROLL BANDS.

Since 1979, we have steadily built our business by helping companies and high net worth individuals find smart solutions. Whether our clients have operations and assets located around the corner or across the globe, we provide them with new perspectives on strategies that will help them achieve short- and long-term goals.

CITRIN COOPERMAN IS FOUNDED

Citrin Cooperman & Company is founded by Niles Citrin and Joel Cooperman with seed money from two iconic rock ‘n’ roll bands and they set up shop in a twobedroom apartment in New York City.

1980 - 2000

AGGRESSIVE GROWTH

Firms Joined: 16 | New Locations: 4

Milestones: The firm launches Citrin Cooperman Wealth Management, forms a State and Local Tax Practice, and joins the international accounting association Moore Global Network Limited.

1979

GROWING, MOVING, AND EXPANDING

Firms Joined: 6 | New Locations: 2

Milestones: Citrin Cooperman moves its NYC headquarters to 529 Fifth Ave and what began as a tour accounting firm, becomes a full-service tax, assurance, and business advisory firm.

2001 - 2010

KEY MANAGEMENT

EXECUTIVE CHAIRMAN, CITRIN COOPERMAN ADVISORS LLC

Joel Cooperman

CHIEF EXECUTIVE OFFICER, CITRIN COOPERMAN ADVISORS LLC

Alan G. Badey

PRESIDENT, CITRIN COOPERMAN & COMPANY, LLP

Patricia Cummings MANAGING PARTNER, INDUSTRIES AND MARKETS, CITRIN COOPERMAN ADVISORS LLC

Ken Kirkland MANAGING PARTNER, OPERATIONS AND INTEGRATION, CITRIN COOPERMAN ADVISORS LLC

Michael DeVito

OFFICE MANAGING PARTNERS, CITRIN COOPERMAN ADVISORS LLC

Peter Brown (Providence, RI)

James Capasso (Philadelphia, PA)

Patricia Cummings (Philadelphia, PA)

Richard Dettorre (Los Angeles, CA)

Bo Fitzpatrick (DC Metro)

Stacy Gilbert (New York, NY)

Jan Goren (West Los Angeles, CA)

Daniel Howard (Woodland Hills, CA)

Gary Kendall (Woodland Hills, CA)

Sean Killgoar (Braintree & Woburn, MA)

Matthew Kuchinsky (White Plains, NY)

Steve Lacher (Woodland Hills, CA)

Aaron Levy (Woodland Hills, CA)

Josh Rader (South Florida)

Michael Sabatini (Melville, NY)

Alex Serrano (Livingston, NJ)

Robert Shuwarger (Los Angeles, CA)

MANAGEMENT TEAM, CITRIN COOPERMAN ADVISORS LLC

John Bonelli, Partner and General Counsel

Patricia Cummings, Partner and Chief Risk Officer

Nicholas DiMaio, Partner and Chief Financial Officer

Melanie Foss, Chief Human Resources Officer

Anna Galioto, Partner, Firm Administration

David Kells, Partner and Chief Operating Officer

Laura Kucera, Partner and Chief Marketing and Sales Officer

Kenny Li, Partner and Chief Technology Officer

Nancy Palmerin, Chief Learning Officer

John Porricelli, Chief of Staff

Peter Vocaturo, Head of Accounts Receivable

GIVING BACK

Giving back to our local communities is a huge part of the culture at Citrin Cooperman. The firm participates in several charitable initiatives, including sponsorships, food drives, holiday giving, and much more. Throughout the year, “Charitable Fridays” are hosted in each office for a rotating list of charities, collecting donations from our partners and staff, which the firm matches.

82%

THE LEUKEMIA & LYMPHOMA SOCIETY (LLS)

- LIGHT THE NIGHT

ASIAN AMERICANS ADVANCING JUSTICE

- LOS ANGELES CHAPTER

American Heart - Go Red Day

AMERICAN HEART ASSOCIATION

- GO RED DAY

PENNY APPEAL USA

QUEENS WORLD FILM FESTIVAL THIS IS FEMME HOUSE!

WOUNDED WARRIOR PROJECT

RANKINGS AND AWARDS

FIRM

Top Franchise Supplier – Entrepreneur Magazine

24th Largest Accounting Firm in the U.S. – INSIDE Public Accounting (IPA)

Ranked 23rd on the 2021 Top 100 Firms – Accounting Today

Top 10 Most Promising FinTech Service/Consulting Companies of 2021 – CIOReview

America's Best Tax and Accounting Firms – Forbes

Best Places to Work – Central Penn Business Journal and Lehigh Valley Business

Best Places to Work in Westchester 2022 – Westchester Magazine

TEAM

Ellen Kera – Notable Women in Accounting & Consulting 2021 – Crain's New York Business

Allison Brack – Notable Women in Accounting & Consulting 2021 – Crain's New York Business

Cay Taylor – Outstanding Women in Law – Hofstra University's Maurice A. Deane School of Law

Matthew Martin – ‘40 Under 40’ – CPA Practice Advisor

Katerina Gaebel – Emerging Leader Under 40 – New York State Society of Certified Public Accountants

Rena Genauer – 20 in Their Twenties – Crain's New York Business

Alex Serrano – Accounting Power 50 – NJBIZ

Scott Derco – Accounting Power 50 – NJBIZ

Harry Carpenter – Accounting Power 50 – NJBIZ

Laura Crowley – 2021 Diversity, Equity & Inclusion Ovation Award – NJCPA

Jake Dericks – 2021 Emerging Leader Ovation Award – NJCPA

Michael Sabatini – Power 25 Accounting – Long Island Business News

Stacy Gilbert – ROI Influencers: Women in Business 2021 – ROI-NJ

Aaron Chaitovsky – Top 100 Franchise Influencer – 1851 Franchise and SeoSamba

Alex Serrano – ROI Influencers Power List 2021: Accounting – ROI-NJ

Mark Kaplan – Top Business Managers – Billboard

Victor Wlodinguer – Top Business Managers – Billboard

Christopher Hull – Top Business Managers – Billboard

Maria del Pilar Lopez – Top Business Managers – Billboard

Philip Baker – Top Financial Advisors – Washingtonian Magazine

Shawn Howard – Top Financial Advisors – Washingtonian Magazine

Arnie Herrmann – Hollywood's Power Business Managers – The Hollywood Reporter

Douglas Cammarano – Hollywood's Power Business Managers – The Hollywood Reporter

Wayne Mejia – Hollywood's Power Business Managers – The Hollywood Reporter

Matthew Segreto – Hollywood's Power Business Managers – The Hollywood Reporter

Sharon Sullivan – Hollywood's Power Business Managers – The Hollywood Reporter

PARTNER ADDITIONS

ANDREW ADLER

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Entertainment, Music, and Sports

Services: Business Management and Family Office, Royalty Audit, Compliance, and Consulting

STEVEN APPEL

Partner, Citrin Cooperman Advisors LLC

South Florida

Industries: Real Estate

Services: Commercial Tax Services, International Taxation Services, IRS Representation and Tax Controversies, Offshore Voluntary Disclosure Initiative, Private Client Services, State and Local Tax, Tax Compliance, Tax Research and Planning, Trust and Estate Services

STEWART APPELROUTH

Partner, Citrin Cooperman Advisors LLC

South Florida

Industries: Law Firms, Professional Services, Real Estate, Restaurants and Hospitality

Services: Audit and Attest, Agreed-Upon Procedures, Business Combinations, Business Consulting, Business Management and Family Office, Commercial Tax Services, Employee Benefit Plan Audit, Finance and Operations, Financial Statement

Audit, Forensic and Litigation Advisory Services, Going Public Readiness, Healthcare Advisory, IRS Representation and Tax Controversies, Mergers and Acquisitions Tax, Reviews and Compilations, Royalty Audit, Compliance, and Consulting, Tax Compliance, Tax Research and Planning, Trust and Estate Services, Valuation Advisory Services

ERICK ARANEDA

Partner, Citrin Cooperman Advisors LLC

South Florida

Industries: Real Estate Services: Commercial Tax Services, High Net Worth Individuals, Offshore Voluntary Disclosure Initiative, Tax Compliance, Tax Research and Planning, Trust and Estate Services

BLAKE J. BOSHNACK

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Financial Services, Real Estate, Staffing Services: Tax Compliance, Tax Research and Planning

KEVIN BURNS

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

New York City

Industries: Law Firms, Real Estate, Technology

Services: Accounting Advisory Services, Audit and Attest, Business Consulting, Employee Benefit Plan Audits, Financial Statement Audits, Reviews, and Compilations

LAURA CROWLEY

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

Co-Leader, CC EDGE

Livingston, NJ

Industries: Financial Services, Manufacturing and Distribution, Restaurants and Hospitality Services: Employee Benefit Plan Audits

CARLOS FARAH

Partner, Citrin Cooperman Advisors LLC

South Florida

Industries: TBD

Services: Audit and Attest, Business Consulting, Commercial Tax Services, Financial Statement Audit, International Taxation Services, Offshore Voluntary Disclosure Initiative, Tax Compliance, Tax Research and Planning

JESSICA GARBER

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

New York City

Industries: Real Estate

Services: Accounting Advisory Services, Agreed-Upon Procedures, Audit and Attest, Business Process Outsourcing, Financial Statement Audits, Reviews and Compilations, Tax Compliance

LAWRENCE GETTIS

Partner, Citrin Cooperman Advisors LLC

South Florida

Industries: Healthcare, Law Firms, Professional Services, Real Estate

Services: Financial Statement Audit, Reviews and Compilations, Tax Accounting and Provisions, Tax Compliance, Tax Research and Planning

HOWARD GOLDSTEIN

Partner, Citrin Cooperman Advisors LLC

South Florida

Industries: Architecture and Engineering, Law Firms, Professional Services, Real Estate Services: Business Combinations, Business Management and Family Office, Commercial Tax Services, High Net Worth Individuals, Mergers and Acquisitions Tax, Tax Compliance, Tax Research and Planning

ANTHONY HARRYPERSAD

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

White Plains, NY

Industries: Financial Services, Manufacturing and Distribution, Private Equity and Capital Markets, Real Estate, Technology Services: Accounting Advisory Services, Agreed-Upon Procedures, Audit and Attest, Business Consulting, Reviews and Compilations

SHAKEEL HUSSAIN

Partner, Citrin Cooperman Advisors LLC

White Plains, NY

Industries: Architecture and Engineering, Law Firms, Real Estate

Services: Business Consulting, High Net Worth Individuals, Mergers and Acquisition Tax, Tax Compliance, Tax Research and Planning

AMIT JAIN

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

Woodland Hills, CA

Industries: Manufacturing and Distribution, Real Estate, Technology

Services: Business Combinations, Employee Benefit Plan

Audits, Financial Statement Audits, Lease Accounting, Revenue Recognition, Reviews and Compilations

HEYAM JANELL

Partner, Citrin Cooperman Advisors LLC

Tax Operations Leader

Providence, RI

Services: High Net Worth Individuals, Trust and Estate Services

ALYSSA KAYE

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

Philadelphia, PA

Industries: Franchising, Professional Services, Staffing Services: Audit and Attest

JENNIFER KIM

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Entertainment, Music, and Sports

Services: Business Management and Family Office, High Net Worth Individuals

BRUCE LEV

Partner, Citrin Cooperman Advisors LLC

New York City

Services: Business Management and Family Office, High Net Worth Individuals, Private Client Services, Tax Compliance, Tax Research and Planning, Trust and Estate Services

DAVID LEVENTHAL

Partner, Citrin Cooperman Advisors LLC

Beverly Hills, CA

Industries: Entertainment, Music, and Sports, Real Estate Services: Business Management and Family Office, High Net Worth Individuals, Tax Research and Planning

OTOMA LOWERY

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Real Estate

Services: Commercial Tax Services, Tax Compliance, Tax Research and Planning

BARRY MASSARSKY

Partner, Citrin Cooperman Advisors LLC

Co-Leader, Music Economics and Valuation Services Practice

New York City

Industries: Entertainment, Music, and Sports

Services: Business Management and Family Office, Forensic and Litigation Advisory Services, Music Economics and Valuation Services

NARI MATSUURA

Partner, Citrin Cooperman Advisors LLC

Co-Leader, Music Economics and Valuation Services Practice

New York City

Industries: Entertainment, Music, and Sports Services: Business Management and Family Office, Forensic and Litigation Advisory Services, Music Economics and Valuation Services

ANTHONY MAZZA

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

New York City | Livingston, NJ

Industries: Financial Services, Private Equity and Capital Markets

Services: Agreed-Upon Procedures, Financial Statement Audits, Reviews and Compilations

VICTORIA MOSS

Partner, Citrin Cooperman Advisors LLC

Woodland Hills, CA

Industries: Entertainment, Music, and Sports, Private Equity and Capital Markets, Real Estate Services: High Net Worth Individuals, Mergers and Acquisitions

Tax, Tax Compliance

KERRY MULCAHY

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Real Estate

Services: Business Management and Family Office, Commercial Tax Services, Forensic and Litigation Advisory Services, High Net Worth Individuals

RONY NAFTALY

Partner, Citrin Cooperman Advisors LLC

Beverly Hills, CA

Industries: Entertainment, Music, and Sports, Financial Services, Hedge Funds, Private Equity and Capital Markets

Services: Business Management and Family Office, High Net Worth Individuals, International Taxation Services, IRS

Representation and Tax Controversies, Tax Compliance, Tax Research and Planning, Trust and Estate Services

JOSEPH NERI

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Entertainment, Music, and Sports, Financial Services, Law Firms, Restaurants and Hospitality Services: High Net Worth Individuals, Private Client Services, Tax Compliance, Tax Research and Planning

JAE PI

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

New York City

Industries: Franchising, Real Estate Services: Accounting Advisory Services, Audit and Attest, Business Consulting, Financial Statement Audit, Reviews and Compilations, Risk Advisory Services

MARC ROTTENBERG

Partner, Citrin Cooperman Advisors LLC

Beverly Hills, CA

Industries: Entertainment, Music, and Sports, Real Estate Services: Business Management and Family Office, High Net Worth Individuals, Tax Research and Planning

JOSHUA RADER

Managing Partner, South Florida, Citrin Cooperman Advisors

LLC

Partner, Citrin Cooperman & Company, LLP

South Florida

Industries: Construction, Franchising, Law Firms, Manufacturing and Distribution, Not-For-Profit, Private Equity and Capital Markets, Professional Services, Real Estate, Restaurants and Hospitality

Services: Agreed-Upon Procedures, Audit and Attest, Business Combinations, Business Management and Family Office, Employee Benefit Plan Audit, Financial Statement Audit, Forensic and Litigation Advisory Services, Lease Accounting, Mergers and Acquisitions Tax, Not-For-Profit Tax, Revenue Recognition, Reviews and Compilations, Tax Compliance, Transaction Advisory Services

TARA RUSSELL

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

Melville, Long Island

Industries: Manufacturing and Distribution, Technology

Services: Agreed-Upon Procedures, Employee Benefit Plan Audits, Financial Statement Audits, Reviews and Compilations

JESSICA SAWYER

Partner, Citrin Cooperman Advisors LLC

Providence, RI

Industries: Cannabis Advisory Services, Construction, Manufacturing and Distribution, Maritime, Shipping, and Logistics, Real Estate, Staffing, Technology

Services: Commercial Tax Services, Private Client Tax Services, Tax Compliance, Tax Advisory, Tax Research and Planning

JASON SLIVKA

Partner, Citrin Cooperman Advisors LLC

New York City

Corporate Development and M&A

BRAD TAYLOR

Partner, Citrin Cooperman Advisors LLC

Braintree, MA

Industries: Construction, Financial Services, Healthcare, Law

Firms, Manufacturing and Distribution, Private Equity and Capital Markets, Technology

Services: Forensic and Litigation Advisory Services, Transaction Specialty Solutions, Valuation Advisory Services

ANN TORNO

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

Livingston, NJ

Industries: Automotive Dealerships

Services: Audit and Attest, Business Consulting, Tax Compliance, Tax Research and Planning

BRIAN TORRES

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP

South Florida

Industries: Architecture and Engineering, Construction, Manufacturing and Distribution, Real Estate

Services: Agreed-Upon Procedures, Audit and Attest, Business Consulting, Financial Statement Audit, Forensic and Litigation Advisory Services, Reviews and Compilations

JOSETTE P. TRAVERSA

Partner, Citrin Cooperman Advisors LLC

Philadelphia, PA

Services: High Net Worth Individuals, International Taxation Services, Tax Research and Planning

CHRISTINE VALAOURAS

Partner, Citrin Cooperman Advisors LLC

Partner, Citrin Cooperman & Company, LLP White Plains, NY

Industries: Financial Services, Manufacturing and Distribution, Private Equity and Capital Markets, Staffing, Technology

Services: Accounting Advisory Services, Agreed-Upon Procedures, Audit and Attest, Employee Benefit Plan Audits, Financial Statement Audits, Reviews and Compilations

DOMINIK N. VAN DER VEEN

Partner, Citrin Cooperman Advisors LLC

Bethesda, MD

Industries: Healthcare

Services: Business Consulting, Healthcare Advisory

MARYANN N. VEYTSMAN

Partner, Citrin Cooperman Advisors LLC

New York City

Industries: Automotive Dealerships, Construction, Healthcare, Manufacturing and Distribution, Real Estate, Restaurants and Hospitality, Technology

Services: Economic Damage Analysis, Forensic Accounting, Forensic and Litigation Advisory Services, Fraud Investigations, Insurance Claim Analysis, Internal Investigations, Shareholder Disputes

JEFF WORSHAM

Partner, Citrin Cooperman Advisors LLC

Beverly Hills, CA

Industries: Entertainment, Music, and Sports

Services: Business Management and Family Office, High Net Worth Individuals, Tax Compliance, Tax Research and Planning

DAVID ZAWITKOWSKI

Partner, Citrin Cooperman Advisors LLC

Livingston, NJ

Industries: Automotive Dealerships, Financial Services, Healthcare, Staffing Services: Transaction Advisory Services

GARY ZHANG

Partner, Citrin Cooperman Advisors LLC

Woodland Hills, CA

Industries: Financial Services, Law Firms, Manufacturing and Distribution, Real Estate, Restaurants and Hospitality

Services: Business Management and Family Office, High Net Worth Individuals, Tax Compliance, Tax Research and Planning

SPOTLIGHT ON RECENT GROWTH

FOCUS ON: SERVING THE NEEDS OF THE CFO

For a business to survive in 2022 and beyond, a focus on growth and improving efficiencies is crucial. To that end, Citrin Cooperman has been focused on continuing to build strategic advisory services for our clients. In 2021, the firm expanded its advisory services line with the addition of The DB Group, an award-winning financial planning and analysis (FP&A) advisory and implementation consultancy. The deal enhanced the business advisory service capabilities of Citrin Cooperman; the firm is now able to implement corporate performance management (CPM) software for clients to help improve and streamline finance and accounting processes. The DB Group’s

founder and managing partner Dominic DiBernardo joined as a partner, along with five directors and their staff, under Citrin Cooperman’s Strategy and Business Transformation Practice, led by Partner Steve Ronan.

“We’ve joined Citrin Cooperman’s advisory group to complement a team embracing the strategic, data-driven transformation needed to remain competitive in today’s business market,” said Dominic DiBernardo, managing principal of The DB Group.

“This is a great opportunity to be a part of a top firm that serves the strategic needs of the CFO.”

FOCUS ON: THE ECONOMICS OF MUSIC

Famed music valuator Massarsky Consulting joined Citrin Cooperman in December 2021. The leading copyright economics consultancy is widely known for their work in the music industry serving the valuation interests of music publishing and recording label firms. Massarsky Consulting partners Barry Massarsky and Nari Matsuura joined Citrin Cooperman as partners and co-leaders of the firm’s new Music Economics and Valuation Services Practice, along with their well-regarded team, which includes Elon Altman and Jake DeVries. The group joined Citrin

FOCUS ON: BREAKING GROUND IN FLORIDA

Citrin Cooperman announced our entrance into Florida in early 2022 with the joining of two South Florida firms, Appelrouth, Farah & Co., P.A. and Bloom, Gettis & Habib, P.A. "The collective talent and similar cultures of these two firms will translate to incredible benefits for our clients and professionals,” said Alan Badey, CEO of Citrin Cooperman. “South Florida is a strategically important market for us, and we are pleased to welcome both firms to assist with our growth and focus in this region. Our combined capabilities will enhance Citrin Cooperman’s full suite of services and will put us in a strong position to pursue continued market acceleration and provide a superior experience for our clients.”

Appelrouth, Farah and Co., P.A. is one of the premier full-service accounting and international business advisory firms in South Florida. “Citrin Cooperman is experiencing such immense growth and I am excited to be part of taking that growth to South Florida,” said Managing Partner Josh Rader. “We are well-positioned to service all of our clients’ needs, and joining the firm will help us continue to provide the best resources and

Cooperman’s rapidly growing Entertainment, Music, and Sports Practice, led by Partner Matthew Segreto.

“We’re thrilled to have the Massarsky Group be part of the Citrin Cooperman team,” said Barry Massarsky, founding partner of Massarsky Consulting. “It was important for us to find a firm with a deep understanding of the same music industry copyright interests for which we are so well-aligned for the last 29 years. We wanted a firm that truly creates the new resource capacity for our important work ahead.”

talent in the market to them.” Over its 37-year history, Appelrouth, Farah & Co., P.A. has developed a strong team of partners and professionals that specialize in auditing and assurance services, domestic and international taxation, as well as litigation support, forensic accounting, fraud examination, business valuation, and family office services. They service the full spectrum of private and public sectors, business and market conditions, and geographical locations.

Bloom, Gettis & Habib, P.A. is a general, full-service audit, tax, and consulting firm in Miami, FL. Founded in 1991, Bloom, Gettis & Habib, P.A. specializes in providing audit, tax, and consulting services to a variety of industries including professional services, law firms, real estate, high net worth individuals, and medical practices. “I look forward to enhancing our capabilities to provide deeper, more robust services to our clients,” said Bloom, Gettis & Habib, P.A.’s Managing Partner Lawrence Gettis. “This transition will help us provide additional expertise and expand our existing knowledge base.”

FOCUS ON: PREPARING FOR FUTURE GROWTH

With an eye towards future strategic growth, the firm recognized the need to upgrade some of its current footprint and in 2021 found new locations for three of its offices.

EAST COAST MOVES

Expanding the firm’s footprint to account for recent and planned growth, in October 2021, Citrin Cooperman relocated its headquarters to 50 Rockefeller Plaza. The new headquarters is located between West 50th and West 51st Streets in the famed Rockefeller Center. Architecture and design firm Spectorgroup designed the space after taking into account the responses from a survey of Citrin Cooperman’s New York City partners and staff. From the type of furniture, lighting, meeting space, wellness rooms, and more, the new office space was designed specifically for Citrin Cooperman employees – and their clients, who have access to client lounges, workstations, and meeting space for their own use. The Citrin Cooperman team also has access to the numerous amenities of Rockefeller Center, including food and shopping, community events, lounge spaces, fitness and wellness classes, and the brand-new Radio Park roof garden accessible only by tenants and their guests.

“This move to our new headquarters at Rockefeller Center was carefully and strategically designed to be able to support the mission and vision of the firm for the long term,” said New York Office Managing Partner Stacy Gilbert. “From recruiting and retaining employees, to collaboration and client service, no stone was left unturned. I’m very grateful for our diligent Citrin Cooperman team who have been working nonstop on this project. We look forward to welcoming our clients and friends into our incredible new headquarters.”

NEW YORK CITY

BRAINTREE

At the end of 2021, the firm’s Braintree, Massachusetts office relocated, moving to a larger space to accommodate their growth in New England. The new office building is located at 30 Braintree Hill Office Park in Braintree, Massachusetts, and is just ten miles outside of Boston. Everyone is beyond grateful for the new, state-of-the-art office space which includes elevated views of the Blue Hills and Boston, multiple conference rooms, and a client center for those who want to visit and meet with their Citrin Cooperman advisors. The new office also provides a great space for our 100 partners and staff to comfortably host clients and colleagues in the community, and everyone is eager to make full use of this facility. The office is outfitted with the latest technologies and brandnew furniture throughout the space, including sit/stand options in both cubicles and office spaces. The Citrin Cooperman team now has access to various on-site amenities including cafeterias with catering services, covered parking, a complimentary shuttle to Quincy Adams T station, fitness centers, a walking trail, and additional conference/ training rooms.

“This tactical move to new, expanded space is crucial in helping to support our growth in Massachusetts,” said Sean Killgoar, managing partner of the firm’s Braintree, MA office. “The new office will allow our growing team ample space to support their client base and we look forward to welcoming our clients and friends in the new year.”

WEST COAST MOVES

WOODLAND HILLS

After a flurry of deal activity over the last few years, Citrin Cooperman has grown the West Coast team to 150 partners and staff across a total of four offices in Southern California. In July of 2021, the partners and staff of the firm’s Encino, CA office relocated to Woodland Hills, CA. The new, state-of-the-art office space includes 25,887 square feet in the Warner Center Towers, which is located in the San Fernando Valley area of Los Angeles County. Covering 1.5 square miles, the Warner Center is home to office space, residential buildings, shopping complexes, fitness centers, a park, and a Metro Orange Line, connecting the office to all that Los Angeles has to offer. The team could not wait to experience the new office outfitted with the latest technologies and plenty of natural light and meeting space to encourage collaboration.

“This strategic move to new, expanded space is crucial in helping to support our growth in Southern California,” said Woodland Hills Co-Managing Partners, Danny Howard and Steve Lacher in a joint statement. “We look forward to opening the doors to a new chapter for Citrin Cooperman on the West Coast. The new office grants us the ability to scale up with ease, and our team is energized and ready to continue helping our clients reach their goals.”

Access the Future

CC INSPIRE

Our focus is our commitment to inspire our employees as we drive our mission, our values, and our future together. We are committed to developing, attracting, and maintaining all our talent and recognizing them for all that they do. Not only do employees want meaningful roles, but they are looking to work towards a greater purpose – one that they believe in. The connections they create and nurture in the work environment will help inspire employees to be their best and bring their best to work.

A positive employee experience increases engagement, retention, and productivity. To drive our mission and values,

ENTERTAINMENT / BUSINESS MANAGEMENT AND FAMILY OFFICE PRACTICE

Citrin Cooperman’s deep roots in the entertainment industry began in 1979 with seed money from two famous rock-and-roll bands that helped found the firm. The firm continues to service high-profile and emerging talent in the music, TV and film, media, and sports industries, as well as high net worth individuals in the commercial sector. Citrin Cooperman’s entertainment, music, and sports and business management and family office

NEW LEADERSHIP

practice areas have grown rapidly over the last few years, driven by its West Coast expansion, which included the addition of the Beverly Hills, CA; West Los Angeles, CA; and Woodland Hills, CA offices. The firm’s strong bicoastal footprint is a key component of its growth strategy in the entertainment, music, and high net worth sectors.

Partner Matthew Segreto was appointed leader of the firm’s Entertainment, Music, and Sports Practice in February 2021. With 15 years of experience, Segreto quickly rose through the ranks within the firm given his strong technical tax background, reputation for attentive client service, and a bespoke approach to wealth management. Segreto offers a suite of tailored services to elite actors, artists, sports dignitaries, and C-Suite executives, no matter where their business takes them. He was recently listed on The Hollywood Reporter’s “Hollywood’s Top Business Managers” list, as well as Variety’s “Business Managers Elite” list. In the role of industry practice leader, Segreto oversees the delivery of top-quality services and the development of the industry group’s strong reputation by using the talent and resources within the firm to provide clients with innovative solutions to fit their unique needs. With a bicoastal presence and a robust bench of talent, the Entertainment, Music, and Sports Practice is poised for continued growth.

The Business Management and Family Office (BMFO) Practice is built on a strong foundation of exceptional client service and the integration of personal and business consulting, tax planning and compliance, and business management. The firm services high-profile and emerging talent in the Entertainment, Music, and Sports Industry Practice, as well as high net worth individuals in the commercial sector. The BMFO Practice has grown rapidly over the last two years with the addition of three new locations in Southern California and two newly announced co-practice leaders, Jamie Montanio and Matthew Segreto. Montanio joined the firm in November 2020 from Winningham Becker & Company LLP, a top 25 accounting firm in the San Fernando Valley. With nearly 20 years of experience under her belt, Jamie’s role as co-practice leader is integral to Citrin Cooperman’s West Coast operations. Her expertise includes accounting, business management, tax planning, and consulting for entertainers, owners, and operators of real estate, professional service firms, and high net worth individuals and their closely held companies. She was previously recognized as a “Women to Watch – Emerging Leader” by the California Society of Certified Public Accountants. Her strong background in accounting and tax has allowed her to become a trusted advisor to her clients. Her passion lies in allowing her clients to focus on their craft, while she and her team helps manage all facets of their financial lives.

NEW ADDITIONS TO THE PRACTICE

Massarsky Consulting

Massarsky Consulting, a leading copyright economics consultancy widely known for their work in the music industry serving the valuation interests of music publishing and recording label firms, joined Citrin Cooperman in December 2021. Partners Barry Massarsky and Nari Matsuura joined Citrin Cooperman as partners and co-leaders of the firm’s new Music Economics and Valuation Services Practice, along with their well-regarded team which includes Elon Altman and Jake DeVries. Citrin Cooperman’s Music Economics and Valuation Services, led by the Massarsky Group, provides strategic counsel to owners of music copyrights as well as litigation economics, statistical analysis, valuation, and performance income review. The group is known for its high value relationships with performance rights organizations, music publishers, record companies, music industry data providers, and litigation firms. The group is well positioned among commercial lenders, private equity firms, and other financial investors who are increasingly seeking to acquire music asset rights. They have a breadth of clients in New York, Los Angeles, Nashville, Washington, DC, Toronto, and London, as well as in Europe, South America, and Australia.

OLC Management, Inc.

OLC Management, Inc. (OLC), a premier business management firm in the entertainment industry, joined Citrin Cooperman in November of 2021 with its founding members, David Leventhal and Marc Rottenberg, joining as partners. Clients include celebrated artists in the entertainment industry - the who’s who of young Hollywood entertainers. The group provides concierge-style, full-service business and personal financial management services, including complex tax planning and preparation. The Beverly Hills location marks the fifth Southern California outpost for Citrin Cooperman.

Citrin Cooperman will continue to drive growth in the areas of entertainment and business management. We are excited for what’s to come in 2022 – stay tuned!

CC EDGE YEAR IN REVIEW

Citrin Cooperman's Empowering Diversity and Gender Equality (CC EDGE) program is committed to driving the continual evolution of a culture at Citrin Cooperman that understands, appreciates, and supports the diverse and gender-specific needs of everyone in the firm. It is a long-term strategy to continually cultivate a firm environment that embraces three important elements: equal opportunity and fairness; work-life flexibility; and a safe, respectful workplace.

To achieve our mission, CC EDGE conducts firm-wide awareness and well-being seminars. Through collaboration with other internal departments, such as HR and the corporate learning and development team (CC LEAD), we provide ongoing training to all employees on issues that promote openmindedness and change. Our bi-monthly CC EDGE Newsletter covers timely topics ranging from monthly observances to important social developments. We also curate a growing library of resources on our intranet site on diversity, equity, and inclusion (DEI) topics that create awareness, promote allyship, and provide opportunities for activism.

CC EDGE works with external organizations like PENCIL, Women’s Enterprise Development Center, The Hispanic Federation, Alliance of Women Entrepreneurs, Leading Women Entrepreneurs, Professional Women in Construction, and many others, to support diversity, equity, and inclusion efforts at regional and national levels.

Our commitment to DEI also extends to the global community through charitable events and fundraisers throughout the year. These include, among many others, our India office’s campaign to collect much-needed feminine sanitary products, our annual campaigns across our U.S. offices to support women’s shelters, our Juneteenth contributions to the Equal Justice Initiative, and

INDUSTRY UPDATE – A NEW GO-TO-MARKET STRATEGY

By Ken Kirkland, Managing Partner of Industries and Markets at Citrin Cooperman Advisors LLC

CITRIN COOPERMAN WENT THROUGH SOME TRULY TRANSFORMATIVE CHANGES IN 2021 AND TO DO EVEN MORE, WE TOOK THE OPPORTUNITY TO ASSESS AND EVALUATE OUR INDUSTRY GROUP OPERATIONS AND FOUND THAT WE COULD IMPROVE OUR CLIENTS’ EXPERIENCES, SERVICES, AND EDUCATION BY MAKING SOME ADJUSTMENTS TO OUR GO-TO-MARKET STRATEGY.

Our goal was to make sure we were answering our clients’ needs in the market, so we started with an in-depth assessment of how each of our key industry groups worked, both on a micro and macro scale, as well as on a local geography and larger national practice level. We set out on a path to find the answers and ended up discovering and implementing a complete redesign of how we operate as a firm in our go-to-market strategy.

It is of paramount importance that our clients’ experiences are the same regardless of industry or geography. With that in mind, one of our first steps was to make sure that each industry group had an actionable plan in place to support their clients and grow their groups in 2021 and beyond. In some industries, we helped the national practice leaders identify local geography teams for each of the offices so that no matter where our clients lived, they had access to Citrin Cooperman professionals who were immersed in the latest practices, education, and regulations of their related industries.

We committed ourselves to building out these dedicated local industry teams to ensure that our clients and team members, no matter if they were in California or Boston, are receiving the same consistent methodologies, tools, and learning resources. By leveraging the skills and strengths of our incredible employees, we are able to truly meet our clients where they

are and provide the comprehensive services and solutions to help them thrive.

Our industry leaders and I are excited at what 2022 brings as we continue to develop and expand our go-to-market strategy. With new firms, practices, and services joining Citrin Cooperman all the time, we can’t wait to bring you more innovative approaches to the complex issues you, your businesses, and your families face every day.

INTERNATIONAL TAX PRACTICE

Citrin Cooperman’s International Tax Practice (“ITP”) has spent 2021 deepening their focus, expanding their bench, enhancing their role as a firm resource, and expanding their industry presence. As a practice of approximately 25 professionals including five partners, the group provides tailored, hands-on advisory, consulting, and compliance services to a wide range of cross-border clients. As a member of the Moore Global Network, the ITP team has leveraged its connections worldwide to gain, retain, and provide highly specialized technical advice to foreign and domestic clients.

The ITP team focuses on cross-border (both inbound and outbound) consulting and structuring. We are involved from the beginning of the process through client implementation. The ITP also provides services across a myriad of areas including international tax compliance, advice regarding international mergers and acquisitions, foreign trust and estate planning, preimmigration and EXPAT tax planning, foreign tax credit utilization and planning, U.S. withholding tax compliance for U.S. source income payments to foreign persons, and in-depth treaty analysis and application. The ITP services a diversified industry practice including real estate, entertainment, technology, franchising, and financial services. Regardless of the issues you are facing, our team of experienced tax professionals can provide in-depth, targeted solutions.

NEW CORPORATE PERFORMANCE MANAGEMENT SERVICES

For business management, using financial information to make better decisions is one of the key drivers of success. Financial reporting, analytics, forecasting and budgeting, and collaborative business planning all work together to make the finance function more strategic, more efficient, and higher value. To help our clients with this, our Strategy and Business Transformation Practice introduced a new offering in 2021 with the addition of a new dedicated sub-practice to focus on corporate performance management.

Citrin Cooperman’s Corporate Performance Management (CPM) Practice enables these capabilities by implementing CPM software. CPM brings all your decision support together in one place and helps automate and effectively manage your financial workflows. With over 70+ years of combined financial

planning and analysis (FP&A) experience, our professionals provide management and implementation consultation services to successfully navigate your digital transformation journey. The addition of Citrin Cooperman’s CPM Practice to our advisory capabilities allows us to provide extensive financial planning assistance to our clients as they evolve and grow.

Our CPM Practice is an implementation partner of Vena Solutions and our team won Vena’s Dedicated Partner of the Year award in 2021. Vena connects people, systems, and data to power finance-led business planning and real-time reporting using the world’s leading spreadsheet platform.

TRANSFORMING THE LEARNING EXPERIENCE

At Citrin Cooperman, our CC LEAD (Learning, Education, and Development) team has proven once again to be adaptive, resilient, and responsive to the evolving learning needs of our employees, clients, and our business. As a firm, we have risen to the challenges over the past few years by helping our employees manage long-term changes and ambiguity by upskilling and reskilling on key areas such as onboarding, tax, assurance, advisory, and industries.

For 2021, we focused on our “One Firm” approach to our learning by developing and delivering programs and resources that motivate, build skills, and retain talent at all levels and all locations of the business. We obtained sponsorship status with the National Association of State Boards of Accountancy (NASBA) and joined the National Registry of CPE Sponsors for both group internet-based programs and group-live programs. This was a great honor that highlighted our commitment to maintaining the highest standards for our continuing professional educational activities, as these activities are vital

LEARNING BY NUMBERS:

3,682

With a continued emphasis on a blended approach to learning, 3,682 online courses were completed in our new learning management system.

224 100

to assisting all our professionals in achieving and maintaining quality in professional services. We are also building upon our industry learning curriculum, investing in an advisory curriculum, accelerating our leadership competencies at all levels, and expanding our current programs and systems to build specialized skills to compete in today’s market.

46 400

46 newly promoted managers attended our Leading for Success Course, Leadership Development Program.

Delivered Leases (ASC 842) Workshop to 400 assurance professionals of all levels.

224 newly hired staff through partners received customized onboarding training on technical accounting topics, software applications, and firm knowledge.

For the first time, we expanded our Advanced Tax Training to two different tracks to accommodate 100 participants globally in our virtual classroom.

1,404

1,404 employees participated in our industry training programs, which is a priority of our 2022 curriculum.

In our commitment to maintaining standards of independence in all client work, our professionals completed Independence Training, which is an annual firmwide requirement.

A new year means new initiatives, and as we look forward to 2022, we are focused on delivering high-quality remote and hybrid training which requires focus on the digital learning experience – moving beyond traditional training methods to meet the unique needs of a remote workforce. From virtual events and continuing professional development opportunities to investing in our systems and technology, we are excited to bring our professionals together to share insights and learn from one another.

Future of Industry

ASSESSING THE PAST

2021 proved to be an unprecedented year of perpetually shifting definitions of “normal.” This past year has offered both obstacles and opportunities through recovering from a world interrupted.

“The business environment is evolving faster than ever,” stated Steve Ronan, leader of Citrin Cooperman’s Strategy and Business Transformation and Business Process Outsourcing Practices. “Even small and middle-market companies can’t be effectively managed by intuition or ‘feel’ anymore. Good decisions take a high degree of planning and analysis. Good planning processes will allow you to achieve that insight without slowing the business down.”

To plan for a strong future, which in many ways has already been shaped by a worldwide pandemic, it is important to take stock of the momentous changes presented by 2021.

NECESSITY, THE MOTHER OF INVENTION

The age-old proverb remains correct that necessity is the mother of invention. 2021 showed the resilience and ingenuity of many businesses in their abilities to respond to constant change and to reinvent themselves over and over again. Pivots have been a means of survival in an era of dramatic change. For the second year in a row, many dine-in restaurants became delivery only, retail stores moved their operations online, and gyms took their fitness options outdoors. Businesses also had to quickly adopt new technologies and platforms to accommodate pivots to online business and a labor force that transitioned to rely more heavily on remote work.

Businesses had to re-evaluate their products, supply chains, and labor forces as well as how they get their products in front of customers. We are now in the midst of a people-driven fifth industrial revolution. Mark Fagan, co-leader of the firm’s Manufacturing and Distribution Practice said, “businesses have been forced to expand warehouse space, reassess sourcing locations, and adjust shipping logistics. Suddenly, the

procurement officer has become the most important person in the company.”

The uncertainty presented by 2020 and 2021 has caused many businesses to refocus and capitalize on opportunities presented within their industries. For example, Michael Iannuzzi, co-leader of the firm’s Franchising Practice, has seen the acceleration of private equity groups continuing to make investments at both the franchisor and multi-unit franchisee level as franchising continues to be a popular business model with predictable cash flows. “In times of economic uncertainty, franchising has historically performed well. Now, as people begin to evaluate their careers and next stages in life, they are buying franchised businesses and, as a result, more franchise concepts are being created and coming to market. We believe this trend will continue to increase as people continue to leave their careers during what has now become known as the “Great Resignation.”

THE GREAT RESIGNATION

The past year has required rapid modifications for businesses to not only survive, but to adequately respond to the unique changes and new requirements presented by the COVID-19 pandemic. The Great Resignation, also known as the Big Quit, has presented record high monthly turnover rates of 2.9%, the highest rates seen since 2000, according to Harvard University Considerations of workers’ broader needs, evolving technology requirements, reconsiderations of physical workspace, and byzantine state and local tax issues have had significant impacts on all industries.

The restaurant and hospitality industry is one that has been adversely affected by these rapid changes in staffing. Being thoughtful and selective in responding to changing employee demands has been critical in 2021 but it is not enough to thrive in the future.

New York City Managing Partner and Co-Leader of the firm’s Restaurants and Hospitality Practice Stacy Gilbert stated that,

“two years ago, paying a sign-on bonus to wait or kitchen staff was unheard of. Now, it is a way to incentivize employees to come on board and work in the industry. The adoption of technology has never been more important to the survival of the restaurant industry. It enables restaurants to pivot to new revenue streams when ordinary operations are experiencing challenges.”

Some industries, like staffing, proved to thrive in an environment flooded with eager people looking to find new work. BJ Hoffman, co-leader of Citrin Cooperman's Professional Services and Staffing Practices, noted that, “many staffing firms are surprisingly flush with cash, particularly those who were in favorable industry verticals during COVID-19. Cash infusions from governmental COVID-19 related programs (Paycheck Protection Program (PPP), tax credits, local grants, etc.) have further bolstered staffing firm balance sheets. Many have paid off existing debt and are now looking for suitable investment targets.” This was not only seen in staffing, but industries like franchising, real estate, and manufacturing and distribution, leading to a surge of mergers and acquisitions.

A YEAR OF BUYING AND SELLING

It has been a year of buying and selling. 2021 saw a massive surge in mergers and acquisitions activity across all industries, particularly in government contracts, healthcare, and staffing. Even industries that continued to face multiple challenges, like restaurants and hospitality, saw a rise in M&A activity, as historical information carried weight as to what the business could do.

Real estate has proven to boom despite continued staffing struggles. Mark Mindick, Citrin Cooperman’s Real Estate Practice leader stated, “this is the best real estate market since anyone can remember. Real estate companies are achieving five-year goals in less than a year. Most of the economic factors and pandemic-related constraints have generally been great for real estate. It has also been an accelerator for struggling deals that have been either restructured or granted adjustments and modifications by lenders.” While the future for commercial real estate in large business hub cities is still uncertain, prices remain high and the sector is not currently experiencing a loss in property values.

2021 also saw a rise in more available capital, allowing those who may not have historically been buyers to suddenly buy. The PPP and the Employee Retention Credit (ERC), among others, presented companies with more available capital. Many motivated sellers recognized that valuations of their

companies were at an all-time high.

Investment bankers have been overwhelmed with the amount of owners that want to go to market. At Citrin Cooperman, our Transaction Advisory Services Practice team led by Sylvie Gadant stated, “our team went from a staff of seven to a staff of 15 in a matter of months to accommodate for the rapid rise in mergers and acquisitions. Our group worked on 140 deals in 2021, versus 70 deals on average in the past two years.”

ACCESSING THE FUTURE

The surge in business acquisitions, logistical pivots, and staffing changes have presented an ever-growing need for more robust, intelligent technology. According to a McKinsey Global Survey, many executives reported moving 20-25 times faster than previously imagined in areas like increasing the use of innovative technology in operations and building supplychain redundancies.

As 2020 required many people to make temporary arrangements to work from home, 2021 saw a drastic rise in the amount of people remaining in fully remote positions, a trend that will likely continue for years to come. The use of home routers, instead of a centralized office network, will continue to present increased cybersecurity risks and threats. As automation continues to rise and reliance on technology grows, a secure future for businesses across the board requires solid cybersecurity policies and procedures.

Mike Camacho, leader of the firm’s Technology, Risk Advisory, and Cybersecurity (TRAC) Practice, noted the importance of properly assessing a company’s cybersecurity competencies and systems as part of acquiring new businesses, an area of evaluation he often saw overlooked in 2021.

This past year presented steep learning curves, reinvention, and boundless opportunities to pivot and change. Many businesses showed an ability to thrive under a quickly changing market, and Citrin Cooperman’s partners and employees have demonstrated the ability to effectively respond to uncertainty. As the world continues to recover and shift, Citrin Cooperman is dedicated to ensuring a secure future for its clients. Though tomorrow’s business world will be anything but certain or normal, we are betting on optimism for 2022.

The U.S. cannabis industry is growing at an unparalleled pace, hitting a record $24 billion in sales in 2021, with expected annual sales of $70 billion by 2028. As the cannabis industry grows, so too does Citrin Cooperman’s expertise and industry leadership across the country. Already established as industry professionals in more mature adult-use markets such as California, Massachusetts, Michigan, Nevada, Colorado, and Maine, and medical markets such as Pennsylvania, New Jersey, and Maryland, 2021’s legislative adult-use wins will expand Citrin Cooperman’s presence even more in the years to come. With the expansion of the adult-use market into some of our key geographies such as New Jersey, New York, Connecticut, and Virginia, we continue to evolve and grow with our clients at an unprecedented pace.

As a professional services firm, we are here to help support and professionalize the industry. Investor funds are flowing into these businesses and according to Gallup, public support for legalizing cannabis is at a record high of 68%. Our services during 2021 focused both on start-up entities and financial application and tax consulting to complex international merger and acquisition activity including due diligence and quality of earnings reports. With IRS audits on the rise in the industry, proper tax compliance reporting is essential and aggressive tax positions taken will reduce the ultimate purchase price of acquisitions in this complex environment.

Our Forensic and Litigation Advisory Services Practice saw an uptick in valuation requests and litigation in the cannabis industry, while our Business Process Outsourcing Practice saw additional needs for outsourced bookkeeping, CFO work, and financial modeling. Our accounting and audit group saw the influx of bank lending into the industry which brought with it the need for privately held company financial statement assurance work. While our specialty advisory services were busy with the industry, the importance of Citrin Cooperman’s cannabis tax experts who consistently navigate the broad impacts of 280E for clients both domestically and internationally cannot be discounted.

As industry specialists, although thought leadership was mainly contained in a virtual environment, Citrin Cooperman’s team of Mitzi Keating, Harry Carpenter, Matt Martin, Bob Cohen, and Nichol Chiarella spoke at numerous events, produced podcasts, videos, and put out thought leadership pieces as the industry evolved. As the chair of the AICPA’s cannabis committee, Mitzi leads the industry direction in the accounting profession which will continue to experience unprecedented growth in 2022 and beyond.

CONSTRUCTION INDUSTRY SPOTLIGHT

During 2021, the construction industry and contractors continued to face significant challenges due to COVID-19, particularly labor shortages, rising material prices, and reduced backlog due to the availability of new projects. Inflation pressures have also slowed progress in the construction industry. As many of these issues are expected to continue in 2022, contractors need to evolve from keeping to the traditional status quo to leveraging new technologies and looking for new solutions in order to combat workforce and supply chain disruptions caused by the pandemic. Contractors that are successful in evolving will be able to improve productivity and profitability through efficient deployment of resources and streamlining processes.

Throughout 2021, Citrin Cooperman remained at the forefront of the ongoing issues, through heavy involvement with the construction community, including participation in virtual conferences and monthly Construction Financial Management Association (“CFMA”) webinars and various industry trade and surety organization workshops, to discuss industry

concerns and potential strategic solutions. Citrin Cooperman’s Construction Practice leaders also remained active board members of their respective chapters of the CFMA and various industry trade and surety organizations.

Our dedicated practice of construction professionals have been an important resource for the entire construction community, not just our own clients. In 2021, many contractors relied on various government programs to keep their businesses afloat. Citrin Cooperman’s construction professionals provided critical assistance with COVID-19 related incentive programs such as PPP and ERTC, and guided the construction community through the constant shifts presented by the pandemic. Citrin Cooperman is looking forward to continuing to provide guidance and education to our construction clients and community in 2022 to help them in their efforts to grow a sustainable and profitable future.

DIGITAL ASSET INDUSTRY SPOTLIGHT

Citrin Cooperman introduced its Digital Asset Practice in 2021, in response to the exponential growth of the cryptocurrency and digital assets market. While the price of Bitcoin grew 50% during this past year, the real industry development was the explosive growth of non-fungible tokens (NFTs) and decentralized finance.

NFTs present artists, musicians, gaming companies, and other content creators with an opportunity to sell tokenized assets directly to a global audience without the added cost of an auction house, gallery, or production company. Although NFTs existed prior to 2021, they hit the mainstream consciousness in a major way this year. Corporate involvement in NFTs has sprung up overnight, with brands such as Pepsi, Nike, Budweiser, AMC Theatres, Ubisoft, and more launching their own NFTs.

Digital assets and blockchain technology are revolutionizing the financial services industry as well. New businesses and financial products are forming, such as digital asset investment

funds, payment processors, exchanges, and token issuers. Decentralized finance (DeFi) platforms, running on blockchain technology allows market participants to “cut-out the middle man,” allowing for automated loans, brokerage services, and arbitrage opportunities for individual market participants without the need for the added costs of a third-party financial institution.

Citrin Cooperman’s Digital Asset Practice consists of over 30 dedicated professionals who have the knowledge and expertise to assist in navigating all of the related accounting, audit, and tax compliance issues that arise with cryptocurrency, tokens, and blockchain. Our team is on the pulse of the industry, actively monitoring the events that will affect you, while providing strategic guidance and a multidisciplinary approach to today’s evolving business landscape. To learn more, please reach out to cryptoadvisory@citrincooperman.com or visit our webpage

During 2021, the franchise industry continued to see many new brands coming to market as well as the increase in private equity investment at both the franchisor and multi-unit franchisee level. This allowed for investment in new technologies, expansion into new territories, and increased growth in sales, marketing, and development teams. The outlook for the franchise industry for 2022 can be summed up in just one word, “pivot.” Many of the issues that affected franchising in 2021 are expected to continue in 2022. Issues such as labor shortages, supply shortages, COVID-19 influenced consumer behavior, and constantly changing COVID-19 restrictions and regulations created a new normal. In spite of these obstacles, franchisors that choose to pivot and adapt versus continuing the status quo continue to prosper and grow at record pace, many outperforming pre-COVID-19 results. The availability and continued interest of capital markets in franchising has created new opportunities for consolidation, as well as exit strategies, especially in the services arena.

Throughout 2021, the franchise community continued to stick together and support each other, with virtual conferences, monthly International Franchise Association (“IFA”) workshops, and virtual happy hours, along with the return of several inperson conferences such as, Springboard 2021, and the Franchise Leadership and Development Conference. The Citrin Cooperman Franchising Practice remains very optimistic as to

what 2022 will bring. Our dedicated practice of professionals have been there for the entire franchise community, not just our own clients, with help related to COVID-19 related issues, PPP, ERTC, and WOTC, explaining and assisting throughout the process. Many franchisors and franchisees depended on these government programs and our professional guidance to survive. Our long-standing involvement with the IFA and the franchise community has allowed franchise committee members to write articles in various franchise magazines as well as being featured in franchise related podcasts. Our commitments and contributions to franchising were also recognized by Entrepreneur Magazine, who named Citrin Cooperman a Top 10 National Franchise Supplier for the third year in a row. Additionally, Aaron Chaitovsky, co-leader of Citrin Cooperman’s Franchising Practice, was highlighted in the selected group of “Top 100 Franchise Influencers” nationwide for 2021.

We are looking forward to continuing to provide guidance and education to our franchise clients and community in 2022 to help them in their efforts to grow a sustainable and profitable future.

HEALTHCARE INDUSTRY SPOTLIGHT

In 2021, Citrin Cooperman and Westcove Partners launched a Physician Practice Transactions Survey. The survey sought to determine the current deal trends in the Physician Practice Management (PPM) sector, with a focus on providing greater visibility to the key issues impacting both buyers and sellers as they explored potential transactions.

The general sentiment from financial investors and physician services providers towards pursuing transactions continued to be positive. Physician services providers saw continued elevation of their valuations, and the pandemic provided a necessary jolt to consider a sale or strategic partnership. However, key issues have emerged which should be taken into consideration by financial investors and physician service providers.

View our white paper to learn more about the trends we uncovered and key considerations buyers and sellers should take to successfully navigate the PPM sector during COVID-19.

MANUFACTURING AND DISTRIBUTION INDUSTRY SPOTLIGHT

Our 2021 Manufacturing and Distribution Pulse survey focused on how companies in the industry are evolving following COVID-19 and their focus areas for the future. There were three major findings from our 2021 survey:

New product and service offerings are the story of 2020 and beyond

Supply chain disruption and constraints forced businesses to pivot

A shift to e-commerce is no longer a trend, it’s a necessity to survive

As manufacturing and distribution companies plan for 2022, the keys to future growth are identified as increased utilization of e-commerce and technology, as well as sourcing products

more efficiently and with better agility through supply chain improvements. Creating transparency throughout the supply chain and utilizing artificial intelligence are areas companies are investing in, but many find reaping the benefits can take time and requires significant “scrubbing” of existing data. Lastly, ensuring companies can attract and retain talent may require leadership to change existing behaviors and expectations of their workforce, as well as adapting best-in-class technologies to supplement the workforce.

Citrin Cooperman is proud to be home to one of the leading manufacturing and distribution practices in the country. Our dedicated team leverages our deep expertise to provide a full range of assurance, tax and business advisory services to assist our clients with achieving their business goals. Our consultative approach to all services, coupled with our experience allows us to assist clients with achieving their goals in 2022 and beyond.

NOT-FOR-PROFIT INDUSTRY SPOTLIGHT

The COVID-19 pandemic has caused significant financial, operational, and emotional challenges to all businesses and individuals worldwide. Not-for-profit organizations provided essential services to their communities and became a constant for vulnerable populations. The resources and aid provided, in conjunction with the governmental initiatives surrounding healthcare, education, and other social service matters, helped maintain a sense of stability to their communities during these unprecedented times.

“Change is the only constant in the world and now, more than ever, new and creative ideas will be vital to your success so you can focus on what counts…your mission,” says John Eusanio, partner and Not-For-Profit Practice leader.

After more than a year and a half since the start of the pandemic, the importance of the not-for-profit sector and the critical services they provide to communities cannot be understated. While challenges remain due to an increased need for mission -driven services, constrained donor contributions, reduced

volunteer participation, and overall liquidity concerns, there are encouraging signs emerging for a return to normalcy, including the availability of vaccines and economic stimulus programs. Not-for-profit organizations must continue to expand on their use of technology, social media, and lessons learned during the pandemic regarding sustainability and strategy to further their vision and mission.

much promise for a revival of the restaurants and hospitality industry. In the first quarter of 2021, many restaurants had to determine how to generate a profit while operating under capacity restrictions and social distancing requirements. This led to innovative strategies to streamline operations, enhance take-out services, and improve labor and staffing practices.

By the second quarter of 2021, many consumers had grown weary of ordering take-out or delivery and dining at home. Fortunately, the restaurant industry started showing promising signs of a rebound. The second round of PPP funding became available, vaccines were more readily accessible, and several restrictions on indoor dining were lifted. Many owners made significant investments into outdoor dining arrangements to take advantage of the warmer weather. At the same time, there was a dramatic increase in cash flow. Employee Retention Tax Credit (ERTC) claims were being filed, and the Restaurant Revitalization Fund went live. Restaurant owners went from not knowing if they would be able to pay rent, to thinking that the government programs were too generous to be true. Those who benefited from these programs had more cash coming their way than ever before.

The second and third quarter summer bounce back was incredible, but owners were faced with a new labor shortage. Owners had to wait over a year to open their space to full capacity, but by the time they could do so legally, there was a significant shortage of available staff. Opening a restaurant at full capacity with limited staff threatened the quality of

to continue to operate at less than 100% capacity. The third quarter labor shortage resulted in significant wage increases, bonuses, referral commissions, and many other strategies to obtain and retain quality staff.

Government programs began tapering off through the fourth quarter of 2021 and into 2022, but the uncertainty for many still looms. Sales were strong in Q4, but the most recent wave of COVID-19 has taken a significant toll on restaurants that typically thrive during the year-end holidays. Costs are also severely inflated, which is not expected to end soon. Restaurants will need to continue to closely monitor purchases and adjust menu pricing.

The new year brings new challenges and new opportunities. Pandemic variants are continuing to pose a threat to consumer behavior and possible repercussions from more restrictions. Unprecedented labor and supply chain pressures will continue to drive restaurant trends and push operators to trim costs by shortening menus and investing in labor-saving technology. Restaurant owners and managers have remained enduringly resilient in the face of many challenges and are much more involved in their communities. Owners who continue to focus on elevating the customer experience will benefit from increased customer loyalty.

In 2021, Citrin Cooperman’s Staffing Practice launched the Staffing Industry Insights Series. Running a staffing company takes entrepreneurial zeal, a gift for motivating and retaining key personnel, and a strong will to succeed. Our staffing leadership helped walk clients through the staffing industry hot topics in a series of dynamic videos covering M&A transactions, employee retention tax credits, outsourced finance functions, state and local tax compliance issues, and more.

There are seven videos in the series. Watch them using the links below:

• Part 1

• Part 2

• Part 3

• Part 4

• Part 5

• Part 6

• Part 7

TECHNOLOGY INDUSTRY SPOTLIGHT

Throughout 2021, Citrin Cooperman continued to focus on serving technology and emerging growth companies with a dedicated group of specialists who understand the specific needs and issues these companies face. While working directly with entrepreneurs and their leadership teams has always been a hallmark of our practice, in 2021 we corralled our collective knowledge and experience to introduce an Emerging Growth Company paradigm. The goal is to implement a holistic approach to providing high-quality accounting, tax, and advisory services to our clients. The paradigm includes a robust library of resources to help early-stage companies as they face the exciting and dynamic, yet always challenging, world of taking a great idea to a brilliant and successful business opportunity.

Our strategy proved more than timely with the advent of the Great Resignation, which was a circumstance no one could have predicted or imagined prior to COVID-19. In fact, the U.S. Census Bureau recently reported that 5.4 million new business applications were filed in 2021, which broke the

record previously set in 2020, when 4.4 million new businesses were formed and far exceeded the pre-pandemic number of 3.5 million in 2019. Now, more than ever, we are working with newly minted entrepreneurs who have decided there is more to life than a traditional nine-to-five career path. These entrepreneurs aspire to build businesses that embody new leadership dynamics and reward high emotional intelligence, invite creativity, and welcome disruption. They will face many challenges as they execute their ideas, build their teams, develop go-to market strategies, and raise capital, but Citrin Cooperman is there to support their endeavors.

Practice Directory

INDUSTRIES

MAIN CONTACT

Kenneth Kirkland, Managing Partner of Industries & Markets

T: 781.817.1104

E: kkirkland@citrincooperman.com

AUTOMOTIVE DEALERSHIPS

Will Fernandez, Partner

T: 973.218.7143

E: wfernandez@citrincooperman.com

Ellen Kera, Partner

T: 914.358.3401

E: ekera@citrincooperman.com

CANNABIS ADVISORY SERVICES

Mitzi Keating, Partner

T: 508.572.0264

E: mkeating@citrincooperman.com

Harry Carpenter, Partner

T: 973.218.0500 x2333

E: hcarpenter@citrincooperman.com

CONSTRUCTION

Salvatore Leone, Partner

T: 646.695.7836

E: sleone@citrincooperman.com

Sean Killgoar, Partner

T: 781.817.1168

E: skillgoar@citrincooperman.com

Scott Derco, Partner

T: 973.218.7130

E: sderco@citrincooperman.com

DIGITAL ASSET

Mark DiMichael, Partner

T: 646.979.6095

E: mdimichael@citrincooperman.com

ENTERTAINMENT, MUSIC & SPORTS

Matthew Segreto, Partner

T: 646.979.6087

E: msegreto@citrincooperman.com

MUSIC

Mark Kaplan, Partner

T: 310.273.7769 x105

E: mkaplan@citrincooperman.com

Victor Wlodinguer, Partner

T: 646.695.7829

E: vwlodinguer@citrincooperman.com

FILM AND TELEVISION

Wayne Mejia, Partner

T: 646.695.7828

E: wmejia@citrincooperman.com

Arnie Herrmann, Partner

T: 2646.695.7828

E: ahermann@citrincooperman.com

SPORTS

Douglas J. Cammarano, Partner

T: 646.839.5993

E: dcammarano@citrincooperman.com

ROYALTY AUDIT & CONTRACT COMPLIANCE

Christopher Hull, Partner

T: 347.505.6359

E: chull@citrincooperman.com

FINANCIAL SERVICES

Alexander Reyes, Partner

T: 646.695.7842

E: areyes@citrincooperman.com

PRIVATE EQUITY AND CAPITAL MARKETS

Alexander Reyes, Partner T: 646.695.7842

E: areyes@citrincooperman.com

INDEPENDENT SPONSORS

Sylvie Gadant, Partner

T: 973.218.7178

E: sgadant@citrincooperman.com

Shawn M. Howard, Partner

T: 301.834.2489

E: showard@citrincooperman.com

FRANCHISING

Aaron Chaitovsky, Partner

T: 646.695.7820

E:achaitovsky@citrincooperman.com

Michael Iannuzzi, Partner

T: 646.979.6079

E: miannuzzi@citrincooperman.com

GOVERNMENT CONTRACTING

Shawn Howard, Partner

T: 301.834.2489

E: showard@citrincooperman.com

Sirena Johnson, Partner

T: 301.834.2491

E: sjohnson@citrincooperman.com

HEALTHCARE

John Bryan, Partner

T: 914.517.4445

E: jbryan@citrincooperman.com

Michael Criscione, Partner

T: 401.567.2128

E: mcriscione@citrincooperman.com

MANUFACTURING & DISTRIBUTION

Mark L. Fagan, Partner

T: 914.584.1451

E: mfagan@citrincooperman.com

John P. Giordano, Partner

T: 347.505.6351

E: jgiordano@citrincooperman.com

Mark Henry, Partner

T: 781.817.1179

E: mhenry@citrincooperman.com

MARITIME, SHIPPING AND LOGISTICS

Dmitry Bogdashevsky, Partner

T: 818.461.5214

E: dbog@citrincooperman.com

NOT-FOR-PROFIT

John Eusanio, Partner

T: 646.979.6091

E: jeusanio@citrincooperman.com

GOVERNMENTAL

J. Michael Stephens, Partner

T: 240.858.8772

E: mstephens@citrincooperman.com

PROFESSIONAL SERVICES

BJ Hoffman, Partner

T:267.479.0115

E: bjhoffman@citrincooperman.com

Michael Zyborowicz, Partner

T: 267.479.0139

E: mzyborowicz@citrincooperman.com

ARCHITECTURE & ENGINEERING

Jeff Stuart, Director

T: 914.949.2990 x5143

E: jstuart@citrincooperman.com

LAW FIRMS

Scott Rutter, Partner

T: 646.695.7811

E: srutter@citrincooperman.com

STAFFING

BJ Hoffman, Partner

T: 267.479.0115

E: bjhoffman@citrincooperman.com

Michael Napolitano, Partner

T: 973.218.7147

E: mnapolitano@citrincooperman.com

Robert A. Schneider, Partner

T: 646.695.7819

E: rschneider@citrincooperman.com

Michael Zyborowicz, Partner

T: 267.479.0139

E: mzyborowicz@citrincooperman.com

REAL ESTATE

Mark Mindick, Partner

T: 646.695.7896

E: mmindick@citrincooperman.com

RESTAURANTS AND HOSPITALITY

Stacy Gilbert, Managing Partner, New York City Office

T: 212.697.1000 x6136

E: sgilbert@citrincooperman.com

Roy Tumpowsky, Consultant

T: 646.979.6160

E: rtumpowsky@citrincooperman.com

Bob Gilbert, Partner

T: 973.218.7164

E: rgilbert@citrincooperman.com

TECHNOLOGY

Michael E. Rhodes, Partner

T: 646.695.7812

E: mrhodes@citrincooperman.com

SPORTS TECH

Michael E. Rhodes, Partner

T: 646.695.7812

E: mrhodes@citrincooperman.com

SERVICES ASSURANCE

All audit and attest services are provided by Citrin Cooperman & Company, LLP.

MAIN CONTACTS

Patricia A. Cummings, President, Citrin Cooperman & Company, LLP

T: 347.505.6307

E: pcummings@citrincooperman.com

Joseph Turkewitz, Partner, Audit and Attest Practice Leader

T: 646.979.6150

E: jturkewitz@citrincooperman.com

Barbara Stofflet, Partner-in-Charge of Quality, Citrin Cooperman & Company, LLP

T: 267.479.0122

E: bstofflet@citrincooperman.com

AUDIT AND ATTEST

- AGREED-UPON PROCEDURES

- EMPLOYEE BENEFIT PLAN AUDIT

- FINANCIAL STATEMENT AUDIT

- PUBLIC COMPANY AUDIT SERVICES

- REVIEW AND COMPILATIONS

TECHNICAL ACCOUNTING CONSULTATION AND SEC READINESS

TAX MAIN CONTACT

Joe Bublé, Partner, Tax Practice Leader

T: 646.695.7876

E: joeb@citrincooperman.com

FIRM TAX OPERATIONS

Heyam Janell, Partner

T: 401.421.4800 x2106

E: hjanell@citrincooperman.com

COMMERCIAL TAX SERVICES

MERGERS AND ACQUISITIONS TAX

Shawn M. Howard, Partner

T: 301.834.2489

E: showard@citrincooperman.com

PARTNERSHIPS

Andy Tarquinio, Partner

T: 646.695.7859

E: atarquinio@citrincooperman.com

S CORPORATIONS

Popi Barrett, Partner

T: 781.817.1134

E: pbarrett@citrincooperman.com

C CORPORATIONS

John C. Genz, Partner

T: 347.505.6308

E: jgenz@citrincooperman.com

TAX PROVISIONS

John C. Genz, Partner

T: 347.505.6308

E: jgenz@citrincooperman.com

NOT-FOR-PROFIT TAX

Paula Vuksic, Partner

T: 973.218.7123

E: pvuksic@citrincooperman.com

IRS REPRESENTATION AND TAX CONTROVERSIES

Craig Cafaro, Partner

T: 347.505.6311

E: ccafaro@citrincooperman.com

INTERNATIONAL TAXATION SERVICES

Leon Dutkiewicz, Partner

T: 215.545.4800 x4118

E: ldutkiewicz@citrincooperman.com

IVDP

Leon Dutkiewicz, Partner

T: 215.545.4800 x4118

E: ldutkiewicz@citrincooperman.com

STATE & LOCAL TAX (SALT)

David Seiden, Partner

T: 212.225.9505

E: dseiden@citrincooperman.com

PRIVATE CLIENT SERVICES

Michael Dooley, Partner

T: 212.697.1000 x1248

E: mdooley@citrincooperman.com

HIGH NET WORTH INDIVIDUALS

Patrick Daly, Partner

T: 646.695.7877

E: pdaly@citrincooperman.com

Ronald Hegt, Partner

T: 914.358.3342

E: rhegt@citrincooperman.com

Edward Berardi, Partner

T: 781.817.1141

E: eberardi@citrincooperman.com

TRUST AND ESTATE SERVICES

Howard Klein, Partner

T: 914.517.4242

E: hklein@citrincooperman.com

FILM PRODUCTION TAX INCENTIVES

John C. Genz, Partner

T: 347.505.6308

E: jgenz@citrincooperman.com

Danielle Russo, Partner

T: 646.698.7849

E: drusso@citrincooperman.com

ADVISORY

MAIN CONTACT

Richard DeRienzo, Managing Partner, Advisory Services

T: 401.567.2184

E: rderienzo@citrincooperman.com

BUSINESS MANAGEMENT AND FAMILY OFFICE

Matthew Segreto, Partner

T: 646.979.6087

E: msegreto@citrincooperman.com

Jamie Montanio, Partner

T: 818.461.5218

E: jmontanio@citrincooperman.com

BUSINESS PROCESS OUTSOURCING

Steve Ronan, Partner

T: 203.628.2439

E: sronan@citrincooperman.com

FORENSIC AND LITIGATION ADVISORY SERVICES

Ken Yormark, Partner

T: 203.912.5295

E: kyormark@citrincooperman.com

HEALTHCARE ADVISORY

Heather Spillman, Partner

T: 404.849.7787

E: hspillman@citrincooperman.com

ROYALTY COMPLIANCE AND CONSULTING

J. Christopher Hull, Partner

T: 347.505.6359

E: chull@citrincooperman.com

STRATEGY AND BUSINESS TRANSFORMATION

Steve Ronan, Partner

T: 203.628.2439

E: sronan@citrincooperman.com

TECHNOLOGY, RISK ADVISORY, AND CYBERSECURITY

Michael Camacho, Partner

T: 401.567.2126

E: mcamacho@citrincooperman.com

TRANSACTION ADVISORY SERVICES

Sylvie Gadant, Partner

T: 973.218.7178

E: sgadant@citrincooperman.com

VALUATION ADVISORY SERVICES

Mandeep Trivedi, Partner

T: 646.695.7851

E: mtrivedi@citrincooperman.com

BUSINESS ADVISORY SOLUTIONS

Will Fernandez, Partner

T: 973.218.7143

E: wfernandez@citrincooperman.com

These materials provided by Citrin Cooperman, are intended to provide general information on a particular subject or subjects and are not an exhaustive treatment of such subject(s) and are not intended to be a substitute for reading the legislation or accounting standards themselves, or for professional judgment as to adequacy of disclosures and fairness of presentation. The materials are being provided with the understanding that the information contained therein should not be construed as legal, accounting, tax or other professional advice or services. Before making a decision or action that may affect you or your business, you should consult with Citrin Cooperman, or another qualified professional advisor. The materials and the information contained therein are provided as is, and Citrin Cooperman makes no express or implied representations or warranties regarding these materials or the information contained therein. In no event shall Citrin Cooperman, its affiliates, officers, partners, and employees be liable to you or anyone else for any decision made or action taken in reliance on the information provided in these materials. The information and content provided in these materials is owned by Citrin Cooperman and should only be used for your personal or internal use and should not be copied, redistributed, or otherwise provided to third parties.

"Citrin Cooperman" is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).

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