Personnel Briefs – November 2018

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NBT Wealth Management has hired Beth Hajeck and Sheila Grant who will be based in NBT’s Glens Falls Office.

Hajeck will serve as retirement plan services manager with responsibility for overseeing NBT’s retirement plan services growth and development in the Glens Falls and Capital Region area. She has over 30 years of experience in the financial services industry. 

Hajeck comes to NBT from Glens Falls National Bank where she served as vice president and retirement plan officer,  responsible for administration of qualified retirement plans, IRAs and investment management accounts. 

A resident of Queensbury, Hajeck is the secretary for the Glens Falls Senior Citizens Center board of directors and is a member of the Estate Planning Council of Northeastern New York.

Grant will serve as senior retirement plan services administrator with responsibility for administrating plans for customers and business clients in the Glens Falls and Capital Region area. 

She has over 20 years of experience in retirement plan services. Grant comes to NBT from Glens Falls National Bank where she served as vice president and retirement plan officer, and was responsible for administration of qualified retirement plans, IRAs and investment management accounts. 

Prior to that she was an attorney with the Goldstein Law Firm PC. Grant earned her bachelor’s degree from SUNY Plattsburgh and earned her Juris Doctor from the Albany Law School. A resident of Queensbury, Grant is a member of the Justinian Society.

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Four Companies Honored At Washington County Business Awards Luncheon Event

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Representatives of Adirondack Studios, Broadway Upstate, Hunt Companies Inc. and Battle Hill Brewing Co. pose with their Washington County Business Award plaques.
Courtesy ARCC

The Washington County Local Development Corp. and the Adirondack Regional Chambers of Commerce honored the winners and nominees of the 2018 Washington County Business Awards at a luncheon on Thursday, Oct. 25, at the Whitehall Athletic Club in Whitehall.

With over 75 people in attendance, the ARCC and Washington County LDC presented slate-carved awards to the winners of the four categories

Adirondack Studios in Argyle won in the Professional Business of the Year category.

Other nominees in that category were Capital Tractor Inc., Golden Goal Sports Park, Irving Tissue and Morcon Tissue.

Broadway Upstate in Hudson Falls was the recipient of the   Rookie Business of the Year ward.

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Gift Basket Company Grows From At-Home Business To A New Storefront In Queensbury

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This is an example of a gift basket done by Sharp Presents for NBT Bank. Owner James Joseph says corporate and business-to-business work is a big portion of his business.
Courtesy Sharp Presents

By Jennifer Farnsworth

A gift store that has been operating online for the past 16 years now has a new storefront at 1088 Route 9, Queensbury.

Sharp Presents owner James Joseph credits his success to good timing, a great location and a knack for knowing what people want.

“Business has increased a fair amount since going from residential studio to storefront in September, but truth be told I had not been looking for a storefront or even had plans for a future storefront,” he said.  “It all just sort of fell in my lap, right time, right location, right  price.”

Sharp Presents was re-established in August of 2016 after Joseph spent the summer working with the Gideon Putnam resort on a multi-order design for their VIP clients.  

Joseph said Sharp Presents is the “rebirth” of a similar business that he established in Michigan roughly 16 years ago.

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Anne Saile Becomes First Recipient Of Legacy Award Bestowed By The Hyde Museum

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Anne Saile is the interim director of The Hyde Museum and the first Legacy Award Winner.
Courtesy The Hyde

Updated December 6, 2018

The Hyde Museum  honored Interim Director Anne Saile with its inaugural Legacy Award for her contributions to furthering the museum’s mission of enriching lives with art at its annual gala.

The museum on Oct. 26 celebrated its past and started a new tradition at the event. The Hyde retraced the steps of museum founder Charlotte Pruyn Hyde and her husband, Louis, as they traveled the world to build their incredible art collection.

The gala included an exhibit of Hyde history, with travel mementoes, clothing, home furnishings, letters, and journals celebrating the Museum’s storied history.

Saile was recognized for her leadership through a transition period. During her tenure, The Hyde has thrived, with attendance on target to surpass that of 2017 by 25 percent, children’s programs flourishing, and increasingly innovative programming giving visitors new ways to experience art museum officials said.

The Legacy Award honors individuals who advance the legacy of the museum and inspire others with their leadership, passion, commitment, and creativity.

“I can think of no one more deserving of this special honor than our leader and friend, Anne Saile,” said David Howson, chairman of the museum’s board of trustees.

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Warren County Nears New Contract With Airport FBO, Anticipates Revenue Increases

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County officials are close to a contract that will allow Rich Air to continue as the Floyd Bennett Memorial Airport’s fixed based operator (FBO) for the next 10 years.
Photo by Terry Williams

By Christine Graf

After more than a year of negotiation, the Floyd Bennett Memorial Airport, also known as the Warren County Airport has reached a memorandum of agreement that will allow Rich Air to continue as the airport’s fixed based operator (FBO) for the next 10 years. 

Rich Air will then have the option of extending the contract for an additional 10 years. According to airport manager Ron DeGraw, details of the agreement are being finalized.

“It’s currently under review,” he said. “There has been a tentative approval, but the county attorney is working on the details of the agreement. The agreement will then be given to Rich Air for review.”

A negotiation team comprised of county supervisors negotiated the details with Rich Air owner Richard Schermerhorn. Although he was not part of the negotiation team, DeGraw served as a resource to team members.

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Adirondack Film Festival And Adirondack Film Commission Get State, Local Funding

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The Charles R. Wood Theater in Glens Falls is one of the venues used for the annual Adirondack Film Festival. This year’s festival took place in October.
Courtesy Charles R. Wood Theater

New York State Homes & Community Renewal and the city of Glens Falls announced funding awards to two nonprofit organizations at the opening of the third annual Adirondack Film Festival at the Wood Theater in downtown Glens Falls.

The Adirondack Film Commission received $39,158, with a 25 percent local match. Funding will assist with website creation and social media, promotion, and familiarization tours through Glens Falls and Warren County.

Accepting the check for the Film Commission was film commissioner Andrew Meader.

 The Adirondack Film Festival received $39,158 with 25 percent local match. Funding will assist with marketing, promotion of the festival, licensing, and expanding venues within the downtown area.

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‘Birch Bark Eatery’ Vegan Restaurant Opens In Queensbury, Offering Lunch And Dinner

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Tania Sharlow is the owner and operator of Birch Bark Eatery.
Courtesy Advocate LLC

By Jill Nagy

Business is “exceeding our expectations” at a newly opened vegan restaurant in Queensbury, according to its owner, Tania Sharlow. 

The restaurant, the Birch Bark Eatery, opened Oct. 1 at 989 Route 9.

The vegan menu avoids meat and other animal products like eggs and dairy. Sharlow said she relies heavily on vegetables, beans and “rare flowers” in her cooking. 

However, she also offers “imitation comfort food,” such as the “impossible burger” and imitation meat products made of seitan, a gluten-rich wheat product that can be seasoned like meat and has a similar texture. The burger sizzles on the grill and sheds blood-like juices when bitten into. 

Sharlow estimated that about a third of her clients are, like her, committed to a vegan diet. Another one-third or so, are vegetarian. The rest, she feels, are curious.

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Advisers Say Investors Should Not Panic Even When Stock Market Shows Signs Of Dropping

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Dan Hazewski Sr. of Legacy Planning Partners in Glens Falls.
Courtesy Legacy Planning Partners

By Jill Nagy

“Keep calm. Stay the course,” advised financial advisor Dan Hazewski Sr. of Legacy Planning Partners in Glens Falls regarding investment in the stock market as the end of 2018 draws near.

“There is nothing abnormal going on,” he said on a day when late October’s falling stock market was recovering. “Volatility is a constant.”

“When the market was down, I went out and bought things for my clients. If you make good investment choices and you leave them alone, they’re going to grow,” he advised.

He said the economy is fundamentally sound.

“I don’t give credit to either Obama or Trump,” Hazewski said, “but to American ingenuity and creativity. Developments like technology, artificial intelligence, and robotics are driving our economy.”  

He noted, however, that Obama did not get enough credit for “riding us through the storm” after the 2008 recession.

“The economy is as strong as it has ever been and the best thing to do at this point in time is nothing,” Hazewski urged. Where he sees the normal gyrations of the investment market, “pundits like to find reasons” for concern.

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Business Report: Closing Out 2018 Finances

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Stephen Kyne is a partner at Sterling Manor Financial in Saratoga Springs.

By Stephen Kyne

The end of another year is rapidly approaching, and just as you cross items off your checklist and prepare your home for the winter, it’s also important to complete maintenance items to prepare your finances to close-out 2018.

An often-overlooked task is to review your beneficiary declarations each year. Families grow, as new members are added, and shrink with death and divorce, which means that beneficiary and transfer-on-death declarations can easily become outdated and no longer reflect your true wishes. 

Since these declarations are a matter of contract, they will overrule what your Will may say. So, even if you’ve updated your will to exclude an ex-spouse, but you left them as beneficiary on your IRA, your new spouse won’t be able to inherit those assets, but the ex will, and it can’t be challenged in probate. 

Another piece of financial housekeeping is to begin to gather documents you’ll be needing just after the new year to prepare your taxes. Compile receipts for medical bills, tuition payments, child care and charitable contributions, among others.

While many of us will no longer be able to itemize deductions due to the new tax law, there are credits for things like child care and education expenses which you may still be eligible for. For those with large medical bills, or who have been particularly philanthropic this year, you may still be able to itemize, so it is important to have those receipts handy.

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Business Report: Plan Now For Tax 2018 Taxes

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Judy A. Cahee is a CPA and partner with BST & Co.

By Judy A. Cahee

Managing your taxes is one of the most stressful aspects of being a small business owner. Waiting until the last minute will only make the process worse and can often result in a larger tax bill in the long run. Reduce your stress by planning in advance and implementing top tax saving tips now.

First and foremost, now is the time to contact your tax advisor and learn how the Tax Cuts & Jobs Act impacts your business. 

Although the law was enacted in December 2017, many provisions are effective beginning with the 2018 tax year. A lot has changed. Don’t make the mistake of waiting until December to understand how the changes impact you or to identify tax planning moves that can reduce your tax bill. 

Here are some key considerations:

Choice of entity review.

There are two major changes that impact whether the type of entity you own remains the best choice for tax purposes. Changing the classification of your business takes careful planning. 

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