ACS_FOLDER_STEP SHEET

ACQUAVELLA, CHIARELLI, SHUSTER & CO., LLP
Certified Public Accountants and Advisors
PERSONAL SERVICE KNOWLEDGEABLE


FIRM PROFILE
Acquavella, Chiarelli, Shuster & Co., LLP was founded in New York City in 1986 by Joseph P. Acquavella, Santo Chiarelli and Samuel Shuster, combining diverse backgrounds from national and mid-size Accounting firms as well as from the Internal Revenue Service and private industry. At Acquavella, Chiarelli, Shuster & Co., LLP (ACS), we take your business and personal finances seriously. As business and financial consultants we solve problems creatively and effectively. As accountants and auditors, we provide technical expertise, insight,
and service of the highest quality. ACS is large enough to have the resources and personnel to resolve the most complicated tax, auditing and accounting issues, but also in touch with management providing personal attention, responsive service, and senior management involvement. ACS is meeting the challenges of the 21st century with a continuously expanding breadth and depth of services. In 2014 Acquavella, Chiarelli, Shuster & Co., LLP is proud and grateful to be celebrating its 28th year in business!
Industries Serviced, but not limited to:
Construction Financial Services Health Care
Law Firms
Life Sciences
Manufacturing & Distribution Not-For-Profit Organizations Real Estate
Sports & Entertainment Technology Companies
www.acsaccounting.com
517 Route One Suite 1000 Iselin, NJ 08830 732-855-9600
One Penn Plaza 36th Floor
New York, NY 10119 212-867-1319


MANAGEMENT ADVISORY
We assist our clients in planning the information needs of their organizations and determine how best to identify, assem- ble, analyze and manage the data required to meet those needs. The external environment contains much useful informa- tion, but the key information is generated inside a business, as a by-product of its operations. We identify that data and show how it can be used by executives. Management advisory requires an understanding of the dynamics of a business situation, an analytical approach to problems and issues, and the creativity to develop the most effective solutions and recommendations for our clients.
Advisory Services Include:
Formulating basic goals and reviewing them periodically.
Providing cost analysis, feasibility studies, budgeting and forecasting. Projecting both short-term and long-term capital requirements. Developing accounting systems and financial controls.
Assisting in bankruptcies and corporate reorganizations.
Contact: Samuel Shuster at [email protected]
www.acsaccounting.com
517 Route One Suite 1000 Iselin, NJ 08830 732-855-9600
One Penn Plaza 36th Floor
New York, NY 10119 212-867-1319


TAX SERVICES
Preparation, Planning and Audit Representation
At ACS we pride ourselves on our service, commitment and expert knowledge in the area of tax. We always emphasize proactive tax analysis, with year-round tax planning as a rule. Our professional staff is trained to spot opportunities where a client can save tax dollars. We work closely with our accounting and audit staff throughout the year to recognize new opportunities and avoid dangerous pitfalls in these ever changing times. Our knowledge base spans decades of experience amalgamated with today’s technology and ever continuing education.
ACS Tax Services Include:
Tax Planning & Preparation International Tax
State & Local Tax
Estate Planning
IRS Controversy
Contact: Joseph P. Acquavella at [email protected]
www.acsaccounting.com
517 Route One Suite 1000 Iselin, NJ 08830 732-855-9600
One Penn Plaza 36th Floor
New York, NY 10119 212-867-1319


ACCOUNTING & AUDITING
Financial Reporting:
At ACS we provide Audit, Review, Compilation and Attestation Reports.
Stockholders, private investors and creditors have different levels of risk tolerance. At ACS we provide different levels to suit our client's needs.
Financial and Estate Planning:
ACS provides a complete range of advisory and consulting services to assist you with the challenges of financial and estate planning. We stay abreast of current tax laws throughout the year so that you may minimize your tax liabilities and maximize opportunities. We see our client relationships as an ongoing partner- ship, and strive to provide superior service.
Contact: Samuel Shuster at [email protected] Santo Chiarelli at [email protected]
www.acsaccounting.com
517 Route One Suite 1000 Iselin, NJ 08830 732-855-9600
One Penn Plaza 36th Floor
New York, NY 10119 212-867-1319


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With our team of consummate professionals, we have dedicated ourselves to representing mortgage lenders with access to skilled strategic partners and services, integrated with the highest quality compliance, financial, and operational advice. We have established a niche in this market by securing the best resources and by forging relationships with all the key organizations and members in the industry. Our reputation precedes itself as we lead the industry in our expertise, while guiding our clients in achieving their goals.
Our client base includes mortgage banking firms, securities and real estate hedge funds. We have represented closely held and national mortgage banking firms.
The constantly changing regulatory environment has created unique challenges to mortgage bankers in their desire to remain compliant with the various organizations that govern them. In order to respond to the growing complexity of the rules and regulations issued by Federal Housing Association, U.S. Department of Housing and Urban Development and State banking departments, it has become imperative for these firms to engage professionals that have specialized knowledge in their industry.
Acquavella, Chiarelli, Shuster & Co., LLP has responded to this demand by forming the Mortgage Banking Group (ACS-MB).
ACS-MB’s mission is to stay on the cutting edge of the planning and compliance issues that directly affect the mortgage banking community. Our professionals receive specialized training and deliver specialized services to your Company.
Attestation Services
Financial Statement Audits
Agreed-Upon Procedures Audits
Compliance Auditing for Servicing Entities
Entity Selection and Corporate Restructuring Services Representation Before Regulatory Bodies
Accounting and Consulting Services
Our Accounting and Consulting services include but are not limited to: HUD LEAP submissions
Fannie/Freddie/Ginnie MBFRF quarterly filings
Loan loss reserve reviews and calculations
Loan Originator Compensation consulting to include the mandated
www.acsaccounting.com
changes imposed by Regulation Z as well as the “Dodd-Frank Wall Street Reform Act” Best Efforts-to-Mandatory-AOT pipeline risk management strategies
Pipeline Hedging Effectiveness
Accounting and Taxation of IRLC, Derivatives, OMSR and Fair Value Measurements
Consultation for Best Practices Regarding Back Office Operations
Tax Services
Tax Preparation and Compliance Tax Planning and Consulting
Contact Santo Chiarelli at [email protected]
517 Route One Suite 1000 Iselin, NJ 08830 732-855-9600
One Penn Plaza 36th Floor
New York, NY 10119 212-867-1319


Firm Partners
Joseph P. Acquavella, CPA, M.S. Tax
Joseph P. Acquavella, Managing Tax Partner, has been providing Tax advice and consulting services to corporations, partnerships and high net worth individuals for over 30 years.
Mr. Acquavella has worked extensively with the Internal Revenue Service Criminal and Collection Division on civil and criminal tax matters.
Before Mr. Acquavella’s career with ACS & Co., Mr. Acquavella had a distinguished career of government service as an Internal Revenue Agent assigned to a “Strike Force” group in the Branch 9 Examination Division Manhattan District. This experience has allowed him to gain valuable insight to how the US Attorney Offices in the Southern District evaluate a case for prosecution.
His experience with the Internal Revenue Service has allowed him to achieve extraordinary results for clients at all levels of the Internal Revenue Service Examination Division as well.
A founding partner of ACS, he has published articles in the Practical Accountant and presented various Tax seminars to accountants, bankers and clients in many industries. He also served as a lecturer for CW Post Graduate School and Fairleigh Dickinson Graduate School. In addition, he has served as an adjunct professor at City University of New York.
Joseph is a member of the American Institute of Certified Public Accountants Tax Division. He is also a member of the New York State Society of Certified Public Accountants, the New Jersey Society of Certified Public Accountants and he serves on the New York State Society Taxation of Financial Instruments Committee. Joseph was the past president of the Metropolitan Credit Club and member of the Phoenix Credit Club.
Formerly, he was a member of the tax departments of New York CPA firm Berenson & Co. LLP (now part of J.H. Cohn LLP), Eisner & Lubin LLP and the Trust Division of Manufacturers Hanover. He also served as an Internal Revenue Agent Instructor in the Manhattan District. He holds a M.S. in Taxation from Long Island University and a B.S. in Accounting from Brooklyn College, New York City. He also holds a series 7 NASD license and series 66.
Email: [email protected]
Santo Chiarelli, CPA
Santo Chiarelli is an Accounting and Auditing Partner at ACS and is also the Partner in charge of ACS’s Mortgage Banking Services Division. Santo has been providing accounting and auditing services to specialty industries including Mortgage Banking, Debt Servicing, Credit Card Collection, Construction Contracting, Cemetery Management and Asset Based Lenders as well as forecasting, budgeting and business plan- ning for closely held businesses.
A founding partner of ACS, Santo began his professional career as an audit member of the New York CPA firms Yohalem, Gillman & Company LLP (now part of Anchin Block & Anchin) and Berenson, Berenson, Adler LLP (now part of CohnReznick).
Santo served as an adjunct accounting professor at Wagner College, Staten Island, New York as well as Fairleigh Dickinson Graduate School, Madison, New Jersey.
Santo holds a B.B.A. in Accounting from Bernard Baruch College, New York City. He is a member of the American Institute of Certified Public Accountants, New York State Society of Certified Public Accountants and New Jersey Society of Certified Public Accountants. Santo is also a member of the Mortgage Bankers Association and the New Jersey Mortgage Bankers Association. He is highly active in his community where he served as President and Co-founder of a youth athletic club and has served as treasurer of various charitable organizations.
Email: [email protected]
Samuel Shuster, CPA, CMA
Samuel Shuster is an Accounting and Auditing Partner at ACS. Samuel has extensive experience in a wide array of industries, including transportation, healthcare, legal and medical professions, finance, wholesale and apparel industries, as well as forecasting, budgeting and business planning for closely held businesses. He is also engaged in financial planning services and provides various services for the firm’s closely held business clients. Samuel is ACS’s expert in internal accounting systems and procedures.
A founding partner of ACS, Samuel was an auditor with the then CPA firm of Laventhol Horwath as well as with Berenson, Berenson, Adler LLP (now part of JH Cohn). Additionally, he worked as a controller of a finance company. Samuel has served as a political campaign treasurer as well as serving in various capacities for charitable institutions in the New York area.
Samuel holds a B.S. in accounting from the University of Colorado and has his CMA certification. He is a member of the American Institute of Certified Public Accountants, the New York State Society of Certified Public Accountants and the International Association of Advisors in Philanthropy.
Email: [email protected]


QUALITY TRUSTWORTHY EXPERTS
www.acsaccounting.com
517 Route One Suite 1000 Iselin, NJ 08830 732-855-9600
One Penn Plaza 36th Floor New York, NY 10119 212-867-1319