Saratoga Business Journal

IT Company Enginuity Technologies Opens, Serving Saratoga Springs, Ballston Spa Area

February 9, 2018February 9, 2018

Jayson Greco, right, former chief technology officer for Ayco in Saratoga Springs, started Enginuity Technologies. he poses with Scott Marcella at the Van Dam Street office.
©2018 Saratoga Photographer.com

By Jill Nagy

Jayson Greco, former chief technology officer for Ayco in Saratoga Springs, has started a company to provide information technology services for small businesses.

Enginuity Technologies offers a range of services from a basic consultation to full management of a company’s IT structure.

Greco has some 20 years of experience in the field.

“This is something I’ve wanted to do for several years,” he said. Over time, he has done side projects of his own, but this is the first time solo business venture.

He will work out of an office building at 77 Van Dam St., Saratoga Springs, near the hospital. There is a small window in front but, so far, the only sign is in the building lobby. The decor is “modern, clean, with artwork representing things important to me, he said.

Sports 4 All Store In Saratoga Springs Offers Sports Memorabilia, Apparel And Equipment

February 9, 2018

An employee at Sports 4 All displays a vintage Mickey Mantle baseball card.
©2018 Saratoga Photographer.com

By Maureen Werther

Sports 4 All is a new sporting goods and memorabilia shop located at 78 Church St. in Saratoga Springs.

Its owner, John Vrana, has been in the business for more than 13 years and plans on growing his business in the region.

Originally from Collingswood, N.J., Vrana is a big in fan of thoroughbred racing and was a frequent vacationer in the Spa City for years before deciding to move here permanently about a year ago. He ran a similar business in New Jersey for more than a dozen years, with an inventory consisting of autographed items such as baseballs, batting helmets and bats, and other items that are favorites with sports fans.

The local store also offers silk-screening and embroidering, sports apparel and equipment.

Vrana said that he also buys, sells and trades sports memorabilia.

‘Good Eats’ In Ballston Spa Offers Breakfast, Lunch Dishes With Middle Eastern Influence

February 9, 2018February 9, 2018

Matt Akari, center, and Ranan Akari, right, own and operate Good Eats, in Vallston Spa the combines American food with Middle Eastern specialties. They pose in the store with Sue Briggs.
©2018 Saratoga Photographer.com

By Liz Witbeck

Good Eats, a restaurant that recently opened in Ballston Spa, combines American diner classics with Middle Eastern specialties.

Good Eats is located at 11 Prospect St. Matt and Ranan Akari own the building and business. Previously, the space had been rented out to Willow’s Bistro. That restaurant went out of business last June.

The Akaris have lived in Ballston Spa for 23 years. They also operate the gas station next door to the restaurant, and have been in business there since they first moved to town.

“It was his idea to start the restaurant, not mine,” Ranan said of her husband. “I cook a lot in the house. Every night I am cooking.”

“We owned the building. We could either open up the restaurant ourselves or rent it out. I think we can do it,” said Matt.

Software Programs Are Important To Accountants In Efforts To Stay Abreast Of Tax Law Changes

February 9, 2018

Melinda Bucknam, left, and Dawn Rodecker are partners in Bucknam & Rodecker CPAs in Saratoga Springs. Bucknam says sophisticated software leads to more productivity.
©2018 Saratoga Photographer.com

By Maureen Werther

The federal tax bill that passed the House and Senate in the final weeks of 2017 had accounting firms of all sizes scrambling to read, understand and interpret the new legislation for clients, with most working long hours through the holiday season to ensure their clients would be in compliance with the new law.

Dan Kumlander, of Kumlander, Donofrio, Hay, Pehl CPAs, LLP, on Route 9 in Malta, said that the passage of the new tax laws caused what he referred to as a “scramble” to ensure that planning for clients was being done correctly and in keeping with those new laws.

“We’ve tried to lessen the tax liability as much as possible for our clients and make sure they take advantage of every possible tax savings. When the IRS makes these announcements, we all scramble,” said Kumlander.

He said fortunately, the new changes did not affect 2017. However, they will have a big impact on 2018-2025. He said his clients are all, understandably, looking for clarity.

One big question that arose for clients was whether to pay their 2018 real estate taxes in advance. Kumlander said that making the pre-payment would not have benefitted all their clients. He also added that the IRS mandate that taxes had to be assessed in the same year they were being paid set off an even bigger scramble.

Business Report: Maximizing IRA Wealth In Retirement

February 9, 2018

Jane Marie Schaeffer is a senior associate with Herzog Law Firm PC.
Courtesy Herzog Law Firm PC

By Jane Marie Schaeffer, Esq.

As you approach retirement, you will be faced with choices about your IRA plans, and you will have many questions, such as how much will you be required to withdraw every year, and how will your distributions be taxed. This article will address some of those questions, and give you the information you need to make smart choices about your retirement plan.

1. When do I need to take withdrawals from my IRA?

You need to start taking distributions from your IRA the year that you turn age 70½. The distributions that you are required to take are called Required Minimum Distributions, or RMD. The distributions must be taken by April 1 of the year following the year in which you turn age 70½. So, for example, if you turn 70 on June 1, then you will turn 70½ on Dec. 1. You will need to take a RMD for 2018, but you have until April 1, 2019, to take the distribution. After the first year, distributions from your IRA must be taken by Dec. 31 each year.

Martin Deposition Services In Malta Marks 50th Year Serving Court System In New York

February 9, 2018

Donna Martin founded Martin Deposition Services in 1978.
Courtesy Martin Disposition Services

Martin Deposition Services in Malta, a court reporting agency in the Capital Region, is celebrating its 50th year serving the legal community throughout the state.

Martin Deposition Services was founded in 1968 by Donna Martin, a certified shorthand reporter and notary public who served as a senior reporter for the Unified Court System of New York and was the first female reporter in the 4th Judicial District.

The business, which started as an agency sending court reporters to lawyer’s offices and court rooms, has expanded to include suites, where attorneys and businesses have the opportunity to rent nicely appointed suites for the purpose of holding depositions, legal video services, video conferencing, meeting room rentals and also avail themselves of virtual office solutions.

Property Manager Moves Into Development With Plans For 28 New Single-Family Homes

February 9, 2018

A total of 28 single family homes will constitute Schuyler Hills, a conservation subdivision off of Route 29 (on the left of the map) in the Town of Saratoga.
Courtesy Gerry Magoolaghan

By Jill Nagy

After years of managing other people’s subdivision developments, Gerry Magoolaghan is striking out on his own as a developer with a 100-acre housing development off Route 29 in the Town of Saratoga.

“This is the first that it’s mine,” he said of the project, called Schuyler Hills, a conservation subdivision of 28 single-family homes on lots ranging from just under one acre to almost four acres.

He said the homes will be built on 50 acres of the hilly, wooded parcel. The remaining 50 acres of land will remain “forever wild.”

A homeowners’ association will own and manage the undeveloped land. “That will be their only role,” he said.

Homeowners will pay approximately $250 per year to cover the cost of maintaining the common property.

246 West Ave. A Three-Story Apartment Complex In Saratoga, Ready For Occupancy

February 9, 2018

This apartment complex at 246 West Ave., built by Hodorowski Group, was recently opened features 16 units of different sizes, ranging from one to two bedrooms.
©2018 Saratoga Photographer.com

By Liz Witbeck

To help satisfy the demand for new apartments within Saratoga Springs, a new apartment complex is now available.

The apartments at 246 West Ave were recently opened, built by Hodorowski Group.

The three-story complex features 16 units, ranging from one to two bedrooms. It has upscale touches, such as the hardwood floors, nine-foot ceilings, granite countertops and islands, tile backsplashes, and stainless steel appliances.

Leanna Pace is property manager for the apartment building.

“Normally in a building like this, each unit has the same floor plan. This building is unique because each unit has something different about it,” she said.

180 Acres In Clifton Park To Become A Tech Park With Ready-To-Build Commercial Space

February 9, 2018

Saratoga Economic Development Corp. (SEDC) unveiled in January plans for a new tech park that will add over 1 million square feet of ready-to-occupy commercial space for priority business sector uses.

The 180-plus acre site—called Synergy Tech Park—is one mile south of Northway Exit 10, bordered by Route 9 on the east, Kinns Road to the south and the Northway to the west.

Development will start this year. The announcement was made at SEDC’s annual member investor meeting marking its 40th anniversary year.

Officials said MJ Properties of Clifton Park is the developer, led by its president, Mark Rekucki. SEDC will collaborate with the Clifton Park Industrial Development Agency on incentives to help attract growth businesses.

SEDC and MJ Properties will co-promote the newly developed space to strategic commercial office, professional services and light industrial users. Some 405,000 square feet of proposed new space is already approved for commercial use and MJ Properties is pursing approval of an additional 600,000 square feet.

24-Unit Condominium Project Near Saratoga Lake Is Being Planned By Belmonte Builders

February 9, 2018

By Jill Nagy

Belmonte Builders has plans to build a 24-unit condominium development on a six-acre site near Saratoga Lake.

We are “early in the presentation phase,” said Peter Belmonte, company president.

The plans call for 12 duplexes, each comprised of two townhomes or carriage homes that will have the appearance of single-family homes.

Belmonte said the units will be sold as condominiums. He said owners would have a “very convenient life style” with maintenance-free residences. There will be sidewalks and pedestrian access to the lake

He said he hopes to be able to begin construction by the end of the year, assuming that the planning board gives its approval.

The site is near Regatta View Drive and Dyer Switch Road, near Fish Creek and Saratoga Lake. It will adjoin the much larger Regatta View and Interlaken developments, developed by Belmonte in the 1980s.