Saratoga Business Journal

An Experienced Massage Therapist Practices Myofascial Release To Relieve Patients’ Pain

November 12, 2024

By Christine Graf

After graduating from the Swedish Institute, a massage therapy school in New York City, Albany native Virginia Touhey, embarked on a decades-long career as a massage therapist. The owner of Fascial Connections, Touhey has offices in Clifton Park and Saratoga.

“I got into this about 30 years ago just kind of by accident,” she said. “I had been working as a carpenter for about 10 years, and I was in between jobs. I heard about this massage school in New York City, so I went to check it out.”

The rest is history, and Touhey worked for Stratton Mountain Sports Center and the Crystal Spa in Saratoga before venturing out on her own. Although she started her career doing Swedish massage, she now specializes in myofascial release (MFR), a technique that involves the application of gentle, sustained pressure to myofascial connective tissue—the tissue that wraps, connects, and supports muscles. By applying sustained pressure to trigger points in the connective tissue, MFR can help to reduce pain, release tightness, and improve circulation and mobility. MFR has been shown to be particularly effective in improving pain and physical function in patients with chronic lower back pain.

An Advanced Myofascial Release Therapist, Touhey was about five years into her career as a massage therapist when she received her MFR training from John Barnes, an internationally renowned physical therapist. A leading authority of MFR, Barnes has trained more than 100,000 therapists and physicians.

Business Owners Should Consider How Their Companies Are Structured For Tax Purposes

November 12, 2024

CPA Paul Dowen provides expert tax planning advice to his clients.
Courtesy of Whittemore, Dowen, Ricciardelli

By Susan Elise Campbell

Year-end may be a good time to consider restructuring a small business to shield personal assets from potential liabilities.

The tax code allows for several options, according to Paul Dowen, CPA, and partner at Whittemore, Dowen & Ricciardelli, LLP, certified public accountants serving the North Country and Saratoga County. Dowen said the typical choice today is between a limited liability company (LLC) or a Subchapter S corporation (S corp), although there are other entities.

Both provide some protection for the owner by limiting personal liability, just as a corporation does. If the company has debt or other financial obligations, owners are not personally responsible for satisfying them.

“In a retail store or restaurant with people coming in and out of the building, you might have product liability,” he said. “Both LLCs and S corps give you some protection.”

“The confusion is that an LLC can be organized as a sole proprietorship, a partnership, a C corp or an S corp,” he said. “If a client tells me their business has been set up by the attorney as an LLC, I know there is some liability protection, but that doesn’t tell me how the company is being taxed.”

Business Report: Consider Tax-Smart Charitable Gifts

November 12, 2024

By Eric Snell

As we enter the annual season of giving, you might be thinking of charities you wish to support. But you also might be wondering how to gain some tax benefits from your gifts.

It used to be pretty straightforward: You wrote a check to a charity and then deducted the amount of the gift, within limits, from your taxes. But a few years ago, as part of tax law changes, the standard deduction was raised significantly, so fewer people were able to itemize deductions. Consequently, there was less financial incentive to make charitable gifts.

Of course, this didn’t entirely stop people from making them. And it’s still possible to gain some tax advantages, too.

Here are a few tax-smart charitable giving strategies:

• Bunch your charitable gifts into one year. If you combine a few years’ worth of charitable gifts in a single year, you could surpass the standard deduction amount and then itemize deductions for that year. In the years following, you could revert to taking the standard deduction.

• Make qualified charitable distributions. Once you turn 73 (or 75 if you were born in 1960 or later), you must start taking withdrawals from your traditional or inherited IRA. These withdrawals — technically called required minimum distributions, or RMDs — are taxable at your personal income tax rate, so, if the amounts are large enough, they could push you into a higher tax bracket or cause you to pay larger Medicare premiums.

New Exhibit At The New York State Military Museum Is Drawing Enthusiastic Crowds

November 12, 2024

An exhibit about nuclear submarines is popular at the New York State Military Museum.
Lee Coleman photo

By LEE COLEMAN

The new exhibit “From New York to the Nuclear Navy” at the New York State Military Museum in Saratoga Springs has proven popular with museum patrons.

Courtney Burns, military history director at the museum, said since the exhibit opened in late June an increase in museum attendance has been seen.

“We’ve seen a rise in attendance, people coming specifically to see the exhibit,” Burns said.

The temporary exhibit runs through June 2025 at the museum at 61 Lake Avenue.

The exhibit highlights the history of the U.S. Nuclear Propulsion Program and the contributions and advancements of the program in New York state.

Burns said the idea for the exhibit originated when a retired Navy officer who was once stationed at the Navy’s Kenneth A. Kesselring nuclear propulsion site in West Milton, not far from Saratoga Springs, asked why the nuclear Navy program was not mentioned in museum exhibits.

Museum officials and others from the New York State Division of Military and Naval Affairs, which operates the museum, contacted the Naval Nuclear Laboratory, which represents several nuclear Navy sites in New York state and beyond.

The New Owners Of Union Square Have Ambitious Plans To Improve The Building

November 12, 2024

New owners Ryan and Erin Connor are set to revitalize Union Square in Glens Falls with commercial and residential spaces. Their plans aim to contribute to the city’s ongoing growth and transformation.
Glens Falls Business Journal

By Paul Post

Ryan and Erin Connor are just the right people to develop a property ideally located for taking advantage of Glens Falls’ ongoing economic rejuvenation.

The couple, both RPI grads, recently purchased the three-story, 45,000-square-foot Union Square building at 9-15 Broad Street, just around the corner from South Street, a cornerstone of the city’s revitalization.

The acquisition, financed by NBT Bank, was for approximately $1.6 million.

“The prior owner, Tom O’Neil, did a lot of capital improvements,” Ryan said. “He upgraded gas service, installed an elevator. The building’s got great bones. We’re going to further that a bit, focusing on the roof and grounds. From there we’ll be looking to add a mix of commercial and residential space depending on where it is in the building.”

There’s currently an eclectic mix of business and professional tenants such as a day spa, chemical firm, mortgage group, legal and architectural firms occupying spaces ranging from 1,000 to 3,000 square feet.

Ground Will Be Broken Soon For A New Warehouse For Arnoff Global Logistics

October 15, 2024

By Susan Elise Campbell

At headquarters in Malta, Arnoff Moving & Storage has built an enhanced logistics and delivery system for clients who need warehousing, packing and shipping services as their inventory is transferred or sold.

According to Daniel Arnoff, chief relationship officer and fifth-generation member of the family-owned business, the Arnoff Global Logistics division has outgrown its warehousing space and will soon break ground on a new 100,000-120,000-square-foot facility to suit their expansion trajectory.

Arnoff said the new warehouse is necessitated by the growth their clients are experiencing and by the influx of new clients who need a streamlined and cost-effective way to store and ship goods.

“The goods could be retail items purchased on the internet or parts we stock that a local manufacturer might need if their machine goes down,” he said.

Stewart’s Shops To Purchase Jolley Associates And S.B. Collins Operations By End Of Year

October 15, 2024

Stewart’s Shops is in the process of acquiring the assets of the Jolley Associates convenience store chain as well as S.B. Collins.
Saratoga Business Journal photo

Stewart’s Shops has signed an agreement to purchase the assets of Jolley Associates convenience store chain and S.B. Collins, including its heating oil business Clarence Brown of St. Albans, Vermont.

The acquisition, which requires federal regulatory approval, is expected to close by the end of 2024. Terms of the deal remain confidential.

The transaction includes the purchase of 45 Jolley stores including five in New York, two in New Hampshire and 38 locations in Vermont.

“We are thrilled to have this opportunity to acquire a company with such an impressive reputation in a market that we’ve been watching for many years,” said Stewart’s Shops president Gary Dake. “One of the primary reasons we were drawn to this deal is because of the quality and the character of Jolley’s employees.”

The acquisition also brings together two longtime family businesses.

Affordable Housing Is Becoming An Increasingly Serious Issue In The Region

October 15, 2024October 15, 2024

By Paul Post

In the iconic film “Field of Dreams,” a mysterious otherworldly voice tells Ray Kinchella (Kevin Costner), “If you build it, he will come.”

But unlike rural Iowa, Saratoga Springs doesn’t need a baseball diamond.

The issue is lack of affordable housing for middle-income people such as teachers and healthcare workers whose talents are critically important to essential local employers.

“I would say the two biggest challenges to Saratoga County’s continued economic growth are the need for more workforce housing and expanded public transportation,” said Todd Shimkus, Saratoga County Chamber of Commerce president. “We continue to have job openings across every sector of our local economy, and for many the applicant pool is limited by the fact that more and more people are being priced out of living close to these jobs or lack convenient and reliable transportation to travel to work consistently.”

“The median sales prices of a home year to date in Saratoga County is now over $400,000 and it is over $600,000 in Saratoga Springs so we are pricing ourselves out of the competition for talent at all levels of income,” he said.

Several obstacles stand in the way of providing more workforce housing. These include, but aren’t limited to: 1) the cost of land, building materials and labor; 2) costs associated to complying with local zoning requirements; 3) occasional local opposition to such housing in certain neighborhoods and communities.

Katherine Tiedemann, the city’s community development planner, said traditional low-income affordable housing is easier to address and navigate because there’s a set income cap. Anybody who makes below this figure is eligible to apply.

Middle-income employees typically aren’t enrolled in other types of assistance programs and are less familiar with affordable housing opportunities, she said.

BuonaSera On Saratoga Lake In Malta Is Operated By Experienced Restaurateurs

October 15, 2024October 15, 2024

Chef Jimmy Hartwyk and his wife, Danielle, recently opened BuonaSera, an Italian bistro.
Saratoga Business Journal photo

By Helise Stamos

BuonaSera, an Italian restaurant, opened in Malta in July.

Owned by Jimmy and Danielle Hartwyk, it occupies the building that formerly housed the Nostalgia Ale House & Wine Bar on Saratoga Lake. The building was completely renovated by Jimmy and Kevin LaPorto, his uncle, who is a retired New York state corrections officer.

Jimmy, the executive chef, has 30 years of experience in the restaurant business. He and Danielle previously owned Biscotti Brothers Cafe and Saluti in Lake George as well as a restaurant in New Hampshire. Danielle is one of the hostesses in the new enterprise.

“What I love about running a restaurant is seeing people gratified by every plate I prepare,” said Jimmy.

The menu includes pan seared diver scallops over homemade grilled bread with pancetta, red onions and roasted peppers. There is also chicken francese, veal or chicken parmesan, sautéed muscles with red peppers, red wine and herbs.

Personnel Briefs: October 2024

October 15, 2024

The Arrow Family of Companies has announced the promotion of Lisa Wichelns to Vice President, Branch Manager of the Saratoga main office for its subsidiary Saratoga National Bank and Trust Company.

Wichelns is responsible for overseeing the daily operations of the branch and meeting the financial needs of the community. She brings 18 years of financial services experience to Saratoga National Bank, most recently as West Avenue Branch Manager and previously in mortgage lending and bank management.

Wichelns is a member of the Saratoga Economic Development Corporation and volunteers for the American Red Cross Adirondack Saratoga Chapter. She is a graduate of the Saratoga County Chamber of Commerce Executive Institute and is a former board member of the Stillwater Community Center.

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Isabella Ronda and Erica Riekert, have joined Franklin Community Center’s Project Lift program as Family Outreach Coordinators. Both will play vital roles in prevention-based afterschool program within the Saratoga Springs City School District.