Page 12 THE VILLADOM TIMES Business IV • April 25, 2012 Atlantic Stewardship Bank recently announced the appointment of Mark J. Maurer of Mahwah as senior vice president and commercial loan division manager. Maurer will serve at the bank’s office located at 400 Hamburg Turnpike in Wayne. Maurer has over 25 years of progressive management experience within the financial services industry, most recently as senior vice president and commercial banking team leader for a large regional bank. He has expertise ASB appoints Mark J. Maurer senior vice president Watching political speeches, debates, and Sunday morning talk shows can be like trying to watch a foreign film without subtitles. What are they really saying? What is a tax loophole? What do they really mean by corporate tax reform? Words and phrases used by politicians can be downright confounding. The tax experts at the New Jersey Society of Certified Public Accountants acknowledge that there are so many different terms to know about taxes, finance, and accounting that if you don’t work with them every day, it’s easy to get lost in a fog of words. When you hear these terms being tossed around in candidates’ speeches as part of their economic plans, wouldn’t it be nice to know what they mean? Here’s a primer of a few tax and financial phrases you might hear during the 2012 campaign season: Tax code: This system of laws, known as the Internal Revenue Code, describes how the federal government will tax individuals and businesses. The U.S. has one of the most complex tax codes in the world. Tax loophole: A loophole is any technicality that allows a person or business to avoid the scope of a law or restriction without directly violating the law. In reference to taxes, loopholes usually refer to ways individuals and companies remove income or assets from taxable situations into ones with lower taxes or none at all. Using a loophole isn’t breaking the law, but going around it in a way that was not intended by the regulators or legislators who put the law or restriction in place. (continued on page 24) NJSCPA explains tax terminology Mark J. Maurer in development and management of commercial banking relationships, commercial real estate lending, and credit analysis. Maurer received a bachelor of arts degree in economics from Rutgers University in Newark. He is active in his community, where he volunteers as a youth athletics coach for Mahwah Recreation and at Saint Paul’s Interparochial School in Ramsey. Maurer is also past director of the Mahwah Regional Chamber of Commerce. “We are pleased to welcome Mark Maurer to Atlantic Stewardship Bank’s Senior Management Team,” said Atlantic Stewardship Bank President and Chief Executive Officer Paul Van Ostenbridge. “Mark brings a wealth of commercial lending experience to our senior management team, having spent his career in the lending arena. In addition, he enthusiastically supports Atlantic Stewardship Bank’s goals and tithing mission.” Atlantic Stewardship Bank maintains banking locations in Midland Park, Montville, North Haledon, Pequannock, Ridgewood, Waldwick, Westwood, Wyckoff, Hawthorne, and Wayne. Established in 1985, ASB is a full-service community bank serving both individuals and businesses. The bank is a subsidiary of Stewardship Financial Corporation trading on the NASDAQ under the symbol SSFN. The bank’s website is www.asbnow.com.