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NOVeMBeR 2011
TMC Environmental raises $13,000 for Make-A-Wish TMC Environmental hosted the 3rd Annual Environmental Services Fall Golf Classic to benefit the Make-AWish Foundation® of Massachusetts and Rhode Island. On a beautiful, warm and sunny day, golfers of all abilities convened at Red Tail Golf Club in Devens, MA in support of the Make-A-Wish Foundation® of Massachusetts and Rhode Island, raising $13,000. These funds will enable the Foundation to grant as many wishes as possible for the 580 children in Massachusetts and Rhode Island diagnosed each year with life-threatening medical conditions. “We cannot thank TMC Environmental enough for hosting this event and gathering the community together on our behalf,” said Tony Sampaio of the Make-A-Wish Foundation®. “We have grown from granting a single wish in our first year, to striving for 400 children’s wishes in 2011 and this donation will allow us to make more of our children’s wishes come true,” continued Sampaio. In 2009, TMC’s first annual golf classic raised $11,500 for the Foundation which allowed the organization to grant the wishes of 2 critically ill children – sending them and their families to Walt Disney World® Resort. With on-site medical facilities providing treatments as necessary and Disney characters spending quality one on one time with the children, they were given an all expenses paid vacation of a lifetime. The money raised from last year’s tournament, allowed the Make-AWish® Foundation to grant three wishes. Fayth, age two, met Mickey Mouse and the Disney Princesses when she and her parents spent a week at Walt Disney
World® Resort. Six year old Sara loves the movie Beethoven and received a puppy who is now her constant companion. Andrew, age nine, and his family embarked on a fun-filled Nickelodeon cruise to the Bahamas. “This year’s tournament was a great day for the Make-A-Wish Foundation®, TMC and all the participating companies,” says Matthew Clark, President and CEO of TMC Environmental. “We are grateful to have so many amazing people in this industry who are willing to donate their time and money for such a wonderful cause.”
TMC plans to continue this tradition of community involvement – holding the 4th Annual Environmental Services Fall Golf Classic in 2012 to benefit the Make-A-Wish Foundation® of Massachusetts and Rhode Island. ABOUT THE MAKE-A-WISH FOUNDATION® OF MASSACHUSETTS AND RHODE ISLAND The Make-A-Wish Foundation® of Massachusetts and Rhode Island grants wishes for children with life-threatening medical conditions to enrich the human experience with hope, strength, and joy. The joy began in 1987, when
Cottle appointed to ICBA Board of Directors The Independent Community Bankers of America (ICBA) announced that local community banker, Wayne A. Cottle of the $220 million-asset Dean Bank, Franklin was appointed to the ICBA board of directors. ICBA is the nation’s voice for community banks. “I am honored to be appointed to this position,” Cottle said. “It gives me a chance to continue to work for community banks across the country that practice trusted, common-sense lending and offer hands-on personal service and invaluable financial expertise to local consumers and small businesses.” In addition to helping shape and advocate ICBA’s national policy positions and programs, Cottle’s duties include being a liaison between independent community bankers in Massachusetts and ICBA staff and leadership in Washington, D.C. He is past national
Secretary and member of ICBA’s executive Committee and serves as Chairman of ICBA’s Mutual Bank Council. ICBA is the only national trade association dedicated exclusively to promoting the interests of locally operated community banks and savings institutions. With trusted financial expertise and high-quality customer service as their hallmarks, community banks offer the best financial services option for millions of consumers and small businesses. “Cottle is a dedicated community banker who is respected by his industry peers,” said ICBA Chairman Sal Marranca, president and CEO of Cattaraugus County Bank, Little Valley, N.Y. “We are delighted he will continue to offer his time and valuable professional talents to the service of the community banking industry.”
the Foundation fulfilled its first wish: a family trip to York Beach for a girl with Niemann-Pick disease. Since that first inspired wish, the Foundation has served over 4,500 children in Massachusetts and over 1,000 children in Rhode Island. This fiscal year, the Make-A-Wish Foundation of Massachusetts and Rhode Island is working to fulfill over 400 wishes for medicallyeligible children in its two-state community. To learn more, please visit www.massri.wish.org or call 617- 3679474. Since 1995, TMC Services has provided innovative solutions for complex environmental challenges – including 24 hour emergency and disaster response, remediation and abatement, marine services, industrial cleaning, environmental construction services, and waste management. The company is now known as TMC Environmental. This name together with the new logo instantly communicates who the company is and what they do for their customers: TMC solves environmental challenges whenever and wherever they occur. The company’s mission is to make the places where we all live and work, safer and more productive. TMC responds quickly and strategically to every situation, whether they are dealing with an emergency or a complex, long-term project. Matthew Clark, President and CEO, sums it up: “As a forward-looking company, we undertook this effort to reinforce our overall mission and to better communicate the expertise, passion, and professionalism of our people.”
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What are the odds the IRS will audit you? by: Roger H. Croteau, CPa It’s well known that the IRS is working on closing the “Tax Gap” by ramping up audits. The “Tax Gap” is the difference between what the IRS expects to collect and what is actually collected. Last March the IRS released its estimate of a tax gap between $312 billion to $353 billion per year. In 2001 IRS enforcement activities recovered $55 billion of the tax gap. While no tax system can ever achieve 100% compliance, the IRS is committed to taking steps to improve compliance through increased and better targeted enforcement. New IRS statistics give the details on audits of individuals in 2010: Taxpayers with incomes of $1million or more. The IRS audits 1 out of every 12 of these returns. Filers with incomes of at least $200,000 and up but less than a million, business returns with gross receipts of $25,000 and up (such as Schedule C filers and returns with earned income credit will experience a significant audit increase. The IRS is revising the schedule for rental properties (schedule E) for 2011. The taxpayer will be required to report more information. The taxpayer will have to report the number of days the properties were occupied as well as number of personal use days. The IRS may be gearing up to audit more returns reporting rental real estate activities. The good news is that the IRS doesn’t expect to shrink the tax gap with random audits. Of course some 1040 will be selected randomly for examination, most of the time the IRS looks for returns that give them a reason to look at them. Many times audits are triggered by a specific item or pattern of behavior on your tax return. Some of the more common items that our firm has witnessed include: • Failing to include a form 1099 or other income. • Inflating home office deductions • Citing too many losses on a schedule C • Claiming disproportionately high charitable deductions • Using too many round numbers • Reporting rental real estate losses when you do not materially participate • Listing too many business related deductions Keep in mind that the tax laws are designed so that you do not have to pay more tax than you are legally required. Do not be afraid to take all legitimate deductions on your return. Report income and expenses properly and keep good records. If you would like more details on the above information or have any questions about your tax returns please give us a call at 508-278-2239. We are glad to help.