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How to Get an IRS Civil Penalty Waived and Keep Your Small Business

Posted in Tax News on September 21, 2011

Recently, we were able to get a $49,000 IRS civil penalty waived for one of our Connecticut business clients.  If we failed to get this penalty waived, this business would have closed its doors.

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Tom Scanlon's Interview with Steve Pedneault of Forensic Accounting Services, LLC in Glastonbury, CT

Posted in Tax News on September 14, 2011

How long have you been in business and how did you get started? My experience relating to criminal justice started when I was fourteen as a member of an organization affiliated with a local police department.   I continued my education…

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The 5 Most Common Itemized Deductions

Posted in Tax News on September 8, 2011

Mortgage Interest—Many taxpayers can deduct their mortgage interest on their residence.  However, there is a limitation on this.  The interest on a primary residence can only be deducted on up to $1,000,000 mortgage and $100,000 line of credit.  Points paid…

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How to Claim a Casualty Loss on Your Income Tax Return

Posted in Tax News on September 1, 2011

Hurricane Irene hit the eastern coastline hard this past weekend.  In the south, Irene was originally designated as a “Category 3” hurricane.  The highest rating and most violent is a Category 5.  Irene was subsequently downgraded to a Category 1. …

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Tom Scanlon's Interview with Keith Beaulieu from The Main Pub in Manchester CT

Posted in Tax News on August 25, 2011

How long have you been in business and how did you get started? The Main Pub has been in business for 31 years and we got started when my father turned a one room “Gin Mill” into a full service…

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