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Cummings, Lamont & McNamee, P.A., was formed in 1960 when John M. Cummings opened an office in Kennebunk, Maine. It is now Maine's largest CPA firm south of Portland with offices in Kennebunk, Maine and Portsmouth, Exeter, and Rochester, New Hampshire. With offices in the southern Maine region we provide services to clients in Oguinquit, ME;  Sanford, ME; Springvale, ME; Wells, ME and York, ME areas.

The firm has been a member of the AICPA Division of Firms since the beginning and continues to be a member in good standing.

PAYROLL TAX CUTS?

Will payroll tax cuts for employees be extended through 2012? We’ll inform you as soon as we know! The extension of payroll tax cuts will save an employee up to approximately $2,100 depending on his/her wages.

 THE IRS HAS ISSUED THE 2012 OPTIONAL
          STANDARD MILEAGE RATES.

The standard mileage rate for business miles driven will remain at 55.5 cents per mile.

Beginning on January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 55.5 cents per mile for business miles driven
• 23 cents per mile driven for medical or moving
   purposes
• 14 cents per mile driven in service of charitable
   organizations

There was only one adjustment from the 2011 mid-year rate, the medical and moving rate, which decreased by .5 cents.

  CLM MEMBERS PARTICIPATE IN THE UNITED
         WAY’S DAY OF CARING

On June 8th Cindy, Wanda, Melanie, Heidi and Amy participated in the United Way of York County’s Day of Caring.  Ninety-one projects were completed this year by 1,120 volunteers.  The estimated worth of volunteer time on this day was $111,108.60.  Volunteers worked on projects at 44 agencies.  This was the biggest Day of Caring yet!

The CLM team worked at Kennebunk Middle School this year.  They spent the day mulching the ropes course in the back of the school. 

CLM was one of the official sponsors of the event again this year.  The CLM logo was on all of the shirts and CLM was mentioned at the kick-off breakfast.  Due in part to CLM’s monetary donation, the United Way was able to complete incredible projects such as construction of a staircase, the building of flower beds at numerous facilities, and laying mulch, etc.  

The Day of Caring provides supports to nonprofits that would not otherwise be able to complete vital and necessary projects. 

We are proud to announce that Ray Bald has been elected to serve on the Supervisory Committee for Northeast Credit Union.  Please see link for full article; http://www.fosters.com.

TO OUR VALUED CLIENTS...  The Offices of Cummings, Lamont & McNamee will be closed for business on Friday's starting Friday, July 1st through Friday, September 2nd.  If you need assistance please call our office Monday - Thursday, 8:30 am - 5 pm and we will gladly schedule a convenient time to meet.  We apologize for any inconvenience and thank you for your continued business!

We value your input and invite you to take a minute to let us know how we are doing by responding  to our brief client satisfaction survey.  We strive to provide the kind of excellent service you deserve and your feedback is most helpful!  www.surveymonkey.com/s/DNSQMMG

Many taxpayers will be delayed until mid to late Feb. filing their 2010 personal tax returns due to recent tax law changes made in late Dec.  Some forms affected are:

Schedule A, Itemized Deductions
Form 8917, Tuition & Fees Deduction
Form 1040, line 23, Educator Expense Deduction
Form 4684, Casualties & Thefts
Form 3800, General Business Credit
Form 5405, First Time Homebuyer Credit & Repayment of the Credit
Form 8910, Alternative Motor Vehicle Credit

For a full list see www.irs.gov/newsroom/article/0,,id=232773,00.html

We are pleased to announce that CLM was rated the 5th largest accounting firm in the August 24th edition of MaineBiz, "By the Numbers". 

Mainebiz is Maine's premier statewide business news publication. They deliver news and opinions from Maine's business community to readers from Fort Kent to Kittery.

For information e-mail us at clm@clmcpa.com

 Maine:

    305 Lafayette Center
    Kennebunk, ME  04043
    Tel:  (207) 985-3339
    Fax:  (207) 985-1339

 New Hampshire:

    One New Hampshire Avenue
    Suite 305
    Portsmouth, NH  03801
    Tel.:  (603) 430-6200
    Fax:   (603) 430-6209

    14 Bow Street
    P.O. Box 459
    Exeter, NH  03833
    Tel:  (603) 772-3460
    Fax:  (603) 772-7097

    69 South Main Street
    Rochester, NH  03867
    Tel.:  (603) 335-3006
    Fax:   (603) 335-4927

CLM's Portal Access

CLM's 2011 Tax Planning Guide