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Tuesday, October 27, 2015

Friends, Clients, Prospects,

   You have received the Quarterly Update from the Tax Cutter Guy and H F Dolan and Co; in it you found that this is the time, right now, to take another look at your financial picture, and make sure we execute any changes needed to reduce your 2015 tax liability. As we have said many times before, proper planning is worth hours and hours of after the fact filings, research, and , unfortunately, litigation.

   This week, we completed a Federal audit for one of the clients of a storefront Tax preparation firm. While their filed tax forms reported nothing significant, the IRS identified a liability of some $117,000, due immediately. The business owner was facing the confiscation of his business, and a significant claim attached to his home. After thorough forensic work, and a requested office audit of revises tax forms, his liability has been reduced to less than $10,000.00, which was paid immediately.

   This is only one of the many examples of the work in which we engage. This family (all of our clients are family), can now rest, and go about building their business.

   Last week we assisted in the Due Diligence Study for the acquisition of a middle-market firm. In the metal forming business for over sixty years, the sellers decided that it was time to retire. When we were contacted by our representatives in the Midwest, we spoke with several clients whom had retained us to find appropriate acquisitions.  This Due Diligence grew out of that effort. We must remind our clients that, while we may identify and locate target firms, if and when we do the Due Diligence, our relationship as to advising on the acquisition necessarily changes.

   One of the more frustrating aspects of mergers and Acquisitions is obtaining the assurance that the advisors are not self-dealing and that they are, in fact, working for your interests. This is why, in many cases, once our market search work has found suitable candidates, we concentrate on the economic, financial, strategic, technological and tax impacts of the prospective firm.

  Should you wish to schedule a review of your financial picture , please contact our office.

H.F. Dolan and Co.

Sunday, March 9, 2014

The Eponymous Flower: Clerical Association of Saint Gregory the Great -- New Community of Tradition: Society of Good Shepherd Splintering

The Eponymous Flower: Clerical Association of Saint Gregory the Great -- New Community of Tradition: Society of Good Shepherd Splintering

The Society of the Good Shepherd torn apart by Vatican meddling; The Society Of Saint Pius X torn apart by traitors inside the SSPX who want to get into bed with the meddling Vatican.

Maybe the Associates of Saint Gregory the Great will be able to work with Bishop Williamson ( London, England), the resistance priests of Canada  Father Girouard, the resistance priests in Italy, Spain and South America?

Sunday, September 18, 2011

The Fairfield Rescue Plan :

THE COMMON SENSE RESCUE PLAN : Sent as a News Release to all media on 9/16/2011:

To secure the future of our town, protect the interests of our citizens, preserve the values of our residents, ensure the education of our children, protect the ability of both our seniors and young people to live, work and recreate in this town, we will :

*Reduce the Budget by $ 30 million, in the first tax year;
* Eliminate the bonded indebtedness of the Town, and stop the practice of bonding
for expense items;
* Recapture all the hidden” trust “ and “ fund “ accounts, millions of dollars
accumulated in over many years, will be freed up and used to reduce debt;
* Place all liabilities on firm financial footing, All pensions and health care
funds will become truly self-supporting, , as the Fire/Police Pension was
before the Mr. Flatto and the Board of Finance started using it’s reserves to
cover expenses and give to their” feeder fund “friends like Madoff .
* Conduct a top to bottom review of each department, working with all Town
employees, usually one of the best sources for cost efficiencies;
* Institute an Ambulance Service for our residents and visitors that would
return to Fairfield revenues of some $ 10 million . Our personnel are amongst
the best trained in the nation— yet we let this revenue go to a private
foreign company. This revenue will be generated within the first year ;
* Immediately study the potential of creating an Electric District for the Town,
similar to that in other communities. The town is allowed to buy on the market
and can save over $2 million./yr! The absolutely poor response of the
utilities during this last " storm " was abominable, and illustrated quite
well their total disdain for the residents of Fairfield;
* Conduct a thorough study of the Assessments,, which has resulted in many
residents receiving unconscionable valuation increases, especially in an
era of rapidly falling prices ! Connecticut State law mandates that the 1 st
Selectman must make sure all assessments are fair and just: methodology is
sound, the underlying principles are fair, and the calculations are correct;
* Immediately remove from the control of the School Board those area of
responsibility for which they do not have a demonstrated expertise, which do
not benefit from their areas of professional training. For instance-- The
$ 7.5 million busing program, the federal lunch program, and the hiring of
personnel. These functions can and should be done by Town personnel, at
greater efficiency and less expense. We will achieve cost savings without
any layoffs.
* Immediately take over the maintenance of our hydrants--Currently, Aquarion
charges us over $ 2.0 million to “ maintain “ the hydrants and the
piping. .However, we have town employees who could do this, and , if
prudent, could buy insurance to protect against catastrophic line breakages.
This savings starts year one.

* Ensure that public and tax-payer( in addition to RTM members )

representative sit on all committees negotiating contracts which bind the
town, so these contracts are vetted in open daylight, are not secretive, and
are not forced down the taxpayers throat after the fact.

In addition, First Selectman Candidate of the Independent Party Hugh Dolan has called for a thorough top/down study of every function and operation of the Town of Fairfield. This study, Dolan says, can be expected to yield savings in excess of $ 15 million per year.
" Due in large part to the dedicated employees this Town has, and their knowledge of their job areas and functions, we find employees always know where the opportunities for efficiencies are",
says Dolan. The key to his proposed study, which he has already begun to plan for and has held preliminary discussions with appropriate people, is the contribution of leading members of academia and candidates for Master's and Doctorate degrees. "
The participation of professors and doctoral candidates with significant business expertise , in conjunction with the valuable input of our own employees, is a dynamic win/ win for everyone,"
Hugh said.

" The professors get tremendous exposure, the students get great resume experience, the employees get satisfaction and recognition, and the taxpayers get lower taxes-- all at minimal costs! " .
A study like this in the private sector would cost , literally, hundreds of thousand, said Dolan, a former Manager of Operational and Financial Audits at the venerable American Can Co. " when we went into an operation that had not had a Business Performance Review by our group, we knew that their would be significant opportunities for savings and improvements", Dolan related. " And significantly, every Operational Audit I managed turned in savings and/ or revenue improvements-- totalling over $ 350 Million-- and none of the cost savings were at the cost of workers' jobs" Hug said.

Independent Party to Fight for Fairfield !

As Printed in the Fairfield Patch, Sept 12, 2011:

Economist Paul Krugman recently stated that there is a 50 percent chance of a global recession. Mr. Krugman is just the latest of a long string of forward- thinking economists trying to warn the beleaguered taxpayer that things are not getting better, and that our "tax and spend" politicians are driving us deeper into the hole.

We who live in

know this all too well. Homeowners can't sell homes—homes that are so much under more water than tropical storm Irene delivered. Our utility companies didn't even bother to prepare for the storm—they just let the residents sit for days with no power, while they played with their income statements. And our taxes in Fairfield are now the 165 the highest in the state—that dubious accomplishment achieved in just nine years of mismanagement by the Board of Finance.

But finally, in Fairfield, a Rescue Plan is available! The Secretary of State has approved the candidacy of the Independent Party slate, and we are on the ballot for November—thanks to the help and signatures of many citizens.

Finally, Firefighter Hugh Dolan, the Independent Party candidate for First Selectman, will be able to give you a First Selectman that will cut the waste, rein in the wild spending spree of the Board of Education, consolidate town and Board of Ed functions to save money, pay off the wasteful and reckless bonds , and implement the professional consultants' recommendations to save over $ 25 million. In total, with the income improvements detailed in our plan (provide Ambulance Services, maintain hydrants, procure electricity cost effectively, reduce health-care costs), and the cost savings delineated (stop the interest on the bonds, consolidate departments, implement the consultant's recommendations), we will decrease the annual operating budget by at least $ 30 million.

This will go a long way to preserving the equity for Fairfield's beleaguered homeowners, who are now faced with a real estate market that, throughout the entire Bridgeport-Stamford marketing area, has greater than 50 percent more homes on the market today than in 2001 ! Prospective buyers will not buy in towns that are fiscally irresponsible. And they measure fiscal irresponsibility very simply: by the annual tax bill.

The Implementation of the Independent Party plan will save Fairfield property owners, school children, taxpayers, employees, and visitors—by making the town , once again, a stable and secure place to live. Hugh Dolan
Post Office Box 704, 1775 Congress Street, fairfield, Ct
203-414-2742 Donations now legally and happily accepted !
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