December 2008 Accounting Newsletter

1. SAVVY HOLIDAY SHOPPING
The holidays are a fun and exciting time of year, but they can also
cost you more than you expected. You don't have to bust your
budget to show how much you care. Here are some tips for reining
in spending while partaking in the spirit of the season. 

> Listen to the Podcast 
> Inexpensive Holiday Gift Ideas
> Smart Tips About Gift Cards

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2. HOW TO SET - AND KEEP - YOUR FINANCIAL GOALS
What's on your wish list for the future? Do you dream about taking
a special vacation, buying a home or retiring to a seaside location?
With the proper planning, it's possible to reach many or all of your
goals. 
http://www.moneymattersnj.com/story.cfm?SID=13557

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3. REMINDER: 2009 FINANCIAL FITNESS CALENDAR
AVAILABLE
The New Jersey Society of CPAs just released its 2009 Financial
Fitness Calendar. This FREE calendar serves as an easy-to-follow
resource guide, with handy tips and tools for improving your
financial health. Get your free copy today!
http://www.moneymattersnj.com/resources/calendar.cfm

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4. CAN YOU FIND CREDIT RELIEF WITH DEBT CONSOLIDATION?
When your credit becomes difficult to manage, it can be tempting
to simply declare bankruptcy and hope that everything works out
down the road; however, this is the exact wrong thing to do. 
http://www.moneymattersnj.com/story.cfm?sid=13524

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5. ADDITIONAL HEADLINES
* Making Gifts to Family Members Can Save Taxes 
* Questions to Ask About Service Contracts

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November 2008 Accounting Newsletter

1. 2009 FINANCIAL FITNESS CALENDAR NOW AVAILABLE
The New Jersey Society of CPAs just released its 2009 Financial Fitness Calendar. This FREE calendar serves as an easy-to-follow resource guide, with handy tips and tools for improving your financial health. Get your free copy today!
http://www.moneymattersnj.com/resources/calendar.cfm

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2. THIS MONTH'S PODCAST: 401(K) PLANS
In the current economy, as employees’ 401(k) balances go on a rollercoaster ride, hear from a New Jersey Society of CPAs financial planning expert on 401(k) plan basics: why it’s a useful investment vehicle, the different plan options and more. In part two of this informative podcast, our expert talks about investing in a plan and withdrawing funds: how risk and time impact a portfolio, accessing funds and tax penalties for early withdrawal.
http://www.moneymattersnj.com/story.cfm?SID=13517

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3. FIVE STEPS TO HELP KEEP MORE MONEY IN YOUR POCKET
Skyrocketing gas prices have gotten a lot of media attention this year, but most consumers have noticed that the costs of many basic goods have also crept higher, taking a toll on their monthly budgets. Here are suggestions on the best ways to boost the cash in your pocket.
http://www.moneymattersnj.com/story.cfm?sid=13523

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4. TAKE ADVANTAGE OF COLLEGE TAX BREAKS
Some parents spend years saving for their children's college education, while others scramble to find last-minute scholarships and loans. No matter which approach you've taken, there are a number of tax breaks available for qualifying taxpayers paying education bills.
http://www.moneymattersnj.com/story.cfm?sid=13521

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5. MAKING THE MOST OF STUDENT LOANS
This is the time of year many high school seniors are finalizing their decisions about which colleges they will apply to. That means it's time for their parents to give serious consideration to how they are going to pay for that college education. Here are some smart financing ideas to
http://www.moneymattersnj.com/story.cfm?sid=13519

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6. LEGAL DOCUMENTS YOU NEED TO HAVE
It's a good idea for everyone to take steps to ensure that their wishes are carried out in case of their illness or death. There are a number of legal documents that can communicate your wishes and make life easier for your loved
http://www.moneymattersnj.com/story.cfm?sid=13522

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7. ADDITIONAL HEADLINES
* Consumers Feel the Next Crisis: It’s Credit Cards
* Three Insurance Policies You Don't Need to Buy
* Six Ways to Save on Homeowners Insurance

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October 2008 Accounting Newsletter

1. IS MY MONEY SAFE?
In the wake of Wall Street's recent turbulence, CPA financial plannersadvise a calm approach to investors concerned about the safety of their assets. But if you are worried about your money - in banks, brokerages, or insurance companies - this month's Financially Fit podcast from the New Jersey Society of CPAs provides answers to some pressing questions.
http://www.moneymattersnj.com/story.cfm?SID=13463

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2. IDEAS FOR CUTTING YOUR HEATING BILLS
Home heating prices have skyrocketed in recent years, leaving people scrambling to find ways to cut their energy expenses. Given the soaring cost of fuel in recent months, there's reason to believe that this year will be another expensive one. However, there are ways to conserve energy and lower your heating bills, without sacrificing your comfort. http://www.moneymattersnj.com/story.cfm?sid=13467

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3. DON'T BE A VICTIM OF CONSUMER FRAUD
Consumer fraud is big business, and there are many different types of crimes involved, including tax refund scams, fraudulent weight-loss programs, phony lottery or prize schemes and bogus work-at-home scams. Here are steps you can take to avoid becoming a victim.
http://www.moneymattersnj.com/story.cfm?sid=13466

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4. NEW TAX CREDIT AVAILABLE FOR FIRST-TIME HOMEBUYERS
First-time homebuyers should begin planning now to take advantage of a new tax credit included in the recently enacted Housing and Economic Recovery Act of 2008.
http://www.moneymattersnj.com/story.cfm?sid=13442

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5. BEING PREPARED FINANCIALLY AFTER A DEATH IN THE FAMILY
What would happen to your family's finances if you or your spouse were to die unexpectedly? Would it be easy for your loved ones to get back on their feet financially? Here are some tips to ensure that your family is financially prepared to cope with a death in the family.
http://www.moneymattersnj.com/story.cfm?sid=13465

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6. PREPARATION CAN MAKE THE DIFFERENCE
Natural or manmade disasters can strike at any time, and protecting your family's health and security are the most urgent considerations. However, the steps you take before disaster strikes may make the difference between dealing with an inconvenience or trying to survive a nightmare.
http://www.moneymattersnj.com/story.cfm?sid=13468

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7. ADDITIONAL HEADLINES
* Five Last-Minute Retirement Tips
* Is Your Hobby a For-Profit Endeavor?
* Cheap Ways to Boost Your Home's Value

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September 2008 Accounting Newsletter

1. SAVING GREEN BY GOING GREEN
Rising energy costs combined with concerns about global warming have spotlighted "green" issues. Whether you're preparing for summer's heat or winter's frost - or looking to lower your gasoline expenses - there are many practical ways to cut down on costs. Hear tips from a member of the New Jersey Society of CPAs that will help you save both money and the planet.
http://www.moneymattersnj.com/story.cfm?sid=13431

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2. FIVE CREDIT CARD PITFALLS
Thanks to the credit crunch and a growing number of defaults, card issuers are clamping down on borrowers. Now, even those with a stellar credit score and a solid history of paying their balances in full each month aren't safe. Here are five credit card pitfalls and how to fight them.
http://www.accountingweb.com/cgi-bin

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3. MONEY MANAGEMENT SKILLS FOR COLLEGE STUDENTS
Parents should prepare their children for the rigors of managing a college budget by openly discussing monetary issues and teaching them personal finance basics.
http://www.360financialliteracy.org/Life+Stages/College

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4. CHECK IRS RULES BEFORE DONATING A USED CAR TO CHARITY
High gas prices are causing many Americans to think about buying a more fuel efficient vehicle. But if you think you can donate your old car to charity and then take a hefty tax deduction, you should brush up on the rules because they may be different from what you think.
http://www.moneymattersnj.com/story.cfm?sid=13421

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5. WRITING A SUCCESSFUL BUSINESS PLAN
Many thriving businesses begin with someone's great idea for a product or service. While that first inspiration is critical to any successful company, you also need a solid roadmap for the future. That's why every company - whether start-up or long-standing - should have a business plan, a document that charts where your business stands today and where you want it to go.
http://www.moneymattersnj.com/story.cfm?SID=13425

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7. ADDITIONAL HEADLINES
* Don't Get Taken to the Divorce Tax Cleaners
* Last-Minute Student Aid
* Common Challenges for Family Businesses

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August 2008 Accounting Newsletter

1. DROWNING AT THE GAS PUMP?
Now that the average cost of a gallon of gas is hovering around $4, are you thinking about buying a more fuel-efficient vehicle? What about slowing down on the road to conserve fuel? Will a gas card with rewards ease your pain at the pump? Listen to this month's podcast for answers to these and other questions.
http://www.moneymattersnj.com/story.cfm?sid=13360

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2. HOW TO PROTECT YOUR FINANCIAL PRIVACY
With Internet use now an integral part of our lives, it's become commonplace to provide confidential information such as bank account and credit card numbers, and even your Social Security number. Protecting your personal information today is more difficult - but it's still critically important.
http://www.moneymattersnj.com/story.cfm?SID=13374

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3. WHEN SHOULD YOU BEGIN TAKING SOCIAL SECURITY PAYMENTS?
Choosing when to retire and start drawing Social Security benefits is an important decision - one that is unique to each individual. Based on Social Security regulations, you can begin taking payments as early as age 62, but the age at which you retire will have an effect on the amount of your payment.
http://www.moneymattersnj.com/story.cfm?SID=13375

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4. UNDERSTANDING MUTUAL FUND FEES
Mutual funds let you buy into a diverse pool of investments, including short-term securities, stocks and long-term bonds, among others. However, there are typically charges associated with mutual funds, and you should understand those fees and how they will affect your investment.
http://www.moneymattersnj.com/story.cfm?sid=13376

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5. HOW LONG SHOULD YOU RETAIN FINANCIAL RECORDS?
Every year, taxpayers wade through piles of financial documents to find the information they need to file their taxes. But what happens to all that paperwork once you've mailed your return? How long do you have to keep your records in case of a tax audit?
http://www.moneymattersnj.com/story.cfm?SID=13380

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7. ADDITIONAL HEADLINES
* How Relationship Break-Ups Impact Home Insurance
* Four Reasons to Forgo Credit Monitoring Services

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July 2008 Accounting Newsletter

1. WHAT YOU NEED TO KNOW ABOUT YOUR SPOUSE'S FINANCES
Are you and your spouse knowledgeable about each other's financial situation? Are critical documents up to date? Are you prepared if a spouse is incapacitated or dies? In case of an unexpected emergency, it's prudent to know the details and location of each other's financial records and documents.
http://www.moneymattersnj.com/story.cfm?sid=13322

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2. THIS MONTH'S PODCAST: SHOPPING FOR A MORTGAGE
The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home. Hear from a CPA about how doing your homework and shopping around can help you negotiate a better deal.
http://www.moneymattersnj.com/story.cfm?SID=13333

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3. TIPS FOR GETTING A RAISE
Are you earning the salary you deserve? In a tight economy, many people are finding that they aren't receiving impressive increases when evaluation time rolls around. Don't despair. There are some steps you can take to maximize your chances for a larger paycheck.
http://www.moneymattersnj.com/story.cfm?SID=13323

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4. IS YOUR CREDIT SCORE COSTING YOU MONEY?
In these uncertain financial times, even those with excellent credit histories may have trouble getting a mortgage or other type of loan. That's why it's important to know your credit score and the effect it can have on your checkbook.
http://www.moneymattersnj.com/story.cfm?sid=13324

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5. WAYS TO REPAIR YOUR CREDIT SCORE
Do you know your credit score? People with poor scores usually pay higher interest rates, which translate into larger monthly payments for a mortgage or an auto or student loan. Poor scores can also cost you when renting an apartment, applying for a cell phone plan or even getting the job you want. Luckily, there are steps you can take to improve your score.
http://www.moneymattersnj.com/story.cfm?SID=13325

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6. RETIRING EARLY
Most of us dream about retiring early. For a number of Americans, it is not just a fantasy, but a reality. A few even accomplish it by their 30s. There are different ways to approach an early retirement strategy, but one aspect is certain - it requires careful planning.
http://www.moneymattersnj.com/story.cfm?SID=13303

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7. ADDITIONAL HEADLINES
* As Gas Prices Soar, CPAs Offer Advice
* Beyond Boomers: Financial Conversations With Generation X
* Same-Gender Couples Can Benefit from Professional Wisdom

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June 2008 Accounting Newsletter

1. NEWLYWEDS AND MONEY
According to a Money magazine survey, a total of 84 percent of couples said that money causes arguments in their marriages. But taking the right steps now can save a lot of tension and disagreement later. later. Here are some recommendations for getting the right start financially.
http://www.moneymattersnj.com/story.cfm?sid=13279

SEE ALSO: Podcast: Financial Advice for Couples Couples need to learn how to handle money situations together - from paying for their wedding to tax planning to maintaining a household budget. Try following these steps to get the conversation started.
http://www.moneymattersnj.com/story.cfm?sid=13284

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2. MONEY-WISE ADVICE FOR NEW GRADS
At this time of year, many recent graduates are leaving collegiate life behind and embarking on their first "real" career. It's an exciting time, but it's also a time of new financial responsibilities. Here are several money-wise steps to make sure recent grads start off on sound financial footing.
http://www.moneymattersnj.com/story.cfm?SID=13276

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3. AVOID MONEY MISHAPS WHEN CHILDREN MOVE BACK INTO THE NEST
It's graduation time, and many college graduates are returning home to live for the first time in several years. The prospect of living with an adult child may fill parents with delight or dread. In either case, it's important to be aware of the financial challenges that parents will face in this situation. Families that address these issues beforehand have a better chance of preserving harmony.
http://www.moneymattersnj.com/story.cfm?SID=13278

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4. TACKLING MONEY CONCERNS IN REMARRIAGE
Roughly 75 percent of those who have been divorced will ultimately remarry, according to government statistics. Money can be a source of tension in any relationship, but there are steps that couples who are remarrying can take to preserve harmony.
http://www.moneymattersnj.com/story.cfm?sid=13280

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May 2008 Accounting Newsletter

1. MAKE THE MOST OF YOUR ECONOMIC STIMULUS CHECK
Many American households will be receiving checks soon - up to $1,200 for married couples with $300 more for each qualifying child. Political leaders and the wording of the economic stimulus legislation suggest that it is our patriotic duty to help the economy by going out and spending this money as quickly as possible. Maybe and maybe not.
http://www.moneymattersnj.com/story.cfm?sid=13212

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2. TEACHING CHILDREN MONEY SMARTS
Do your children understand the value of a dollar? For today's children, learning how to manage money early is a lesson that will be important to them throughout their lives. The CPA profession has created several tools that you can use to teach your children to spend wisely.
http://www.moneymattersnj.com/story.cfm?sid=13213

SEE ALSO: PODCAST: TEACHING YOUR CHILDREN ABOUT MONEY
Hear from a CPA about how to teach your children about money so that they will be able to make wise financial decisions as they grow older.
http://www.moneymattersnj.com/story.cfm?SID=13251

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3. HOW TO AVOID SCAMS WHEN SEARCHING FOR SCHOLARSHIPS
If you are among the many Americans hoping to secure a college scholarship for your child, beware of a new development: scholarship fraud. http://www.moneymattersnj.com/story.cfm?sid=13210

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4. DON'T LET YOUR TEEN GET CAUGHT IN A CREDIT CRUNCH
The teen years are a great time to introduce children to the rules for managing debt. Young adults are swamped with advertisements for credit cards as soon as they enter college, and many don't know how to say "no."
http://www.moneymattersnj.com/story.cfm?sid=13212

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5. PLANNING AN AFFORDABLE FAMILY VACATION
With the end of the school year fast approaching, many families are planning their summer vacations. Travel expenses can take a big bite out of your budget, but there are many ways to make your vacation dollar go further.
http://www.moneymattersnj.com/story.cfm?sid=13211

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April 2008 Accounting Newsletter

1. SMART TIPS TO HELP MANAGE YOUR DEBT
Debt is not always a bad thing. Taking out a loan can make it possible to buy a home, purchase a new car or send your child to college. However, building up too much debt - and failing to manage your outstanding balances wisely - can be costly mistakes. Here are some tips to remedy this problem.
http://www.moneymattersnj.com/story.cfm?sid=13161

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2. PROTECTING YOUR CHILD AGAINST IDENTIFY THEFT
The number of cases of ID theft committed against children is increasing, and parents may be completely unaware until the child is denied a driver’s license or a college loan because of the bad record that an identity thief has built in the child’s name. Here are some steps you can take to
prevent your child from becoming a victim.
http://www.moneymattersnj.com/story.cfm?sid=1316

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3. THIS MONTH'S PODCAST: FINANCIAL PLANNING
Learn how to get started on the road to financial security by listening to this month's free podcast.
http://www.moneymattersnj.com/story.cfm?sid=1314

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4. FREE FICO SCORE ESTIMATOR
Just answer 10 easy questions from Visa’s free credit estimator, and you'll get a free estimated range of your scores from the main credit bureaus - Experian, TransUnion and Equifax.
http://www.whatsmyscore.org/estimator

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5. THINK GREEN TO SAVE THE ENVIRONMENT AND HELP YOUR BOTTOM LINE
Whether you’re preparing for summer’s heat or winter’s frost - or looking to lower your gasoline expenses - there are many practical ways to cut costs. And when you reduce your energy use, the environment benefits from lower greenhouse gas emissions. Here are some tips to help you save money and do the Earth a favor.
http://www.moneymattersnj.com/story.cfm?sid=13167

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March 2008 Accounting Newsletter

1. ANSWERS TO FREQUENTLY ASKED TAX QUESTIONS
Do you have more questions than answers when it comes to filing your tax return? While the process can be confusing, a little information can make the experience much more bearable. Here are answers to some common tax-season questions.
http://www.moneymattersnj.com/story.cfm?sid=13114

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2. SMART WAYS TO SPEND YOUR INCOME TAX REFUND
Getting a tax refund? Great. Before you splurge and spend your newfound funds, consider these money-wise alternatives.
http://www.moneymattersnj.com/story.cfm?sid=13120

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3. GOT DEBT? FINANCIAL STRESS MAY BE MAKING YOU SICK
Conflicts at work, major life changes, difficult social situations and uncertainty about the future are already documented. A new stress area that seems to be gaining attention among medical researchers is the everyday stress caused by worries over finances and debt.
http://www.moneymattersnj.com/story.cfm?sid=13112

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4. TIPS FOR FIRST-TIME HOME BUYERS
Given the volatility in real estate prices lately, many first-time buyers may be wondering if this is a good time to enter that market. Purchasing a home can be an excellent investment, but there are some important issues to consider first.
http://www.moneymattersnj.com/story.cfm?sid=13118

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5. SAVVY MORTGAGE SHOPPING
What's the best advice for people who are buying or refinancing a home? Get the best mortgage. Shopping around for the best mortgage and being informed about the right questions to ask mortgage lenders can be the most important things you do.
http://www.moneymattersnj.com/story.cfm?sid=13119

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February 2008 Accounting Newsletter

1. FIVE SIGNS YOUR FINANCES ARE IN TROUBLE
The loss of a job, a sudden illness or another crisis can spell financial trouble for any family. Sometimes, however, people make small mistakes that snowball to create big problems for their finances. CPAs recommend that you watch out for these warning signs that can signal potential financial pitfalls.
http://www.moneymattersnj.com/story.cfm?sid=13068

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2. TIPS FOR COPING WITH RISING HEALTH CARE COSTS
Holding down health care costs is a rising concern for individuals, as well as businesses. This is the time of year when many companies allow employees with health insurance to change their coverage options, so it's a good time to examine your health care coverage and spending.
http://www.moneymattersnj.com/story.cfm?sid=13065

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3. FINANCIAL ADVICE FOR THE SANDWICH GENERATION
Many Baby Boomers are trying to balance supporting a parent and raising a youngster or providing financial help to an adult child. That can put a squeeze on those adults in their middle years, the Sandwich Generation. Here are some steps this group can take to cope with competing financial demands.
http://www.moneymattersnj.com/story.cfm?sid=13067

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4. UNDERSTANDING MEDICARE ADVANTAGE PLANS
Are you or a loved one enrolled in Medicare? This government health insurance program for older Americans offers many coverage and plan choices. Given these options, it is vital for Medicare enrollees to understand their options.
http://www.moneymattersnj.com/story.cfm?sid=13066

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5. ADDITIONAL HEADLINES
* Boosting Your Home's Value in a Down Market
* Daily Tax Tips
* Seven Tax Terrors and How to Overcome Them

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