1. HOLIDAY SHOPPING TIPS
Many people have tightened their belts during the last year
because of the troubled economy, but that doesn’t mean you
have to miss the joy of giving presents to loved ones or
indulging in the celebrations. There are several steps you
can take to ensure that you be a savvy shopper, even during
what can be a costly time of year.
http://www.moneymattersnj.com/story.cfm?sid=14416
=============================================
2. DEBT MANAGEMENT MISTAKES TO AVOID
Most people carry some debt, whether it’s a credit card
balance or the money they owe on a car loan or home mortgage.
Debt is not necessarily a bad thing, but it can become a
problem if you allow it to spiral out of control.
http://www.moneymattersnj.com/story.cfm?SID=14415
=============================================
3. FIVE QUESTIONS TO ASK WHEN YOU JOIN A GYM
As the new year approaches, many people will resolve to lose
weight or get into better physical shape. Before you sign up,
however, ask these questions to ensure you spend your money
wisely. http://www.moneymattersnj.com/story.cfm?SID=14414
=============================================
4. ADDITIONAL HEADLINES
* Don’t Get Scammed When Making Travel Plans
http://www.moneymattersnj.com/story.cfm?sid=14413
* Ten Important Facts About the Extended First-Time Homebuyer Credit
http://www.moneymattersnj.com/story.cfm?sid=14439
* Reminder: Free 2010 Financial Fitness Calendar Available -
http://www.moneymattersnj.com/resources/calendar.cfm
=============================================
Thursday, December 17, 2009
Tuesday, November 24, 2009
November 2009 Accounting Newsletter
1. THIS MONTH'S PODCAST: IS BANKRUPTCY THE BEST OPTION?
As layoffs, pay cuts and foreclosures pile up, many debt-
burdened Americans are considering bankruptcy. Hear about
what you need to know before declaring bankruptcy.
http://www.moneymattersnj.com/story.cfm?sid=14381
============================================
2. FIVE COSTS YOU SHOULDN'T CUT
Cutting back on unnecessary outlays is always a good idea,
but make sure you don’t chop out important budget items in
the process. Here are some costs that should not be cut.
http://www.moneymattersnj.com/story.cfm?SID=14376
============================================
3. ARE YOU READY FOR HOME OWNERSHIP?
Purchasing a first home is an exciting time in anyone’s life.
It’s also a large financial undertaking, a fact that leaves
many people wondering whether they’re prepared for this big
step. Answer these questions to help you decide if the time
is right for you.
http://www.moneymattersnj.com/story.cfm?sid=14375
============================================
4. TIPS FOR WORKING INTO RETIREMENT
Retirement used to mean leaving work forever at age 65.
Today, that description no longer applies to many of the
millions of Americans who are at or near the traditional
retirement age. Here are some suggestions for anyone
redefining retirement.
http://www.moneymattersnj.com/story.cfm?SID=14372
============================================
5. ADDITIONAL HEADLINES
* Reminder: Free 2010 Financial Fitness Calendar Available -
http://www.moneymattersnj.com/resources/calendar.cfm
* What to Ask Before You Donate -
http://www.moneymattersnj.com/story.cfm?sid=14374
* Five Ways to Save on Auto Insurance -
http://www.bankrate.com/finance/auto/5-ways-to-save
As layoffs, pay cuts and foreclosures pile up, many debt-
burdened Americans are considering bankruptcy. Hear about
what you need to know before declaring bankruptcy.
http://www.moneymattersnj.com/story.cfm?sid=14381
============================================
2. FIVE COSTS YOU SHOULDN'T CUT
Cutting back on unnecessary outlays is always a good idea,
but make sure you don’t chop out important budget items in
the process. Here are some costs that should not be cut.
http://www.moneymattersnj.com/story.cfm?SID=14376
============================================
3. ARE YOU READY FOR HOME OWNERSHIP?
Purchasing a first home is an exciting time in anyone’s life.
It’s also a large financial undertaking, a fact that leaves
many people wondering whether they’re prepared for this big
step. Answer these questions to help you decide if the time
is right for you.
http://www.moneymattersnj.com/story.cfm?sid=14375
============================================
4. TIPS FOR WORKING INTO RETIREMENT
Retirement used to mean leaving work forever at age 65.
Today, that description no longer applies to many of the
millions of Americans who are at or near the traditional
retirement age. Here are some suggestions for anyone
redefining retirement.
http://www.moneymattersnj.com/story.cfm?SID=14372
============================================
5. ADDITIONAL HEADLINES
* Reminder: Free 2010 Financial Fitness Calendar Available -
http://www.moneymattersnj.com/resources/calendar.cfm
* What to Ask Before You Donate -
http://www.moneymattersnj.com/story.cfm?sid=14374
* Five Ways to Save on Auto Insurance -
http://www.bankrate.com/finance/auto/5-ways-to-save
Monday, October 12, 2009
October 2009 Accounting Newsletter
1. 2010 FINANCIAL FITNESS CALENDAR NOW AVAILABLE
The New Jersey Society of CPAs will be releasing its 2010
Financial Fitness Calendar later this month. This FREE
calendar serves as an easy-to-follow resource guide, with
handy tips and tools for improving your financial health.
Request your free copy today!
http://www.moneymattersnj.com/resources/calendar.cfm
=============================================
2. THIS MONTH'S PODCAST: AVOIDING OR SURVIVING AN IRS AUDIT
It's every American's nightmare - an IRS audit. The New
Jersey Society of CPAs' latest podcast offers tips on how to
survive an audit or, better yet, avoid one altogether.
http://www.moneymattersnj.com/story.cfm?sid=14274
=============================================
3. GETTING A BETTER PRICE ON A NEW CAR
In recent months, the news has been full of stories about
struggling auto makers and declining car sales. While that’s
bad news for the economy, it can be good news for consumers
looking to make an auto purchase. Here are some tips for
getting the best deal.
http://www.moneymattersnj.com/story.cfm?sid=14271
=============================================
4. AVOID MAGAZINE SUBSCRIPTION SCAMS
If a promise sounds too good to be true, it usually is. And
that’s the case with many offers for magazine subscriptions
that you may receive over the phone or from someone selling
door-to-door. Here's some advice to make sure you’re getting
the best deal for your dollar.
http://www.moneymattersnj.com/story.cfm?sid=14271
=============================================
5. HOW TO GET A BETTER FINANCIAL AID PACKAGE
College costs have become an enormous outlay for families,
and the price tag seems to rise by larger amounts every year.
But there are several steps families can take to be sure
they get the most aid possible.
http://www.moneymattersnj.com/story.cfm?sid=14270
=============================================
6. 529 SAVINGS PLAN TIPS IN UNCERTAIN TIMES
529 college savings plans allow you to set aside funds for
tuition costs where they can build up profits that are
usually exempt from federal, state and local taxes. Here are
some guidelines for how to make the best choices when
investing in a 529 savings plan.
http://www.moneymattersnj.com/story.cfm?SID=14269
=============================================
7. ADDITIONAL HEADLINES
* Six Facts About the American Opportunity Tax Credit -
http://www.moneymattersnj.com/story.cfm?sid=14262
* Four Money Lessons for Children to Master -
http://www.bankrate.com/finance/financial-literacy/
* Six Credit Card Traps to Avoid Now -
http://www.smartmoney.com/personal-finance/debt/
* How to Make Living on One Income Work -
http://financialhighway.com/how-to-make-living-on-one/
The New Jersey Society of CPAs will be releasing its 2010
Financial Fitness Calendar later this month. This FREE
calendar serves as an easy-to-follow resource guide, with
handy tips and tools for improving your financial health.
Request your free copy today!
http://www.moneymattersnj.com/resources/calendar.cfm
=============================================
2. THIS MONTH'S PODCAST: AVOIDING OR SURVIVING AN IRS AUDIT
It's every American's nightmare - an IRS audit. The New
Jersey Society of CPAs' latest podcast offers tips on how to
survive an audit or, better yet, avoid one altogether.
http://www.moneymattersnj.com/story.cfm?sid=14274
=============================================
3. GETTING A BETTER PRICE ON A NEW CAR
In recent months, the news has been full of stories about
struggling auto makers and declining car sales. While that’s
bad news for the economy, it can be good news for consumers
looking to make an auto purchase. Here are some tips for
getting the best deal.
http://www.moneymattersnj.com/story.cfm?sid=14271
=============================================
4. AVOID MAGAZINE SUBSCRIPTION SCAMS
If a promise sounds too good to be true, it usually is. And
that’s the case with many offers for magazine subscriptions
that you may receive over the phone or from someone selling
door-to-door. Here's some advice to make sure you’re getting
the best deal for your dollar.
http://www.moneymattersnj.com/story.cfm?sid=14271
=============================================
5. HOW TO GET A BETTER FINANCIAL AID PACKAGE
College costs have become an enormous outlay for families,
and the price tag seems to rise by larger amounts every year.
But there are several steps families can take to be sure
they get the most aid possible.
http://www.moneymattersnj.com/story.cfm?sid=14270
=============================================
6. 529 SAVINGS PLAN TIPS IN UNCERTAIN TIMES
529 college savings plans allow you to set aside funds for
tuition costs where they can build up profits that are
usually exempt from federal, state and local taxes. Here are
some guidelines for how to make the best choices when
investing in a 529 savings plan.
http://www.moneymattersnj.com/story.cfm?SID=14269
=============================================
7. ADDITIONAL HEADLINES
* Six Facts About the American Opportunity Tax Credit -
http://www.moneymattersnj.com/story.cfm?sid=14262
* Four Money Lessons for Children to Master -
http://www.bankrate.com/finance/financial-literacy/
* Six Credit Card Traps to Avoid Now -
http://www.smartmoney.com/personal-finance/debt/
* How to Make Living on One Income Work -
http://financialhighway.com/how-to-make-living-on-one/
Wednesday, September 9, 2009
Thinking about Roth IRA Conversions???
The Federal TIPRA Tax Act has made a significant change in the requirements for traditional IRA holders to convert some or all of their IRA monies into Roth IRA’s.
While traditional IRA’s are fully taxable for FED and State purposes when distributed to the holder, Roth IRA’s are completely free of FED and State taxes. Under prior law, traditional IRA holders with modified incomes (AGI) above $ 100,000 were prohibited from converting into a Roth IRA. For modified AGI of $ 100,000 or below the conversion was allowed, although the tax had to be paid in the year of the conversion. Once converted Roth IRA distributions and earnings on the principal would be free of taxation during the holder’s lifetime, as well as the lifetimes of the beneficiaries ie: wife and then children who would inherit the Roth IRA.
Under TIPRA, the income limit of $ 100,000 has been removed AND the tax due when the conversion takes place in 2010 can be spread over the years 2011 and 2012.
This new tax law has created an opportunity for taxpayers to determine whether the Roth IRA conversion would be appropriate from a tax and cash flow standpoint. To accomplish this, a review of the taxpayer’s traditional IRA size, taxpayer’s age, tax situation, marriage status, expected required minimum distribution (RMD), and whether the taxpayer had children or other secondary beneficiaries.
On the negative side, although the tax due on the 2010 conversion can be spread over the following two years (2011 and 2012), the tax due will come much sooner than the tax due utilizing the RMD of the holder based on distributions according to his age.
For example suppose we have a taxpayer with $ 1.0 million in traditional IRA monies and is 65 years old. If the entire $ 1.0 million was converted in 2010, the tax might be $200,000 in 2011 and $200,000 in 2012, depending upon other sources of income taxation for the taxpayer. Compare this to the alternative of waiting until the taxpayer was age 71 (in 6 more years) and then having to take only about 4% of the $ 1.0 million (or higher if the $ 1.0 million has grown with investment interest over the 6 year period) as a RMD distribution or $ 40,000 or so and pay tax on only that. Subsequently the distribution and tax would grow higher each year as the holder grew older. However, we cannot ignore the cash flow impact of paying all of the taxes upfront in years 2011 and 2012 versus paying taxes over a long stream of years.
On the positive side, the Roth IRA original amount is tax free once converted, as well as all of the growth in investment earnings. Also, while the traditional IRA requires a RMD based on ages starting about 71, the Roth IRA requires no minimum distribution at all based on age or any other factor. When your children finally inherit the Roth IRA and have the ability to take distributions, they will appreciate the fact that none of the money and the investment earnings on that money is subject to taxation. Also tax rates for many are at historically low levels. It is expected that rates will rise in the future to satisfy the large debt that the FEDERAL government and state governments are accumulating. The tax free Roth IRA becomes even more valuable under this scenario.
IRA L. MARKS CPA, CFP has experience in quantifying the differences on an after tax cash flow basis between converting your traditional IRA into a Roth IRA, based on the gathering of many factors and performing a cash flow analysis over many years. It makes great sense to have this analysis done as soon as possible to make sure you are able to make the appropriate decision as year 2010 approaches.
Please call or email for an appointment to discuss this issue and all the factors in your own personal tax situation.
While traditional IRA’s are fully taxable for FED and State purposes when distributed to the holder, Roth IRA’s are completely free of FED and State taxes. Under prior law, traditional IRA holders with modified incomes (AGI) above $ 100,000 were prohibited from converting into a Roth IRA. For modified AGI of $ 100,000 or below the conversion was allowed, although the tax had to be paid in the year of the conversion. Once converted Roth IRA distributions and earnings on the principal would be free of taxation during the holder’s lifetime, as well as the lifetimes of the beneficiaries ie: wife and then children who would inherit the Roth IRA.
Under TIPRA, the income limit of $ 100,000 has been removed AND the tax due when the conversion takes place in 2010 can be spread over the years 2011 and 2012.
This new tax law has created an opportunity for taxpayers to determine whether the Roth IRA conversion would be appropriate from a tax and cash flow standpoint. To accomplish this, a review of the taxpayer’s traditional IRA size, taxpayer’s age, tax situation, marriage status, expected required minimum distribution (RMD), and whether the taxpayer had children or other secondary beneficiaries.
On the negative side, although the tax due on the 2010 conversion can be spread over the following two years (2011 and 2012), the tax due will come much sooner than the tax due utilizing the RMD of the holder based on distributions according to his age.
For example suppose we have a taxpayer with $ 1.0 million in traditional IRA monies and is 65 years old. If the entire $ 1.0 million was converted in 2010, the tax might be $200,000 in 2011 and $200,000 in 2012, depending upon other sources of income taxation for the taxpayer. Compare this to the alternative of waiting until the taxpayer was age 71 (in 6 more years) and then having to take only about 4% of the $ 1.0 million (or higher if the $ 1.0 million has grown with investment interest over the 6 year period) as a RMD distribution or $ 40,000 or so and pay tax on only that. Subsequently the distribution and tax would grow higher each year as the holder grew older. However, we cannot ignore the cash flow impact of paying all of the taxes upfront in years 2011 and 2012 versus paying taxes over a long stream of years.
On the positive side, the Roth IRA original amount is tax free once converted, as well as all of the growth in investment earnings. Also, while the traditional IRA requires a RMD based on ages starting about 71, the Roth IRA requires no minimum distribution at all based on age or any other factor. When your children finally inherit the Roth IRA and have the ability to take distributions, they will appreciate the fact that none of the money and the investment earnings on that money is subject to taxation. Also tax rates for many are at historically low levels. It is expected that rates will rise in the future to satisfy the large debt that the FEDERAL government and state governments are accumulating. The tax free Roth IRA becomes even more valuable under this scenario.
IRA L. MARKS CPA, CFP has experience in quantifying the differences on an after tax cash flow basis between converting your traditional IRA into a Roth IRA, based on the gathering of many factors and performing a cash flow analysis over many years. It makes great sense to have this analysis done as soon as possible to make sure you are able to make the appropriate decision as year 2010 approaches.
Please call or email for an appointment to discuss this issue and all the factors in your own personal tax situation.
September 2009 Accounting Newsletter
1. SEPT, PODCAST: REASSESSING INVESTMENT STRATEGY
If the performance of your investments over the past year
has you ready to put what's left under a mattress, think
again. Hear from a member of the New Jersey Society of CPAs
about why you don't have to throw in the towel and how a
financial adviser can help navigate the market's volatility.
http://www.moneymattersnj.com/story.cfm?SID=14143
SEE ALSO:
Hatching a Plan to Protect Your Nest Egg in Today’s Rough Economy
http://www.moneymattersnj.com/story.cfm?sid=14058
============================================
2. N.J. SENIOR FREEZE, HOMESTEAD REBATE FILING DEADLINES EXTENDED
The deadline for filing 2008 "Senior Freeze" (Property Tax
Reimbursement Program) and Homestead Rebate applications
with the state of New Jersey has been extended until
November 2, 2009.
http://www.moneymattersnj.com/story.cfm?sid=14151
============================================
3. EIGHT IMPORTANT QUESTIONS FOR HOBBYISTS
Hobbies – such as woodworking, stamp collecting and
scrapbooking – are often done for pleasure, but can result
in a profit. If your favorite activity does make a profit
every year or so, there may be tax implications.
http://www.moneymattersnj.com/story.cfm?sid=14158
============================================
4. CUT COSTS WITH INFORMAL WEDDINGS
Many couples today are seeking ways to cut costs when it
comes to their weddings. One subtle way to cut costs without
having to sacrifice elegance is to have an informal wedding.
http://www.moneymattersnj.com/story.cfm?SID=14140
SEE ALSO:
The Newlyweds’ Guide to Life Insurance
http://www.cpai.com/personal-insurance/insurance
============================================
5. ADDITIONAL HEADLINES
* Fifteen 5-Minute Tasks to Improve Your Finances -
http://www.fiscalfizzle.com/2009/08/five-minute-money-tasks/
* The Best Places to Store Your Cash -
http://www.smartmoney.com/investing/
============================================
If the performance of your investments over the past year
has you ready to put what's left under a mattress, think
again. Hear from a member of the New Jersey Society of CPAs
about why you don't have to throw in the towel and how a
financial adviser can help navigate the market's volatility.
http://www.moneymattersnj.com/story.cfm?SID=14143
SEE ALSO:
Hatching a Plan to Protect Your Nest Egg in Today’s Rough Economy
http://www.moneymattersnj.com/story.cfm?sid=14058
============================================
2. N.J. SENIOR FREEZE, HOMESTEAD REBATE FILING DEADLINES EXTENDED
The deadline for filing 2008 "Senior Freeze" (Property Tax
Reimbursement Program) and Homestead Rebate applications
with the state of New Jersey has been extended until
November 2, 2009.
http://www.moneymattersnj.com/story.cfm?sid=14151
============================================
3. EIGHT IMPORTANT QUESTIONS FOR HOBBYISTS
Hobbies – such as woodworking, stamp collecting and
scrapbooking – are often done for pleasure, but can result
in a profit. If your favorite activity does make a profit
every year or so, there may be tax implications.
http://www.moneymattersnj.com/story.cfm?sid=14158
============================================
4. CUT COSTS WITH INFORMAL WEDDINGS
Many couples today are seeking ways to cut costs when it
comes to their weddings. One subtle way to cut costs without
having to sacrifice elegance is to have an informal wedding.
http://www.moneymattersnj.com/story.cfm?SID=14140
SEE ALSO:
The Newlyweds’ Guide to Life Insurance
http://www.cpai.com/personal-insurance/insurance
============================================
5. ADDITIONAL HEADLINES
* Fifteen 5-Minute Tasks to Improve Your Finances -
http://www.fiscalfizzle.com/2009/08/five-minute-money-tasks/
* The Best Places to Store Your Cash -
http://www.smartmoney.com/investing/
============================================
Friday, August 28, 2009
August 2009 Accounting Newsletter
1. FIVE EASY COST-CUTTING TIPS
During uncertain economic times, everyone is searching for
ways to cut spending. Maybe you’ve already started brown-
bagging lunch and stopped buying $5 lattes, but there’s no
reason to stop there. Here are some other simple steps you
can take to keep more money in your pocket.
http://www.moneymattersnj.com/story.cfm?SID=14110
See Also:
* Tips for Lowering Your Mortgage Payments -
http://www.moneymattersnj.com/story.cfm?SID=14108
==========================================
2. DON'T LET A LOAN RUIN A RELATIONSHIP
Now that banks have tightened their lending standards, it is
more difficult to borrow money — even for those with stellar
credit. So what do you do if you need a loan? Many people
are turning to friends and family to borrow funds. Here are
some ideas to prevent the loan from damaging a good
relationship.
http://www.moneymattersnj.com/story.cfm?sid=14107
==========================================
3. THIS MONTH'S PODCAST: CHOOSING A GUARDIAN FOR YOUR CHILDREN
Choosing a personal guardian - someone to raise your
children in the unlikely event you can't - is not an easy
thing to consider. But with a simple arrangement, you can
feel confident that if you can't raise your kids, they will
be well cared for.
http://www.moneymattersnj.com/story.cfm?SID=14047
==========================================
4. FINDING A JOB IN A DOWN ECONOMY
If you are among the thousands of people seeking work, it’s
important not to give up hope. As you conduct your search,
there are many ways to improve your prospects and ensure
that you present yourself as the best person for the job.
http://www.moneymattersnj.com/story.cfm?SID=14104
==========================================
5. TIPS FOR KEEPING YOUR JOB IN A RECESSION
Every day, it seems as if the news is filled with reports of
layoffs and job cuts at more and more companies. If you’re
concerned about the safety of your own position, here are
some steps you can take to recession-proof your situation.
http://www.moneymattersnj.com/story.cfm?sid=14106
==========================================
6. ADDITIONAL HEADLINES
* Seven Tax Facts About Selling Your Home -
http://www.moneymattersnj.com/story.cfm?sid=14109
* Beware of First-Time Homebuyer Credit Fraud -
http://www.moneymattersnj.com/story.cfm?sid=14099
* Stop Using Credit Cards Irresponsibly -
http://financialmethods.org/2009/07/stop-using-credit-cards-irresponsibly.html
* Seven Tips for Students with a Summer Job -
http://www.moneymattersnj.com/story.cfm?sid=14077
* The Road to Vacation Can Lead to Savings -
http://www.moneymattersnj.com/story.cfm?sid=14057
==========================================
During uncertain economic times, everyone is searching for
ways to cut spending. Maybe you’ve already started brown-
bagging lunch and stopped buying $5 lattes, but there’s no
reason to stop there. Here are some other simple steps you
can take to keep more money in your pocket.
http://www.moneymattersnj.com/story.cfm?SID=14110
See Also:
* Tips for Lowering Your Mortgage Payments -
http://www.moneymattersnj.com/story.cfm?SID=14108
==========================================
2. DON'T LET A LOAN RUIN A RELATIONSHIP
Now that banks have tightened their lending standards, it is
more difficult to borrow money — even for those with stellar
credit. So what do you do if you need a loan? Many people
are turning to friends and family to borrow funds. Here are
some ideas to prevent the loan from damaging a good
relationship.
http://www.moneymattersnj.com/story.cfm?sid=14107
==========================================
3. THIS MONTH'S PODCAST: CHOOSING A GUARDIAN FOR YOUR CHILDREN
Choosing a personal guardian - someone to raise your
children in the unlikely event you can't - is not an easy
thing to consider. But with a simple arrangement, you can
feel confident that if you can't raise your kids, they will
be well cared for.
http://www.moneymattersnj.com/story.cfm?SID=14047
==========================================
4. FINDING A JOB IN A DOWN ECONOMY
If you are among the thousands of people seeking work, it’s
important not to give up hope. As you conduct your search,
there are many ways to improve your prospects and ensure
that you present yourself as the best person for the job.
http://www.moneymattersnj.com/story.cfm?SID=14104
==========================================
5. TIPS FOR KEEPING YOUR JOB IN A RECESSION
Every day, it seems as if the news is filled with reports of
layoffs and job cuts at more and more companies. If you’re
concerned about the safety of your own position, here are
some steps you can take to recession-proof your situation.
http://www.moneymattersnj.com/story.cfm?sid=14106
==========================================
6. ADDITIONAL HEADLINES
* Seven Tax Facts About Selling Your Home -
http://www.moneymattersnj.com/story.cfm?sid=14109
* Beware of First-Time Homebuyer Credit Fraud -
http://www.moneymattersnj.com/story.cfm?sid=14099
* Stop Using Credit Cards Irresponsibly -
http://financialmethods.org/2009/07/stop-using-credit-cards-irresponsibly.html
* Seven Tips for Students with a Summer Job -
http://www.moneymattersnj.com/story.cfm?sid=14077
* The Road to Vacation Can Lead to Savings -
http://www.moneymattersnj.com/story.cfm?sid=14057
==========================================
Monday, July 13, 2009
July 2009 Accounting Newsletter
1. IS A REVERSE MORTGAGE RIGHT FOR YOU?
A reverse mortgage has become a popular option for seniors
who would like to reap some of the benefits of the equity
they have accumulated in their homes. However, it’s
important to be aware of both the advantages and drawbacks
of this type of loan.
http://www.moneymattersnj.com/story.cfm?sid=14003
==========================================
2. AVOID INVESTMENT SCAMS
There are many con artists out there trying to take
advantage of people eager to offset their market losses in
the current economy. Here are some tips on how to avoid
being scammed.
http://www.moneymattersnj.com/story.cfm?SID=14005
==========================================
3. CHOOSING AN ELDERCARE FACILITY
As people grow older, many choose to continue living on
their own or move in with family. However, some prefer to
reside with people closer to their own age or need to live
in a facility that can cater to their changing medical
needs. What should you keep in mind if you must choose an
eldercare facility for yourself or a loved one?
http://www.moneymattersnj.com/story.cfm?sid=14006
==========================================
4. FIVE TIPS FOR SHOPPING AT LIQUIDATION SALES
One of the unfortunate consequences of a bad economy is a
stream of liquidation sales, where retailers slash prices to
unload merchandise before going out of business. Consumers
can find some great bargains at these sales, but there are
pitfalls to avoid in order to get a good deal.
http://www.moneymattersnj.com/story.cfm?sid=14007
A reverse mortgage has become a popular option for seniors
who would like to reap some of the benefits of the equity
they have accumulated in their homes. However, it’s
important to be aware of both the advantages and drawbacks
of this type of loan.
http://www.moneymattersnj.com/story.cfm?sid=14003
==========================================
2. AVOID INVESTMENT SCAMS
There are many con artists out there trying to take
advantage of people eager to offset their market losses in
the current economy. Here are some tips on how to avoid
being scammed.
http://www.moneymattersnj.com/story.cfm?SID=14005
==========================================
3. CHOOSING AN ELDERCARE FACILITY
As people grow older, many choose to continue living on
their own or move in with family. However, some prefer to
reside with people closer to their own age or need to live
in a facility that can cater to their changing medical
needs. What should you keep in mind if you must choose an
eldercare facility for yourself or a loved one?
http://www.moneymattersnj.com/story.cfm?sid=14006
==========================================
4. FIVE TIPS FOR SHOPPING AT LIQUIDATION SALES
One of the unfortunate consequences of a bad economy is a
stream of liquidation sales, where retailers slash prices to
unload merchandise before going out of business. Consumers
can find some great bargains at these sales, but there are
pitfalls to avoid in order to get a good deal.
http://www.moneymattersnj.com/story.cfm?sid=14007
Wednesday, June 24, 2009
June 2009 Accounting Newsletter
1. IS BANKRUPTCY THE RIGHT CHOICE?
During the current economic recession, many have lost their
jobs, seen their credit lines cut or experienced other
serious financial misfortunes. When the bills pile up and
times become desperate, many people begin to question
whether declaring bankruptcy is a viable option for them.
There are many issues to consider before taking this drastic
step.
http://www.moneymattersnj.com/story.cfm?sid=13971
> SEE ALSO: Answers to Your Bankruptcy Questions -
http://www.bizactions.com/index.cfm/ba/e105/f/
============================================================
2. IS NOW A GOOD TIME TO REFINANCE?
Interest rates often fall during tough economic times.
That’s good news for homeowners who would like to shave a
few dollars off their monthly mortgage payments. However,
refinancing is only a good idea under the right
circumstances. Here's some advice on deciding whether the
time is right for you.
http://www.moneymattersnj.com/story.cfm?SID=13970
============================================================
3. GREAT GIFTS FOR THE GRADUATE
One-third of all Americans typically give at least one
graduation gift at this time of year, and sometimes it can
be difficult to find just the right one to mark the occasion.
Here are several money-wise steps to make sure recent grads
start off on sound financial footing.
http://www.moneymattersnj.com/story.cfm?sid=13968
============================================================
4. CUTTING WEDDING COSTS
Congratulations, you’re getting married! Here are some tips
for having a memorable day while sticking to a realistic
budget.
http://www.moneymattersnj.com/story.cfm?sid=13967
============================================================
5. ADDITIONAL HEADLINES
* Five Places to Find Summer Travel Deals -
http://www.smartmoney.com/spending/
* Smart Steps for Renting a First Apartment -
http://www.moneymattersnj.com/story.cfm?sid=13969
* New Jersey Extends Filing Deadlines for 2008 Homestead Rebate
and Senior Freeze Applications -
http://www.moneymattersnj.com/story.cfm?SID=13975
During the current economic recession, many have lost their
jobs, seen their credit lines cut or experienced other
serious financial misfortunes. When the bills pile up and
times become desperate, many people begin to question
whether declaring bankruptcy is a viable option for them.
There are many issues to consider before taking this drastic
step.
http://www.moneymattersnj.com/story.cfm?sid=13971
> SEE ALSO: Answers to Your Bankruptcy Questions -
http://www.bizactions.com/index.cfm/ba/e105/f/
============================================================
2. IS NOW A GOOD TIME TO REFINANCE?
Interest rates often fall during tough economic times.
That’s good news for homeowners who would like to shave a
few dollars off their monthly mortgage payments. However,
refinancing is only a good idea under the right
circumstances. Here's some advice on deciding whether the
time is right for you.
http://www.moneymattersnj.com/story.cfm?SID=13970
============================================================
3. GREAT GIFTS FOR THE GRADUATE
One-third of all Americans typically give at least one
graduation gift at this time of year, and sometimes it can
be difficult to find just the right one to mark the occasion.
Here are several money-wise steps to make sure recent grads
start off on sound financial footing.
http://www.moneymattersnj.com/story.cfm?sid=13968
============================================================
4. CUTTING WEDDING COSTS
Congratulations, you’re getting married! Here are some tips
for having a memorable day while sticking to a realistic
budget.
http://www.moneymattersnj.com/story.cfm?sid=13967
============================================================
5. ADDITIONAL HEADLINES
* Five Places to Find Summer Travel Deals -
http://www.smartmoney.com/spending/
* Smart Steps for Renting a First Apartment -
http://www.moneymattersnj.com/story.cfm?sid=13969
* New Jersey Extends Filing Deadlines for 2008 Homestead Rebate
and Senior Freeze Applications -
http://www.moneymattersnj.com/story.cfm?SID=13975
Monday, May 25, 2009
May 2009 Accounting Newsletter
1. THIS MONTH'S PODCAST: WHAT TO DO WITH YOUR TAX REFUND
You've finally settled up with Uncle Sam and got a refund.
So what should you do with the extra cash? A member of the
New Jersey Society of CPAs has some suggestions in this
month's podcast.
http://www.moneymattersnj.com/story.cfm?sid=13907
============================================================
2. PROTECTING YOUR RETIREMENT SAVINGS
Problems in the stock market have affected virtually every
sector of the economy, but the impact on retirement accounts
has been the most worrisome for many people. Here are some
steps you can take now to protect your remaining savings.
http://www.moneymattersnj.com/story.cfm?sid=13850
============================================================
3. BORROWING FROM YOUR COMPANY RETIREMENT PLAN
Tapping into your retirement plan during a financial
emergency can be an acceptable step in the absence of other
borrowing options. Here's how to make the most of this
borrowing option and avoid common mistakes.
http://www.moneymattersnj.com/story.cfm?sid=13851
============================================================
4. NEW JERSEY TAX AMNESTY PROGRAM: MAY 4 - JUNE 15
The New Jersey Division of Taxation has initiated a
limited-time Tax Amnesty program for individuals and
businesses that, due to tough economic times, owe taxes and
are confronted with accumulating interest payments and
penalties. From Monday, May 4, until June 15, 2009, the
Division will waive all penalties and forgive half of the
interest owed.
http://www.moneymattersnj.com/story.cfm?SID=13894
============================================================
5. HOW TO LOWER YOUR PRESCRIPTION DRUG COSTS
Many people struggle to meet the steep price of medications
for their families, particularly in a tough economy. Here
are some tips to make this necessary expense more affordable.
http://www.moneymattersnj.com/story.cfm?SID=13852
============================================================
6. ADDITIONAL HEADLINES
* Smart Steps for Funeral Planning -
http://www.moneymattersnj.com/story.cfm?sid=13853
* Beware of the 2009 "Dirty Dozen" Tax Scams -
http://www.moneymattersnj.com/story.cfm?sid=13842
* Nest Egg 2009: Five Ways to Stretch Your Savings -
http://www.smartmoney.com/Personal-Finance
You've finally settled up with Uncle Sam and got a refund.
So what should you do with the extra cash? A member of the
New Jersey Society of CPAs has some suggestions in this
month's podcast.
http://www.moneymattersnj.com/story.cfm?sid=13907
============================================================
2. PROTECTING YOUR RETIREMENT SAVINGS
Problems in the stock market have affected virtually every
sector of the economy, but the impact on retirement accounts
has been the most worrisome for many people. Here are some
steps you can take now to protect your remaining savings.
http://www.moneymattersnj.com/story.cfm?sid=13850
============================================================
3. BORROWING FROM YOUR COMPANY RETIREMENT PLAN
Tapping into your retirement plan during a financial
emergency can be an acceptable step in the absence of other
borrowing options. Here's how to make the most of this
borrowing option and avoid common mistakes.
http://www.moneymattersnj.com/story.cfm?sid=13851
============================================================
4. NEW JERSEY TAX AMNESTY PROGRAM: MAY 4 - JUNE 15
The New Jersey Division of Taxation has initiated a
limited-time Tax Amnesty program for individuals and
businesses that, due to tough economic times, owe taxes and
are confronted with accumulating interest payments and
penalties. From Monday, May 4, until June 15, 2009, the
Division will waive all penalties and forgive half of the
interest owed.
http://www.moneymattersnj.com/story.cfm?SID=13894
============================================================
5. HOW TO LOWER YOUR PRESCRIPTION DRUG COSTS
Many people struggle to meet the steep price of medications
for their families, particularly in a tough economy. Here
are some tips to make this necessary expense more affordable.
http://www.moneymattersnj.com/story.cfm?SID=13852
============================================================
6. ADDITIONAL HEADLINES
* Smart Steps for Funeral Planning -
http://www.moneymattersnj.com/story.cfm?sid=13853
* Beware of the 2009 "Dirty Dozen" Tax Scams -
http://www.moneymattersnj.com/story.cfm?sid=13842
* Nest Egg 2009: Five Ways to Stretch Your Savings -
http://www.smartmoney.com/Personal-Finance
Sunday, April 12, 2009
April 2009 Accounting Newsletter
1. DEALING WITH DEBT COLLECTORS
It’s not uncommon to fall behind on debt payments, particularly in a troubled economy. If you have missed payments on your mortgage, credit card or other outstanding debt, you may hear from a debt collector. Here's some advice on how to deal with collection agencies if you find yourself in this situation.
http://www.moneymattersnj.com/story.cfm?SID=13795
============================================================
2. THIS MONTH'S PODCAST: HSAs VERSUS FSAs
Health Savings Accounts (HSAs) share some similarities with Flexible Spending Accounts (FSAs) and other medical spending accounts, but there are important differences. Hear from an expert about how ownership, savings, spending and claims
differ across these accounts and learn the best option for your situation.
http://www.moneymattersnj.com/story.cfm?sid=13803
============================================================
3. HELPING AGING RELATIVES IN TOUGH ECONOMIC TIMES
The downturn in the economy has taken a toll on everyone, but senior citizens are often hardest hit. Here's some advice on how to help your parents or other aging relatives weather a recession.
http://www.moneymattersnj.com/story.cfm?sid=13796
============================================================
4. FINANCIAL ADVICE FOR NEW PARENTS
A new baby is a joyous addition to any family. But children also bring added financial responsibilities for new parents. Here's some advice on making the right financial choices for your growing family.
http://www.moneymattersnj.com/story.cfm?sid=13797
============================================================
5. THREE SCAMS TO AVOID IN TOUGH TIMES
Many people have lost their jobs in the last few months as the economy falters. Scam artists are still fully employed, however, in good times and bad. Learn the tell-tale signs of three common financial scams.
http://www.moneymattersnj.com/story.cfm?SID=13798
============================================================
6. HOW TO BLOW YOUR CREDIT LIMIT - WITHOUT SPENDING
If you haven’t had the credit limit cut on your credit card recently, consider yourself lucky. Risk-averse card issuers are increasingly cutting cardholder's limits - sometimes to
amounts below what the cardholder currently owes.
http://www.smartmoney.com/spending/deals/
It’s not uncommon to fall behind on debt payments, particularly in a troubled economy. If you have missed payments on your mortgage, credit card or other outstanding debt, you may hear from a debt collector. Here's some advice on how to deal with collection agencies if you find yourself in this situation.
http://www.moneymattersnj.com/story.cfm?SID=13795
============================================================
2. THIS MONTH'S PODCAST: HSAs VERSUS FSAs
Health Savings Accounts (HSAs) share some similarities with Flexible Spending Accounts (FSAs) and other medical spending accounts, but there are important differences. Hear from an expert about how ownership, savings, spending and claims
differ across these accounts and learn the best option for your situation.
http://www.moneymattersnj.com/story.cfm?sid=13803
============================================================
3. HELPING AGING RELATIVES IN TOUGH ECONOMIC TIMES
The downturn in the economy has taken a toll on everyone, but senior citizens are often hardest hit. Here's some advice on how to help your parents or other aging relatives weather a recession.
http://www.moneymattersnj.com/story.cfm?sid=13796
============================================================
4. FINANCIAL ADVICE FOR NEW PARENTS
A new baby is a joyous addition to any family. But children also bring added financial responsibilities for new parents. Here's some advice on making the right financial choices for your growing family.
http://www.moneymattersnj.com/story.cfm?sid=13797
============================================================
5. THREE SCAMS TO AVOID IN TOUGH TIMES
Many people have lost their jobs in the last few months as the economy falters. Scam artists are still fully employed, however, in good times and bad. Learn the tell-tale signs of three common financial scams.
http://www.moneymattersnj.com/story.cfm?SID=13798
============================================================
6. HOW TO BLOW YOUR CREDIT LIMIT - WITHOUT SPENDING
If you haven’t had the credit limit cut on your credit card recently, consider yourself lucky. Risk-averse card issuers are increasingly cutting cardholder's limits - sometimes to
amounts below what the cardholder currently owes.
http://www.smartmoney.com/spending/deals/
March 2009 Accounting Newsletter
1. SIX WAYS TO STRETCH YOUR DOLLAR
It's always a good idea to spend your money wisely, but during tough economic times these smart steps are even more important. Here are some tips for getting the most out of
every dollar that you spend.
http://www.moneymattersnj.com/story.cfm?SID=13749
============================================================
2. THIS MONTH'S PODCAST: HOW TO SURVIVE LOSING YOUR JOB
In a troubled economy, many companies are cutting back. But if you are laid off, stay positive and don't panic. Hear from a member of the New Jersey Society of CPAs about
strategies for evaluating your finances and finding that
next job.
http://www.moneymattersnj.com/story.cfm?sid=13752
============================================================
3. AVOIDING A TAX AUDIT
All taxpayers dread the prospect of facing an Internal Revenue Service audit. But there are steps you can take to minimize the likelihood that you'll be audited or at least ensure a more positive experience if you are.
http://www.moneymattersnj.com/story.cfm?sid=13747
============================================================
4. FIVE MISTAKES THAT CAN BUST YOUR BUDGET
Making - and sticking to - a household budget can help you conserve cash and limit your credit needs in tough economic times. There are some traps, however, that can bust your
budget quickly, despite your best intentions.
http://www.moneymattersnj.com/story.cfm?SID=13748
============================================================
5. HANDLING DEBT IN A DIVORCE
Divorce is usually a very emotional and difficult time in life, and it can also raise troubling financial questions. Here's some advice on how to smooth out problems and avoid unnecessary friction when finances become an issue.
http://www.moneymattersnj.com/story.cfm?SID=13751
It's always a good idea to spend your money wisely, but during tough economic times these smart steps are even more important. Here are some tips for getting the most out of
every dollar that you spend.
http://www.moneymattersnj.com/story.cfm?SID=13749
============================================================
2. THIS MONTH'S PODCAST: HOW TO SURVIVE LOSING YOUR JOB
In a troubled economy, many companies are cutting back. But if you are laid off, stay positive and don't panic. Hear from a member of the New Jersey Society of CPAs about
strategies for evaluating your finances and finding that
next job.
http://www.moneymattersnj.com/story.cfm?sid=13752
============================================================
3. AVOIDING A TAX AUDIT
All taxpayers dread the prospect of facing an Internal Revenue Service audit. But there are steps you can take to minimize the likelihood that you'll be audited or at least ensure a more positive experience if you are.
http://www.moneymattersnj.com/story.cfm?sid=13747
============================================================
4. FIVE MISTAKES THAT CAN BUST YOUR BUDGET
Making - and sticking to - a household budget can help you conserve cash and limit your credit needs in tough economic times. There are some traps, however, that can bust your
budget quickly, despite your best intentions.
http://www.moneymattersnj.com/story.cfm?SID=13748
============================================================
5. HANDLING DEBT IN A DIVORCE
Divorce is usually a very emotional and difficult time in life, and it can also raise troubling financial questions. Here's some advice on how to smooth out problems and avoid unnecessary friction when finances become an issue.
http://www.moneymattersnj.com/story.cfm?SID=13751
Tuesday, February 17, 2009
February 2009 Accounting Newsletter
1. BUYING OR SELLING A HOME IN A RECESSION
If you're shopping for a mortgage or trying to sell your home these days, it's a whole new world out there. The days of easy credit and skyrocketing home values are long gone. So what do you do? Hear from a New Jersey CPA and a real estate expert about how to buy or sell a home during a recession.
http://www.moneymattersnj.com/story.cfm?sid=13691
* SEE ALSO: Preparing Your Home for Sale -
http://www.moneymattersnj.com/story.cfm?SID=13677
============================================================
2. QUALIFYING FOR A MORTGAGE IN A TOUGH ECONOMY
Although banks currently have stricter lending rules, it is still possible to qualify for a mortgage in this difficult economy. Here are a few steps that may make it easier.
http://www.moneymattersnj.com/story.cfm?sid=13678
============================================================
3. IRS OFFERS TIPS TO AVOID RECOVERY REBATE CREDIT CONFUSION
In response to errors showing up on early tax filings, the Internal Revenue Service is urging taxpayers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns.
http://www.moneymattersnj.com/story.cfm?SID=13681
============================================================
4. RETIREMENT SAVINGS STEPS TO TAKE NOW
The recent turmoil in the financial markets has touched virtually every sector of the economy. One huge source of anxiety for many people is the state of their retirement savings. The market will always be volatile, but there are steps you can take to better protect yourself for the future.
http://www.moneymattersnj.com/story.cfm?SID=13679
============================================================
5. THREE TIPS FOR RENEGOTIATING YOUR MORTGAGE
Banks are more willing than ever to help homeowners avoid foreclosure, and terms may improve further if Congress includes additional incentives for banks to help homeowners as part of the economic stimulus package under consideration. Here’s what you need to know. http://www.smartmoney.com/Personal-Finance/Real-Estate/
=============================================================
If you're shopping for a mortgage or trying to sell your home these days, it's a whole new world out there. The days of easy credit and skyrocketing home values are long gone. So what do you do? Hear from a New Jersey CPA and a real estate expert about how to buy or sell a home during a recession.
http://www.moneymattersnj.com/story.cfm?sid=13691
* SEE ALSO: Preparing Your Home for Sale -
http://www.moneymattersnj.com/story.cfm?SID=13677
============================================================
2. QUALIFYING FOR A MORTGAGE IN A TOUGH ECONOMY
Although banks currently have stricter lending rules, it is still possible to qualify for a mortgage in this difficult economy. Here are a few steps that may make it easier.
http://www.moneymattersnj.com/story.cfm?sid=13678
============================================================
3. IRS OFFERS TIPS TO AVOID RECOVERY REBATE CREDIT CONFUSION
In response to errors showing up on early tax filings, the Internal Revenue Service is urging taxpayers to make sure they properly determine eligibility for the recovery rebate credit before they file their 2008 federal tax returns.
http://www.moneymattersnj.com/story.cfm?SID=13681
============================================================
4. RETIREMENT SAVINGS STEPS TO TAKE NOW
The recent turmoil in the financial markets has touched virtually every sector of the economy. One huge source of anxiety for many people is the state of their retirement savings. The market will always be volatile, but there are steps you can take to better protect yourself for the future.
http://www.moneymattersnj.com/story.cfm?SID=13679
============================================================
5. THREE TIPS FOR RENEGOTIATING YOUR MORTGAGE
Banks are more willing than ever to help homeowners avoid foreclosure, and terms may improve further if Congress includes additional incentives for banks to help homeowners as part of the economic stimulus package under consideration. Here’s what you need to know. http://www.smartmoney.com/Personal-Finance/Real-Estate/
=============================================================
Tuesday, January 27, 2009
January 2009 Accounting Newsletter
1. RECORDS ORGANIZED
It never seems important to keep financial papers
organized - that is, until you need them! Save yourself the
panic by getting the job done now.
http://www.moneymattersnj.com/story.cfm?SID=13622
============================================================
2. HOW TO SAVE ON GASOLINE COSTS
The cost of fuel may have dropped since its surge last year,
but saving money on gasoline is always a top priority for
consumers. While you may have no control over prices at the
pump, there are steps you can take to be a smarter gas consumer.
http://www.moneymattersnj.com/story.cfm?sid=13608
============================================================
3. SMART STEPS TO TAKE IF YOU ARE LAID OFF
In a troubled economy, many companies are cutting jobs. Here
are some strategies for keeping your finances in order even
if you lose your job.
http://www.moneymattersnj.com/story.cfm?SID=13609
============================================================
4. WHAT TO DO IF YOUR WALLET IS STOLEN
You check your purse or pocket and discover the worst has
happened - your wallet has been stolen. What should you do
first? Your wallet contains not only your money but also
credit cards, your driver’s license and other
identification. Here's some advice for if you find yourself
in this situation.
http://www.moneymattersnj.com/story.cfm?SID=13610
============================================================
5. HOW TO CHOOSE THE BEST BANK FOR YOU
When opening a checking or savings account, security and
convenience top the list of must-haves. But how do you know
which bank, savings and loan or other choice is the right
one for you?
http://www.moneymattersnj.com/story.cfm?sid=13607
============================================================
6. ADDITIONAL HEADLINES
* Seven Ways to Save in 2009
* Retirement Resolutions for the New Year
* Five Ways to Boost a Financial Aid Package
=================================================
It never seems important to keep financial papers
organized - that is, until you need them! Save yourself the
panic by getting the job done now.
http://www.moneymattersnj.com/story.cfm?SID=13622
============================================================
2. HOW TO SAVE ON GASOLINE COSTS
The cost of fuel may have dropped since its surge last year,
but saving money on gasoline is always a top priority for
consumers. While you may have no control over prices at the
pump, there are steps you can take to be a smarter gas consumer.
http://www.moneymattersnj.com/story.cfm?sid=13608
============================================================
3. SMART STEPS TO TAKE IF YOU ARE LAID OFF
In a troubled economy, many companies are cutting jobs. Here
are some strategies for keeping your finances in order even
if you lose your job.
http://www.moneymattersnj.com/story.cfm?SID=13609
============================================================
4. WHAT TO DO IF YOUR WALLET IS STOLEN
You check your purse or pocket and discover the worst has
happened - your wallet has been stolen. What should you do
first? Your wallet contains not only your money but also
credit cards, your driver’s license and other
identification. Here's some advice for if you find yourself
in this situation.
http://www.moneymattersnj.com/story.cfm?SID=13610
============================================================
5. HOW TO CHOOSE THE BEST BANK FOR YOU
When opening a checking or savings account, security and
convenience top the list of must-haves. But how do you know
which bank, savings and loan or other choice is the right
one for you?
http://www.moneymattersnj.com/story.cfm?sid=13607
============================================================
6. ADDITIONAL HEADLINES
* Seven Ways to Save in 2009
* Retirement Resolutions for the New Year
* Five Ways to Boost a Financial Aid Package
=================================================
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