March 2010 Accounting Newsletter

1. TALKING TO AGING PARENTS ABOUT MONEY
While almost no one would disagree about the importance of talking to their aging parents or other family members about money, there sometimes is a big disconnect between thinking that something is a good idea and actually doing it. Hear from a member of the New Jersey Society of CPAs about how to handle this uncomfortable, yet essential, discussion. http://www.moneymattersnj.com/story.cfm?sid=14646

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2. UNDERSTANDING THE ABCS OF THE AMT
Many people are often surprised to find themselves subject to the alternative minimum tax (AMT). Although this tax was originally intended for a narrow group of taxpayers, it is now estimated to have an impact on millions of people. Here's what you need to know about it. http://www.moneymattersnj.com/story.cfm?SID=14636

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3. IS NOW THE RIGHT TIME TO CONVERT TO A ROTH IRA?
Converting a traditional IRA to a Roth IRA can offer greater flexibility in retirement. And beginning this year, more taxpayers are eligible to make this conversion. However, there are benefits as well as drawbacks to this step. http://www.moneymattersnj.com/story.cfm?SID=14637

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4. TAX RELIEF FOR PONZI SCHEME LOSSES
The name Bernard Madoff will forever be associated with investment fraud. Unfortunately, Madoff is not the only villain involved in handling the money of trusting investors. If you've fallen victim to one of these schemes, you may qualify for tax relief on your investment scam losses. http://www.moneymattersnj.com/story.cfm?SID=14639

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5. ADDITIONAL HEADLINES

* Daily Tax Tips - http://www.moneymattersnj.com/taxplanning/tips.cfm

* Update on Education Tax Credits - http://www.moneymattersnj.com/story.cfm?SID=14638

* Does Your Small Business Have an NOL? - http://www.moneymattersnj.com/story.cfm?SID=14642

February 2010 Accounting Newsletter

1. Having a Tax Planning Checklist

How many times have you asked yourself, "Have I got EVERYTHING I need to do my taxes?" Probably too many times. While the tax laws may change yearly, the basic information you need to do your return or take to your tax preparer doesn't change that much. This podcast, featuring a member of the New Jersey Society of CPAs, will discuss all the data you might need and what you should do with it. http://www.moneymattersnj.com/story.cfm?SID=14577

> SEE ALSO: Getting Organized at Tax Time - http://www.moneymattersnj.com/story.cfm?SID=14566

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2. Tax Advantages of Home Ownership

There are significant tax advantages that can make the prospect of home ownership more affordable. As a result of the sluggish economy, the federal government has recently extended a popular tax credit through June 2010 and broadened the number of people who qualify. http://www.moneymattersnj.com/story.cfm?SID=14564

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3. Tax Time Questions for Your CPA

Tackling your tax return can be daunting. That’s why it’s a good idea to arrive at your tax return preparation appointment ready with questions that will help clarify the issues that concern you most. Here are some tips on what to ask your tax preparer at tax time. http://www.moneymattersnj.com/story.cfm?SID=14565

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4. America Saves

February 21-28 is America Saves Week 2010. Learn about proven savings strategies, and get simple tips on the best ways to save. http://www.americasaves.org/strategies/