Ira L. Marks Monthly Accounting Newsletter NewJerseyCPA.com imarkscpa.com

December 2011 Accounting Newsletter

2012-01-22T16:49:00.000-08:00

1. 2012 FINANCIAL FITNESS CALENDAR NOW AVAILABLE
The New Jersey Society of CPAs is offering its 2012 Financial Fitness Calendar. This FREE calendar is an easy-to-follow resource guide, complete with handy tips and tools for improving your financial health. Request your free copy today! http://www.moneymattersnj.com/resources/calendar.cfm

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2. HOW TO SHOP ONLINE SAFELY THIS HOLIDAY SEASON
The 2011 holiday season is in full swing, and shoppers are making online purchases in record numbers. With credit card numbers flying through cyberspace, follow these tips to protect your security and prevent an online Grinch from ruining your holidays.
http://www.moneymattersnj.com/story.cfm?sid=15535

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3. FIVE QUESTIONS TO ASK YOUR FAVORITE CHARITY
It's very gratifying to make donations to a worthy charity and know you're making a difference. But whenever you make a gift, you also want to be sure that your money will be used wisely. Here are some questions to ask before you give. http://www.moneymattersnj.com/story.cfm?sid=15537

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4. PODCAST: AVOIDING TAX SCAMS
As we approach another income tax filing season, taxpayers are cautioned to watch out for any fraudulent activity that could result in identity theft. Here are some tips on protecting your personal information, avoiding the most common types of tax scams and taking the appropriate steps if you think you’ve fallen victim to any kind of tax fraud.
http://www.moneymattersnj.com/story.cfm?sid=15533

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5. HOW TO SPEND YOUR MONEY IN RETIREMENT
The good news: We're living longer. The bad news: We'll need a way to pay our living expenses for our longer lives. How do you make sure your retirement income lasts as long as you do?
http://www.moneymattersnj.com/story.cfm?SID=15534

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6. UNDERSTANDING MEDICARE
There have been some important changes in laws affecting Medicare during the past year, but some other aspects of the program remain the same. With a new wave of Baby Boomers reaching age 65 each year, here is some information to ensure your coverage and minimize potential added costs.
http://www.moneymattersnj.com/story.cfm?SID=15536

November 2011Accounting Newsletter

2012-01-22T16:47:00.000-08:00

1. TAX PLANNING STEPS TO TAKE NOW
There are less than two months left in 2011. Have you done everything possible to simplify your tax situation and take advantage of all tax breaks available to you? http://www.moneymattersnj.com/story.cfm?sid=15525

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2. MAKE YOUR CREDIT CARD WORK FOR YOU
If you’re like most people, your mailbox is overflowing with credit card offers. Before you shred the next batch, see what the credit card companies are offering these days. You might find a deal that’s better than what you already have. http://www.moneymattersnj.com/story.cfm?sid=15527

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3. PODCAST: FRAUD AND THE ELDERLY
Seniors repeatedly fall prey to financial fraud, the fastest growing form of elder abuse. Find out what you can do now to protect yourself or your aging loved ones. http://www.moneymattersnj.com/story.cfm?sid=15529

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4. FIVE WAYS TO TEACH KIDS IMPORTANT LESSONS ABOUT MONEY
Are you happy with your child's understanding of money? Many people want to ensure their children learn positive values when it comes to money, but they are not sure how to instill these values.
http://www.moneymattersnj.com/story.cfm?SID=15526

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5. WRITING A SMALL BUSINESS PLAN
It’s exciting when you come up with a creative business concept and are ready to launch a new commercial endeavor. Planning and analysis are important first steps to laying the groundwork for success.
http://www.moneymattersnj.com/story.cfm?SID=15528

October 2011 Accounting Newsletter

2012-01-22T16:43:00.000-08:00

1. GO GREEN, SAVE GREEN
You may never have thought of yourself as the environmentally friendly type, but what if going green meant saving cash? Don’t worry, you don’t have to live in a sod house and compost while wearing knee-high rubber boots to impact your budget’s bottom line. There are many simple ways to make changes, save money and help the environment at the same time.
http://www.moneymattersnj.com/story.cfm?sid=15521

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2. PODCAST: HOME EQUITY LOANS
If you're a homeowner wondering if a home equity loan is right for you, you'll want to hear the advice of New Jersey Society of CPAs member Jeffrey Christakos, CPA. Also find out the difference between a home equity loan and a home equity line of credit.
http://www.moneymattersnj.com/story.cfm?sid=15523

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3. TIPS FOR SAVING MONEY ON THE FIRST YEAR OF COLLEGE
Everyone knows that college tuition and fees are very expensive, but what about the many other costs associated with higher education, such as books, travel, dorm accessories and other college necessities? Here are some tips for saving on college expenses. http://www.moneymattersnj.com/story.cfm?SID=15518

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4. SAVE MONEY THIS WINTER BY CUTTING YOUR HOME HEATING BILLS
The leaves are falling and so is the temperature. Ready to break out your flannel pajamas? While bundling up is a great idea when the temperatures dip, you can take some steps to winterize your home that will not only keep you warm, but also save you some money on your heating bills.
http://www.moneymattersnj.com/story.cfm?sid=15520

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5. WHAT COLLEGE STUDENTS NEED TO KNOW ABOUT CREDIT CARDS
Whether young adults get a credit card now or later, it’s a good idea for them to learn good credit habits early. Here are some tips to avoid credit pitfalls. http://www.moneymattersnj.com/story.cfm?SID=15519

September 2011 Accounting Newsletter

2011-10-15T16:53:00.000-07:00

3. KEEPING CALM IN A CRAZY MARKET
The Dow’s recent ups and downs are enough to cause even the most confident investor concern. And although it may be tempting to panic and pull out of the stock market entirely, it’s important to stay cool, calm and collected despite the market’s unpredictability. http://www.moneymattersnj.com/story.cfm?sid=15505

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4. HURRICANE IRENE TAX RELIEF
The IRS has announced tax relief for individuals and businesses in New Jersey, New York, North Carolina, Connecticut, Vermont and Massachusetts that have been severely impacted by Hurricane Irene. http://www.njscpa.org/news/topics/irene

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5. FIVE SMART QUESTIONS TO ASK WHEN STARTING A BUSINESS
Entrepreneurs launch roughly 600,000 new small businesses in the United States each year. If you dream of running your own shop, ask these questions to be sure you get off on the right foot. http://www.moneymattersnj.com/story.cfm?sid=15512

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6. FINANCIAL FRAUD AND THE ELDERLY
Financial fraud affecting the nation’s elderly population isn’t merely a story you see on the evening news. It’s a growing problem, and statistically, it could happen to you or someone you know. http://www.moneymattersnj.com/story.cfm?sid=15514

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7. RETIREMENT PLANNING OPTIONS FOR THE SELF-EMPLOYED
More than 9 million self-employed people are not covered by a retirement plan. The New Jersey Society of CPAs offers some perspective and explains some retirement savings options for the self-employed. http://www.moneymattersnj.com/story.cfm?sid=15511

August 2011 Accounting Newsletter

2011-10-15T16:51:00.000-07:00

1. HOW’S YOUR FINANCIAL HEALTH?
Many people forget to take stock of their financial situations during their busy schedules. But you should have an annual financial check up to be sure that you’re making smart money choices and staying on track to meet your short- and long-term financial goals. http://www.moneymattersnj.com/story.cfm?sid=15489

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2. FIVE QUESTIONS TO ASK IN YOUR FINANCIAL TUNE UP
Everyone knows that it’s important to get your oil changed regularly and keep your tires properly inflated, but have you thought about performing maintenance on your finances? http://www.moneymattersnj.com/story.cfm?sid=15488

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3. PODCAST: MUTUAL FUND EXPENSES
Despite a surge of withdrawals during the height of past market uncertainties, mutual funds remain very popular investment options. However, it’s important to understand the costs associated with this type of investment, many of which may not be immediately apparent. http://www.moneymattersnj.com/story.cfm?sid=15498

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4. FINANCING A COLLEGE EDUCATION
It’s easy to postpone saving for college, but getting started now will help ease the sticker shock of tuition when the time comes. http://www.moneymattersnj.com/story.cfm?sid=15490

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5. WHAT TO DO WHEN YOU’RE OUT OF FINANCIAL OPTIONS
While the economy is showing faint signs of life, many people aren’t seeing a recovery in their personal finances. While filing bankruptcy may seem like the only option left, it may not be right for everyone. Know what’s right for you. http://www.moneymattersnj.com/story.cfm?sid=15493

July 2011 Accounting Newsletter

2011-10-15T16:49:00.000-07:00

1. SMART FINANCIAL STEPS FOR UNMARRIED COUPLES
U.S. Census Bureau figures show a recent increase in unmarried couples living together, possibly due in part to job loss or other consequences of an uncertain economy. No matter what brings them together, cohabiting couples have unique financial considerations.
http://www.moneymattersnj.com/story.cfm?sid=15471

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2. PODCAST: TRAVEL INSURANCE
If you’re planning a get-away this summer, you'll want to hear the advice New Jersey Society of CPAs member Douglas Schwartz, CPA, has to offer on travel insurance. http://www.moneymattersnj.com/story.cfm?sid=15478

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3. UNDERSTANDING MUTUAL FUND EXPENSES
Despite a surge of withdrawals during the height of past market uncertainties, mutual funds still remain a popular investment option. If you are selecting a fund, it's important to understand the costs of investing, which may not always be immediately apparent.
http://www.moneymattersnj.com/story.cfm?sid=15469

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4. CHILD OFF TO COLLEGE? A CHECKLIST FOR PACKING MONEY MANAGEMENT SKILLS
Among the books, computer, pens, towels and sheets your college-bound child takes to school, remember to tuck in money-management essentials, too. http://www.moneymattersnj.com/story.cfm?sid=15470

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5. PREPARE FOR HURRICANES, DISASTERS BY SAFEGUARDING TAX RECORDS
The 2011 hurricane season started June 1, and the Internal Revenue Service encourages individuals and businesses to safeguard themselves against natural disasters by taking a few simple steps.
http://www.moneymattersnj.com/story.cfm?sid=15462

June 2011 Accounting Newsletter

2011-10-15T16:48:00.001-07:00

1. FOUR STEPS TO PAYING DOWN YOUR DEBT ONCE AND FOR ALL
The top financial New Year’s resolution for consumers in 2011 is decreasing debt. With the year nearly half over, how many people have kept that pledge? If your resolve is starting to fail, here are some tips for financially getting back on track. http://www.moneymattersnj.com/story.cfm?sid=15458

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2. POMP AND CIRCUMSTANCE AND FINANCIAL PLANNING
While retirement may be the last thing on your mind as you flip that tassel on your mortarboard, it’s one of several things to think about to get started on the right financial foot. A little planning can help you make the most of your education and your financial future. http://www.moneymattersnj.com/story.cfm?sid=15457

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3. WHAT YOU NEED TO KNOW ABOUT MORTGAGE CLOSING COSTS
Closing on a home often involves signing a stack of confusing paperwork. So it’s no wonder that many people get closing-cost sticker shock. Take these steps to ensure that you understand closing costs and can minimize them wherever possible. http://www.moneymattersnj.com/story.cfm?sid=15459

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4. PODCAST: TARGET-DATE RETIREMENT FUNDS
Target-date retirement funds may be convenient and easy to select, but they still warrant careful consideration. New Jersey Society of CPAs member Paula Boyer Kennedy, CPA, discusses the ins and outs of this kind of investment. http://www.moneymattersnj.com/story.cfm?sid=15461

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5. WHAT YOU NEED TO KNOW ABOUT FINANCING A START-UP BUSINESS
It can be challenging to find financing for new businesses, but it’s not impossible. Knowing where to find funding is one key to launching your new business. http://www.moneymattersnj.com/story.cfm?sid=15460

May 2011 Accounting Newsletter

2011-10-15T16:46:00.000-07:00

1. BALANCING ACT: CREATING AND STICKING TO YOUR PERSONAL BUDGET
For the past few years, you’ve scrimped, saved and eaten at home instead of going out. But now, the economy is showing signs of life, and you’re ready to remove the chains of frugality. Can your budget handle it? http://www.moneymattersnj.com/story.cfm?sid=15464

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2. HOW TO BE A STEALTH SAVER
Americans save a little more than five percent of their personal disposable income. It’s not surprising, then, that many people wonder at the end of each month where their money has gone. Don’t despair. There are many easy ways to boost your nest egg with little effort. http://www.moneymattersnj.com/story.cfm?sid=15465

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3. FILING A REAL ESTATE TAX APPEAL
Filing an appeal for a reduction in real estate taxes can be a daunting task if you are not familiar with the processes involved. Here are some tips on navigating the murky waters and taking the first steps. http://www.moneymattersnj.com/story.cfm?sid=15482

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4. UPCOMING FINANCIAL EDUCATION PROGRAM
The New Jersey Society of CPAs is presenting a free webinar, The Investment Roller Coaster Ride - How to Structure Risk-Appropriate Investment Portfolios for Today's Market, on Wednesday, June 22 from 12 to 1pm. http://www.moneymattersnj.com/resources/event.cfm?eventid=96

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5. FINANCIAL CONSIDERATIONS FOR RETIREMENT RELOCATION
Once they stop working and no longer need to live in their current location for professional reasons, many retirees consider pulling up stakes and moving elsewhere. Keep these issues in mind if you’re considering relocating in your retirement. http://www.moneymattersnj.com/story.cfm?sid=15466

April 2011 Accounting Newsletter

2011-10-15T16:43:00.000-07:00

1. UPCOMING FINANCIAL EDUCATION PROGRAMS
Jody Rorick, CPA, will present the free webinar, Talking Financials with Aging Relatives/Friends, on Thursday, April 28 from 1 to 2pm. http://www.moneymattersnj.com/resources/event.cfm?eventid=89
Taking Control: A Financial Workshop for Women will be presented in Roseland on Wednesday, May 4 from 11am to 2pm. http://www.moneymattersnj.com/resources/event.cfm?eventid=90

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2. WHAT TO DO WITH YOUR TAX REFUND
You've finally settled up with Uncle Sam and received a refund. So what should you do with the extra cash? Here are some suggestions. http://www.moneymattersnj.com/story.cfm?sid=13907

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3. NJ GOVERNOR DECLARES APRIL FINANCIAL LITERACY MONTH
The New Jersey Society of CPAs is undertaking a major effort to meet the needs of Garden State residents with information about managing their personal finances more effectively. To help support the initiative, Governor Chris Christie has proclaimed April 2011 as Financial Literacy Month.
http://www.moneymattersnj.com/story.cfm?sid=15412

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4. THE IMPORTANCE OF YEAR-ROUND TAX PLANNING
You did it! You successfully submitted your tax return by this year's deadline. So, there’s no need to think about taxes for another year, right? In fact, there are many smart and easy steps you can take now that will potentially improve your financial situation today and at tax time next year.
http://www.moneymattersnj.com/story.cfm?sid=15402

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5. TAX IMPLICATIONS OF BECOMING A LANDLORD
A new generation of landlords is emerging as investors snap up foreclosure properties at bargain prices and homeowners unable to pay their mortgages rent their homes as an alternative to foreclosure. While becoming a landlord may indeed offer solutions, there are tax implications that individuals may not be aware of. http://www.moneymattersnj.com/story.cfm?SID=15406

March 2011 Accounting Newsletter

2011-10-15T16:41:00.000-07:00

3. CONSIDERING A REFUND ANTICIPATION LOAN?
Tax season is in full swing, and many taxpayers are anxious to get their refunds as soon as possible. Some may even consider accelerating the process with a refund anticipation loan. Hear from a New Jersey Society of CPAs member on why these loans may not be the best option.
http://www.moneymattersnj.com/story.cfm?sid=15349

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4. LAST-MINUTE TAX PREPARATION TIPS
In the final frantic hours before filing your 2010 taxes, don’t lose track of the deductions most taxpayers frequently miss. It could mean more money in your pocket. http://www.moneymattersnj.com/story.cfm?sid=15336

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5. TAX DEDUCTIONS FROM PLANET WEIRD
From January to April each year, CPAs are inundated with attempts to deduct all sorts of things — some legitimate, some not.
http://www.moneymattersnj.com/story.cfm?sid=15335

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6. THE LATEST ON THE AMT
Do you consider yourself "wealthy?" Most people do not. But just because you don't feel like a high earner doesn't mean you are immune to something that was originally created to ensure that the rich and powerful paid their fair share of taxes: the alternative minimum tax (AMT).
http://www.moneymattersnj.com/story.cfm?SID=15334

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7. TAX TIPS FOR LOWERING YOUR EDUCATION COSTS
The tax laws offer a number of opportunities to minimize your out-of-pocket education costs, if you know how to make the most of them. Here are some tips. http://www.moneymattersnj.com/story.cfm?SID=15333

February 2011 Accounting Newsletter

2011-10-15T16:38:00.000-07:00

1. FINANCIAL PLANNING FOR SPECIAL NEEDS FAMILIES
One out of every 26 American families include at least one special needs child, and their financial planning is especially complex. In this month's podcast, Michael Steiner, CPA, CFP, sheds light on the details of a sound financial plan for these families. http://www.moneymattersnj.com/story.cfm?sid=15290

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2. SOCIAL SECURITY REDUCTION PUTS MORE MONEY IN YOUR POCKET AND REPRESENTS A SAVINGS OPPORTUNITY
You may have noticed a few extra dollars in your paycheck lately. While it is always possible your boss gave you a raise for your stellar performance, in reality, you can thank Uncle Sam. What will you do with this extra money in 2011? http://www.moneymattersnj.com/story.cfm?sid=15283

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3. YOU’RE THE BOSS, NOW IT’S TIME TO PAY THE TAX MAN
Entrepreneurship offers many advantages to those who want the freedom to chart their own course, but starting a business also means learning about the many changes on the tax front before you take the plunge and head out on your own. http://www.moneymattersnj.com/story.cfm?SID=15284

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4. WHAT YOU NEED TO KNOW ABOUT ESTATE TAXES
If you are, or will be, involved in estate planning for a loved one or yourself, it's important to know that high estate tax rates are back for this year and beyond. This article deciphers some estate tax complexities. http://www.moneymattersnj.com/story.cfm?SID=15285

January 2011 Accounting Newsletter

2011-01-29T16:28:00.000-08:00

1. TEN FINANCIAL RESOLUTIONS FOR THE NEW YEAR
Each year on January 1, millions of us make resolutions to change our lives in the coming year. Losing a few pounds and quitting smoking are some of the most common New Year's resolutions. This year, how about making a pledge to improve your finances?
http://www.moneymattersnj.com/story.cfm?SID=15228

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2. TAX TIME QUESTIONS FOR YOUR CPA
Last year, individuals who qualified for tax refunds got an average of $2,887, up 8 percent from the previous year. While there's no guarantee that you will receive a refund, there are steps you can take now that could not only potentially lower your tax bill, but also enhance your overall financial situation. http://www.moneymattersnj.com/story.cfm?sid=15229

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3. HOW TO SELECT A PROFESSIONAL TAX PREPARER
According to the Internal Revenue Service, 60 percent of Americans use the advice of a tax preparer or tax software when filing their taxes. If you decide to pay someone to help you prepare your tax return, it is important to choose that preparer carefully.
http://www.moneymattersnj.com/story.cfm?SID=15230

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4. TEN TIMELESS RULES OF INVESTING
There are tried-and-true investing rules, regardless of the market’s volatility. Here are ten that can help you experience long-term growth that will result in many happy returns.
http://www.moneymattersnj.com/story.cfm?SID=15105

December 2010 Accounting Newsletter

2011-01-29T16:27:00.001-08:00

1. ANNUAL FINANCIAL EDUCATION CONFERENCE COMING IN JANUARY
The annual "Do It Herself: A Journey to Financial Freedom" conference for women is being held on Saturday, January 29, at Caldwell College. Conference topics include Investing, Organizing Financial Records, Estate Planning, Budgeting, Smart Debt Management and more.
http://www.moneymattersnj.com/resources/event.cfm?eventid=81

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2. SMART WAYS TO SAVE MONEY DURING THE HOLIDAYS
The holidays are a joyous – and potentially expensive – time of year. However, gift giving doesn’t have to empty your wallet if you follow these simple tips. http://www.moneymattersnj.com/story.cfm?sid=15155

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3. SOCIAL SECURITY AND THE COST-OF-LIVING ADJUSTMENT
In October, the Social Security Administration announced that there will be no cost-of-living adjustment for Social Security beneficiaries in 2011. What can distressed retirees do to maximize or compensate for stagnant Social Security checks? A New Jersey CPA shares his insights in the latest NJSCPA financial literacy podcast.
http://www.moneymattersnj.com/story.cfm?SID=15161

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4. TRIM YOUR TAXES BEFORE YOU DECK THE HALLS
April 15 seems so far away when you're pulling the holiday decorations out of storage. But doing some quick planning now could potentially lower your tax bill and give you something to be extra thankful for next spring. http://www.moneymattersnj.com/story.cfm?SID=15154

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5. REMINDER: 2011 FINANCIAL FITNESS CALENDAR NOW AVAILABLE
The New Jersey Society of CPAs is offering its 2011 Financial Fitness Calendar. This FREE calendar is an easy-to-follow resource guide, complete with handy tips and tools for improving your financial health. Request your free copy today! http://www.moneymattersnj.com/resources/calendar.cfm

November 2010 Accounting Newsletter

2011-01-29T16:26:00.000-08:00

1. 2011 FINANCIAL FITNESS CALENDAR NOW AVAILABLE
The New Jersey Society of CPAs will be releasing its 2011 Financial Fitness Calendar later this month. This FREE calendar is an easy-to-follow resource guide, complete with handy tips and tools for improving your financial health. Request your free copy today!
http://www.moneymattersnj.com/resources/calendar.cfm

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2. TIPS FOR CUTTING COMMUTING COSTS
Commuting can be an expensive proposition. Follow these tips to minimize the cost of getting to and from work.
http://www.moneymattersnj.com/story.cfm?SID=15084

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3. CONVERTING TO A ROTH IRA: IS IT RIGHT FOR YOU?
Roth IRA conversions have been a hot topic this year. New rules have made 2010 the first year that there is no income limit for Roth IRA conversion eligibility. As such, many taxpayers have access to a Roth for the first time. How do you know if converting your traditional IRA to a Roth IRA is right for you? http://www.moneymattersnj.com/story.cfm?sid=15087

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4. CHOOSING BETWEEN AN FSA AND AN HSA
Health care expenses take a big bite out of many family budgets. There are tax-advantaged options to help pay for medical or prescription costs, so it’s important to understand your options for lowering those costs. http://www.moneymattersnj.com/story.cfm?sid=15085

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5. LOWERING YOUR TAX BILL WITH HOME OFFICE DEDUCTIONS
The country’s economic downturn has created a new legion of entrepreneurs who are working from home after losing a job. Many will consider using their home office as a tax deduction for the first time, but caution is essential. http://www.moneymattersnj.com/story.cfm?sid=15086

October 2010 Accounting Newsletter

2011-01-29T16:24:00.000-08:00

1. BATTLING BANK FEES
What are the most common bank fees assessed to customers and can they be avoided? This month’s podcast features a wealth of personal banking advice.
http://www.moneymattersnj.com/story.cfm?SID=15042

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2. FIVE SIGNS YOUR DEBT IS OUT OF CONTROL
Everyone runs up a little credit card debt, right? That's what many people tell themselves to justify carrying heavy loan amounts, but the fact is that undisciplined spending and poor credit management are serious problems that must be addressed. Here are five signs that show your debt and spending are out of control. http://www.moneymattersnj.com/story.cfm?sid=15047

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3. WHAT CONSUMERS CAN EXPECT FROM FINANCIAL REFORM
In July, President Obama ratified a new financial regulatory reform bill that will have an impact everywhere from Wall Street to Main Street. While many of the law's provisions will not take effect immediately, consumers should be prepared for changes in the credit arena and elsewhere. Here's some perspective on what you can expect.
http://www.moneymattersnj.com/story.cfm?sid=15046

September 2010 Accounting Newsletter

2011-01-29T16:14:00.000-08:00

1. MAKING WISE CHARITABLE CONTRIBUTIONS
Whether you are considering making a donation to the Pakistan flood relief effort or any other charity, you need to know which charitable organizations are most worthy of your donation - and whether they are legitimate. Listen as a CPA discusses charitable giving, from organizational research to tax implications, in the latest Financially Fit podcast.
http://www.moneymattersnj.com/story.cfm?SID=14962

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2. DON’T LEAVE HOME WITHOUT A CONTINGENCY PLAN
A natural disaster or a family crisis could happen at any time. September is National Preparedness Month; take this opportunity to create an emergency file, or a contingency plan, to lessen the anxiety of a crisis.
http://www.moneymattersnj.com/story.cfm?sid=14996

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3. FIVE TAX TIPS FOR RECENTLY MARRIED TAXPAYERS
If you recently got married or are planning a wedding, taxes are probably the last thing on your mind. However, there are some important steps you need to take to avoid stress at tax time.
http://www.moneymattersnj.com/story.cfm?sid=14956

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4. ANNUITIES AS AN INVESTMENT OPTION
Financial products have the potential to be downright confusing, even to the most well-informed investor. This podcast sheds light on annuities as a viable investment option.
http://www.moneymattersnj.com/story.cfm?sid=14975

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5. TOP DEDUCTIONS FOR SMALL BUSINESSES
Running your own business can be an exhilarating and challenging experience. Among the many challenges (and opportunities) you face will be figuring out which deductions you qualify for when tax time comes around. Here are some tips on dealing with deductions.
http://www.moneymattersnj.com/story.cfm?sid=14982

August 2010 Accounting Newsletter

2011-01-29T16:12:00.000-08:00

1. CONVERTING TO A ROTH IRA
2010 is a pivotal year for Roth IRA conversions - but is it right for you? This podcast offers advice on conversion eligibility and answers to commonly asked questions about this hot topic.
http://www.moneymattersnj.com/story.cfm?SID=14908

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2. GET HEALTHY, SAVE MONEY!
There are obviously many good reasons to maintain good health, but did you know there are some great financial reasons to do so, as well? http://www.moneymattersnj.com/story.cfm?sid=14938

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3. PROCRASTINATION AND YOUR FINANCES
Given the current economic environment, many consumers approach finances with a sense of foreboding. Because procrastination can actually cost money, here are a few tips on how to keep from procrastinating on financial issues. http://www.moneymattersnj.com/story.cfm?sid=14931

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4. WHY YOU NEED A HOME INVENTORY
Would you be able to list all the contents of your home if you had to? Most people could not. A home inventory can help you determine what needs to be replaced - and facilitate the insurance process - if you are the victim of a burglary, fire or other disaster.
http://www.moneymattersnj.com/story.cfm?sid=14939

July 2010 Accounting Newsletter

2011-01-29T16:03:00.000-08:00

1. SECRETS TO A MORE AFFORDABLE VACATION
Have you made reservations for your summer vacation or, like many, are you postponing it until 2011? Here are some ideas to help you lower the cost of a vacation to fit your budget and still get priceless memories your family can share for years to come.
http://www.moneymattersnj.com/story.cfm?SID=14872

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2. BUY VERSUS RENT: WHAT’S RIGHT FOR YOU?
Common wisdom holds that in the long-term, it's always better to buy a home than to rent. However, given the changes in how people work and live over the last 20 years, buying is not necessarily better than renting. A New Jersey CPA shares his insights in the latest NJSCPA financial literacy podcast.
http://www.moneymattersnj.com/story.cfm?sid=14880

=============================================

3. SMART WAYS TO USE YOUR TAX REFUND
If you were fortunate enough to get a tax refund this year, here's advice on some of the best ways to use it.
http://www.moneymattersnj.com/story.cfm?sid=14878

=============================================

4. NEW CREDIT CARD RULES AND WHAT THEY MEAN TO YOU
Did you know there are new rules governing the fees and penalties that credit card companies can charge you? Find out why the changes are important, and learn some tips for managing credit cards.
http://www.moneymattersnj.com/story.cfm?sid=14877

=============================================

5. SEVEN WAYS TO SAVE MONEY ON GROCERIES
Although it may not seem like it, food costs are still one of the most flexible areas in many families' budgets. While you may have little control over your mortgage or day care costs, you can probably save money on groceries. Start saving with these tips.
http://www.bankrate.com/finance/personal-finance/7-ways-to-save-money-on-groceries-1.aspx

May 2010 Accounting Newsletter

2011-01-29T15:55:00.000-08:00

1. FIVE SMART MOVES FOR HOME IMPROVEMENT
Thinking about giving your home a much-needed facelift? You’re not alone. But which home improvements deliver the best return on your investment (ROI)? Here are the five smartest home improvements you can make based on ROI.
http://www.moneymattersnj.com/story.cfm?SID=14746

=============================================

2. GETTING A TAX REFUND? IT'S A GOOD TIME TO TUNE UP YOUR FINANCES
If you’re receiving a tax refund this year, think carefully before spending it. Now’s a good time to review your entire financial situation and make adjustments to keep you on track for the rest of the year.
http://www.moneymattersnj.com/story.cfm?sid=14779

=============================================

3. TEACH YOUR KIDS HOW TO SAVE AND STAY ON TOP OF THEIR MONEY
Nearly three quarters of young Americans are ill-equipped to make sound financial decisions. Investing time to teach your kids some basic financial rules like these can help them realize a more secure future.
http://www.moneymattersnj.com/story.cfm?sid=14747

=============================================

4. CLUTTERED CLOSETS MAY HARBOR TAX DEDUCTIONS
Spring is a perfect time to clean out your closets and garage. If you give your gently used clothing and household items to charitable organizations, make sure you don’t discard valuable tax deductions with your donation.
http://www.moneymattersnj.com/story.cfm?sid=14778

March 2010 Accounting Newsletter

2010-03-29T17:32:00.000-07:00

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

=============================================

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

=============================================

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

=============================================

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

=============================================

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

2010-03-29T17:30:00.001-07:00

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

=============================================

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

=============================================

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

=============================================

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/

January 2010 Account Newsletter

2010-01-29T23:07:00.000-08:00

1. FINANCIAL RESOLUTIONS FOR THE NEW YEAR
Many people make a list of resolutions at the beginning of
each new year, such as losing weight or learning a new
skill. As you make your list, consider including wise
financial goals for 2010 and beyond.
http://www.moneymattersnj.com/story.cfm?SID=14488

==========================================

2. LEANING MONEY TO FAMILY AND FRIENDS
Shakespeare wrote that loaning money to a friend is a good
way to lose both friend and money. So what do you do when a
friend or relative hits you up for a cash infusion? Tread
carefully and listen to these tips.
http://www.moneymattersnj.com/story.cfm?SID=14496

==========================================

3. TO BORROW OR NOT TO BORROW
People use debt to finance any number of purchases, and
borrowing money for a worthwhile purchase is not always a
bad idea. However, some buys are worth financing over time
and others are not.
http://www.moneymattersnj.com/story.cfm?SID=14490

==========================================

4. BANKING ONLINE SAFELY
Many people enjoy the convenience of Internet banking, but
some consumers worry about the safety of their online
transactions. Here are some questions to ask to ensure that
your online bank dealings are secure.
http://www.moneymattersnj.com/story.cfm?SID=14489

==========================================

5. AVOIDING OVERDRAFT AND BOUNCED CHECK FEES
Have you ever received a hefty charge for accidentally
withdrawing more money than is in your checking account?
These fees can be quite high, so make sure you understand
how they work and how to avoid them.
http://www.moneymattersnj.com/story.cfm?SID=14491

==========================================

December 2009 Accounting Newsletter

2009-12-17T03:06:00.000-08:00

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

=============================================

November 2009 Accounting Newsletter

2009-11-24T20:09:00.000-08:00

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

October 2009 Accounting Newsletter

2009-10-12T18:45:00.000-07:00

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/

Thinking about Roth IRA Conversions???

2009-09-09T21:02:00.000-07:00

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.

September 2009 Accounting Newsletter

2009-09-09T20:56:00.000-07:00

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/

============================================

August 2009 Accounting Newsletter

2009-08-28T23:05:00.000-07:00

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

==========================================

July 2009 Accounting Newsletter

2009-07-13T22:04:00.000-07:00

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

June 2009 Accounting Newsletter

2009-06-24T01:44:00.000-07:00

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

May 2009 Accounting Newsletter

2009-05-25T21:57:00.000-07:00

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

April 2009 Accounting Newsletter

2009-04-12T21:56:00.000-07:00

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

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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

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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

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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

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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

2009-04-12T21:51:00.001-07:00

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

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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

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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

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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

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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

February 2009 Accounting Newsletter

2009-02-17T18:45:00.000-08:00

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

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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

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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

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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

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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/

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January 2009 Accounting Newsletter

2009-01-27T21:28:00.000-08:00

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

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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

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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

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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

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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

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6. ADDITIONAL HEADLINES

* Seven Ways to Save in 2009
* Retirement Resolutions for the New Year
* Five Ways to Boost a Financial Aid Package
=================================================

December 2008 Accounting Newsletter

2008-12-11T17:36:00.001-08:00

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

============================================================

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

============================================================

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

============================================================

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

============================================================

November 2008 Accounting Newsletter

2008-11-16T20:52:00.003-08:00

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

============================================================

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

============================================================

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

============================================================

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

============================================================

October 2008 Accounting Newsletter

2008-11-16T20:52:00.001-08:00

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

============================================================

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

============================================================

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

============================================================

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

============================================================

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

============================================================

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

============================================================

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

============================================================

September 2008 Accounting Newsletter

2008-11-16T20:51:00.003-08:00

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

============================================================

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

============================================================

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

============================================================

August 2008 Accounting Newsletter

2008-11-16T20:51:00.001-08:00

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

============================================================

July 2008 Accounting Newsletter

2008-11-16T20:49:00.000-08:00

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

============================================================

June 2008 Accounting Newsletter

2008-11-16T20:48:00.000-08:00

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

2008-11-16T01:22:00.001-08:00

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

2008-11-16T01:21:00.001-08:00

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

============================================================

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

============================================================

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

2008-11-16T00:57:00.001-08:00

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

2008-11-16T00:54:00.001-08:00

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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