Money-Wise Holiday Gifts
When buying presents at this time of year, people often spend a lot of money without being sure they’ve really
found the right gift. While it’s the thought that counts, it’s also great to be able to give a present that’s truly
appreciated by the recipient.
December 24th
What You Need to Know About Long-Term Care Insurance
The average cost of a private room in a nursing home is about $200 a day, or roughly $75,000 a year, according
to a survey by the MetLife Mature Market Institute. And by 2020, 12 million older Americans will need long-term
care, including nursing home stays, according to the U.S. Department of Health and Human Services.
December 17th
Don’t Let Identity Theft Happen to You
Becoming a victim of identity theft is more likely than you might expect. Identity theft occurs when someone uses
your identification – such as your Social Security number or credit card number – without authorization to commit
a crime.
December 10th
An Emergency Fund Means Peace of Mind
Cars break down; serious medical problems arise; you can lose your job. Because we don’t know what each day has
in store for us, you need to have money set aside for emergencies.
December 3rdNovember
Buying gifts for loved ones and traveling to see family can be expensive. According to the New Jersey Society of
Certified Public Accountants (NJSCPA) there are many simple spending habits that can help you conserve cash and
cut down on overspending during the holiday season. This way, you won’t have to use credit cards for your holiday
purchases and amass expensive interest charges.
November 26th
Americans gather together this month to consider the many things for which they’re thankful. As we take stock,
it’s a good time of year to assess your company policies and procedures to be sure you’re offering programs that
will make employees grateful to be working for you, according to the New Jersey Society of Certified Public Accountants
(NJSCPA). A 2006 survey by the Society for Human Resource Management found more than three-quarters of American
workers were looking for new jobs. In this competitive hiring environment, it’s a good idea to reward your talented
staff members for their dedication.
November 19th
On Veteran’s Day, we remember the heroic efforts and sacrifices made by members of our nation’s military. Those
who have served in the armed forces should feel tremendous pride in their heroism. The New Jersey Society of Certified
Public Accountants (NJSCPA) believes it is important that they know about the special tax relief benefits available
from the U.S. government.
November 12th
Don’t Allow a Theft, Fraud or a Con Ruin Your Holidays
Take a Few Simple Precautions and Be Alert
Anyone who is affected by a property crime loses much more than money or the cost of replacing stolen items. The
victim loses the time needed to deal with the loss, and even worse, is robbed of good feelings that are replaced
by anger and frustration. With identity theft recognized as the fastest growing type of crime in the nation, and
petty theft and fraud still prevalent, it makes sense to take a few precautions now, before the holiday shopping
season. November 5th
OCTOBER
Five Steps to Prevent Fraud in Your Business
Every year, businesses all over the country lose billions of dollars to employee fraud. And, while the big companies
make the headlines, small- and medium-size businesses are equally – and sometimes more – at risk, primarily due
to lack of awareness or a false sense of security.
October 29th
Give Your Business an IT Checkup
You don’t need to be a technology whiz to be successful in business – but you should have a plan in place for making
the most of your company’s data. According to the New Jersey Society of Certified Public Accountants (NJSCPA),
the end of the year is an excellent time to carefully examine your company’s technology to determine what’s working
well and what could be improved. Start by asking yourself the following questions:
October 22nd
Donating Property Can Provide Tax Relief
Cash isn’t the only way you can help your favorite charity. Many organizations accept gifts of used clothing, household
items, cars, as well as stocks, mutual funds, collectibles and artwork.
October 15th
Financial Planning for Single Parents
Managing a family and a household while holding down a job is enough to keep any single parent busy. When you are
taking your children to day care, driving them to other activities and helping with homework, it’s difficult to
think about financial planning.
October 8th
Seven Ways to Take Control of Your 2007 Tax Bill
There’s no time like the present when it comes to cutting your 2007 tax bill, says the New Jersey Society of
Certified Public Accountants (NJSCPA). Here are some tax strategies you can implement now to reduce your 2007 tax
bill:
October 1st
SEPTEMBER
Keeping Homeowners Insurance Current Isn't a Job Just for Home Owners
Renters and Students Are Vulnerable, Too
For most people, a home and its contents are their most valuable assets. To protect them, it’s important to be
sure you have sufficient homeowners insurance.
September 24th
Last-Minute College Financing Ideas
College education costs continue to spiral upward. In the 2006/07 academic year, total college costs, including
tuition, fees, room and board, averaged $12,796 at four-year public colleges and $30,367 at four-year private colleges,
according to the College Board.
September 10th
Five Ways to Earn Employee Loyalty
More than 60 percent of employees surveyed said they plan to look for a new job in the next three months, according
to a salary.com poll.
September 3rd
AUGUST
Practical Advice to Help You Jump Start a Start-Up Business
Starting a new business involves risk. Statistics on the rate of failure of new start-ups vary widely. Some sources
say only 10 percent of start-ups succeed while other credible sources put the success rate at 60 to 70 percent.
August 27th
Cash Flow Tips to Keep Your Business in the Black
Even a perfectly healthy company may face financial problems if it doesn’t have enough cash in the bank when
the bills are due. According to the New Jersey Society of Certified Public Accountants (NJSCPA), there are several
steps that business owners can take to ensure reliable cash flow:
August 20th
How to Deal with Bad Business Debts
Companies thrive by building trusted business relationships with their customers. Sometimes, however, small business
owners find that customers fall behind in payments for goods or services they’ve already received.
August 13th
What You Need to Do Before You Sell Your Business
Before you cash-in on the successful company you’ve built and retire to a tropical paradise, take time to adequately
prepare for this important goal.
August 6th
JULY
How Much Do You Need to Retire?
Determining how much money you need for retirement is a highly personal and complex decision. It depends on a number
of factors, including the retirement lifestyle you desire, your target retirement age and your life expectancy,
reports the New Jersey Society of Certified Public Accountants (NJSCPA).
July 30th
Insuring Your Home-Based Business
Depending on who is doing the counting, there are anywhere from 10 million to 25 million home-based businesses
in the U.S. But there is little disagreement that too few home-based business owners have insurance — and all of
them should.
July 23rd
Understanding the Home Office Deduction Can Lower Your Tax Bill
One of the many benefits of working from home is the home office deduction. Home-based workers who qualify can
deduct a portion of their expenses related to operating an office in their home.
July 16th
Savings Strategies for Any Life Stage
Some habits are good – like saving money. While most people would admit that saving money is critical to their
financial well-being, many people lack the discipline or know-how to sock away the money they need.
July 9th
Eight Retirement Savings Mistakes to Avoid
Retirement planning requires a sound judgment and attention to detail. A little luck with investments will also
help. And you want to stay away from a few well-known pitfalls.
July 2nd
JUNE
When You Need Emergency Money
It
happens to the best of us. When you least expect it, you lose your job,
the car’s transmission fails or your dog requires surgery. Ideally,
you’ll have an emergency fund set aside for unexpected disasters like
these. But if you don’t and you need to raise money quickly, according
to the New Jersey Society of Certified Public Accountants (NJSCPA),
there are two main avenues to pursue.
June 25th
The Pros and Cons of 529 College Savings Plans
According to The College Board, total annual charges for tuition, fees, and room and board for full-time college
students have topped $12,700 at the average four-year public university and $30,300 at the average four-year private
college. With numbers like that, it’s easy to see why it’s so important to start saving while your children are
young.
June 18th
Paying for a Child’s College Education When You Failed to Save Enough
School may be coming to a close in the coming weeks, but parents of school-age children should begin planning
now to meet the rising costs of a college education. This is especially critical for parents whose children will
be attending college in a year or two.
June 11th
Get a Bigger Return on Your Tax Return with a Mid-Year Financial Checkup
Personal Financial Management is a Year-Round Job
Did you have any unpleasant surprises when you filed your tax return this year? Do you have any important financial
goals for the future?
June 4th
May
Six Financial Planning Tips for Seniors
Rising health care costs, reductions in retirement benefits, shrinking savings accounts and longer life expectancies
are just a few of the challenges America’s senior citizens face today. There might not be any easy answers, but
there’s one essential first step that every older person should take.
May 28th
What Working Retirees Need to Know About Taxes
It’s becoming a well-established trend: more and more retirees are
working and, according to the media, many soon-to-retire Baby Boomers
plan to do the same. Working during retirement can bring financial,
physical and psychological benefits, say experts.
May 21st
How the 2006 Pension Protection Act Can Affect Your Retirement Savings
On August 17, 2006, President Bush signed the Pension Protection Act of 2006, the country’s most sweeping reform
of pension laws in 30 years. Many of the Act’s provisions are aimed at strengthening defined benefit retirement
plans by imposing stricter funding and disclosure rules and increasing the level of premiums companies pay to the
Pension Benefit Guaranty Corporation, which insures pension plans.
May 14th
When Should You Start Collecting Social Security?
Should you take your Social Security benefits early or wait until your full retirement age – or maybe even later?
It’s a question that most retirees face and, unfortunately, there is no one right answer, says the New Jersey Society
of Certified Public Accountants (NJSCPA). The following provides an overview of Social Security payment options
and several factors to consider in making your decision:
May 7th
APRIL
The Nanny Tax Applies to More than Just Nannies
You
may have heard about the ”nanny tax.” Most people believe that it tax
applies only to those individuals employed by families to care for
their children. Not so, says the New Jersey Society of Certified Public
Accountants (NJSCPA). The nanny tax refers to the federal employment
taxes – Social Security and Medicare – and federal unemployment tax
that employers of all types of household workers must pay if the
employee’s wages exceed a threshold amount ($1,500 for 2007).
April 29th
Are Your 2007 Estimated Taxes on Track?
Most – but not all – taxpayers need to settle up with Uncle Sam by April 17 this year. Those who are required
to pay estimated taxes aren’t quite as lucky. Payments are required four times annually, and the first payment
for the 2007 tax year is also due April 17.
April 22nd
Don't Overlook Investment and Tax-Related Deductions
If you’re getting ready to file your 2006 tax return, be sure you’re taking advantage of all the deductions
to which you are entitled. According to the New Jersey Society of Certified Public Accountants (NJSCPA), two categories
of deductible expenses that often get overlooked are investment and tax-related expenses.
April 15th
Pension Protection Act Includes New Charitable Giving Rules
Don’t be fooled by its name. The Pension Protection Act of 2006, signed into law last August, includes a number
of tax law changes that have nothing to do with pensions. Tucked into the pension act are several provisions related
to charitable giving you should know about.
April 9th
Experts’ View on What to Do With an Income Tax Refund
Advice That Can Apply to Any ‘Bonus’ Cash You ReceiveTax returns produce a welcome benefit for many taxpayers:
a tax refund check. If you want to maximize the benefit of your tax refund, here are some suggestions from financial
planning experts at the New Jersey Society of Certified Public Accountants (NJSCPA).
April 2nd
MARCH
Know Your Tax Deductions and Your Taxpayer Rights
When you overlook tax deductions, you overlook tax-saving opportunities. But what happens if you discover a
deduction that you missed last year or the year before?
March 26th
CPAs Point Out Convenience of Electronic Tax Payment Options
The New Jersey Society of Certified Public Accountants (NJSCPA) points out that there are now three convenient
and secure ways to settle your tax liability without writing a check. Here is an explanation of how you can take
advantage of each of these alternatives:
March 19th
Employee Business Expenses
Do you have work-related expenses that are not reimbursed by your employer? Would you like to get a tax break
for those expenses? If you answered “yes” to these questions, read what the New Jersey Society of Certified Public
Accountants (NJSCPA) has to say about employee business expenses:
March 12th
Kiddie Tax Changes and Other Child-Related Tax Questions
Watch out. You may be paying more taxes this year if you have a teenager with unearned income or fail to claim
exemptions and tax deductions that you deserve.
March 5th
FEBRUARY
To Itemize or Not to Itemize? Homeowners May Want to Look at Their Options
Being a homeowner can make your tax preparation a little more challenging, but you might save some money for
your effort. Should you choose simplicity and take the standard deduction – a flat amount established by the IRS?
Or should you itemize, claiming your actual qualified deductions?
February 25th
Tips and Taxes: What You Need to Know
What do waiters and waitresses, taxi and limo drivers, hairdressers and spa workers have in common? They are
all service industry workers who derive a significant portion of their income from tips.
February 19th
Tax Check: Is Your Filing Status Accurate?
Choosing the right filing status is important. Not only does it determine the tax rate that applies to your
taxable income, reports the New Jersey Society of Certified Public Accountants (NJSCPA), but also the amount of
standard deduction you’re eligible for and the types of deductions and credits you can take. CPAs offer an explanation
of the five filing status options to help you select the right one for your circumstances:
February 12th
Health Savings Accounts: What You Need to Know
Health
care consumers may realize significant financial benefits from Health
Savings Accounts (HSAs). Created under the 2003 Medicare Act, an HSA is
a tax-favored savings plan offered by many banks, insurance companies,
brokerages and other financial institutions that can be used to pay for
qualified medical expenses.
February 5th
JANUARY
Now is the Time to Get Seriousabout Saving for Retirement
Character Flaws Could Be a Motivational Blessing
Fear and selfishness aren’t character traits we try to cultivate. But when it comes to getting motivated to save
for retirement, they may be exactly what we need.
January 29th
Long-Term Care Insurance: What to Ask Before You Buy
Planning for your future care or that of a loved one has emotional and financial implications. According to
the New Jersey Society of Certified Public Accountants (NJSCPA), there are a number of important questions you
should ask before selecting a long-term care policy. Here are some of them:
January 22nd
Life Insurance Facts
All life insurance policies have one thing in common: they provide a tax-free death benefit to your beneficiary
when you die. But that’s where the similarities stop. The New Jersey Society of Certified Public Accountants (NJSCPA)
offers an overview of the most common types of life insurance to assist you in determining which best meets your
needs:
January 15th
Disability Insurance: How to Tailor the Policy to Your Needs
What would happen if your paycheck suddenly stopped because you were ill or injured and couldn’t work? Could
you still pay your mortgage or rent and monthly bills? You could if you had long-term disability insurance, reports
the New Jersey Society of Certified Public Accountants (NJSCPA).
January 8th
Ring in the New Year with These Financial Resolutions
It's the time of year for popping champagne corks, tossing confetti and making New Year’s resolutions. And
many of those resolutions are likely to focus on better financial management. The New Jersey Society of Certified
Public Accountants (NJSCPA) offers the following suggestions to help you get your money matters in order:
January 1st
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