Thinking about making a year-end charitable contribution? If so, keep in mind that tax-deductible donations are not limited to cash. According to the New Jersey Society of Certified Public Accountants (NJSCPA), many organizations accept gifts of used cars, computers, clothes, art and other types of tangible property. In return, taxpayers who itemize may qualify for a valuable tax deduction.

If you're looking for a gift that gives the term "holiday returns" a new meaning, consider some non-traditional gift options. Here are some gift ideas, courtesy of the New Jersey Society of Certified Public Accountants (NJSCPA), that are likely to provide a return on your investment as well as a lesson in personal finance.

Preparing a will is the best way to be certain your property is distributed according to your wishes. What many people don't realize is that keeping your will up to date is as important as having a will. That is why the New Jersey Society of Certified Public Accountants (NJSCPA) recommends that you review your will periodically, especially when changes to personal circumstances, your financial situation, or to the tax laws occur. Here are some situations that should trigger an immediate will review:

Want to know how the mutual funds in your investment portfolio are faring? Thinking about purchasing some stock for your child's college fund? Consult any major daily newspaper and you'll find a wealth of information on the stocks, bonds, and mutual funds that are traded on American stock exchanges. Although the listings may look confusing at first, this primer from the New Jersey Society of Certified Public Accountants (NJSCPA) will help you understand what all those numbers mean.

Facing a stack of bills you can't pay? Tired of getting calls from irate creditors? Need help sticking to a budget? Serious about getting your spending under control? If you answered "yes" to any of these questions, the New Jersey Society of Certified Public Accountants (NJSCPA) recommends that you contact a non-profit credit counseling service, such as the National Foundation for Consumer Credit (NFCC).

Summer jobs give teens new found freedom and money to spend. Just how well your teen handles his or her first paycheck may set a precedent for life. Here's some advice from the New Jersey Society of Certified Public Accountants (NJSCPA) that may help your teen make the most of his or her summer salary and develop a solid basis for future financial success.

Parents and grandparents wanting to make a substantial gift to a child should consider establishing a trust, recommends the New Jersey Society of Certified Public Accountants (NJSCPA). Trusts offer tax advantages and flexibility. For example, you can set up each trust to achieve a specific purpose and specify when the children actually gain access to the funds. Thus, you can be generous without giving up control.

It used to be that owning a home was the American dream. These days, more and more homeowners are using the equity in their homes to pay for even bigger dreams, like down payments on vacation homes and college tuition. Despite the popularity of home equity loans and credit lines, the New Jersey Society of Certified Public Accountants (NJSCPA) cautions homeowners to understand how these lending options work before they turn their homes into checkbooks.

When it comes to life insurance, there are plenty of common misconceptions that can result in inadequate coverage and unnecessary financial hardship for families who suffer the loss of a loved one. The New Jersey Society of Certified Public Accountants (NJSCPA) dispels some of these myths and offers advice on the best way to protect your family.

When it comes to income tax deductions, you should certainly claim those you deserve. But also keep in mind that too many deductions, as well as other problems like math errors, can attract the attention of IRS auditors. To be prepared to address IRS inquiries, the New Jersey Society of Certified Public Accountants (NJSCPA) provides a look at some 'red flags' that may cause the IRS to take a second look at your tax return.

Would you like help paying for child care? The child and dependent care tax credit benefits families who, in order to work or look for work, pay someone to care for a dependent child under age 13. The credit also covers care of a spouse or a dependent of any age who is physically or mentally incapable of self-care.

Are you taking advantage of all the dependency exemptions you’re entitled to? If you have children living at home, it’s easy to identify your dependents. However, when an extended family lives together under one roof, or a family supports someone living elsewhere, identifying dependents gets more complicated. According to the New Jersey Society of Certified Public Accountants (NJSCPA), here’s what you need to know about making the most of your dependency exemptions this tax season.

Attending college or taking courses not only makes you smarter, it may also save you valuable tax dollars. Two tax credits – the Hope Scholarship Credit and the Lifetime Learning Credit - are available to many middle-income taxpayers. According to the New Jersey Society of Certified Public Accountants (NJSCPA), these credits reduce your tax bill dollar for dollar, making them more valuable than deductions, which reduce the amount of income on which you are taxed. Basically, a $1,000 tax credit saves you $1,000 in taxes.

For the smart consumer, tax planning is a year-round event, and there is no better time than now to start work on your 2003 tax strategy, advises the New Jersey Society for Certified Public Accountants (NJSCPA). Advanced planning helps to ensure that you take maximum advantage of opportunities to reduce your taxes, particularly those strategies that may take a few months to implement.

There is no better time than Women’s Financial Health Week, held January 13-17, to remind women of their tax rights. While tax issues are important to both men and women, Women’s Financial Health Week is dedicated to educating women about planning for financial situations. According to the New Jersey Society of Certified Public Accountants (NJSCPA), one of the most serious tax mistakes any spouse can make is to sign a joint return without carefully reviewing and thoroughly understanding every item.