Looking for something specific? Enter one or more keywords and search our entire site.	900 N. Kings Highway, Cherry Hill, New Jersey 08034 856.667.4100 · 215.563.0276 · Fax: 856.667.3652 The Online Advisor Online Advisor Archive - 2003 Archives View past Online Advisors: 2006 2005 ·2004 2003 · 2002 2001 · 2000 1999 · 1998   Other Tips Tax Tips Business Tips Financial Planning Tips Money Management Search Looking for something specific? Enter one or more keywords and search our entire site. December Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes Tax numbers released for 2004 This is the time of year when the IRS and other government agencies begin releasing inflation-adjusted tax numbers that will become effective in 2004 Getting older brings new tax concerns As retirement nears, the tax issues you face begin to change. You'll be eligible for new tax breaks, but you will also have to make new tax decisions. New Business Mileage rates up for 2004 According to the IRS, the standard mileage rate for business driving will increase from the 2003 rate of 36 cents a mile to 37.5 cents a mile in 2004. Smart Business Take advantage of new rules for equipment purchases Now is the time to plan your acquisitions of equipment, vehicles, and leasehold improvements. Due to the most recent tax law change, the allowable tax breaks have never been better. What's New in Financial Strategies Don't fall victim to "quick fix" promises The IRS, the Federal Trade Commission, and state regulators are warning consumers about credit counseling organizations that are preying on individuals struggling to get their debt under control. Consider money and time in making financial decisions When making financial decisions, do you consider the time value of money? If you have a basic understanding of time-value concepts, you'll be able to make better choices in many business and personal financial situations. November Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes IRS gives relief to disaster victims The IRS recently announced special tax relief for certain taxpayers affected by Hurricane Isabel or the California wildfires. If you had losses due to Hurricane Isabel, the California fires, or some other natural disaster this year, be aware that there are several provisions in the tax law that may provide relief. Act now if you want to lower your 2003 tax bill There is very little time left to take steps to reduce your tax bill for 2003. Consider these suggestions: New Business SUV tax break may be cut Business owners got a big break in the 2003 tax law — an increase in the amount that can be expensed in the first year a piece of business equipment is purchased. For 2003 through 2005, the annual expensing allowance is $100,000. That includes purchases of business vehicles that weigh 6,000 pounds or more. Smart Business Business or hobby? What a tax difference a word makes The tax law requires you to pay tax on all income that you earn. This includes business income and hobby income. What's New in Financial Strategies What's worse than identity theft? It's hard to imagine a scam that's worse than identity theft. Victims of identity theft have their personal information stolen and used by con artists to run up debt on their credit cards, write bad checks on their bank account, and in general wreak havoc in their financial lives. How to be smart when you inherit money If you're fortunate enough to receive an inheritance, you have some important decisions to make. Here are seven tips for acting wisely. October Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes The IRS makes health care less costly for some If you have a flexible spending account (FSA) to pay for medical expenses with pre-tax dollars, the IRS has good news for you. Pay attention to taxes before lending money to relatives You have the money, and someone in your family needs assistance. It feels great to help, but be careful or your loan could create tax problems for you. The IRS pays special attention to loans between family members. New Business IRS extends depreciation deadline to December 31 In March 2002, tax legislation was passed allowing businesses to take 30% bonus depreciation for new equipment purchases made after September 10, 2001. Smart Business What your accountant can do for your business Our economy depends on small businesses to provide goods and services of every nature. Small businesses look to their accountants more than to anyone else for financial and business advice. What's New in Financial Strategies Credit card companies offer rewards for not paying your bill What's this? Credit card companies don't want you to pay? That's right. Credit card companies are starting to offer incentives to cardholders for carrying a balance on their credit cards — and paying interest on that balance. Teach your children about money Teaching your children to be money-smart is one of the greatest gifts you can give them. Too often, youngsters are sent into the world without the necessary financial skills to survive. September Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes You may want to adjust your tax payments If you pay your income taxes through quarterly estimated tax payments, you may want to review the amount you're scheduled to pay for the rest of 2003. The third payment for 2003 is due September 15, and the fourth payment is due January 15, 2004. Making gifts can be a tax-cutting strategy When it comes to your money, employing an effective gifting strategy can help you accomplish both personal and tax motives. New Business Small companies plan to hire workers A recent survey conducted by the National Federation of Independent Business indicates that the number of small companies that are planning to hire additional workers is on the rise. Earlier this year, only 1% planned to hire more employees; currently 10% do. Smart Business Should you consider an ESOP for your company? Saving taxes and motivating your employees are just two of the benefits of maintaining an employee stock ownership plan (ESOP) for your corporation. July Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes IRS alerts taxpayers to new scam The IRS has issued a consumer alert to warn people about a new scam involving the child tax credit. Act now to benefit from the new tax law The 2003 tax law has a variety of tax breaks for individuals and businesses. Here are some ideas to make the most of them. New Business Schedule K-1 matching program underway again Early in 2002, the IRS launched a program to match information reported on Schedule K-1s to the amounts reported on taxpayers' personal returns. Smart Business Make the smart choice when you drive for business If you drive your car for work, you have an important business decision to make: how to write off your car's expenses. The IRS lets you use one of two methods to calculate your deductible auto expenses - the standard mileage method or the actual expense method. What's New in Financial Strategies Identity theft insurance is a hot seller The increase in identity theft has led to a new product — identity theft insurance. Are stocks that pay dividends a better deal now? Now that the Tax Relief Act of 2003 has cut taxes on dividends, you have another issue to address in making your investment decisions: should you add dividend-paying stocks to your portfolio? June Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes New law cuts taxes to stimulate the economy On May 28, President Bush signed the Jobs and Growth Tax Relief Reconciliation Act of 2003 providing major tax cuts to American taxpayers. Be charitable and cut your taxes Volunteering your time for charity is a great way to help others and also to generate some tax benefits for yourself. Here are some points to keep in mind. New Business Study shows female-owned businesses are thriving A recent study, partly funded by the company Pitney Bowes, shows that female-owned businesses are growing in number and profitability. Smart Business How to stay competitive when the big companies move into town Many local businesses fold when a large retailer comes to their town. Is it possible to compete with these giants? You have increasing competition from the Internet and mail order sales as well. What should you do? What's New in Financial Strategies Watch for lower rates on student loans Interest rates on federal student loans are expected to fall this summer perhaps to as low as 3.42% on federal Stafford loans. Look for winning features when buying stocks Seasoned investors and new investors alike want to pick winning stocks. Though no one can offer any guarantees, smart investors associate certain characteristics with winning stocks. May Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes IRS announces standard rates for daycare meals The IRS has announced a new standard meal and snack deduction rate that will lessen the recordkeeping burden for taxpayers who provide daycare services in their homes. Act now to make this year less taxing Taxes make up the single largest expense for many American households, so it pays to keep them under control. New Business Small business identifies its biggest problem Health care costs for employees has been named by small businesses as their biggest problem, according to surveys by the National Federation of Independent Business. Smart Business Business relocation requires a plan Many businesses face the prospect of relocating their operations at some point. What's New in Financial Strategies Many workers still own too much company stock Despite recent corporate scandals, employees are showing a reluctance to cut back on the amount of company stock they own. If you own shares of your employer's stock in your retirement plan or investment portfolio, you need to review your position. Consider bonds for your portfolio Due to the turmoil in the stock market, you may be reluctant to commit money to stocks. If so, the time may be right for you to consider bonds. Diversifying your investment portfolio to include bonds can be a way to help reduce risk. March Major Tax Deadlines Keep up to date with important tax deadlines. What's New in Taxes More audits proposed The proposed 2004 budget (for the fiscal year starting October, 2003) for the Internal Revenue Service includes increased funding for the agency's audit and collection activities. There's good news in recent IRS rules on home sales Recently, the IRS issued rules clarifying the circumstances under which taxpayers can sell a home and not be taxed on the profit. New Business Start-up businesses fail less often If the widely held belief that 90% of businesses fail in their first year has kept you from starting a business, here's good news. Smart Business Try these practical ways to cut business costs If you own or manage a business, cutting costs without diminishing the quality of your goods or services is a high priority in these economically perilous times. The best way to achieve this is to return to basic, tried-and-true principles. What's New in Financial Strategies Bush's proposals could alter the savings scene If President Bush has his way, the current — and often confusing — array of college and retirement savings accounts will be reorganized and simplified. Planning to retire? You can't have your cake and eat it too Current economic conditions and extended life expectancies have led many people to reconsider their retirement plans. The information contained in this site is of a general nature and should not be acted upon in your specific situation without further details and/or professional assistance. For more information on anything in the ONLINE ADVISOR, or for assistance with any of your tax, business, or financial strategy concerns, contact our office. 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