E-CPA – August 2008

INSIDE THIS ISSUE:
1. Warhaftig & Associates, CPA Update
2. Important Dates – Mark Your Calendar
3. Drowning at the Gas Pump?
4. How to Protect Your Financial Privacy
5. When Should You Begin Taking Social Security Payments?
6. Understanding Mutual Fund Fees
7. How Long Should You Retain Financial Records?
8. Additional Headlines

1. WARHAFTIG & ASSOCIATES, CPA UPDATE
Appointments are now being taken for tax planning (get a jump
on next year and don’t be surprised), financial planning (investing, retirement, debt and credit card assistance) or anything else that we can be of assistance.
Please do not hesitate to call or e-mail us.

2. IMPORTANT DATES – MARK YOUR CALENDAR
Estimated Taxes: 3rd quarter estimated payments are due on September 15, 2008. If you would like to learn more about making estimated payments, please give us a call.

New Jersey Homestead Rebates have started to go out to seniors and disabled Taxpayers based on applications received. All others that qualify should get them later in the fall.

3. 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

4. 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

5. 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

6. 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

7. 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

8. ADDITIONAL HEADLINES

How Relationship Break-Ups Impact Home Insurance
http://www.insure.com/articles/homeinsurance/significant-other.html

Four Reasons to Forgo Credit Monitoring Services
http://www.smartmoney.com/deal-of-the-day/index.cfm?story=20080714-credit-monitoring-services

E-CPA is a monthly email publication provided by
Warhaftig & Associates, CPA
64 Hickory Court
Jamesburg, NJ 08831
(732) 521-3694
www.WarhaftigAssociates.com