February 2011 CPA eNewsletter

E-CPA – January 2011

BROUGHT TO YOU BY WARHAFTIG & ASSOCIATES, CPA

INSIDE THIS ISSUE:

1. WARHAFTIG & ASSOCIATES, CPA Update

2. Important Dates – Mark Your Calendar

3. Financial Planning for Special Needs Families

4. Social Security Reduction Puts More Money in Your Pocket and Represents a Savings Opportunity

5. You’re the Boss, Now It’s Time to Pay the Tax Man

6. What You Need to Know About Estate Taxes

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1. WARHAFTIG & ASSOCIATES, CPA UPDATE

1. WARHAFTIG & ASSOCIATES, CPA UPDATE.

Please remember, if you are in need of any financial and/or tax advice during the course
of the year, feel free to call to make an appointment.
Tax season is upon us, appointments are being accepted for any time after 6pm
during the week or from 8am to 10pm on the weekends. You can also mail your
tax documents and we will prepare the returns and mail them back.

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2. IMPORTANT DATES – MARK YOUR CALENDAR
Remember, if you received the $7,500 tax “Loan” in 2008 for first time homebuyers, you
will have to begin paying this back starting in 2010. $500 will be paid back over the next
15 years.

Moving from one job to another, do you want to move your 401k but need some
advice on how to move it, or even where to move it to, call for a consultation.

Please call if you have any questions or concerns.

You have until April 18th to file your 2010 tax returns, but don’t wait until then,
you can get them done now and avoid any problems.
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3. 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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4. 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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5. 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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6. 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

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E-CPA is a monthly email publication provided by

WARHAFTIG & ASSOCIATES, CPA

64 Hickory Court

Jamesburg, NJ 08831

(732) 521-3694

If you would prefer not to receive this newsletter, send an

email message to ira@warhaftigassociates.com with the words

“Unsubscribe E-CPA” in the subject line. E-CPA – December 2010

BROUGHT TO YOU BY WARHAFTIG & ASSOCIATES, CPA

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