Personal Finance from an Accountant's View

Double Coupon Grocery Stores In Maryland

2007-08-27T12:18:00.000-05:00

I am thinking of getting into coupons and rebates. A coworker told me that she gets a year's supply of toiletries from this and I am starting to get into this!

Went on some websites and was trying to check out this double/triple coupon phenomenon.

Source: http://www.grocerycouponguide.com/double_coupon.html
Has other states!

Maryland
Acme
Food Lion
Giant Foods
Martins (Hagerstown) - offers double coupons& every 2 or 3 months they offer 3 triple coupons in their sales circular (limited to 3 manufacturers coupons per bonus card member)
Metro
Safeway
Shoppers
Superfresh
Weis

A look at Education and Tech Workers in India

2007-08-23T14:34:00.000-05:00

India's IT industry has been the talk of the world the last decade and been fueling the tech boom everywhere. It has an amazing growth rate at approximately 25%. However India is facing a shortage in qualified workers to continue the growth.

India produces nearly half a million new engineers every year. But only 100,000 are really ready to do a good job. The graduates are learning very little when it comes to actual application and problem-solving. Classes primarily teach esoteric theory that students cram up. Cramming brings up another issue. Earlier down the pipeline than college, the best students from the best colleges mostly go through cram school where there is sheer rote of memorization and learning for the exams. Very little original thinking or even basic communication skills in writing and speaking are taught. Teamwork never really happens or project oriented thinking.

This is a major issue for India to keep up in the tech sector!!

"The problem is not a shortage of people," said Mohandas Pai, human resources chief for Infosys Technologies, the software giant that built and runs the Mysore campus for its new employees. "It's a shortage of trained people."

"This is really the Achilles heel of the industry," said James Friedman, an analyst with Susquehanna Financial Group, an investment firm based in Bala Cynwyd, Pa., who has studied the issue.

A study commissioned by a trade group, the National Association of Software and Service Companies, or Nasscom, found only one in four engineering graduates to be employable. The rest were deficient in the required technical skills, fluency in English or ability to work in a team or deliver basic oral presentations

http://www.usatoday.com/tech/techinvestor/industry/2007-04-06-india-workers_N.htm?csp=34

Illegal Immigration

2007-08-23T14:20:00.000-05:00

Normally, I don't like to write about politically charged issues in my blog. However, this issue does intersect the area I most enjoy writing about. Money, jobs, business and the rising costs for Americans.

Per the Heritage Foundation, it is estimated that 1 Billion people around the world would like to live in the USA.

As an auditor who works with a lot of databases, I find that it is fairly easy in at least 50% if not more of the case to detect illegal immigrants by employers who could expend a rudimentary effort. Fake Social Security Numbers are used and can be detected with the assistance of the social security administration for all business.

It has been estimated that the true cost of illegal immigrants even after amnesty is high. Why? Low-skilled individuals, legal or illegal, cost the government much more than they pay in taxes, Uncle Sam would be out-of-pocket $70 billion a year.

Heritage calculates that the average household of a high school dropout pays about $9,600 in taxes, including payroll, sales, excise, possibly income (often offset by the Earned Income Tax Credit), property, etc. That same household receives about $32,000 a year in government services. These include Social Security, Medicare, education, welfare, highways, police and fire protection, etc. The net cost to society for each low income and low skilled individual can be reasonably estimated from these figures to be $22,000 cost to society!!!

Additionally, these immigrants are being really exploited by the businesses who hire them. The Southern Poverty Law Center struck a blow at existing guest-worker programs, and perhaps Mr. Bush's proposal, with a detailed report concluding that guest workers are "close to slavery." They are paid little, routinely cheated out of wages, forced to live in squalid conditions, and held virtually captive by employers who seize their documents. It's an "untenable situation ... not morally acceptable," says Mary Bauer, author of the report.

Source: http://www.csmonitor.com/2007/0319/p16s01-cogn.html?page=2

Know your neighborhood and MONITOR IT

2007-08-14T13:25:00.000-05:00

When I first relocated to Cockeysville, MD - I wanted to know more about it. At that time I was considering the various suburbs of Baltimore.

1. First I looked at Crime - The following Website was invaluable for this. http://www.relocationessentials.com/aff/www/tools/crime/crime.aspx

2. I then wanted to do a general community research. http://www.relocationessentials.com/CommunityResearch.aspx The things to look for was the school report card, salary analyzer, community comparison..etc.

3. Next I wanted general comparisons to the best place to live. CNN Money Magazine does that well with plenty of detail from crime, demographics, income, education, health, etc... http://money.cnn.com/magazines/moneymag/bplive/2007/ Enter your zip code and check it out!

4. Summary information for a quick comparison is also possible - lot less detail than CNN Money's. http://www.bestplaces.net/zip-code/

Population Growth Rate 7.9%

Median House Cost $480,100 & Home Appreciation 19.40%

Cost of Living - 25.17% Higher than the U.S. average

Public School expenditure per student - 6,588 per student

Unemployment Rates - 4.3%

CellPhone Contract trading!!!

2007-08-14T12:57:00.000-05:00

Okay my husband has a cell phone contract with Sprint. Nothing personal against the company but I always was amused at the fact that when I lived at Kansas City (Sprint HQ city), lot of Sprint employees couldn't get decent cell signal. Lot's of blackout points..etc.

My husband also has a problem whenever he is at his parents house in a major metro area. No cell signal. So what's a person to do if they move around and get locked into a contract with bad cell signal?

One option might be to go to celltradeusa.com - this is a web site where they can sell their cellphone contract to someone else. People end up bidding on these contracts and phone.

Why would this service be popular? Early termination fees are high = $200 wowsers!!

Retail Healthcare Alternative to Traditional Doc's office

2007-08-14T12:20:00.000-05:00

Okay. I am all for competition in any form. Especially in the exorbitantly expensive medical side.
I am also for efficiency and efficacy - somethings that seems to be laughable concepts in healthcare. So I am delighted to say I am quite pleased to see some competition given by in-store retail health clinics in places like Target, Walmart, now. All the drugstores have a health clinic associated.

Source: Reuters "Health insurers have embraced the concept because the clinics promise considerable savings. While a typical doctor visit for a basic illness costs an insurer about $110, a visit to one of the clinics usually costs under $60. In addition, the clinic services are far cheaper than the emergency room, which is where patients often wind up when they need medical care outside business hours. (A strep throat test at the emergency room can cost over $300.) Some insurers are actively encouraging patients to use the clinics by lowering the co-pay. In Minnesota, companies including Blue Cross Blue Shield of Minnesota and Graco Inc., have reduced or eliminated co-pays for employees who opt to use a MinuteClinic instead of a doctor. Take Care has deals in place with several insurers in Portland."

It is very convenient as these clinics are open weekend and evening hours - usually as long as the store pharmacies are open. Additionally no need for advance appointments and wait time is pretty short. Fore example - In Baltimore, at least 4 Targets are also overseen by GBMC Hospital physicians. If there is more required, these clinics give physician referrels..but for the average sore throat, stomach ache, and other preventative/medical primary care needs I really liked it.

Source: Reuters April 12, 2007 "Wal-Mart Stores Inc. is forecasting more than 6,600 in-store medical clinics will open their doors in the next five years in retailers nationwide, a company official said on Thursday.

I am really excited as this will give doctors the run for the money and alleviate the primary care shortage. Currently Wal-Mart has only 75 clinics open nationwide but customer appetite is eager for this. Hence more clinics will be rolled out. So here are some sample services. These retailers partner with other organizations to get there services below:

Sample Services

Diagnostic Tests

Albumin
Blood type
BUN
Calcium
CBC
Cholesterol Profiles
CMP
Creatinine
Diabetic blood tests
Drug Screens (Urine)
H. Pylori
Hemoglobin A1C
HIV
Liver Profile
Lyme Disease Titer
Potassium (Serum)
PSA
Pregnancy test (Serum)
Pregnancy tests (Urine)
Sodium (Serum)
TSH

Immunizations & Vaccinations

Flu Vaccine
Pneumonia
Tetanus/Diphtheria
Hepatitis B

Physicals

School/College Sports
DOT Physicals
Sports/Camp Physicals

Illness & Disease Management

Acne
Athletes Foot
Allergies
Bladder Infection
Bronchitis
Colds
Constipation
Cough
Diarrhea
Dysuria (Painful Urination)
Ear Pain
Flu
Insomnia
Jock Itch
Laryngitis
Mono
Nail Fungus
Nausea
Pink Eye
Skin Rashes
Sinus Infections (Sinusitis)
Sore Throat (Strep)
Styes and Chalazia
Warts

Prevention

Depression Screening
Nutritional Counseling
Memory Loss Screening
Sleep Hygiene
Smoking Cessation
Weight Loss / Weight Management

Service Providers/Retailers:

MinuteClinic / Target

InterFit Health / Walmart

MinuteClinic /CVS

Take Care / Walgreens

First Class Reading material for Free

2007-07-31T08:14:00.000-05:00

Okay. I am huge proponent of Free Magazines that offer quality reading! Airlines have some really good ones that actually can help you become more erudite, refined, and seem like a natural member of the educated jet-set crowd.I think this makes you a more cosmopolitan and globally aware person.

So next time you amble next to a prominent politician or anyone else in first class (should you get upgraded from cattle class (economy)) - you will definitely seem like a pro at this rather than a newbie. This is what they are reading too as they wait in their first class lounges.You can have the same exposure without the high price tag and become a discerning sophisticate who understands finesse, taste, and can make a crowd intrigued with your intelligent bon mots on any topic!
_____________________________________

1. A calendar of events, business and travel articles, and destinations off the beaten path are a few of the online offerings of Delta's in flight magazine Delta Sky.

2. Air Canada's offering is EnRoute making a few of their magazine's feature articles online along with an archive of past features and movie and audio entertainment information.

3. Alaska Airlines/Horizons Air gives the online reader access to its cover feature, and cover features of past cover features.

4. American Airlines magazine, American Way offers virtually the entire magazine online. Route maps, lifestyle articles, travel features - even the crossword puzzle is offered online!

5. US Airways Magazine Current articles. City Profiles, Real Estate, Business, Gadget Reviews, Food Reviews, Tip/Tricks, Biographies..This is a great magazine to read! Lots of trivia and general knowledge learnt.

6. Hemispheres, the in flight magazine of United Airlines seems to be fully available to Internet users. There are lots of fun and interesting travel facts, an online version of its crossword puzzle, and gourmet themed articles among the many offerings provided for its online readers.

7. Hana Hou! the in flight magazine of Hawaiian Airlines gives the online reader lots of advice as to their "best of" the Hawaiian Islands. Feature articles from present and past issues are also available for reading.

8. Southwest Airlines Spirit does not have enough readily available articles or other features. However, you can read various articles sometimes. The feature stories are often varied and they also have some interesting fiction features. Being a budget airline, I think the website reflects the readership expectations. However, I would not look down my nose at a possible venue for interesting information! Knowledge is power - however low-budget the learning.

9. SkyWest Magazine Small publication of SkyWest Airlines. This magazine highlights little known places and resorts in the U.S. This is for the discerning reader that wants to find out information about the diamond in the rough or the places where the truly sophisticated go to.

10. SN Brussels The in-flight title for Brussels Airlines. Pretty good articles for a small Euro magazine. It has world-class photography, bios, business articles, reviews on spas/cities/etc., not many articles but the few that are there are interesting and may not be learnt of any other way.

11. Tiger Tales A quarterly magazine for the Asian market, read by the passengers of Tiger Airways. Lots of information and coverage from Saigon, Vietnam to Bankgok, Thailand. I would definitely recommending this to stay abreast of some cool information on Southeast Asia. Great for General Knowledge as well as the best spas, restaurants, and also random real estate investment ideas. (:

12. Velocity The in-flight magazine of VLM Airlines. Designed to appeal to the modern business traveller, the magazine casts a slick, stylish eye over the latest in entertainment, business, motoring, sport and a host of other contemporary subjects.

13. WorldTraveler The magazine of Northwest Airlines. Does not have more than 10 major reads per issue they put out. But they have some interesting coverage of 1 international, 1 domestic U.S. city, and another cover story/profile, etc... Additionally, they have an education, money, and medical section reflecting the broad customer base of the airline.

14. WizzIt The in-flight magazine of Wizz Air. Primarily has reviews of European cities, spas, etc. Also has an occasional real estate magazine. Primary topic is European travel and reviews.

15. The Australian Way The in flight magazine of QANTAS. Reflecting the Australian psyche has articles on adventure travel, sports, food, wine, games....etc.

16. Bradmans A business travel guide distributed through major airlines on selected flights and in first and business class lounges. Four editions cover Europe, North America, Asia, and The Middle East.

17. easyJet In-Flight Read the on-line version of the easyJet in-flight magazine has features, business, and real estate articles. Features deal with style, health, bargains, and information on different regions. Even some trivia, sports, profiles, etc..

18. Fah Thai A a bi-monthly magazine for the passengers of Bangkok Airways. Some interesting articles..but mainly only for people intrigued with that region. Not very global oriented magazine.

19. go Magazine AirTran Airways in-flight magazine. Interesting features on tech. gadgets, business, property, book reviews, sports, beauty tips, all around interesting ideas, quizzes, etc...

20. Impressions Carried on BMED (operating as British Airways) flights from London Heathrow Terminal 4 to Ethiopia, Kazakstan, etc...as well in Business Class lounges of destinations. The features in this magazine are quite interesting for information on Central Asia and former Soviet Republics. Cultural, business, and other articles.Impressions Magazine is a contemporary high calibre quarterly publication that caters for the modern traveller. Impressions is one of the few in flight magazines with dedicated features and information on every destination. Readers are local and international. business and leisure travellers with a high disposable income and sophisticated lifestyle.

Deals better than Ebay at Property Room

2007-07-30T12:31:00.000-05:00

All right I never thought I would find a more intriguing site than E-Bay.

I have found it now. http://www.propertyroom.com

This website has really made it easier to get a bargain now on property seized by police departments in US. Real estate for $100 to cheap high-end jewelry and watches.
Earlier one had to go to warehouses and go through musty boxes. Now police can be put up nationally now.

This website has verified the authenticity and repair items like Rolex's etc.

This website has electronics, computers, jewelry, and even things like athletci wear adn real estate. (:

Enjoy. This stuff moves fairly quickly!

Citizenship and green card fees going up up up!!! So file now!

2007-07-23T11:54:00.000-05:00

US Citizenship and Immigration Services announced its long-awaited, and much-dreaded, schedule of fee increases recently!

As of July 30, when the fee hikes go into effect, it will cost an individual $675 to file a citizenship application. The current fee is $400.

The increases are expected to raise an extra $1 billion for the Citizenship and Immigration Services Department, which processes 6 million to 8 million applications each year, including those from immigrants seeking citizenship, legal permanent residency, or green cards; work authorizations; asylum petitions; and US citizen petitions to bring fiancées or adopted children into the country.

What about green cards??? Even more expensive!

The cost to start the green card process, the first step in attaining citizenship, will increase from $325 to $1,100.

Deed of Trust Mortgages in 34 states impact fast foreclosures

2007-07-23T10:18:00.000-05:00

Source: CNN Money -http://money.cnn.com/2007/07/19/real_estate/foreclosure_by_the_state/index.htm?postversion=2007072012

1. There are two types of mortgages law and paperwork you can have. It impacts on whether a lender needs to go to court to secure a foreclosure against you or not.

The two types are:

A. Conventional Mortgage
B. Deed of Trust

The Deed of Trust is most common and is used in 34 states primarily because for lenders it is quick and they don't have to go to court.

What's the difference?

The difference is this: Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans.

So okay, now it is easy to foreclose on your house without courts....how long do you as the homeowner have?

Well in Alabama 30 days, California 120 days, and in New York over a year...get the idea. It is state by state?

So how do you know what your state's policy is? see how long it generally takes in your home state, go to Foreclosures.com and click on a state!!!

I did that for Maryland where I am currently residing..and it's 90 days!!! yipes.

Starting a journey

2007-07-20T12:17:00.000-05:00

Okay. The last couple of years have been professionally satisfying and learning the field. However, I have been itching to get my ambitions, energies, and life focused towards entrepreneurship skills. I recently sat down and took stock of all my skills so far. God has blessed me with a knack for being interested in everything and being able to learn most anything. Now, I would like to hone my skills from a generalist to a specialist.

Some skills to improve in the next couple of years:

1. Artistic Skills - Learn Photoshop, Illustrator, and Macromedia.

Plan of action: from my friend D - a great professional in the field of instructional design! Bartering a meal for a lesson!! woot!

Plan 2: Complete 10 paintings and sketches in 2007 of extreme work.

2. Language Skills - Learn Hindi and Spanish period.

Plan of action: Find some course, in the meantime checkout some books. I also joined a Hindi language meetup group. Also my Bihari friend S - can practice with her on the phone!!!

3. Get into a good business school where I can take the type of courses that can hone the analytics, artistic, innovative, energetic, and ambitious sides of me.

Plan of Action: This one is a bit further down the path. Still have to complete my CFA and evaluate if an MBA is worth the time and effort and also do the GMAT!!!

I am also learning to look at opportunities around me.

4. Bone up the math classes.

Plan of Action: My husband is very good at this! Get tutoring from him.

Community Property or Marital Property

2007-07-18T09:24:00.001-05:00

Being newly married, my husband and I are currently figuring out the finances. Some of the issues that come up are...

Joint or individual accounts
Beneficiaries of retirement accounts, investment accounts, and life insurance
Health Insurance
Property bought before marriage and concept of marital property

A. So for the first - we have created a joint savings and a joint checking and maintain other individual accounts.

B. For the second - that's the no-brainer. We just updated payroll/benefits records with our HR contacts.

C. For the third - I ended up staying with my company-provided insurance. Additionally as he gets insurance from Johns Hopkins at no cost for himself or me as a resident, I took that coverage as well. That allows me the option to go to Wilmer Eye Center (Johns Hopkins) level and get evaluated. One of my close family friends recently had a retinal detachment due to high myopia so thought that it would be reasonable for me to get mine checked out! My husband decided he did not need secondary coverage from my insurance.

D. For the fourth - this was more of an FYI due to the fact I had property relationships on a house and cars before I met my husband. Many of these were jointly held with the parents as I was young and single. I just notarized and signed over interest on most of them as them met the criteria of under the gift threshold prior to my wedding. I am now on those only as a guarantee for any property with loans still.

Additionally, what is marital property. This differs state by state. For Maryland, it is not a community property state but an "equitable distribution" state:

So what does that mean?

Maryland Marital property is: (a) Real property held as tenants by the entirety, unless excluded by valid agreement. (b) Any property acquired by 1 or both parties during marriage, and does not include any property (1) acquired before the marriage, (2) acquired by inheritance or gift from a third party, (3) excluded by valid agreement, or (4) directly traceable to any of these sources.

1. All individual bank accounts can be considered fair game for marital property in a divorce proceeding - with the funds earned or accrued (interest) after marriage being considered marital property.

2. For a house....ex 1 - So, for example, a house that had been acquired by one spouse, subject to a mortgage, prior to a marriage, is initially wholly nonmarital property; as mortgage payments are made out of marital funds during the marriage, the property becomes partially marital.

3. investments, joint accounts, retirement accounts, pensions, cars, household goods, etc..are all subject to marital property divisions if they are acquired after marriage with the exception of pension and retirement accounts/benefits. That likely depends on length of marriage.

Children and their changing role in US

2007-07-11T14:19:00.000-05:00

It is interesting to note the role of children and how their place in American society is changing.

Source: http://www.vault.com/

America becomes a more 'adult-centered' nation. Americans' child-free years are expanding as empty-nest seniors live longer and more young adults delay - or skip - childbearing. In 1960, nearly half of all households had children under 18. By 2000, the portion had fallen to less than a third, and in a few short years it's projected to drop to a quarter, according to a report from the National Marriage Project. Children are also taking a back seat in perceptions of marriage's purpose. Since 1990, the percentage of people who said children were very important to a successful marriage tumbled from 65 percent to 41 percent. The findings were released in a Pew Research report last week.

Languages

2007-07-11T13:43:00.000-05:00

One of the most important aspects of life today is communicating with each other. This always has been important. Today in a global environment, I would say it is the most important. I welcome comments on this. I came across an article:

http://www.usatoday.com/money/companies/management/2007-07-08-corporate-diversity_N.htm

This article proves that the world indeed has become flat. Borders no longer exist as many industries are seamlessly connected by bits and bytes in the vast computer networks of banking, supply chain and distribution, and the knowledge transfer and interactions via internet.

In my own work for a global manufacturing company, I have used facebook, email, windows live messenger, and WEBEX conferencing software to stay in touch or coordinate for teamwork with my coworkers.

U.S. companies are indeed like the UN. I personally work with people from India, China, Mexico, South America, Italy, Germany, and Senegal. This is all without leaving my office. When I talk to people in other countries for work, I can choose from over 80 countries. It's wonderful. So to be prepared in this environment, what's the best thing one can do. I would recommend picking up three languages.

1. Spanish
2. Hindi
3. Mandarin

If you are in manufacturing, retail, service, healthcare, banking..anything. SPANISH is the first priority.

If you are wanting to take advantage of the next China or work in the computer industry..believe me Hindi is a handy language.

I only left Mandarin for last because it is quite a difficult language to learn. But it is well worth learning. This one will make you really sought after. I would put it ahead of Hindi if it was equally easy to learn. Hindi and Spanish are the most easy on this list.

Anyone with these three languages fluency should have no problem getting a job! I guarantee it! These are the soft skills that can make you stand out from the rest and have companies competing for you...and that signing on bonus can be a hefty one indeed. Hopefully enough to get the Bimmer you have been eyeing rather than the flat-screen TV. (:

What People Want - Pew Research.

2007-07-02T08:29:00.001-05:00

Is a Million Dollars Enough?

2007-06-29T15:16:00.000-05:00

I used to think that a million dollars would be enough for my retirement.

Per the WSJ - it just is not what it used to be. $1,000,000 in 1987 versus today in 2007 ouch! Today's million only has 54% of the purchasing power of 1987 millions!

It will still put you in the top 2% of American adults. However, definitely not in the bling or the lap of Madison Avenue staples of Gucci, Louis Vuitton, etc...

Did you know the wealthiest group of people in US include households headed by 55-65 year olds. Their median net worth including their home equity is below $250,000.

How to pick a great jewelry appraiser

2007-06-08T09:35:00.000-05:00

http://www.palagems.com/choosing_an_appraiser.htm

This website is great. I used this for getting the right appraisal for my engagement ring insurance.

1. This profession has no standards so that means the onus is on the customer to pick the right appraiser.

2. I am going through Jewelry Mutual (their primary business is insuring jewelry) for a replacement value policy. They go through the primary jewelers of your choice and let you pick the appraiser.

3. My appraiser will be Dr. Etta Saunders with Saunders Appraising in Gaitersburg, MD at 301-990-o901. My approach is to use the same appraiser. Most appraisals are ideally redone every 2 years due to changing market conditions.

Some of the questions I used when I was conducting my inquiry was:

1. Identified that I was interested in an appraisal for insurance purposes.
2. Mentioned that it is for a diamond engagement ring for full replacement policy.
3. Questioned qualifications and years of experience.
4. I asked for a copy of professional profile and references. I also questioned whether they were certified, specific accredidations, and also societies/professional organizations that she belongs too.
5. I also asked what would be included in the appraisal binder. AKA what is the final product? Could I see a sample? Also does it include photographs, specifications, appraisal method details. Does the cover document mention the purpose of this appraisal will be for insurance?

Since this is a diamond...diamonds are appraised via comparisons with a master set of no less than 5 diamonds of quality. So also do inquire about the master set's specifications.

What should be contained in a proper appraisal body (item description)?
1. Type of item (watch, ring, pendant, etc.)
2. Gender (men’s, lady’s)
3. Metal contents and type (14kt, 18kt, yellow, white, 950 platinum, 925 sterling silver, etc.)
4. Manufacturing process (cast, die struck, hand fabricated or combinations)
5. Metal finishes (high polished, satin, Florentine, hand engraved, etc.)
6. Types of findings (box clasp, friction posts and nuts, mechanical pin, spring ring, etc.)
7. Settings (6 prong platinum head, yellow gold bezel, bead set, etc.)
8. Measurements (length, width, thickness)
9. Item shapes (heart shaped pendant, knife-edge shank, round bezel, etc.)
10. Metal weight in pennyweight or grams (gross with stones or net with out stones or non precious metal parts).
11. Engraving (example: inside shank machine engraved in block letters ‘Sally Loves Johnny 1-25-95’)
12. Circa (the age of the item, modern, 1915, 1965, etc.)
13. Condition of the piece (excellent, good: slight wear; fair: heavy wear with some damage, etc.) 14. Marriage (this pendant was converted from a ring, this brooch has had a bail added to be worn as a pendant, etc)
15. Style number (if known)
16. Manufacturer (if known)
17. Signatures, hallmarks, and trademarks (if on item)
18. Provenance (If it can be proven: this ring belonged to Queen Elizabeth. If it cannot be proven: this item was represented to the client as having belonged to the Duchess of York, but cannot be substantiated.) This should also include any supporting documentation.
19. Family Lore (family legend has it that this ring belonged to great Aunt Helga whom received it in 1919 and was handed down to Sally in 1950, etc.)
20. Photographs (archived negative numbers?)

Keeping Cool and Saving Money this summer

2007-05-23T13:58:00.000-05:00

You know it takes a lot of energy to keep cool this summer.
So what are some things one can do?

1. Plant trees on the south and west sides of the house.

**** That offers shade so light doesn't get into these. Those windows in summer heat the house the most. Shading a house reduces indoor temperatures as much as 20 degrees! Thermally efficient trees are the deciduous type as they lose leaves in fall and don't block sun in winter. If tree shades an AC - improves efficiency 10%!!!

2. Cover Windows:

**** Buy shades for windows that block sunlight in the east and west of your house or you can use curtains or heavy drapes. Venetian blinds also are good at blocking heat but letting in light.

**** Essential Double Cell window shade covering blocks 65% of heat transfer.
Cost 36-60 inch shade starts at $75

3. Install an awning.

**** These create shade on the outside of the windows by blocking direct sunlight. A properly installed awning can reduce heat gain by 66% on Southern windows and 77% on East windows per the Dept. of Energy. Cost: Normal awning for a side window is between $250-350 and lasts 10-12 years.

4. Ventilate the house by opening the right windows.

**** Open the top windows and the bottom windows. Do close in the hottest part of the day as otherwise you will feel a hot breeze...not fun.

5. Turn on a fan.

**** Humans can tolerate a warmer room as long as you keep the air moving. Room box fans are $20 and use less than 100 watts a day to operate. By contrast a room air conditioner uses 500 watts or more a day.

Do a trick I used to do in India - Hang thin wet clothes in front of the fan and it cools the air. Or take a cold shower and stand in front of the fan to cool off before going to bed. dampen a sheet a bit too before sleeping.

Word from Wall Street on the Real Estate Shakedown

2007-05-14T09:45:00.000-05:00

Per WSJ today:

There were a couple of headlines in this newspaper today. I am including it in the bottom. I believe the nation's pulse is certainly determined by real estate. I have always been not too keen on the speculative fever that drove prices up in Florida in the first place..however, I do believe there are still opportunities around the country. The first article was interesting to me. This is the time to shop around and find deals amount the housing inventory more banks will be responsible for offloading as their inventories go up along with foreclosures.

Additionally, I think it's a good time to look at commercial rental properties around the country especially near colleges.

However, I don't think people should take undue risk with commercial property if they are not ready to weather some volatility and handle the interest+mortgage payments about 10-30% per month set aside in a repairs fund depending on the age of the property.

1. Mortgage Woes Force Banks To Take Hits to Sell Homes

• The Situation: Surging foreclosures over the past year or so have left lenders with a rising backlog of homes.

• The Strategy: Some lenders are turning to large-scale auctions rather than the practice of relying on real-estate agents.

• The Consequence: Mortgage lenders are finding they must accept big discounts in some cases to unload properties.

Example of a win for buyers: At the San Diego sale, houses and condos typically sold for about 30% below the previous sale or appraisal prices. In a few cases, the discounts were around 50%.

2. Does Canary In U.S. Economy Nest in Florida?

If the housing-market shakeout has an epicenter, it probably lies in Florida. For companies with business tied closely to the state, that is a problem.

Home builders, hard hit everywhere, are getting hit hardest in Florida. Building permits for new-home construction -- an important leading indicator of activity -- were 51% below their year-ago level in the first quarter, according to the Commerce Department. That was twice the nationwide rate of decline for permits. Of the 10 U.S. metropolitan areas with the biggest declines in housing permits, seven are in Florida.

Target Date Lifecycle Mutual Funds For Retirement

2007-05-07T14:37:00.000-05:00

I would recommend these. I actually have my TSP (Federal Gov't Retirement Fund) in a Lifecycle fund set for the year 2040. So that I take the most risk.

http://mutualfunds.about.com/od/lifecyclefunds/a/lifecyclelist.htm - Has a list of current lifecycle fund offerings...so you can find your investment or 401K brokerage/bank and see what they offer.

Main reasons are: They are cheap, elegant in their simplicity, and have a professional manage the risk. For the person who is extremely unsure but needs to do a no-brainer approach this is it! Fidelity has several funds available inexpensively. Great for young people starting their first job and thinking of ROTHs or anyone else.

Here's what the professionals have to say...

Target-date funds will continue to increase in popularity due to their simplicity, automatic rebalancing and diversification, according to panelists at Financial Research Associates' "Target Date Lifecycle Funds" conference here last week. Assets in target-date funds are now $145 billion, up 32% from $110 billion last year, according to data from Financial Research Corp. of Boston. And over the next five years, assets are expected to grow at an annual rate of 26%. Last year, fund companies introduced 302 new lifecycle funds, according to data from Morningstar.

Assets in target-date funds are now $145 billion, up 32% from $110 billion last year, according to data from Financial Research Corp. of Boston. And over the next five years, assets are expected to grow at an annual rate of 26%. Last year, fund companies introduced 302 new lifecycle funds, according to data from Morningstar.

Now everything has a drawback..per the professionals:

For all their growing popularity, target-date funds face critical challenges. As these are relatively new investment solutions-the first target-date fund was introduced in 1993 but they didn't start to flood the market until the past few years-the industry only knows how these investments will perform in a bull market. Should a prolonged bear market occur, "we need to make sure people do not get scared and pull out of the investments" if the returns start going downward, Sturiale said. Individuals need to be educated that these are good vehicles, but they can fall in value, and if they believe they won't, then "we haven't done our job," he added.

Insuring Fine Jewelry

2007-05-07T12:59:00.000-05:00

Reputable Insurance Companies:

http://www.jewelersmutual.com/ - This is the GOLD standard and their only business is jewelry.
http://www.chubb.com/personal/valuable_articles.jsp

I am a huge advocate as an accountant for pre-planning. So say you get engaged and a beautiful diamond ring makes its way onto your hand, what's the next best thing to do? After thanking the gentleman for truly buying something lovely for you, you can then get thinking about insurance.

If he was smart enough to get you a certified diamond jewelry - this is easier.

Did you know in a standard homeowners insurance policy, coverage limits for jewelry, furs, watches, and related items is only $1,000 combined? These and other limits are in place to encourage home owners to buy additional insurance coverage for valuable and hard to replace items. THIS IS FOR THOSE OF YOU WHO MAY NOT KNOW THE RENTAL/HOMEOWNER'S INSURANCE MAY NOT BE ADEQUATE!! Check just to make sure though as each policy is different.

Two recommendations I have is:

1. I would also recommend you take a professional picture of the diamond.
2. Additionally, get full information on the specifications from your jeweler of the ring and an appraisal.

Some questions to speak with the agent about:

1. Is there a deductible? If so, how much is it and how does raising or lowering the deductible affect your policy costs?

2. Is an appraisal required prior to obtaining insurance? Are there only certain types of appraisers whose reports are accepted?

3. Are the items covered no matter where they take place? Would the policy cover you for a loss that occurs during domestic or international travel?

4. Are items covered for full replacement cost? Must you replace the item, or can you obtain a cash settlement?

5. Does the policy cover repairs to damaged jewelry?

What could it cost to insure valuables from the super-sleek to the everyday? The following chart gives estimates of what it could cost to insure your jewelry around the country.

Jewelry Value	Atlanta	Chicago	Denver	Los Angeles	New York
$2,000,000	$44,000	$38,000	$34,000	$108,800	$59,000
$50,000	$1,100	$950	$850	$2,720	$1,475
$10,000	$220	$190	$170	$544	$267
$5,000	$110	$95	$85	$272	$106

Replacement policies are where the company agrees to replace or repair the property in the case of a loss. This is the most common style. If you file a claim, they will send you to a local supplier who will get you a replacement piece based on the description that was included when you wrote the original policy. This comes from the appraisal that you submit to them at the beginning. If you are unhappy with their choices for suppliers, they will allow you to go elsewhere but they will only pay the amount that would have been necessary to pay their chosen source. If you can get it cheaper than that, you get the extra money and if you want to spend more, you must pay the extra.

State Farm Insurance
Farmers
Allstate Insurance
Jewelers Mutual Insurance

Defined Value policies are where you agree in advance with the company how much will be paid in the case of a loss. This can be done with an appraisal or with the original sales documentation. In the case of a total loss, the company will cut you a check for the full defined value. Payout in the case of a partial loss (for example a lost stone) will depend on the details of the company and policy chosen but the most common approach is for the company to pay for repairs using a contractor of their choice.

Chubb
Fireman's Fund
Lloyds of London
USAA

100th Blog Post!!! Woohoo!

2007-05-04T14:07:00.000-05:00

Just wanted to say that to all my readers out there..thanks for reading this far. 100th blog post..wow! Never thought I would have enough topics to have to write on..but wow. There is plenty out there. My next post will be on a more sober topic I promise as befits an accountant. However, wanted to add some humor for this post.

What are the odds of an IRS tax audit?

2007-05-02T13:19:00.000-05:00

In general, your odds of being one of the lucky ones to be chosen for an IRS tax audit are less than 1%.

IRS statistics for the year 2002 (the last year for which statistics are available), show that out of 130,341,200 returns filed, 728,003 returns were subject to audit, or .56%. An additional 10.22% or 13,315,765 returns had math errors and 1,491,139, or 1.15% of the returns filed had one or more items under reported.

(The under reporting is determined by matching returns with W-2s and Information Returns such as 1099s.)

How to Pick a Great Mechanic, especially when moving to a new town?

2007-05-01T16:20:00.000-05:00

Well first thing to do is ask around. Second thing to do is go to Click and Clack's car talk page....don't pass go, don't collect $200...go to

http://cartalk.com/content/mechx/

first and do a zip code search. It has worked for me 100% as a woman and not get cheated through 5 major and rural cities in US.

Found the current mechanic Hollenshade's..by far one of the best garages in Baltimore area.

Returning Makeup that's useless

2007-05-01T15:11:00.001-05:00

Source: NYTimes "Retailers Take the Blush Out of Makeup Returns "

For those would-be returners who anticipate withering looks from salesclerks, fear not.It has become easier to return cosmetics over the last few years, according to Karen Grant, the beauty senior industry analyst at the NPD Group, a market research firm that tracks beauty sales.

Sephora, in particular, has established a reputation for a friendly and streamlined return process. The company gives refunds, exchanges or credit within 60 days of purchase on both unopened and opened products, said Betsy Olum, senior vice president for marketing. Beyond 60 days of purchase, credit is issued for returns. Ms. Olum added that people can return products bought from sephora.com to any of the company’s stores.

That really reassures me because so many lipsticks look different than I expected. I hate wasting the money.

For the Legal Eagles..The Shrinking Applicant Pool:

2007-05-01T14:52:00.000-05:00

Source: http://www.vault.com

By Blueprint Test Preparation

Blueprint Test Preparation, unites the finest instructors with the most extensive, detailed and up-to-date LSAT course available.

Applicants seeking admission to law school for the fall of 2007 are each unique, but as a group they share a universal, and somewhat unusual, characteristic. They are the first applicant pool in five years to see the number of overall applicants decrease, based on the February data. After 2001 (perhaps due to the dot-com bust), the number of applicants to U.S. law schools increased steadily, leveling out around 2005. 2006 is the first year to see a dramatic decrease in the overall numbers.

The decrease in applicants has affected nearly every school. The New York Times recently reported that, as a whole, law school applications are down 9.5 percent from last year. And while some have speculated that the decrease is most pronounced for schools in the second and third tier, the Times reported that many top schools had been heavily impacted by the decline. Harvard, which typically has one of the largest applicant pools of any law school, saw numbers drop from 7,386 last year to 7,127 this year. Similarly, Stanford saw applicants slip from 5,040 to 4,863, and Columbia showed one of the largest decreases with numbers falling from 8,355 to 8,020.

But does a decrease in overall applicants mean that the admissions process is changing? One sign that the applicant pool is experiencing ripples includes Yale Law School's recently relaxed rules regarding LSAT test dates. Yale typically does not consider test scores from administrations after December for fall admissions, but this year the consistently top-ranked school altered its policy to allow February test takers to apply for the fall of 2007. Perhaps because of the change, Yale is the only school whose number of overall applicants has only been slighted affected, down just five students from 2005.

The numbers are certainly falling, but it is difficult to determine why or what this means for applicants. With national unemployment at just 4.7 percent, (a four-year low), some speculate that the strong economy is luring more young people to the workforce before pursuing advanced degrees.

Another factor may be the increased cost of attending law school. Even at UCLA, a public school subsidized by tax dollars, tuition has doubled over the last several years and now hovers around $24,000. Even so, the cost of attending UCLA is still significantly less than the cost of attending a private school. (Stanford Law School's tuition for the 2007/2008 school year was just under $40,000). With tuition increasing, prospective students may be taking more time to consider the financial implications of assuming hefty student loans.

It is also possible that the increased competitiveness of the admissions game has discouraged some students from applying. With a tightening LSAT curve and increasing GPA demands, the process itself may have become so difficult that people who would have applied cavalierly before are now rethinking the process until they can be sure that applying to law school is the right decision.

Still another theory is that, like the real estate market, the law school applicant pool is experiencing a normal correction, balancing itself out after the spike in applicants over the last five years.

Whatever the reason, there is no proof that the decrease in applicants is making it any less difficult to obtain admission at competitive schools. In fact, the tightening LSAT curve and the stability of Yale's applicant pool suggests that the most competitive candidates, those who are targeting elite schools and competitive firm jobs, are still applying in large numbers.

If the applicant pool is shrinking, but overall competition is not slackening, the LSAT is as important than ever. And in light of the applicant boom and the fierce competition in law school admissions over the last decade, even a 10 percent decrease in applicants is unlikely to make the application process significantly easier. Obtaining admission to law school is still a tough and competitive process. Whatever the applicant pool numbers, an outstanding LSAT score continues to be essential to ensure your place in a law school class."

Motor oil - synthetic versus regular

2007-05-01T14:00:00.000-05:00

Synthetic oil is a good choice if you have a vehicle with a high performance engine (in fact synthetic is required for many of these engines). It is also a good choice if your vehicle is operated in extremely cold climates. It has higher resistance to breakdown caused by heat and it flows better in extreme cold. Generally speaking, you can also go longer between oil changes. Very convenient for those of us who find it annoying to keep going back and forth to the mechanic.

What is synthetic oil? Per my source: http://www.carcraft.com/techarticles/synthetic_vs_conventional_oil/

Synthetic oils, pioneered in the ’70s by Mobil and now available from most major oil companies, take the all-season, multiviscosity approach to the outer limits. Unlike traditional mineral oils that are produced by distillation and further refining of existing crude oil stock, synthetic lubricants are made through chemical reactions. These new oils aren’t synthetic or artificial in the sense that they’re manufactured out of whole cloth--they still have the same natural ingredients found in "real" oil. But in a synthetic lubricant, these ingredients are recombined like a Lego set to yield synthesized-hydrocarbon molecular chains with desirable characteristics and uniformity not found in even the highest-quality traditional motor oils. Typically, the best synthetic oils use a combination of up to three different synthetic base fluids--polyalphaolefin (PAO), synthetic esters, and alkylated aromatics.

Some people prefer conventional oil which is thinner as it provides less initial drag on the engines at startup. I personally prefer the extended engine life. Conventional is thinner viscosity and lot less expensive. But I think you get what you pay for with cars and maintenance.

The Lowdown on Actuaries and Actuarial Science

2007-05-01T13:49:00.000-05:00

Source: http://www.vault.com

How about a career in a growth industry, with long-term security and well-defined performance metrics? Throw in immense intellectual challenges, the opportunity to work with some of the brightest minds and most powerful companies in the business world, and even the chance to climb to the top ranks of American executives. Oh, and let's add one of the best base salaries in the American workplace and consistent rankings in a variety of "best jobs in America" surveys.
Interested? Welcome to a career in actuarial science.

Once considered an esoteric niche for accountants at insurance companies, actuaries are now some of the most respected and essential employees in the corporate world. They wield a combination of solid mathematics and out-of-the-box thinking to assess risk and project outcomes for a variety of businesses. They are the wizards of the corporate world, and are increasingly used to determine the course of the future for numerous companies.

Most actuaries can be found at insurance companies, where they model the risks associated with paying out insurance premiums for a variety of unforeseen or unknowable events. They also help manage pensions, government entitlement programs and college endowments, which rely on future assumptions. And increasingly, they're being called upon to assess risk throughout the corporate world, from hedge fund investments to new product launches.

It's all about risk

Actuaries measure and manage financial risk through applied mathematics. It's a deceptively simple job description, but one with practically infinite variations. Stepping out in front of a moving car has very well-defined risks. Managing the risk of a life insurance policy covering two million people, all in different stages of life and with different health profiles, has a bit more to it.

But even the simple problems are deceptive. Let's revisit the risk of stepping out in front of a moving car. Certainly, there's a risk that the wayward pedestrian gets hit. But what if the driver swerves? Are there cars in the other lane? If so, what kind of cars? The difference between swerving into the path of a Toyota Camry and an 18-wheeler is profound. And what about the cars behind the car in front of which the pedestrian stepped out? What if the person hit by the car is thrown into the other lane? Or the sidewalk? As you can see, one simple (and admittedly macabre) action has a million possible outcomes, and a million possible risks involved. Of course, in this case, having the pedestrian not walk into the street mitigates all of those risk factors.

The above example consists of one variable - whether the pedestrian takes the wrong step off a curb. Now ponder how an actuary might manage risk within a life insurance company with two million policyholders. The life expectancy of one person takes into account hundreds of variables, including eating habits, smoking, drinking, where the person lives, what he or she does for a living, family life, number of children, pets, family history of illness and the list goes on. Then multiply that by two million, and finally ask yourself the big question: How much should each person pay each month so that the company can fulfill its payout obligations to each and every one of them at the end of their lives, whenever that might be?

Answering that question is at the very core of what actuaries do. Through advanced probability models and statistical analysis, actuaries make the assumptions needed to ensure that insurance policies, pensions and other financial programs meet their obligations and, ideally, make a profit for the companies running them."

Pre-Summer Trip Inspection Checklist

2007-05-01T13:24:00.000-05:00

Source: http://www.autorepair.ca.gov/stdpage.asp?body=/GenInfo/summerCarCareTips.htm

Consider a pre-trip inspection by a qualified technician before you leave. Repairs made on the road may be more costly, and disrupt your vacation plans.

Operationally, check the air conditioning, and inspect the belts and hoses. You may want to have a service professional inspect the entire system.

Inspect batteries and battery cables for corrosion, cracks and dirt. Hot weather can shorten a battery’s life, so have it tested if it’s near the end of its warranty. It’s a lot easier to replace a dying battery before a trip than replace a dead one on the side of the road.

Have a licensed brake adjuster inspect your brake pads and linings for wear.

Change the engine oil and filter according to the manufacturer’s service intervals and specifications. The service technician should also check the coolant, brake, automatic transmission, windshield wiper and power steering fluids.

Replace ragged wiper blades.

Check the air pressure in all tires, including the spare, to make sure they are properly inflated.
Uneven or excessive treadwear are signs that it may be time for rotation or even replacement.

Test your car’s interior and exterior lights, including turn signals and high beams, to make sure they work. This is also a good time to clean the lenses to get maximum visibility.

Change your car’s air filters according to the manufacturer’s service intervals and specifications.

A dirty air filter lowers gas mileage and reduces engine performance.

A service professional should inspect the radiator pressure cap, belts and hoses. Flush and refill the cooling system according to the manufacturer’s service intervals and specifications. This service should include replacement of the pressure cap.

Check engine light. Never leave on a long trip with your car’s “check engine light” or “malfunction indicator light” lit up. This light alerts you to a malfunction if it’s on while driving your car. If this light is on, have the problem diagnosed by a qualified technician before you leave.

Also extra for towing: Source: http://www.dmv.org/how-to-guides/summerize-car.php

Towing a boat, camper, or trailer is common in the summertime. Before you hook on and drive off for a vacation destination, though, make sure you have inspected your car and trailer.
There are legal and commonsense rules to follow when it comes to towing weight. Your vehicle is listed for a certain gross vehicle weight (GVW), which is the maximum weight for your car, trailer, and load.

Common sense will guide you on load distribution. You need to balance the weight between your axles and the tongue (hitch). Typically, only 9-11% of the weight is on the tongue. The load must balance on the trailer too―usually 60% in the front and 40% in the rear.

Whenever you are towing, it is a good idea to develop a pretrip inspection habit. Look over the brakes on your car and trailer. Are all the lights working properly? Carefully go over the hitch to be sure it is secure and has safety chains attached. After driving for a few hundred feet, you can pull over and check for any load shifting.

Summer is a fun and liberating season. By inspecting your vehicle's cooling system, tires, brakes, and air conditioning, you can expect a more pleasant, safe, and reliable warm weather driving experience.

Ready your Car for summer

2007-05-01T13:19:00.000-05:00

Window Tinting/Sunshades

Mitigate some of the effects of the sun by having your windows tinted. Check local state law to see how much tinting you are allowed. If window tinting isn't in your budget right now, then you can eliminate some of the heat by purchasing a windshield sunshade that you place on the inside of your windshield when you leave your car. This prevents the sun from beating on your dashboard and steering wheel. Dashboards don't like the sun or heat. If you don't cover them, they will fade and crack. Steering wheels, of course, get extremely hot, cause burns to the touch, and cause unsafe driving when you can't really grip the wheel. There are also removable side window screens, if you have passengers in the rear who want a little relief from the sun on long road trips.

Service Your Vehicle

In hot dry climates, cars need special care. Frequent oil changes and belt checks are a must. Batteries die faster than everyone thinks they will. Make sure fluids are full.

Source: http://www.dmv.org/how-to-guides/summerize-car.php

Beat the Heat

You car's cooling system is critical to your summer driving, with the primary job of keeping your engine cool (your engine can reach well over 200 degrees F). Your cooling system strives for a constant 200 degrees F to protect your engine against corrosion, provide more efficient fuel combustion, and maintain proper oil viscosity.

However, in hot weather, your coolant could reach 250 degrees F and your car could overheat. This is why your cooling system needs extra attention in the summer. But before you get under the hood, make sure your engine is cool―never remove a radiator cap when the engine is hot, or even warm.

To prepare your cooling system for summer, you'll want to check the radiator and hoses for leaks or cracks. Be sure all the connections are snug. The reservoir level should be half full and if it is low, add coolant or antifreeze.

Despite all your efforts to inspect the cooling system and keep your coolant levels up, your engine could still overheat. Keep an eye on the temperature gauge on your dashboard. If you see the engine getting too hot, you can take immediate action by turning on the heat―this pulls hot air off the engine block. Allow your engine time to cool down, because overheating can cause permanent damage to the engine.

Air Conditioning

Before your air conditioning quits cooling, you can inspect the system for worn or damaged belts. The belt on your air conditioner drives the compressor; without that, you won't get any air conditioning inside your car.

The air conditioner has a condenser that looks similar to a radiator. You can inspect the fins to be sure they are clear of debris. When air moves freely around the condenser, the refrigerant is able to do its cooling job better.

Summer Tread

You will get more speed, better handling, and better fuel efficiency if you mount summer tires on your car. In contrast to winter tires, summer tires have a shorter sidewall and a less-aggressive tread.

To change over to summer tires, you need to have a spare set of rims or bring the tires into a shop to be changed. All-season tires are a good alternative if you don't want to bother with specialized summer and winter tires.

Brake Check

If your summer weather pattern includes thunderstorms and rain, you will want to inspect your brakes because wet brakes can be less responsive. What you see when you look behind the tire and wheel depends on whether your car has disc or drum brakes. You might need some brake education; good resources are the owner's manual or your mechanic. Talk to the mechanic about how much braking you have left.

Also ask about the state of your brake pads. Hot weather can increase the temperature of your brake system, causing your pads to wear more quickly. You'll want to keep tabs on how worn yours are.

Items you Should Not Have in Your Car

2007-05-01T13:10:00.000-05:00

Think about it--does it make sense to buy a milk chocolate candy bar and leave it in your car in the heat? Believe me, no matter how smart we all think we are, at one time or another we've been dopey and left something we shouldn't have in the car. Hopefully, there wasn't a large cleaning bill as a result.

Milk and other dairy products.
Anything packaged under pressure, like hair spray or soda pop.
Tapes, CDs, or DVDs.
Sunscreen in a bottle. Buy little packets or towelettes.
Crayons, candy, gum, lipstick.
Credit cards or other cards with magnetic strips on plastic.
Cleaning solutions with alcohol or ammonia.
Anything that didn't have a decent smell before it reached 115 isn't going to smell any better after it's been left exposed in direct sunlight all day.
After shopping, check your trunk carefully to make sure nothing has fallen out of the grocery bags. You really don't want to find those eggs or that salami a week later.

Donor Advised Fund - Or Charity the EASY WAY!

2007-04-16T10:12:00.000-05:00

Okay. Say you want to give money and want to limit the administrative hassle of giving. The correct vehicle for most people is the Donor Advised Fund. Sometimes donors just like to give money for a good cause. However, what about how to report it. That's the worst part is figuring out donations. Attempting to follow IRS rules consumes time and money. For example, you have to incorporate for charities and get CPAs. By the time you are done it can cost $2000/year just in Admin.

So why is this vehicle available for the little guy? Despite well-publicized grants from the Bill & Melinda Gates Foundation or other nonprofit institutions, an overwhelming share of charitable contributions comes from individuals. According to Giving USA, a nonprofit organization that tracks charitable donations:

$260 billion Americans donated in 2005:
INDIVIDUALS accounted for 76.5 % of the more than .
Philanthropic foundations gave 11.5%,
and corporations contributed a mere 5.3%. - Source: United Hemispheres

Benefits:

Low Cost - $100/year for smaller accounts.
Also you can start small. Minimum opening balance $5000 and then $1000/yr thereafter.
Easy-to-establish in one day. Most companies offering mutual funds offer DAFs. (example: Fidelity Charitable Gift Fund - (http://www.charitablegift.org/charity-giving-programs/overview.shtml)
You can choose to be anonymous. This is more important than you think. (There are 62,000 individuals who have private foundations—and, by law, those foundations’ tax information is available to the public on an easily accessible Web site.) - So you will then get bombarded with solicitations. Many people are annoyed by that. DAF structure allows you to stay anonymous.

Tax benefits/Implications:

Make tax-deductible contributions to the a fund and support multiple giving goals.
Potentially reduce federal estate taxes for your heirs (beneficiaries can be anyone aka scholarship for a great grandkid) - this works by reducing your assets when you put it into the fund. Do get a professional advisor if you plan to use a DAF for this.
DAFs offer a defense against taxable events, such as selling a company or a piece of property or, more commonly, off-loading highly appreciated securities
DAFs also can provide a tax-smart stash for future donation dollars. -"contribute now, distribute later” strategy is especially useful to people approaching retirement.
DAFs also can become a tool to teach giving to others. Grandparents can open a fund for their grandchildren that reduces the size of their estate, provides a tax deduction, and offers an opportunity for their grandchildren to get into the habit of giving. And when funding a DAF, grandparents aren’t restricted by the $11,000 per grandchild limit.

Who can you donate to?

DAF money may be distributed to any of the more than 1.4 million charities recognized by the Internal Revenue Service EXCEPTION: Political action committees (PACs) and fraternal organizations
However, you can add in designated “field of interest” funds—those that support a group of organizations dedicated to disaster relief, for example, or eradicating hunger or homelessness—and the choice is, Wright-Violich notes, “fairly limitless.”

Examples:

Provide seed money for technology projects in high schools
Donors can support causes as large as the fight to cure multiple sclerosis and as specialized as an organization that maintains local softball fields.
U.S. troops overseas were able to call their families because of a donor’s recommendation to fund a New York–based “phone home” program.
An estuary in Maine benefited from a donor’s decision to help preserve New England’s most important waterfowl-concentration area.
California children are learning their do-re-mis thanks to a grant supporting state music education programs.
Many families pool the money earmarked for charity in one DAF and have an annual meeting to decide how to allocate it. Some families even set up Web sites and solicit grant requests. (My plan is to turn it into a Christmas Tradition at my house)

Student Loan Interest 1098E

2007-04-12T08:52:00.000-05:00

You might be able to deduct up to $2,500 of the interest you paid on a student loan last year. This deduction will help reduce your taxable income, possibly giving you a smaller tax bill.

As with many other tax breaks, the IRS limits the student loan interest deduction if you make over a certain amount.

The phase-out range amounts are adjusted annually for inflation. For 2006 tax returns, the amount of your student loan interest deduction is gradually reduced if you are a single, head of household, or qualifying widow or widower filer with adjusted gross income between $50,000 and $65,000. The income phase-out range for married couples filing jointly is $105,000 to $135,000.

Once you go over the filing range for your status, you cannot take any deduction for your student-loan interest.

Filing requirements: You don't have to itemize deductions to get this break, but it's not available to Form 1040EZ filers. You must use either Form 1040A (line 18) or Form 1040 (line 33) to take advantage of this deduction.

Childcare costs in Baltimore

2007-04-10T12:27:00.000-05:00

The cost of living in Baltimore really hits the single mom I think who has to work and have kids. One of my friends is working 2 jobs to make ends meet.

One kid's cost for Baltimore daycare = $1200
After potty training etc... = $800

That's a significant expense.

"Depending on where you live and on the quality of the daycare, costs can range from $3,000 to $15,000 a year (or $250 to $1,250 monthly)." - I am not sure why Baltimore is at the top end..but this is clearly creating a situation not conducive to families.

Electricity

2007-04-10T12:24:00.000-05:00

Shifting from the Midwest to East Coast is an expensive proposition.

One of the things that has shocked me the electricity and utility issues for Maryland.

www.baltimoresun.com/electricshock

I am tracking electricity and what to do through that website.

Taxes on Gambling Winnings

2007-04-10T12:11:00.000-05:00

Some things to know about gambling winnings. It IS Taxable even if it is winnings from a charity related Church raffle!

Include winnings from lotteries, raffles, sweepstakes, and proceeds from wagers.
Gambling winnings from charity-sponsored events are also includable in gross income

It is reported on line 21 (other income) of the 1040. You report your gross winnings and only subtract the cost of placing the bet. YOU CANNOT NET WINNINGS AND LOSSES.

Now if you have a gambling loss, you can claim that also possibly on your schedule A of Itemized Deductions, but you can only claim as much loss as your winnings.

Average Health Cost of a Couple in Retirement: $215,000

2007-04-09T12:21:00.000-05:00

According to a recent study from Fidelity Investments, an average couple of 65-year-olds retiring in 2007 will need $215,000 to cover healthcare costs for the duration of their retirement. Fidelity re-calculates their estimate each year and the latest numbers suggest that retirees’ healthcare costs have risen 7.5% in the last year and 34% since 2002. The increases suggest that America’s seniors are spending an ever-increasing portion of their disposable income on healthcare, with costs rising at more than twice the rate of inflation.

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The graphs show that the 33% is from Out-of-pocket expenditures for prescription drugs .

It includes Medicare Part B and D premiums, which Fidelity suggests comprise 32% of the total estimate.

Deductibles, co-payments, co-insurance and excluded benefits account for the remaining 38%.

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Assumptions are:

The retired couple does not have employer-sponsored healthcare coverage--and luxury few retirees now enjoy—nor does the estimate include other pricey health-related costs such as long-term-care needs, dental services and over-the-counter medications.

BENJAMIN FRANKLIN and CPAs

2007-04-05T08:37:00.001-05:00

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Chances are good that, if you don't know who to attribute a quote to, Benjamin Franklin will do. Even though Benjamin Franklin lived prior to the 16th Amendment and the Internal Revenue Code, he had it right.

Let's just peek at a few quotes and see what he was telling us about the world of taxation.In Advice to a Young Tradesman in 1748 he said, "Remember that time is money."

Now that is an interesting one. What does it mean? Well, let's start. This time of year, the airwaves are filled with advertisements telling you to fire your accountant, buy tax software, and do taxes on your own. Yes, they say, you can do it. Well, to be honest, if I can do it, you can do it. But remember that time is money. You need time to study. You need time to learn. You need time to practice.

In an old Jack Benny sketch, Jack is being held up and the criminal says, "Your money or your life!" and Jack Benny says, "I'm thinking it over!" Time is money and money is life and therefore, time is life.

Another Franklin quote explains why you should use a tax professional. From Poor Richard's Almanac, December 1743: "Experience keeps a dear school, yet fools learn in no other."

Remember, CPAs do this for a living; experience counts. It may look easy but, trust me, it is dangerous work. Don't try this at home.

The other clear meaning of time is money is regarding retirement planning. Remember to fund your IRA for 2006 prior to the filing due date of April 17, 2007. Remember to fund your 2007 IRA as soon as possible. Discuss with me whether you should fund a Regular IRA or a ROTH IRA. Look into the possibility of a SEP. Speak to me about your 401(k). Time is money. The more time you have your money invested in a tax-deferred account, or completely tax free account, the larger it grows. Time is money.

A third quote, also from Poor Richard's Almanac: "Dost thou love life? Then do not squander time, for that's the stuff life is made of."

It seems that Benjamin Franklin here is functioning as cosmologist, having found the essence of the universe. As April comes and goes, do not think that this is the end of tax season, for it is just the beginning. Tax law is in a constant state of flux, and far be it for me to predict the future, but A CPA stays current on new laws and can advise you on the early side about the changes, so that you can act appropriately.

Recently Congress has passed some laws that are effective for just one year. For example, some people can deduct mortgage insurance for 2007 but only for 2007, not for 2006 and not for 2008. Don't pay attention only in April. If you only pay attention in April, you could be an April Fool!

Formula for getting a PROMOTION!

2007-04-04T08:52:00.000-05:00

I loved this..saw this on another blog. http://thenewbusinessworld.blogspot.com/2007/01/simple-skills-to-get-promotion-at-work.html

40% competence and skill + 40% confidence + 20% who you know = 100% pomotion

Competence and skill is your ability to know the type you are working and have the ability to do that job well. The ultimate goal is to have others in the organization know that you are good at what you do and respect your opinion about the particular field you are engaged in.

Confidence is a very critical part of receiving a promotion. If you don’t believe that you can get the promotion chances are no one is going to offer it. Confidence must be shown in your communication with others and with your personal abilities. Competence is not “cockiness”.

Funny after all this serious career stuff

2007-04-04T08:44:00.000-05:00

http://www.dealbreaker.com/2007/03/the_big_rip_off.php

Okay I know accountants don't have a great reputation for a sense of humor.

I assure you we have one. It's just a tad on the Geek side! (:

This website looks at marriage valuations. Source - NY times Style section.

Enjoy!! I did.

The Best Accountant for the Little Guy doing his Taxes

2007-04-04T08:32:00.000-05:00

Okay. First thing is most people google for a tax preparer or go to the yellow pages. Best way by far is ask around and find out who the people at work, your friends, church members go to get their taxes done. If you here a name more often (other than the national chains), it's a good bet that's a well established CPA. Or you can contact the local Chamber of Commerce or the American Institute of Certified Public Accountants (AICPA) for referrals.

Now once you get a list of local CPAs, then you can set up some time to do some shopping. Phone interviews etc..are sufficient or for peace of mind you can drop in for a quick visit.

Here are the questions to ask.

1.) Find out their level of experience: It's better at this stage that you find an accountant who has had clients with your background. If you do a business on the side, self-employed, or are a consultant in multiple states, have foreign income..etc.. be sure they can have enough experiences to take care of that. Also make sure they have some personal finance background to help you decide what to do for your kids college education, help your kids file taxes too if they have a summer job, get you thinking about your retirement. It's better to have one stop shopping for the average individual.

2.) Charges: What do they charge and what is covered in the fees?

3.) Personnel: Who will be doing your taxes? Will it be a junior or a CPA? Very important question to ask for the more complex filers. It's okay to have junior doing simple 1040s and even a multi-state return..but if there are more complexities you want to be sure you have a good CPA at least spending 15-20 minutes reviewing junior's work.

4.) Services: Do they offer year round service? Do they do e-file? Will the offer protection against audit? Will they give you a loan on your tax return? General other questions.

How to find a good accountant for a Small Businessman or woman?

2007-04-04T08:28:00.000-05:00

Source: How To Find a Good Accountant
From Darrell Zahorsky,Your Guide to Small Business Information.

Many business owners often ask how do they find a good accountant. So here's a step-by-step guide to selecting and finding a good accountant.

Difficulty: Average

Time Required: 1-2 weeks

Here's How:

1. Build a Referral List:

Find at least five accountants by contacting your financial planner, banker, insurance agent, & industry association. Talk with business owners in your industry that you do not compete with directly. Or you can contact the local Chamber of Commerce or the American Institute of Certified Public Accountants (AICPA) for referrals.

2. List Contact:

Call the five accountants on your list and ask to discuss their services. Find out the firm's size, their experience in your industry and educational background. Ask them to send information on their billing policies and fees.

3. Select Three Best Candidates for Personal Meeting:

Choose the accountants that responded promptly to your request and that had an understanding of your business and have fees within your budget.

4. Final Interview:

Find out if they will work directly on your account or if it is handled by an employee. Will they advise you on an audit, your ownership structure, and provide assistance with analysis of your financial statements?

5. Final Selection:

Base your selection on the best answers to your questions and the fact that they have other services to grow with your business or meet upcoming challenges. Are they approachable and professional enough for you?

Tips:
An accountant should be more than a simple tax preparer. You need their advice and guidance in steering your business now and in the upcoming year.

This advice holds too even for the typical guy filing an easy 1040EZ. My advice is to find a competant CPA who also has experience with the little guy and can recommend some tax and financial planning. That's where you get bang for your bucks!

Speaking of other professions, what about great accountants

2007-04-04T08:08:00.000-05:00

Now, that we have talked about the medical, legal, even auto mechanics....professions..what about accountants.

What are the risks of a incompetent accountant or dishonesty in filing your taxes?

"WASHINGTON - The government said Tuesday it is trying to shut down more than 125 Jackson Hewitt tax preparation stores in four states for systematic “tax-fraud schemes.”
The Justice Department accuses the franchises of bilking the government out of more than $70 million through fraudulent practices such as using phony W-2 forms, bogus deductions and fuel tax credits and false claims regarding the earned income tax credit."...........

Rest of the article - http://www.msnbc.msn.com/id/17935250/ is running an article on Jackson Hewitt tax preparers. They are the second largest tax preparation service after HR Block.
These businesses run like franchises so even though it is national, it's really locally responsible. I certainly don't believe that the national chain is doing a good job of managing their quality control. Altogether with fraudulent preparations, they bilked the US government of $70 million. Sure they got refunds for their customers, but I will tell you these customers now have to pay back taxes owed and interest and penalties too!!!

What about H&R Block? http://wcbs880.com/pages/33296.php?contentType=4&contentId=138726 Catch this article where Mr. Elliott Spitzer (Attorney General for NYC)

"ALBANY (AP) -- New York Attorney General Eliot Spitzer on Monday said he has evidence that H&R Block executives not only knew they were pushing customers to buy money-losing retirement account plans, but penalized employees who refused to recommend them."

I question the ethics of this company. That's all I have to say. Most of their preparers have minimal training and most are not even accountants (aka 4 year college degree with Bachelors degree with accounting). So you definitely taking a risk not knowing the quality of education of your tax preparer.

Then of course there is the security of your most important information.

In January 2006...."Some consumers may be dismayed to find their Social Security numbers printed on unsolicited packages from H&R Block, the result of a recent labeling blunder at the company. " http://netscape.com.com/H38R+Block+blunder+exposes+consumer+data/2100-1029_3-6016720.html

I have saved the best for last...

http://www.fool.com/investing/value/2006/02/24/hampr-blockheads.aspx - H& R BlockHeads truly!!!

"What then is a taxpayer supposed to think when the leading tax return prep company admits to understating its own taxes, thus causing a restatement of earnings going back as far as 2004?"

Sad when the leading tax preparer screwed up its OWN TAXES!!!

So what's a person to do? How does one select a great accountant..that will be in my next post!!

Finding a great lawyer too!

2007-04-03T13:23:00.000-05:00

Finding a lawyer is another confusing and scary process. If your issue is serious, you might not want to approach co-workers or friends for recommendations.

FindLaw (http://www.findlaw.com/) and Martindale-Hubbell (http://www.lawyers.com/) provide extensive information on law firms and individual lawyers. You can search by area of expertise, location or by name. The sites provide location, Web site and contact information.
The sites also provide more extensive information, such as educational background, practice areas, and associations to which a lawyer belongs.

Once you find a lawyer who meets your needs, the American Bar Association suggests you check for disciplinary action before hiring. Disciplinary action could mean disbarment, suspending or limiting a lawyer's right to practice law, or other disciplinary actions. The ABA Web site links to each state agency for this information (www.abanet.org/cpr/regulation/scpd/disciplinary.html)

How to research your physician before you trust him with yourself.

2007-04-03T13:21:00.000-05:00

1. American Medical Association's (http://www.ama-assn.org/) DoctorFinder.

It provides basic information about nearly 700,000 doctors in the United States. It lists both members and nonmembers of the AMA. According to the AMA, members promise to follow the highest ethical standards.

Your state's medical board probably has more detailed information. Some states, such as California, Connecticut and New York, require physicians to disclose disciplinary action or outcomes of malpractice suits.

Each state has its own medical board. Some are independent, while others belong to a larger group, such as a department of health. However, all belong to the national Federation of State Medical Boards (www.fsmb.org).

The Federation of State Medical Boards runs a disciplinary history reporting service called Doc- Info (http://www.docinfo.org/). It claims to have recorded 156,000 disciplinary actions related to about 46,000 doctors dating to the 1960s. It charges $10 per doctor's report.

But disciplinary reports are free from state medical boards. You can search individual Web sites, but that's a hassle. Try the Administrators in Medicine's (http://www.docboard.org/) database. Enter the last name (and first name, to narrow the search) of a doctor.

Not every state is included in the database. However, the site provides links to medical boards of states not listed.

It can be as important to check out a hospital as a doctor.
HealthGrades (http://www.healthgrades.com/) provides a free hospital rating.

Tax Planning for 2007

2007-04-02T09:35:00.000-05:00

Okay. Maryland 6-8% tax sucks. So I am going to have a couple of ideas of how I can reduce my income.

Earnings are tax-free when used toward eligible college expenses. You can deduct up to $2,500 of contributions each year from Maryland income per account. Contributions in excess of $2,500 per account can be deducted in future years until full amount of payments has been deducted. Earnings are federally tax-free when used toward eligible college expenses through 2010.

If I find any other ways to keep MD's arms from the money shall be posting.

Indians and Their Economics...

2007-03-29T14:46:00.000-05:00

Just read this article while surfing on wikipedia. Learnt some interesting facts about my ethnic group!!!

Just wanted to share...

According to the 2000 U.S. Census Indian Americans have the highest median income of any national origin group in the United States. ($60,093), and Merrill Lynch recently revealed that there are nearly 200,000 Indian American millionaires.

One in every nine Indians in the United States is a millionaire, comprising 10% of U.S. millionaires. (Source: 2003 Merrill Lynch SA Market Study). This affluence has been matched by a high degree of educational attainment.

Indian Americans own 50% of all economy lodges and 35% of all hotels in the United States, which have a combined market value of almost $40 billion. (Source: Little India Magazine).

A University of California, Berkeley, study reported that one-third of the engineers in Silicon Valley are of Indian descent, while 7% of valley high-tech firms are led by Indian CEOs. (Source: Silicon India Readership Survey)

According to Technology Review 35, the technical journal of the Massachusetts Institute of Technology, "while the Indian-American population is less than one per cent in the United States, the contribution of the community is to the extent of almost 17 percent" [10].

In 2002, there were over 223,000 Asian Indian-owned firms in the U.S., employing more than 610,000 workers, and generating more than $88 billion in revenue.[11]

Market Volatility

2007-03-19T13:45:00.000-05:00

Can't claim to be a huge expert on stocks and bonds specifically. However, just thought this being a personal finance blog would point to some sources for others.

Given the volatility the last few weeks, some money has been lost.

I am sticking to my strategy of broad based mutual funds to weather what I anticipate will be a couple of tough years. With the political environment, war in Iraq, global warming, disasters, price of oil, and other events likely to give some price shocks to the American economy...what to invest in?

I would stay invested in energy/blue chips (maybe pick it up with options if it goes below a certain price - determined by research in that sector/company) and try to pick up some more broad based ETFs or mutual funds.

Some good choices can be had....http://www.forbes.com/lists/2006/42/0107funds_Mutual-Fund-Survey_land.html

I liked this survey and found it useful for first time or later investor

Turning off Telemarketing

2007-03-09T13:55:00.000-05:00

SOURCE: http://www.oag.state.md.us/Consumer/edge96.htm

1. Keep your phone number to yourself. Don't put your phone numbers on forms, or give it to businesses, unless absolutely necessary. Whenever you give a business your number, ask that they not share it with other companies. Don't print your phone number on your checks.

2. Register with the National Do Not Call Registry. The Federal Government created this national registry. Call toll-free 1-888-382-1222 (TTY 1-866-290-4236) from the number you wish to register. You can also register online at http://www.donotcall.gov/ if you have an active e-mail address. Registration is free. Your number will stay in the registry for five years, until it is disconnected, or until you delete it from the registry. After five years, you may renew your registration. You can expect fewer calls within three months of the date you sign up for the registry.

Placing your number on the National Do Not Call Registry will stop most telemarketing calls, but not all. You may still receive calls from political organizations, charities, telephone surveyors, and companies with which you have an existing business relationship. A company with which you have an established business relationship may call you for up to 18 months after your last purchase or delivery from it, or your last payment to it, unless you ask the company not to call again. Also, if you make an inquiry to a company or submit an application to it, for three months afterwards the company can call you. If you make a specific request to that company not to call you, however, then the company may not call you.

3. Ask to be put on individual companies' "do not call" lists. When you get a telemarketing call, if you just hang up or say "I'm not interested," the company may call back at another time. Instead, every time you get a telemarketing call, say "Put me on your ‘do not call' list." The Federal Telephone Consumer Protection Act of 1991 requires companies to keep this list. Your request must be honored for 10 years. Exception: nonprofit organizations do not have to comply with this law.

4. Get an unlisted number. Getting an unlisted number can cut down on telemarketing calls. It will not prevent calls from companies that dial numbers in sequential order by computer.

5. Be aware that phone technology allows companies to see and "capture" the numbers of callers. Some companies add the numbers to a marketing list. At no cost, you can block your number from being displayed by dialing *67 and waiting for a dial tone before making a call. However, this "per call blocking" does not work when calling 800 or 900 numbers. Your only alternative is to use a pay phone when dialing those numbers.

6. Screen calls and hang up on auto-dialers. If all else fails, you can avoid having to talk with telemarketers by using an answering machine to "screen"your calls befor eyou decide to pick up. Many telemarketers hang up if they reach a machine. Also, learn to recognize the sounds of an auto-dialer: you answer your phone and there is a pause. If you don't want to be connected to a sales representative, just hang up. Different people find different ways of dealing with telemarketers. For example, you may be content to avoid sales discussions by hanging up on auto-dialers. Another person may be so annoyed that he will stay on the line in order to tell the caller he wants to be put on the company's "do not call" list.

Blocking Junk Mail

2007-03-09T13:53:00.000-05:00

SOURCE: http://www.oag.state.md.us/Consumer/edge96.htm

1. Register with the Direct Marketing Association's Mail Preference Service. You can get off many national mailing lists this way. Your name will remain on this "delete file" for five years. Send your name and address to: DMA Mail Preference Service, P.O. Box 643, Carmel, NY 10512.

2. Tell the credit reporting agencies that you don't want to receive pre-approved offers of credit. Those credit card offers that come in the mail are from companies who get your name and address from one of the credit reporting agencies. You can tell all three of the major credit reporting agencies–Equifax, Experian and TransUnion–to remove your name from their mailing list by calling one toll-free number, 1-888-5-OPT-OUT. Your request will be honored for two years.

3. Tell magazines and charities that you don't want them to share your name and address with other businesses or charities. Contact magazines to which you subscribe and charities to which you donate. Request the same from mail order companies you order from and cancel catalogs you don't use.

4. Read the privacy policies of your credit cards and banks. The policies must give you an "opt-out" option, by which you can tell the bank not to share your personal information with other companies. The bank may still be allowed to share your information with "affiliate" companies it has a relationship with.

5. Ask your local phone company to not publish your address. Mailing list companies compile names and addresses from residential phone book listings. Consider having an unlisted number, or ask your local phone company to publish just your name and telephone number, without an address. Ask the phone company to remove your listing from its street address directory.

6. Think twice before entering sweepstakes and drawings. The main purpose of many contests is to compile mailing lists. If you enter one contest, you are likely to receive mailings from other contests. Avoid entering sweepstakes unless you can "opt-out" of being put on a mailing list (read the contest rules).

7. Don't fill out warranty or product registration cards. Most cards are used to compile information on consumers that is sold to companies for marketing purposes. Most times your receipt will ensure that you are covered by the product warranty if the item turns out to be defective. If you decide to send in the card, don't fill out the "lifestyle" information, such as your income or hobbies.

8. Send it back. Junk mail that arrives in envelopes stamped "Address Correction Requested" or "Return Postage Guaranteed" can be returned unopened by writing "Refused–Return to Sender" on the envelope. This may encourage the company that mailed it to you to remove you from its mailing list.

American Teenagers Work Facts

2007-03-08T09:07:00.000-05:00

Usually we hear so much negativity about American Teens. This information is from the vault.com on employment citing NYtimes article.

American teens work late, long and in dangerU.S. youngsters aged 14 to 18 who work at retail and service jobs during the school year put in an average of 16 hours a week, often at jobs that are dangerous and unsupervised, a study said. Some of the working conditions found in interviews with a representative sample of 928 teenage workers violated federal law. The research found the teens worked an average of 16.2 hours per week during the school year, including nearly three times a week after 7 p.m. on school nights. Thirty-seven percent of those under 16 reported working after 7 p.m. on a school night, a probable violation of federal law.

Teenage unemployment rate is at a really high level recently. Only 36.7% of all teens ARE employed. It is a historical low for the country since WW2. Many teens are available to work, but the jobs are not available for many reasons.

Childcare, nannies, and the IRS

2007-03-05T11:00:00.000-05:00

I have a friend who recently had a small child and is confronted with childcare costs and issues. I think in the next few posts, I will be posting more information on that. The article below is on nannies. This article was gleaned from Steve Bruhn's March 2007 CPA newsletter.

NANNY TAX IS FOR MORE THAN JUST NANNY'S
====================================================

It's been a while since Nanny Gate made the national news but it still comes back and haunts public figures. Just this past summer one of President Bush's recommended candidates for public office chose not to be considered because he had hired an undocumented household employee.

However, there is more to this issue than just undocumented workers; there are also social security and medicare tax issues.Who is subject to the "nanny tax"?The "nanny tax" actually applies to any individual who may do work in or around your house unless that person qualifies as an independent contractor.

A plumber is an example of an independent contractor. Plumbers may work in your house but they also work in the houses of other people, and they are not generally under your control as to how or when they complete the work. Accordingly they would not be subject to the so called nanny tax.

Who qualifies as a household employee? Babysitters, housekeepers, nannies, private nurses and health aides qualify to name a few. If any of these do work in your household, you provide the tools or supplies, and you can direct when and how the work is to be done, then that worker is probably an employee subject to the taxes.

What are your requirements?The taxes you may be responsible for consist of social security and medicare taxes, similar to what comes out of an employee's paycheck and federal and state unemployment taxes which the employer pays. The social security and medicare tax applies if you pay a household employee wages of $1,500 or more in a calendar year.

As soon as you hit the $1,500 threshold you are subject to the tax. This does not mean that the first $1,500 is exempt from the social security and medicare taxes. Rather it means that once you hit the $1,500 mark it all becomes taxable, even the first dollar. In addition, you are required to either withhold society security and medicare taxes from the amounts paid to the worker or pay it for them.

As an employer you are required to have each household worker fill out a federal form I-9 Employment Eligibility Verification which you must keep on file. This form has a check list of documentation forms that you should look at to verify that the worker is authorized to work in the United States. This form can be obtained from the IRS web site at www.irs.gov or at the US Citizenship and Immigration Services web site at www.uscis.gov. This is very important, you can be help liable for improperly employing illegals and with the crackdown on employers recently, the onus is on YOU.

You will also have to obtain a federal employer identification number by filing federal form SS-4, which can also be filed on-line at the IRS web site.You are not required to withhold federal or state income tax from the workers wages unless the household employee requests it. In addition, you can pay that portion of the employees social security and medicare tax instead of withholding it from the employee. If you do that, this matching amount is taxable income and must be included on the employees W2.

How is this tax paid?

When you file your federal income tax return Form 1040, you will also need to file a schedule H - Household Employers with that return, reporting the amount of wages paid, the taxes withheld and the social security and medicare taxes that are due. These taxes are then paid with your tax return. You may need to increase your withholding or your estimated tax payments to cover these additional taxes so that you do not get an underpayment penalty"

There are exemptions to the nanny tax for services paid to family members and those under the age of 18. You may also have to file state unemployment forms and you will need to issue all qualified employees a W2 form in January so that they can file their tax returns.

Winterize Your Car

2007-03-01T14:57:00.000-05:00

From the Good Housekeeping Research Institute: easy ways to avoid snow and ice catastrophes

De-Ice Windshields

New windshield-wiper fluids contain an additive that helps melt ice so you won't have to
scrape in the bitter cold. Mr. Clean Windshield Wash and De-icer ($2.99 for one gallon) melted ice faster and more completely than other brands we tested. For even better results, give your windshield a good coating of Prestone's Ice & Frost Shield ($4.99 for 32 ounces), which prevents a heavy buildup of ice and snow. In our evaluation, treated surfaces needed just one swipe to come clean.For windows that don't have wipers, use the 10-inch Hoppy Ice Chisel Scraper ($2.49). The insulated handle is comfortable and makes it a cinch to apply force.

Use the Right Antifreeze Mix

Your engine needs to be cooled, even in the winter. So it requires water, which on frigid days can turn to ice and leave you stranded on the side of the road. That's where antifreeze comes in. The recommended balance for optimal functioning: a 50-50 combination of water and antifreeze, even in temperatures as low as 34 degrees below zero. If you'd rather not do the blending yourself, try a premixed formula such as Prestone's 50/50 Prediluted Extended Life Antifreeze/Coolant (about $7 for one gallon).

Check the Tires

Worn-down tires increase the risk of winter skids and hydroplaning. Tire treads should have a minimum of 5/32 of an inch depth in the grooves. To check, put an upside-down penny in several treads. The rubber should cover Lincoln's hairline. If the tread doesn't get that far, the tire may not perform well when you're driving in snowy conditions.

Fix Frozen Locks Fast

If you have a car with a traditional lock, ice blockage can be a problem. Stash a can of aerosol Victor Lock De-Icer & Lubricant ($1.99 for two cans) in your home or office ‑- of the brands we tested, Victor performed best.

Prepare for Emergencies

You could get stuck, so carry a flashlight, jumper cables, a shovel and sand or kitty litter for traction.

Tax Lowdown

2007-03-01T09:53:00.000-05:00

Okay kiddies...as if tax time is not tough enough, now Congress is making it a bit more complex this year.

1. APR 15 falls on Sunday..so this year tax due is APRIL 17th (woohoo) 2 extra days for all those procrastinators!!!

Also means you have 2 extra days to make your contribution for 2006 into your retirement. I anticipate the next couple years to be a little more volatile than we have been use in the last couple years...so cash and lifecycle funds are where I am tying up my stuff and a few blue chip stocks. Good time to buy a couple keepers as they dipped in price recently.

2. Telephone Tax Refund - The IRS (Telephone Excise Tax Refund) is refunding money the government collected through the federal telephone excise tax paid by telephone service customers from February 28, 2003, through August 1, 2006. You can figure out much you actually paid during that time, or you can claim a standard refund based on the number of personal exemptions you claim (from $30 to $60). There's been some abuse so it does flag you for audit if you calculate it. It's way down on line 71 so don't forget it!!! It's only for 3 years unfortunately though for multiple lines it can be a nice pocket change.

3. For those environmental...on the note of the OSCARS...you can also win with the IRS - don't have to be Al Gore! Claim tax credits for energy-efficient home improvements, such as insulation, exterior windows and doors, and some water heaters. Even if you weren't planning to claim the credit when you put in the improvements last year, you still might qualify for the tax credit if your items meet certain efficiency standards. A credit is also for home-energy related to solar power/ fuel cells. Learn more at (energy-efficient tax breaks).

4. Extra Deductions: All these three deductions must be claimed on Form 1040; Form 1040A cannot be used. Here's how they should be claimed on paper tax returns per the IRS.

State and local sales tax deduction.

The provision allowing taxpayers to deduct state and local sales tax—instead of state and local income taxes—has been popular among taxpayers in states without an income tax. Even some taxpayers in states with low income taxes and high sales taxes have found it beneficial. But to deduct sales taxes this year, you'll have to make the notation "ST" on the dotted line to the left of Line 5 (State and local income taxes) of Schedule A. See the IRS 2006 Publication 600 for state and local sales tax tables, a worksheet, and instructions for calculating the deduction.

Higher-education tuition and fees deduction.

Many taxpayers have utilized this deduction for two reasons: You may be able to deduct qualified tuition and related expenses of up to $4,000 that you pay for yourself, your spouse, or a dependent; and you don't have to itemize to claim it. However, it must be coordinated with the Hope Scholarship Credit and the Lifetime Learning Credit. Individuals with a modified AGI of $65,000 to $80,000, and jointly filing couples with a modified AGI of $130,000 to $160,000, can claim only $2,000. Taxpayers above these levels are ineligible. This deduction is claimed on Form 1040, line 35, "Domestic production activities deduction." Enter "T" in the blank space to the left of that line entry if claiming the tuition and fees deduction, or "B" if claiming both a deduction for domestic production activities and the deduction for tuition and fees. If you enter B, you must attach a breakdown showing the amounts claimed for each deduction.

Educator expense deduction.

If you're a K through 12 teacher, aide, instructor, counselor, or principal, who works at least 900 hours during the school year, you may be able to claim a deduction of up to $250 for qualified classroom supplies you paid for out of pocket and were not reimbursed for. It is claimed on Form 1040, line 23, "Archer MSA Deduction." Enter "E" on the dotted line to the left of that line entry if claiming educator expenses, or "B" if claiming both an Archer MSA Deduction and the deduction for educator expenses on Form 1040. If you enter a "B," you must attach a breakdown showing the amounts claimed for each deduction.

Source: Fidelity E-New February 2007

Tax Prep Targeted to Collegiates

2007-02-08T09:41:00.000-05:00

For all you college students,

http://www.campustaxes.com is a great resource. Inexpensive and a CPA mans its. One of AccountingWeb's contributors actually.

I checked it out. It is easy to navigate and simplifies.

2006 Tax year Telephone Credit

2007-01-31T10:11:00.000-05:00

There is a credit going back for fees that you overpaid the telephone company. Rather than researching out your old telephone bills for last 3 years (due to statute of limitations fees are limited)

You can find the methods for the simple and complex version at IRS's website:http://www.irs.gov/newsroom/article/0,,id=164032,00.html

I would go with the simple version.

Changes to HSA

2007-01-23T08:46:00.000-05:00

Source - http://www.accountingweb.com/cgi-bin/item.cgi?id=103039

Changes to HSA contributions for 2007 include:

1. Contributions are no longer limited to the lesser of the deductible or the Treasury Cap. Everyone can contribute the Treasury Cap Limit and this applies to both new and existing accounts.

2. The 2007 Treasury Cap is $2850 for individuals and$5650 for families. (indexed annually)

3. Anyone who is 55 years or older anytime in 2007 may contribute an extra $800 as a catch-up contribution.

4. As of now, no matter when during the year you get the qualified insurance, you are eligible to contribute the Full Treasury Cap listed above with no more pro-rating of contributions.

5. There is no more pro-rating of catch-up contributions. Same rules as above apply.

What does this mean?

The Health Opportunity Patient Empowerment Act of 2006, part of the Tax Relief and Health Care Act of 2006, provides new opportunities for those who participate in Health Savings Accounts (HSA) to build their account funds.

So if you participate in these plans, the good news just got better. The website advises people to contribute first to the HSA before even a retirement plans as these funds can always be accessible for qualified healthcare costs for the individual and their dependants. The individual can increase costs all the way up to the Treasury cap.

What is a Health Savings Account (“HSA”)?

A Health Savings Account is an alternative to traditional health insurance; it is a savings product that offers a different way for consumers to pay for their health care. HSAs enable you to pay for current health expenses and save for future qualified medical and retiree health expenses on a tax-free basis.

For further info - visit the original site I snagged this from - http://www.ustreas.gov/offices/public-affairs/hsa/faq_basics.shtml

ING is offering 3% internet based paperless checking account

2007-01-05T11:04:00.000-05:00

Yesterday in my email box I got an invite for ING's Orange Direct banking company to try their new Orange Checking account. It's paperless! Now how does that work? Isn't the purpose of a checking account to well write checks - you might ask me. Well you can at no extra charge (beats paying money for Bank of America checks) get it mailed first class delivery. You have an option to overnight if required for $15.

How to access your money?

They use 32K ATM around the country. The alllink network. They have a debit mastercard that can be used at any merchant aka Walmart -with no fees.

You can link to other bank accounts if you can't wait to transfer money.

Best part - the interest rate is 3%.

It goes up to 5% for those of us with deposits over $100K.

Since we are not quite there - we will take the 3%

They also offer overdraft protection free as a line of credit for 1000 bucks when you sign up. It's not a choice though. So it will be a hard credit enquiry when you open the account. I think currently it's invitation only but will be rolled out to other customers soon.

I think I will from now on only put 10% of my paycheck incoming to direct deposit in bank of america in future. This allows me to access my money in Maryland (where there's lot of bank of america banks) and deposit checks quickly. But from now on BofA has lost my checking business really. I am not going to write any more checks from them. As they already lost my savings business to E-Loan (5.38% interest), I can only think that they are not being very nimble.

Free Budgeting Software Methods

2007-01-02T11:12:00.000-05:00

http://pearbudget.com/

Currently using it. Love it! (: Makes it easy. I imported it into Excel but any spreadsheet program should do the job.

You can enter your own categories and then track by month.

It's very easy and intuitive. You are limited to 10 categories in each type of expense - regular, irregular, and variable.

I think that's a good thing because one of the major problems with budgets is that people can make it too complicated wanting to account for every cent. It is better to have no more than 30 categories and force people to really limit these expenses so people will maintain their discipline.

One quick note, when I go to retail stores, I classify the expenses by what I spent most on there. I don't really break it out unless it's a big ticket item. Aka TV for 600 bucks and 35 bucks worth of clothes. So if you are going to go a grocery store and pick up something else like a book, clothing item, or household item don't bother breaking it out.

As an accountant, I usually do account but for the layperson, it's not necessary to be that nitpicky.

What is the Difference between APR and APY?

2006-12-19T09:49:00.001-05:00

Sorry guys for the long two weeks of no posts. However, I am in the process of relocating so had spotty internet availability or time.

Now back to the good stuff! Say you are trying to compare savings rates at a bank. Have you noticed the two different rates between APR (Annual Percentage Rate) and APY (Annual Percentage Yield). The numbers have a meanign for CD comparison and looking at savings accounts also. APY is the number that takes compounding interest into the account. The more frequently (monthly, weekly, or daily) a bank computes interest, compounding makes it higher over a year period. To compare real rates, use the APR so you don't compare the incorrect rates and expect more interest than you get.

From http://www.investopedia.com/articles/basics/04/102904.asp:

"For example, consider you are shopping around for banks in which to open a savings account at, obviously you are seeking the highest rate of interest. It is in the banks best interest to quote you the APY, as opposed to the APR. They want to quote the highest possible rate they can to entice you with to their bank. They are much less likely to quote you the APR because this rate is lower than the APY given that there is some compounding during the year.

Again, it is important for the individual to acknowledge the distinction between these two rates, because they can significantly affect that amount of interest they can accumulate in a savings account.

It should be noted that different countries have different rules and regulations in place to combat some of the unscrupulous activity surrounding quoting rates that has arisen in the past; however there is no better insulator against these ruses than knowledge in these circumstances."

If you employ your kids in your business....

2006-11-30T19:23:00.000-05:00

If you employ your kids in your business activities, your kids must have W-2's even if no payroll taxes such as FIT (federal income tax) or FICA (Social Security taxes) was withheld.

Otherwise owners will lose the business deduction for the wages and incur other penalties..

Source: General Ledger, Dec '06

Professional Networking - Free

2006-11-30T19:11:00.000-05:00

There is a website I began using last year for career networking. I find it an amazing tool for connecting the disparate activities, career twists, and people in my life together. I also find it a great way to keep track of the many wonderful professionals at my current workplace right before I transition to my next job.

At the end of the day, people are what matter and what you can learn from them. I think it is worth taking extra time to remember people in your life for birthdays, Christmas, and even just those you may have met on the airplane but shared a fascinating one hour ride with.

Good conversation is the start of many wonderful friendships and professional career choices. I know one girl who got an amazing opportunity due to the fact that she impressed the executive seated next to her on a red eye flight with ideas. By the end of the flight, she had been hired for a senior position at his company.

The tool I have found really great has been http://www.linkedin.com/I believe you need an invite but you may be able to find someone who may be connected or email me.

I have already found 4 senior level executives and managers at the new company I am going to work for. It's a wonderful thing to have a starting point cross-company.

Looking for hard to find autoparts online?

2006-11-29T18:02:00.001-05:00

http://www.partstrain.com/

Check this website if you don't find parts to fix your car via local junkyards or other used parts outlets.

Cost of Living Comparison - Actual Numbers

2006-11-26T14:28:00.000-05:00

Did a cost of living comparison with more reasonable numbers (using the $50,000 comparison number) between Indy and Baltimore. I am using bankrates COL Calculator.

The equivalent income is $62,415.23. It will take a 24.83% increase to maintain my standard of living. I am still doing great, but definitely need to be careful in the "transition"

Product	Indianapolis IN	Baltimore MD	Difference
HOME PRICE	$279,984.00	$457,388.00	$177,404.00
PAYMENT+ INTEREST	$1,283.56	$2,025.00	$741.44
APT RENT	$700.00	$1,150.00	$450.00
TOTAL ENERGY	$172.63	$171.02	$1.61
LIPITOR	$115.46	$116.14	$0.68
OTHER ENERGY	$114.17	$83.79	$30.38
OPTOMETRIST	$77.11	$62.60	$14.51
DOCTOR VISIT	$66.10	$83.00	$16.90
DENTIST VISIT	$63.00	$78.00	$15.00
PART ELECTRICAL	$58.46	$87.23	$28.77
WASHER REPAIR	$43.60	$60.98	$17.38
VET SERVICES	$36.80	$31.00	$5.80
BEAUTY SALON	$28.98	$40.00	$11.02
MENS SHIRT	$22.15	$27.39	$5.24
WOMENS SLACKS	$21.68	$25.99	$4.31
PHONE	$20.31	$35.36	$15.05
NEWSPAPER	$16.47	$24.53	$8.06
BOYS JEAN	$15.64	$19.99	$4.35
HAIR CUT	$10.80	$10.00	$0.80
PIZZA	$9.55	$9.40	$0.15
DRY CLEANING	$9.50	$7.69	$1.81
TIRE BALANCE	$9.29	$11.50	$2.21
MOVIE	$8.15	$8.38	$0.23
BEER	$7.73	$6.89	$0.84
T BONE STEAK	$7.28	$10.59	$3.31
IBUPROFEN	$5.27	$5.83	$0.56
WINE	$4.47	$6.39	$1.92
CASCADE	$3.90	$4.16	$0.26
POTATOES	$3.63	$4.29	$0.66
BOWLING	$3.46	$3.59	$0.13
SAUSAGE	$3.43	$3.40	$0.03
PARMESAN CHEESE	$3.24	$3.69	$0.45
COFFEE	$3.14	$3.31	$0.17
CRISCO	$3.14	$3.61	$0.47
GASOLINE	$2.71	$2.78	$0.07
POTATO CHIPS	$2.65	$2.09	$0.56
2-PC CHICKEN	$2.64	$2.54	$0.10
GROUND BEEF	$2.54	$3.43	$0.89
ORANGE JUICE	$2.54	$2.00	$0.54
FROZEN MEAL	$2.54	$2.45	$0.09
CEREAL	$2.51	$3.24	$0.73
TOOTHPASTE	$2.36	$1.79	$0.57
HAMBURGER SANDWICH	$2.24	$2.61	$0.37
HALF GAL MILK	$1.93	$1.95	$0.02
TENNIS BALLS	$1.90	$2.69	$0.79
KLEENEX	$1.85	$1.81	$0.04
PEACHES	$1.80	$1.75	$0.05
SUGAR	$1.61	$1.50	$0.11
COKE	$1.47	$1.37	$0.10
BREAD	$1.30	$1.00	$0.30
FRIED CHICKEN	$1.22	$1.67	$0.45
LETTUCE	$1.07	$1.11	$0.04
SHAMPOO	$1.02	$1.14	$0.12
DOZ EGGS	$0.95	$0.99	$0.04
SWEET PEAS	$0.84	$0.93	$0.09
MARGARINE	$0.72	$0.99	$0.27
TUNA	$0.65	$0.71	$0.06
BANANAS	$0.47	$0.48	$0.01
Mortgage (%)	6.18%	5.85%	0.33

Find all the sales papers near your zip code

2006-11-26T14:18:00.000-05:00

http://www.sundaysaver.com/

Check it out - has all the papers that I could see.

Planning a move due to Job Change

2006-11-23T06:50:00.000-05:00

I am planning on switching jobs in the next two weeks and relocating at least 600 miles. There are some factors whenever contemplating a move like that.

I am getting a nice increase in salary so my tax planning and retirement planning are impacted a bit for this year and next. I would rather use the windfall and contribute more into my retirement or save for a house. The best option is to do both! I am contributing fully to my ROTH which I can use completely for a first home purchase or use my contributions only for any purchase.

Second implication is a signing on bonus. It is taxable. I am trying to get it in this calendar year so I am not impacted in next year's taxes where I will have a higher salary + this hit.

Lastly, there is a relocation lump sum amount. It is important to know that when companies relocate you, if a lump-sum amount with no requirements for receipt it is taxable!!! So if you are in the cusp of two years, it would make sense to see the calculations/planning you need to do to make sure you pick the correct timing.

I may also get a lump sum amount from my current employer as I have a lot of unused leave so that factors into my timing decision.

Happy Thanksgiving.

PORTRAIT OF A MILLIONAIRE

2006-11-21T12:37:00.000-05:00

http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/dp/product-description/0671015206 Go read this book! Funny.

Who is the prototypical American millionaire? What would he tell you about himself?(*)

* I am a fifty-seven-year-old male, married with three children. About 70 percent of us earn 80 percent or more of our household's income.

* About one in five of us is retired. About two-thirds of us who are working are self-employed. Interestingly, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. Also, three out of four of us who are self-employed consider ourselves to be entrepreneurs. Most of the others are self-employed professionals, such as doctors and accountants.

* Many of the types of businesses we are in could be classified as dull/normal. We are welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors.

* About half of our wives do not work outside the home. The number-one occupation for those wives who do work is teacher.

* Our household's total annual realized (taxable) income is $131,000 (median, or 50th percentile), while our average income is $247,000. Note that those of us who have incomes in the $500,000 to $999,999 category (8 percent) and the $1 million or more category (5 percent) skew the average upward.

* We have an average household net worth of $3.7 million. Of course, some of our cohorts have accumulated much more. Nearly 6 percent have a net worth of over $10 million. Again, these people skew our average upward. The typical (median, or 50th percentile) millionaire household has a net worth of $1.6 million.

* On average, our total annual realized income is less than 7 percent of our wealth. In other words, we live on less than 7 percent of our wealth.

* Most of us (97 percent) are homeowners. We live in homes currently valued at an average of $320,000. About half of us have occupied the same home for more than twenty years. Thus, we have enjoyed significant increases in the value of our homes.

* Most of us have never felt at a disadvantage because we did not receive any inheritance. About 80 percent of us are first-generation affluent.

* We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive the current-model-year automobile. Only a minority ever lease our motor vehicles.

* Most of our wives are planners and meticulous budgeters. In fact, only 18 percent of us disagreed with the statement "Charity begins at home." Most of us will tell you that our wives are a lot more conservative with money than we are.

* We have a "go-to-hell fund." In other words, we have accumulated enough wealth to live without working for ten or more years. Thus, those of us with a net worth of $1.6 million could live comfortably for more than twelve years. Actually, we could live longer than that, since we save at least 15 percent of our earned income.

* We have more than six and one-half times the level of wealth of our nonmillionaire neighbors, but, in our neighborhood, these nonmillionaires outnumber us better than three to one. Could it be that they have chosen to trade wealth for acquiring high-status material possessions?

* As a group, we are fairly well educated. Only about one in five are not college graduates. Many of us hold advanced degrees. Eighteen percent have master's degrees, 8 percent law degrees, 6 percent medical degrees, and 6 percent Ph.D.s.

* Only 17 percent of us or our spouses ever attended a private elementary or private high school. But 55 percent of our children are currently attending or have attended private schools.

* As a group, we believe that education is extremely important for ourselves, our children, and our grandchildren. We spend heavily for the educations of our offspring.

* About two-thirds of us work between forty-five and fifty-five hours per week.

* We are fastidious investors. On average, we invest nearly 20 percent of our household realized income each year. Most of us invest at least 15 percent. Seventy-nine percent of us have at least one account with a brokerage company. But we make our own investment decisions.

* We hold nearly 20 percent of our household's wealth in transaction securities such as publicly traded stocks and mutual funds. But we rarely sell our equity investments. We hold even more in our pension plans. On average, 21 percent of our household's wealth is in our private businesses.

* As a group, we feel that our daughters are financially handicapped in comparison to our sons. Men seem to make much more money even within the same occupational categories. That is why most of us would not hesitate to share some of our wealth with our daughters. Our sons, and men in general, have the deck of economic cards stacked in their favor. They should not need subsidies from their parents.

* What would be the ideal occupations for our sons and daughters? There are about 3.5 millionaire households like ours. Our numbers are growing much faster than the general population. Our kids should consider providing affluent people with some valuable service. Overall, our most trusted financial advisors are our accountants. Our attorneys are also very important. So we recommend accounting and law to our children. Tax advisors and estate-planning experts will be in big demand over the next fifteen years.

* I am a tightwad. That's one of the main reasons I completed a long questionnaire for a crispy $1 bill. Why else would I spend two or three hours being personally interviewed by these authors? They paid me $100, $200, or $250. Oh, they made me another offer--to donate in my name the money I earned for my interview to my favorite charity. But I told them, "I am my favorite charity."

IRS adjusts the tax bracket for inflation!!!!

2006-11-15T06:44:00.000-05:00

Changes on 2007 taxes - You will file it in 2008

1. The new standard deduction for married couples filing a joint income tax return will rise $400 to $10,700.

2. The deduction for singles and married individuals filing separately will go up $200 to $5,350 and for heads of household up $300 to $7,850.

3. The value of each personal and dependency exemption, available to most taxpayers, will increase $100 from the 2006 level of $3,300.

4. Tax bracket thresholds will also shift as a result of inflation. The taxable-income threshold separating the 15-percent bracket from the 25-percent bracket for a married couple filing a joint return will go from $61,300 in 2006 to $63,700.

5. Additionally the income limits to retirement savings contributions (ROTH, 401K, etc) will also rise for the first time in 2007 due to inflation.

All I have to say about this - ABOUT TIME!!

Source: http://accounting.smartpros.com

Sketch

2006-11-15T05:34:00.000-05:00

For more creative work of mine, check out my blog http://wipforme.blogspot.com/

Frugality Website

2006-11-14T16:34:00.000-05:00

I consider frugality a virtue. I am not a tree hugging hippie BUT I hate wastage. I am guilty of a lot of it. I remember I once met an elder who had been through the depression era. She made over a 100K salary. However, if you went to her house - she lived well but recycled everything. I respect that. She told me and my brother stories of the days when air conditioning was a wet towel over the window. She reminded me of my grandmothers stories of frugality as well. In India, even the starchy water that rice/pasta was cooked in was saved. A little sugar or salt would go in and it would be a nice drink with electrolytes in the heat. This was the Old Indian Gatorade!!!

Well enough meandering. Check out this frugal person's website. Interesting reading. Especially the Holiday section. Enjoy! http://rangylil.iwarp.com/frugal/

What to do if you are not allowed to contribute all you want to a 401K?

2006-11-14T16:24:00.000-05:00

Interestingly enough, sometimes due to the complexity of anti-discrimination rules in 401K plans, employers may not allow highly compensated employees to compensate full 15K limit to 401k plans. In this case, 100,000 or more salary is considered highly compensated.

It is best then to consider opening a Roth IRA. Yes you pay more up front. But, it is the best option if you are restricted from contributing to your 401K plan.

Import TSP into Money or Quicken

2006-11-12T11:27:00.000-05:00

I use MS Money to track all my accounts electronically.

It is trickier with TSP as there is no direct download yet from TSP Gov't Military Retirement accounts.

Here are the steps:

1. Download TSP rates either monthly / daily per your preference into an excel file via the link. http://www.fedsmith.com/corners/tsp/csv.choosedate.db.php

2. For MS money the file is a *.qif format. So you have to convert the Excel *.csv to Money *.qif format. Also include buy/sell data from your paycheck settings or the TSP quarterly statements.

http://money.mvps.org/faq/article/27.aspx explains how to covert from excel to money format.

http://xl2qif.chez-alice.fr/xl2qif_en.php gives you the macro format for excel side.

3. Then import and reconcile.

TSP Retirement 401K Resources

2006-11-12T11:05:00.000-05:00

This is for all my friends who work for government and have TSP as their 401K equivalent. Some basics first on choices.

The G Fund - The G Fund invests in short-term U.S. treasuries. Principal is guaranteed.

The F Fund - The F Fund is invested in the Barclays U.S. Debt Index Fund, bond index fund which holds a representative sample of the bonds in the Lehman Brothers U.S. Aggregate (LBA) index. Economic indicators and money supply affect interest rates. Interest rates influence the movement of this fund. When yields move lower, bonds go up in price and the F fund goes up in value. When yields move higher, bonds go down in price and the F fund goes down in value.

The C Fund - The C Fund invests in the Barclays Equity Index Fund which tracks the S&P 500, the 500 largest U.S. companies being traded.

The S Fund - Small cap is a bit of a misnomer for this fund. It is actually all of the U.S. stocks that are not included in the S&P 500. There are some fairly large companies in this fund. It is really a compilation of mid-cap stocks and small cap stocks. It tracks the Barclays Extended Market Index Fund, which tracks the Wilshire 4500 index . By investing in both the C and S funds, you are basically investing in every tradable U.S. company.

The I Fund - The international fund follows the *EAFE index. This stands for Europe, Australia and Far East. The EAFE countries are Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and United Kingdom. If you surf through any of the financial networks on TV at night, you will see quotes on these exchanges and those results affect the next day's I fund price. The I Fund also carries the risk of foreign currency fluctuations. The stock prices of the companies in the EAFE index are expressed in the currency of each respective country and then converted to U.S. dollars to determine the value of the EAFE index. Thus, the value of the EAFE index will rise as the value of the U.S. dollar falls — and fall as the value of the U.S. dollar rises — relative to the currencies of countries with companies that are represented in the EAFE index.

Also the L funds are there to rebalance the mix as per expected retirement age.

Some TSP resources are:

http://www.tsptalk.com/

Click here for realtime quotes of C, S, I and F fund tracking

Education for Asian Americans

2006-11-11T06:59:00.000-05:00

Asians only constitute 4.5% of the American population. Did you know they constituted 10-30% of the students at elite colleges?

Well my fellow Asians you are indeed going to work harder. Wall Street Journal ran an article today.

Based on outstanding scores and grades - the numbers should be much higher!!

"A spokesman for the Department of Education's Office for Civil Rights said it is investigating a complaint filed by Jian Li, now a 17-year-old freshman at Yale University. Despite racking up the maximum 2400 score on the SAT and 2390 -- 10 points below the ceiling -- on SAT2 subject tests in physics, chemistry and calculus, Mr. Li was spurned by three Ivy League universities, Stanford University and Massachusetts Institute of Technology."

This is a direct quote from WSJ's entire article.

I really feel bad for Jian Li. I know when I apply to MBA or any other competitive graduate program, I am worried about this open secret that all Asians know.

No matter how hard you work and do your best, it still doesn't matter as much if you are not rich and no Asian.

I feel this is not a pure meritocracy. I give Kudos to the 10-30% in elite schools for working hard despite the discrimination.

I have always felt college admissions at competitive schools should be racially blind but give props to people from low family incomes regardless of white, black, or brown or purple even (:

That makes it more equitable. Anyways, my two cents right there.

In the interest of fairness, not all Ivy League school behaved like the less venerable (in my opinion now) MIT, Princeton, Standford, U. of Penn. Mr. Li was accepted by Rutgers, Coopers Union, and the California Institute of Tech.

Berkeley in California now has 42% Asian American Students. The reason, California voters rejected affirmative action in college admissions. No longer is race the basis for selection but pure merit. Kudos to California for rejecting the "Velvet Rope" approach to admissions. Of course, it's not going to be 42% in every competitive program, but numbers will bump up from current 12-13% at schools.

That's probably a question for all the philosopher's out there. Is a competitive university's purpose to set right the social balance by giving seats based on a formula of merit and race or should it be pure merit and advance education/academics.

I myself don't know what is the right thing. I believe everyone should have access to quality education which is available in many universities at state tuition rates. Competitive programs should have competitive people not based on economics or race but on merit. There are 1600 higher education institutions and maybe 30 competitive (aka IVY) schools out there. If an education is what people want to obtain good work and careers, there are many excellent institutions. If people want to do path breaking research and innovation, we should preserve the reputation capital of the few and maintain a meritocracy.

The cost of AIDS per person

2006-11-11T06:41:00.000-05:00

I read a post in http://www.cnn.com/2006/HEALTH/11/10/hiv.costs.ap/index.html on the life expectancy of people diagnosed with AIDS.

It is a long time! 24 years!! The cost of healthcare - (which is increasing) at this point is estimated to be $600,000 per person to make it that long.

The annual cost of care is $25,200 per year. This is 40% HIGHER than in the early 90s.

Even in America the cost is too high. Only 55% of patients get this level of care.

Just wanted to share the cost of this illness. It is amazingly high dollar numbers.

Delete bad online reputation!

2006-11-09T08:39:00.000-05:00

http://www.wired.com/news/technology/0,72063-0.html

This article details what to do if you have an embarrassing web presence. What was cool in high school is very uncool for when you want to get hired and your employer googles you!

http://www.reputationdefender.com/ - This company will do the job inexpensively. Check it out.

Democrats and Republicans control of US government

2006-11-09T07:42:00.000-05:00

I was reading the Economist today. They had an excellent graphic to describe the times Democrats and Republicans have controlled the 2 Houses in Congress in the last century. In view of election week in the United States, I like to see hard data and the bigger picture.

Student debt got you down! Check out the latest stats!

2006-11-07T05:30:00.000-05:00

Check out http://www.projectonstudentdebt.org/

A new analysis of student loan debt for the class of 2005 finds that students who graduate from state schools often carry loan debt nearly as high as those who graduate from private colleges.

This is interesting information indeed.

Along with the full report, an interactive state-by-state map provides:

1. Statewide debt averages and data for individual campuses
2. Average debt of graduating seniors,
3. Percentage of students with debt,
4. Tuition and fees,
5. Percentage of students receiving Pell grants (primarily those with family incomes below $40,000).

Great Banking Blog!

2006-11-05T08:32:00.000-05:00

http://bankdeals.blogspot.com/

I went to this blog and it is interesting. Great deals such as the 10% CD for 10 mo. Only valid for San Antonia. But in depth, week by week analysis of the best savings, money markets, checking, and CD rates in the country.

Check it out!

Great Travel Website

2006-11-04T07:25:00.000-05:00

Check out http://www.farecompare.com

This website is great for checking what the fares are between cities and booking. I got some great fares and will investigate how to book fares off of it. In the meantime, you all check it out and comment what you think. Thanks.

Put up my first two products

2006-11-01T14:19:00.000-05:00

I am experimenting with E-business opportunities to make some extra money on the side through my hobbies.

Check out my products:

http://www.cafepress.com/eshardesigns

Comments/suggestions would be appreciated.

Health Risk? Can you do anything about it?

2006-10-31T05:39:00.000-05:00

Want a tailored action plan to lower your health risk. With healthcare the biggest projected expense as you age, this might be fiscally smart and better to avoid problems as long as possible.

1. http://www.yourdiseaserisk.harvard.edu/

Go to this website for some customized information and what to do for your health risk. It is my favorite as it assesses risk for heart disease, stroke, osteoporosis, diabetes, and many cancers. Some of the cancer assessments include breast, cervical, bladder, lung, kidney, melanoma, ovarian, pancreatic, prostate, stomach, and uterine. I think it is an exceptional tool available for free to the general public.

2. http://www.americanheart.org

type "heart attack risk assessment" - You also will get a generic determination of your ten year risk for heart attack. Good for people to begin looking at in late 20s - 30s. Earlier for you high risk types. Heart disease in the #1 killer in US.

3. http://www.cancer.gov/bcrisktool (National Cancer Institute) -

assesses breast cancer for women. I wasn't able to use this as this tool only calculates it for 35 or older women.

Check these out. Beats going to a Fortune Teller, though one may come trick or treating at your house!

Happy Halloween folks!

Life Insurance - Term with Return of Premium

2006-10-31T05:20:00.000-05:00

Found out today as I was looking at life insurance, there are term life policies that you can pay for 10-30 years. A little more pricey up front, but you can get 100% of your premium back. AIG and Lincoln Life seem to offer these. I will continue to do research on this and post my finding on here.

Meantime check out this article on insurance that returns the premium. Best deal seems to be buy early and get the premiums back after 30 years.

http://www.usnews.com/usnews/biztech/articles/041025/25insurance.htm

Blog Interface Resources

2006-10-30T05:06:00.000-05:00

The first website I am heavily relying on to redo the architecture of my website is

http://www.photoshopsupport.com/tutorials/jennifer/blog-templates.html

It is a great resource with information on how to customize the "look" of the blog.

Also if you are learning to use computer resources with your artwork -

http://pstutorialsblog.com/

It is a great tutorial blog on how to get things going in photoshop.

E-Study Guides - The tools for todays college student

2006-10-28T16:03:00.000-05:00

What are all the tools an average student can use to learn electronically today?
I compiled a list.

Hardware

1. IPOD + Digital Voice Recorder Attachment - to record and hear back lectures and podcasts
2. Laptop
3. Good Speakers for hearing lectures in your room
4. Good Headset - for hearing lectures on the go from the IPOD
5. Video Camera/Camera - To take pictures or videos of lab experiments, group projects, for presentations can get original campus video/pictures.
6. Hard Drive, Flash Drive, Wireless Card, DVD Burner, DVDs for storage
7 . Scanner in notes and diagrams.

Software

1. Adobe Suite - photoshop, illustrator, premiere, acrobat
2. Great OCR - to scan your notes to word!
3. Office Suite - spreadsheet, word processing , database, presentations
4. Electronic FlashCard Software - freely available on the web or some inexpensive desktop version.

Health Insurance

2006-10-28T14:26:00.001-05:00

http://www.healthinsuranceindepth.com/

Favorite thing about this site include the easy-to-understand guides:
• Medical insurance basics lays out the principles of medical coverage, and explains all the options available to you.

• The guide to different types of health plans should help you decide upon the right kind of policy for you and your family.

Check out the Taj Mahal!

2006-10-28T11:42:00.000-05:00

Check this out. See what you think. Comments are welcome. I was in Agra as a 12 year old and this gives a pretty good look at India's Taj Mahal.

Life Insurance? How much is needed?

2006-10-28T10:24:00.000-05:00

My employer provides $50,000 in life insurance. However, I anticipate I may not continue to work for my employer for my whole life and besides it's barely enough for cremation and legal expenses I think.

So I want to have a portable life insurance.

How much do people need? A good rule of thumb is 10 times gross income. 20 times is the maximum life insurance offers. How much does it cost? Varies per person so if you want to do a check - quick quotes are at http://www.lifeinsure.com/

http://www.secureinsurancequotes.com/ also gives some good quotes

There are two types of life insurance:

Whole (Universal) Life - Provided till you die, better to get it young.
Term Life - Only for a term.

The estimates when I ran it looked at:

$315 -345 per year for term
$1400-2500 per year for universal

I am looking into universal life coverage for myself, I think it's better for dependants.
Check it out. See what you think and see the differences between the coverages.

Charles Simonyi Space Tourist!

2006-10-28T07:25:00.000-05:00

Okay - I don't mean to gush in this post.

But space flight and travel have been the fondest dreams I have held from the time I could read. My first heroes were Spock, Valentina Tereshkova, and Neil Armstrong (he's still someone I look up to) in that order from age 5.

Recently I read about Charles Simonyi in the news. He amazed me. For everyone who doesn't know him, he's responsible for programming MS Word and Excel. To an accountant, that makes him very important!

On a CNN sidebar - he's apparently dating Martha Stewart in 2005 and maybe since. That seems like a good match as they both have organizational interest.

He's a billionaire and will be the next space tourist. I would like to follow his blog as he gets up there.

http://www.charlesinspace.com/

Enjoy all you space voyeurs! I certainly will.

How Much Is A Bachelor's Degree Worth?

2006-10-28T06:09:00.000-05:00

According to the US Census Data -
a Bachelor's degree is worth $23,000 extra salary per year on average.

28% of all adults over 25 have a college degree today.

(that's amazing that across the country only a quarter or so are educated with that much income potential getting lost)

People with High School degrees earn about 28K and people with Bachelor's earn on average 51K. That is quite a gap.

Source: http://www.cnn.com/2006/EDUCATION/10/26/degree.value.ap/index.html

An interesting note of states with over 90% high school diplomas:

Alaska
Utah
Minnesota
New Hampshire

Lowest States for proportion of adults with high school diplomas:

Texas
Kentucky
Mississippi

Now for college degrees -

Highest adult proportions:

Connecticut - 37%
Massachusetts
Maryland
New Jersey

Washington D.C. - 47% have at least a Bachelor's

Lowest adult proportions:

West Virginia
Arkansas
Kentucky
Louisiana

Blogging is getting easier

2006-10-27T21:26:00.000-05:00

Well I am getting more comfortable with blogging then I was when I started two weeks ago. To be honest I was scared of all you web stalkers and what not.

However after seeing Simran's blog I really liked the personal touch (Finance CFA link on the left). I found it more readable then just putting all the tips out there. Oh well - there's my rookie mistake. There shall be many more in this 2 week old blog.

So I thought I will likely be adding voice, video, and pictures of myself - without my name of course. I logged onto a website that checks how many other people in US had my first/last name and turns out I am the only one with the name. If you would like to know my first name - it's Esha.

Thank you Esha Deol - Indian Actress for having the same name as me. This cute girl has certainly allowed for a lot of Indians with that name - they are all named after her.

Some interesting theories on the meaning of my name from people who came across my name:

Japanese Lady - You know it means 'doctor' in Japanese.
(Maybe prescient considering my obsession with medicine?)

African-American gentleman hitting on me - Esha's a cool name, you know I like it better than Moesha
(My personal thought is I agree Esha sounds better without the Mo or Moo...blah)

Guy in LA - You know Esha means woman in Hebrew - sounds the same but spelled like Isha?
(no I didn't)

Well you all can comment on other possible meanings of the name. I personally know my family dedicated me to our family Goddess - Parvati, Uma, Shivali, Esha, Gayatri, Bala Tripura Sundhari are all synonyms for her. Esha happens to be the Bengali version.

So you guys, what do you think. Any Hebrew/Japanese experts can give me independent verification or validation . As I don't speak those languages, I would appreciate any thoughts.

Check out how common your name is! http://ww2.howmanyofme.com/search/

Tax Incentives to help Ease you back to university!

2006-10-27T19:30:00.000-05:00

Hope credit--This credit is worth up to $1,500 per year for tuition and fees for the first two years of undergraduate education, provided you're enrolled at least half-time. In 2004, to take the full credit, your income must be below $42,000 (single) or $85,000 (married filing jointly).

Lifetime Learning credit--This credit is worth up to $2,000 per year to cover the tuition and fees for higher education courses taken throughout your lifetime, whether to acquire or improve job skills. Income limits are the same as for the Hope credit. Unfortunately, the Hope credit and Lifetime Learning credit can't be claimed in the same year--it's one or the other.

Deduction for qualified higher education expenses--You may deduct up to $4,000 of higher education tuition and fees (in 2004 and 2005), as long as the tuition that's used to qualify for the deduction isn't the same tuition used to qualify for the Hope or Lifetime Learning credit. To qualify, your income can't exceed $65,000 (single) or $130,000 (married filing jointly).

Student loan interest deduction--If you graduate with student loans, you can deduct up to $2,500 of the interest you pay on student loans each year. To take the full deduction, your income must be below $50,000 (single) or $100,000 (married filing jointly).

For assistance or more information, consult a tax professional or IRS Publication 970, Tax Benefits for Education.

When do you need to get a EIN/TIN number for your business?

2006-10-27T16:47:00.000-05:00

What is it?

Also known as the Tax Identification Number (TIN), Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number, it is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification.

When the number is used for identification rather than employment tax reporting, it is usually referred to as a TIN, and when used for the purposes of reporting employment taxes, it is usually referred to as an EIN.

Here are the rules:

Sole proprietors must obtain a new EIN:

when subject to bankruptcy proceedings
when they incorporate
when they take in partners
when they purchase/inherit a business

Sole proprietors do not need a new EIN:

when they change the business's name
when they change or add locations
when they operate multiple businesses

Partnerships must obtain a new EIN:
when 50% or more of the ownership changes within a 12-month period
if they incorporate
if they are taken over by a partner and operated as a sole proprietorship
if they end and a new one begins
if they declare bankruptcy

Partnerships do not need a new EIN:

when the partnership name changes
when they change or add locations

How to Improve your Credit Score

2006-10-27T16:30:00.000-05:00

-five ways to improve credit score - this article gives an idea of the composition of the credit score

-tips for boosting credit score - this article is also great for checking things out.

A reader and I were conversing about credit scores as he is recently coming out of a bankruptcy. I hope this helps everyone and him.

Return On US Gov't Investment

2006-10-27T14:26:00.000-05:00

So you all pay taxes right? Well hopefully otherwise tax evasion. So what's your Return On Investment (ROI) for the US gov't taxes.

I have not independently validated this blog's post, but I thought it made for interesting reading.

20.9% of our GDP in 2000 went to taxes. Wowweee! And only 7% economic growth. Doesn't look like a good deal.

http://www.gongol.com/research/economics/governmentroi/

Check it out - makes for interesting reading and less technical details.

I hope to revalidate this gentleman's numbers and post it on my more technical blog - http://countingjumpingbeans.blogspot.com

Pension Protection Act of 2006

2006-10-27T04:18:00.000-05:00

Bush recently signed into law the very extensive 900 page Pension Protection Act of 2006.
Source: http://www.bankrate.com/brm/itax/news/20060816a1.asp?caret=34

Major changes and features include:

1. Automatic Enrollments - your firm automatically enrolls you unless you opt out.

2. Investment Advice - new law allows for workers to get investment advice regarding their various company-sponsored options.

3. Refunds to Retirement - you can now have your tax refunds go to your retirement accounts.

4. Easier rollover into ROTHs -Beginning in 2008, you can directly roll defined-contribution-plan money into a Roth IRA.

5. Permanent IRA (Individual Retirement Account) contribution levels - that's it! Bush's temporary changes are now permanent

6. Saving the Saver's Credit - credit for low income contributors.

7. Tax Free 529 Distributions - yeah!!!

8. Proving Donated Goods Value - you have to fill out Form 8283, Noncash Charitable Contributions, detailing your generosity

9. More Record Keeping for cash contributions - a receipt is not enough. Bank records, credit card bills, and cancelled checks for contributions over $250 claimed on taxes. No form is required just have the receipt for when you may be audited.

10. Giving away IRA Money -If you are 70½ or older, you can have money from your IRA sent directly to a charitable organization. The gift stays out of the taxable income tally for the IRS.

This is just a summary. Go to the full article for further details.

What are American Depositary Shares (ADS)

2006-10-27T00:41:00.000-05:00

1) What is an American Depositary Share (ADS)?

An ADS is a negotiable certificate evidencing ownership of an outstanding class of stock in a non-US company. ADSs are created when ordinary shares are delivered to a custodian bank in the domestic market, which then instructs a depositary bank in the US to issue ADSs based on a predetermined ratio. ADSs are SEC-registered securities and may trade freely, just like any other security, either on an exchange or in the over-the-counter market.

2) Something good to check is what is the ratio of equity shares to ADS?

1 equity share held/traded in foreign country is equivalent to 1 ADS held/traded on NASDAQ

3) Do the ADSs have voting rights?

Yes. In the event of a matter submitted to the holders of ordinary shares for a vote, the ADS holders on record as at a particular date will be allowed to instruct the depositary bank to exercise the vote in respect of the equity shares representing the ADS held by them.

4) Are the ADSs entitled to cash dividends?

Yes, whenever dividends are paid to ordinary shareholders, cash dividends to ADS holders are declared in local currency and paid in dollars (based on the prevailing exchange rate) by the depositary bank, net of the depositary’s fees and expenses.

Example stocks include Toshiba and Infosys.

Online Job Websites

2006-10-26T19:17:00.000-05:00

http://www.sologig.com/

Description: Sologig is a wholly owned property of CareerBuilder.com operating as a business unit within its family of services. CareerBuilder.com is the leading provider of targeted Web recruiting. Through the CareerBuilder Network, employers can post jobs to pinpoint exactly the right candidates by location, industry, or diversity. Job seekers can instantly search the Internet's best career sites, in just a couple of clicks. CareerBuilder.com also provides personalized career services and advice.

Purpose: Get for getting freelance work or part time projects.

http//www.careerbuilder.com

Description: Most job listings.For the last two years, CareerBuilder.com has had the largest number of job listings, currently about 1.5 million. This site pulls job listings from the pages of the Tribune and Knight Ridder newspaper conglomerates, so a search here might turn up something unique, especially if you are looking for work in a major metropolitan area served by one of these newspapers.

Purpose: Get a job - helpful for major metropolitan areas.

http://www.monster.com/

Description: Most popular job site. Reviews say Monster.com has over a 1.1 million job listings and over 41 million resumes. In addition to seemingly endless job postings, it offers advice on resumes, interviewing and salary information. Monster Networking hooks up people in the same industry to provide possible leads. Members of the network also give rated feedback on each other. Monster Learning is offered as a directory of online degree programs. Users can also subscribe to a newsletter or various blogs. While Monster.com has the widest scope, some complain that many of its listings are 'junk' listings from headhunters and agencies. HotJobs lets you filter out those postings.

Purpose: Access large number of listings with the most scope. Great for students or less specialized industries.

http://www.dice.com/

Description: Best job site for technology fields.Dice.com is the most-recommended job site for positions in the information technology industry. Reviewers like its straightforward interface and say that industry-specific niche sites generally work better than mega-sites in matching up employers with job seekers. Dice.com also offers career advice on writing resumes and getting IT certifications. If you’re searching in the IT field, Dice.com is a more targeted site than HotJobs.com or Monster.com, and it may yield better results.

Purpose: Technology jobs primarily!

http://www.hotjobs.com/

Best large job site.HotJobs.com ranks below Monster.com in number of listings, but reviews say HotJobs has better features. For one thing, HotJobs is more sensitive to privacy issues, which is especially important if you think your current employer might find your online resume -- HotJobs allows you to block certain companies from accessing your profile. Site users like the "status" feature by which you can see how many times your resume has been viewed. At HotJobs you can browse by keyword, industry or state, and there are tools for resume writing, interviewing and networking. A user can also subscribe to any of eleven newsletters that cater to particular segments of the market, such as technology, government, sales, health care and college grads.

Purpose: Targeted large job site for general employment.

http://www.simplyhired.com/

Description: Best job search engine.SimplyHired.com is a job search site, aggregating results from major job websites, newspapers, company websites, associations and other online sources. Employers cannot post jobs on SimplyHired at all -- this site is strictly for job seekers. Visitors can search by occupation, job title or location, and results can be filtered by job type, education, work experience, company revenue or company size. Users can also rate their interest in each job listed. After using the site awhile, users get job suggestions based on their search criteria. While users can't post resumes here, SimplyHired.com is the best job search site -- well worth a stop, according to reviews.

Purpose: Great general website that has a great search engine.

http://www.usajobs.gov/

Description: 1-stop shopping for federal jobs. Over 21000 jobs when I looked. Free to use.

Purpose: To get a job in government. Any career is available.

Grocery Deals

2006-10-26T13:42:00.001-05:00

http://www.mygrocerydeals.com/

This is a good website for people with families who want to save money

Vote for your favorite topic to read in upcoming blog posts.

2006-10-26T05:59:00.000-05:00

View Poll

What do you want to read about? Vote here!

Getting readers used to voting so you guys are in voting shape in the upcoming election. Fortunately for you, my voting booth has more than just Democrats or Republicans!! No write in candidates though.

Anyways, enjoy.