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Volume 2, Issue
5
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May
2008
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Thank you to everyone who participated in Virginia Financial Literacy Month in April 2008. The Virginia Society of Certified Public Accountants (VSCPA) serves as a catalyst for the month, as part of its award-winning campaign to improve the financial health of all Virginians. The VSCPA hopes the commemorative month, along with other outreach activities, will continue to build awareness for the importance of wise money management and encourage other Virginia organizations to make a difference in financial education. Here's a quick recap of Virginia Financial Literacy Month 2008:
Want details about the commemorative month? Click here
to review Virginia Financial Literacy Month programs, presentations
and other materials.
Those in Affected Areas Receive Filing and Payment Extensions Tax Commissioner Janie E. Bowen announced that those affected by the tornadoes that struck Virginia on April 28 will be granted a 30-day extension for filing returns and making payments. This extension will apply to taxpayers located in the following localities: City of Colonial Heights, City of Suffolk, Brunswick County, Gloucester County, Halifax County, Isle of Wight County, James City County, Mathews County and Surry County. Read
more information,
including
qualifications
and specifications.
The Commonwealth will hold a sales tax holiday May 25–31, 2008, to encourage Virginians to prepare for the upcoming hurricane season (June through November 2008). During this seven-day period, purchases of items designated by the Department of Taxation as hurricane preparedness equipment, including portable generators, will be exempt from the Virginia sales tax. Portable generators must be priced at $1,000 or less, and other eligible items must be priced at $60 or less per item. Life is full of unknowns. While it's
unsettling to think a natural disaster
could drain your financial resources,
emergencies can and do occur. The
good news is that, with a little planning,
you can minimize the impact of an
unexpected financial crisis. Read
these tips to help you prepare
financially for a disaster.
As the U.S. economy slows, more and more Americans are cutting back on spending to in order to save money, according to a recent nationwide survey conducted by Harris Interactive for the American Institute of Certified Public Accountants (AICPA). Twenty-five percent of respondents in the survey of 1,026 adults said they were spending wisely or not spending as much as a means of saving money. This is a sharp increase from 2007, when only 2 percent said they were spending wisely or cutting spending in order to accumulate savings. Read the full survey results on the FinancialFitness.org Web site.
The VSCPA develops monthly Money Management articles to provide financial advice and information for individuals and small businesses. Topics include personal finance, retirement and estate planning, saving for college, investments, running a small business, income taxes and more. Virginia organizations are granted reprint permission and can use the articles in publications, employee newsletters, Web sites and more. Here are this month's topics:
Interested in FREE financial training for your organization? The VSCPA Speakers Bureau provides Virginia CPAs to speak to various audiences — from school children to retirees — on topics related to money management and basic financial education. With more than 8,300 members statewide, the VSCPA connects nonprofits, schools, civic groups, chambers, media and other organizations with CPAs from their local communities as a pro bono public service. For more information or to schedule a speaker for your next event, complete our online form or contact VSCPA Media & Public Relations Specialist Shawnte Reynolds at (800) 733-8272.
The Virginia Jump$tart Coalition for Personal Financial Literacy is a nonprofit, volunteer-driven organization representing more than 100 individuals and organizations in business, government, association/nonprofit and education who have joined together to improve the financial literacy of Virginians. Virginia Jump$tart was honored by the national Jump$tart Coalition for its financial education efforts, being named the “2008 State Coalition of the Year.” The award was presented at a ceremony in Washington, D.C., in April, recognizing the financial literacy contributions of individuals, organizations and legislators across the nation. Virginia Jump$tart strives to ensure that Virginia residents of all ages have the resources and education to become financially competent. Click here to read the press release (.DOC) highlighting Virginia Jump$tart's award-winning efforts. For more information about Virginia Jump$tart, visit www.vajumpstart.org.
Starting at the end of April, the U.S. Treasury began sending economic stimulus payments — called tax rebates — to more than 130 million households. The VSCPA offers the following tips to help consumers make the most of this extra money. | |||||||||||||||||
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Virginia Society of CPAs | P.O. Box 4620,
Glen Allen, VA 23058-4620 | (800) 733-8272 |
