Have you ever wondered how to get rid of unwanted junk mail that litters your mail box day after day? Everyday a new catalogue will come, tempting me to buy the latest season’s fashions. Or, a furniture store displays the latest decorating looks and I go into my house and wish I could update my sofa, paint a room, or otherwise do some sort of redecorating in my house. There are some days that the mail never even makes it into my house because it is all junk mail and it goes straight into the garage recycling bin.
If it isn’t catalogues, it is unwanted/unsolicited credit card offers, trying to convince me to switch over to a newer and better credit card. Did you know that credit card solicitations are a large source for identity theft?

There are many benefits to reducing or eliminating this type of junk mail, but how? In reading the latest issue of Consumer Reports Magazine, I found out. Go to https://www.dmachoice.org and you can sign up to eliminate credit card offers and be taken off lists for catalogues and magazine subscriptions. By doing this, you can reduce your chances of identity theft, help the environment by not getting so much paper, and help your bank account by reducing your temptations to buy unplanned for and potential unneeded merchandise.

- Sharon Kinter, Para-Financial Planner and Budget Coach, 20-Feb-2011

The deadline for filing tax returns this year has been extended from April 15, 2011 to April 18, 2011.  According to IRS sources, audits of individual tax returns are up 100% since 2001. Here is a short list of some best practices to keep in mind as you file your return for this year:

1. Report All Income-Do not exclude a single penny
2. Verify Donations with back-up documentation

3. Accurately deduct auto mileage and be sure to include documentation.

4. Carefully report capital transactions

5. Avoid minor mistakes like transposing numbers on a social security number, math errors and having an incorrect filing status.
Lastly, it appears that when an individual takes advantage of filing electronically, there are 2 benefits. First, there is a lower error rate and second, audits on electronically filed returns are lower.

- Jennifer Luzzatto,  CFA, CFP, NAPFA Registered Financial Advisor, 2-Feb-2011

- Sharon Kinter, Para-Financial Planner and Budget Coach, 2-Feb-2011