• Cover Your Assets
• Insurance Review Time ????
• Why Do I Need a CPA?
• The Case for Diversification
• Exempt from Some Sales Taxes?
• Beware of Credit Report Scams
• Features Wanted
• Cafeteria Plan
• Internet Access
• Tax Tip of the Week
• We Need Your Support
• Investors Experience Higher Returns When Working with a Professional
• Doughboy Dies
• Certified?
• Entrepreneurs Frequently Act Alone
• Alimony

You say you don't have time to worry about that now! Then you may well be missing out on some of the best estate-planning strategies, which often need to be set in place early to work effectively.

When you clarify your estate-planning goals, you protect your family in the event of your death. You may find ways to reduce the estate-tax bite while allowing the family to retain control of the company.

Call us and discuss how you may be able to save some of your estate for your heirs, estate taxes and perhaps, your closely-held business.

Whether you're saving to buy a house, send your children to college or secure your retirement, you need a member of the Massachusetts Society of CPAs to assist you. Roger A. Kahan is an active member of the Massachusetts Society of CPAs.

Spreading your capital among a number of different investments may protect you from a significant drop in any one of them. Likewise, the power of diversification might smooth your returns over time.

Diversification is one of the main reasons why mutual funds are so attractive for both the experienced and novice investor. Mutual funds can be an easy and effective way to build a portfolio. They can help you save and invest for long-term growth or current income. Call us and find out more.

For purposes of this paragraph, employees shall include partners, owners, officers and any other individuals who work for the business but shall not include any employee who normally works for fewer than thirty hours per week or who is hired for a period of less than five months. For purposes of this paragraph, a business shall include all members of an affiliated group, as defined by section 1504 of the Internal Revenue Code, and any other combination of related parties as the commissioner may define by regulation; provided, however, that the commissioner may by regulation require that such business shall have first obtained a certification from the commissioner stating that it is entitled to such exemption and shall maintain such employment and other records indicating its continuing eligibility for such exemption; that the vendor keep a record of the sales price of each such separate sale, and the number of such certificate; and any other conditions and requirements under which a business may qualify for this exemption; provided, further, that the burden of proving that such business qualifies shall be upon the vendor unless he takes in good faith from the purchaser such certificate to the effect that the business qualifies for this exemption and such certificate is received and made available to the commissioner not later than sixty days from the date of the notice from the commissioner to produce such certificate.

Unfortunately, those Americans may not be getting enough for their money. You can challenge negative and inaccurate information yourself at no cost, usually by filling out a dispute form supplied by a credit bureau. Negative and accurate information generally will remain for as long as seven years.

Under the law, a "credit repair" company must tell you about your legal rights in a written contract. The contract must also spell out the services to be provided, the total cost and the guarantees. The contract must also explain that you have three days to cancel at no charge.

TAX TIPS AND FACTS will appear on our World Wide Web page, at http://www.rak-1.com making it available the WORLD.

He was 71. Fresh was buried in one of the largest funeral ceremonies in recent years.

Dozens of celebrities turned out including Mrs. Butterworth, the California Raisins, Hungry Jack, Betty Crocker, and the Hostess Twinkies. The graveside was piled high with flours as longtime friend Aunt Jemima delivered the eulogy, describing Fresh as a man who "never knew how much he was kneaded."

Fresh rose quickly in show business, but his later life was filled with many turn overs. He was not considered a very smart cookie, wasting much of his dough on half-baked schemes.

Still, even as a crusty old man, he was a roll model for millions. Fresh is survived by his second wife. They have two children and one in the oven.

The funeral will be tomorrow at 4:50 for about 20 minutes.

To the best of our knowledge, this item is not copyrighted, nor is the author's identity known.

If your accountant isn't a Certified Public Accountant, think twice about where you are getting your advice. Who do you want handling your financial and business matters?

If your accountant isn't a CPA, it's time to seek professional help.

Look to business associates, friends and family members to get your board started. DO NOT LOOK FOR "YES" PEOPLE, you know, those that always say YES to you because you are the boss. Business owners from non-competing businesses similar in type and size to yours could be great advisors to you. Look for members with a broad range of business experience.

Answer: Generally, alimony is deductible by the person who pays it and taxable income to the person that receives it. However, child support is neither deductible by the payor nor is it taxable to the recipient.

TAX TIPS AND FACTS is published periodically by Roger A. Kahan, CPA. Subscription is free to clients, prospective clients and friends of Roger A. Kahan, CPA. If you know of someone interested in a subscription to TAX TIPS AND FACTS allowing him or her to obtain valuable comments on national, Massachusetts or local tax issues, call (781) 963-RAK-1.