Hi, Website Visitor. Here are your Articles for July 23, 2008.
Rea & Associates, Inc. Announcements
Know Your Limits: How Much of Your Bank Account is Covered by FDIC Insurance?
With the recent failure of IndyMac bank, it is a good time to review the limits of bank assets that are covered by FDIC (Federal Deposit Insurance Corp.).
Hiring new employees can be risky business for a small business owner. After spending a great deal of money and years building a business, it can all be damaged or lost in an instant with the wrong actions of an employee. By taking the time to fully investigate the background of a potential new hire, you'll be better able to know whom you're hiring and save the business's reputation and thousands of dollars.
Studies have shown that more than half of a business owner's net worth is tied up in the ownership of their closely-held business. But they spend more time and money in managing their liquid assets (stocks, bonds and mutual funds), which are easy to value and do not have the large potential for growth like their company does. They hire investment managers who assist them in the management of these liquid investments and pay them management fees of 1 to 2 percent of assets under management.
Have you contributed a motor vehicle, boat or airplane that has a claimed value of more than $500? If so, the donee organization is required to provide you with either Copies B and C of Form 1098-C or a "contemporaneous written acknowledgement" for your tax records.
We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.
It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.
Pursuant to Circular 230 promulgated by the Internal Revenue Service, if this email, or any attachment hereto, contains advice concerning any federal tax issue or submission, please be advised that it is not intended or written to be used, and that it cannot be used, for the purpose of avoiding federal tax penalties unless otherwise expressly indicated.
419 West High Avenue New Philadelphia, OH 44663-5120