Common Sense for Your Dollars and Cents | SCACPA Financial Literacy Outreach Initiatives

Financial Literacy Resources Common Sense for Your Dollars and Cents

Did You Know?

• 70% of all Americans live paycheck to paycheck.

• In 1929, only 2% of Americans had a mortgage and by 1962 only 2% did not have a mortgage.

• The typical household has more than $38,000 in debt.

• 55% of American savings is a negative amount.

• Personal finance is the #1 stress factor in the workplace.

• 9 out of 10 of us buy things we cannot afford.

• 90% of solving a problem is realizing there is one.

• 80% of students have credit card debt before they even have a job.

• Few people have the courage to participate in a workshop like this one today.

• The average millionaire drives a two year old car.

• We tend to worry about our money and health after they are gone.

• The Joneses are broke – don’t try to keep up with them!

• If you are a jerk and you become wealthy, you will become the king of jerks.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Top 15 Questions About Financial Literacy

1.

If you had an emergency that cost $5,000 to $10,000 do you know how you would pay for it and if so, how?

2.

Do you know if you credit card has a variable rate?

3.

Do you have a budget – in writing?

4.

Do you put money away for savings each month?

5.

Can income tax be charged on the interest earned from a bank savings account?

6.

If you had a bad loan payment with one bank will it be considered when you apply for a loan with another bank?

7.

If you were going to buy a house what is the normal amount you would have to put down to get a loan?

8.

Do you know how much money you will need to retire at your desired age?

9.

What is the average amount of credit card debt for Americans?

10.

Do you feel like you’re in control of your money?

11.

Do you have financial goals – in writing?

12.

Do you have an adequate emergency fund – of at least three to six months of income?

13.

Do you regularly track your spending using a method like a receipt can, ledger, envelopes, account book or computer program?

14.

Do you talk with family members amount money and financial goals?

15.

Have you calculated your net worth in the past year?

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

My SMART Financial Goals

Short‐term goals:

Example: down payment for a new car

Amount to x Target Estimated save each Date/Time Cost month Frame $280/month x 18 months $5,040

Medium‐term goals:

Amount to save each month

x Target Estimated Date/Time Cost Frame

Amount to save each month

x Target Estimated Date/Time Cost Frame

Long‐term goals:

S M A R T

= = = = =

Smart Measurable Adjustable Realistic Time‐oriented

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Why should you plan before each paycheck?

• • • •

You earned it.

You worked hard for it.

If you don’t tell it where to go . . .

You’ll wonder where it went!

Tips for Successful Budgeting Whether you are suddenly faced with a new financial challenge, or simply trying to save money, these tips can help you achieve your goals.

Begin by creating a realistic budget plan: • After you’ve paid the last installment on your • Know what bills are due and when. car or other loan, regularly add the same amount you’ve been paying to your savings.

• A checking account will provide an easy way • If you get an income tax refund, deposit it in to pay bills and a way to help you keep track your savings. of what you spend.

• Save your overtime pay instead of spending it.

• Ask the electric and gas companies if you can get on their budget plan or average payment • When you get a raise, save it. plan.

• Put gifts of money received for birthdays, the • Know how you spend your money. Get in the holidays, or other special occasions in savings. habit of keeping receipts. Categorize your • Be sure all of your money is working for you. expenses and look for ways you can Deposit extra sums of cash immediately. economize.

• Adopt a short‐term “austerity” program • Plan for large, periodic expenses. Make a during which you save as much a possible. Buy budget calendar showing the approximate nothing unless you really need it. Cut out amount of these expenses and when they’re movies, eating out, entertaining or other due. expenses and deposit what you save.

• Budget for regular maintenance and

unexpected repairs.

Housing: • Adhere to a regular savings plan. Many • Do your own repairs. financial advisors suggest saving 5% of your • Be conscious of utilities usage – dim or turn take‐home pay. off lights, conserve hot water, turn off air • Always keep an emergency fund on hand. conditioning in the cooler months, limit long • Plan ahead for major purchases rather than distance phone use. making impulsive decisions.

• Plan meals.

• Shop garage sales.

Tricks to build your savings: • Make your own cleaning supplies.

• Save coins from your daily change. Put the • Buy do‐it‐yourself repair books and videos for coins in a piggy bank. You won’t miss them minor home repairs. and you’ll be surprised how quickly they add • Put together a seasonal inspection checklist up. for your home and car to prevent costly repairs in the future.

• Recycle: towels, glass cups.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Food: • Pack lunch.

• Cut down on eating out.

• Consider generic foods and use coupons.

• Save and eat leftovers.

• Use less tender cuts of meat.

• Limit shopping to once a week.

• Plan menus, make a grocery list.

Transportation: • Use public transportation.

• Carpool.

• Get rid of one car, keep the smaller, more fuel‐efficient car.

Recreation and Entertainment: • Seek out family‐oriented, inexpensive activities; use public parks and picnic areas.

• Give up smoking and drinking.

• Take vacations at home.

• Eliminate cable TV.

Personal: • Select reasonably priced cosmetics and toiletries.

• Cut your children’s hair.

• Groom your own pet.

Miscellaneous: • Have legal aid evaluate alimony payments.

• Determine if the family benefits from two incomes

Take time to consider and major expenses you may have this year • • • •

Is your car going to need major work?

Perhaps your refrigerator won’t last until 2011.

Make a list and then calculate how much money you will need to save from each paycheck to cover these future expenses.

Savings in advance can mean not using credit for major expenses.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Monthly Income After‐tax salary, Social Security

$

Other (e.g., child support, rental income) $

Monthly Expenses ‐‐Housing Mortgage/rent

$

Utilities (e.g., phone, gas, electric)

$

Property taxes

$

Maintenance and supplies

$

Groceries

$

Dining out

$

Fuel and maintenance

$

Other (e.g., tolls, parking, bus)

$

Child care/baby‐sitters

$

Education expenses

$

Auto payments

$

Credit card payments

$

Other debt payments

$

‐‐Food

‐‐Transportation

‐‐Child care/education

‐‐Consumer debt

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

‐‐Clothing Purchases

$

Alterations, laundry, dry cleaning

$

Medical/dental insurance

$

Auto insurance

$

Homeowners insurance

$

Other insurance premiums

$

Entertainment, vacations, travel

$

Other

$

‐‐Insurance premiums

‐‐Miscellaneous

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Where Does Your Money Go?

Cost per Item

Cost per Day

Example: Soda $0.75 Cigarettes Gourmet Coffee Lunch (5 days/week)

Cost per Week

$3 $5

$5.25 (7 days) $21 $35

$8

$56

Cost per Month $22.50 (30 days)

Cost per Year $273.75 (365 days)

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

10 Ways to Save Money at the Grocery Store Find out easy ways to save cash on your food shopping bills

By Amy Brantley, posted June 1, 2009 from Associated Content

Everyone's heard of the typical ways to save money at the grocery store. You know to use coupons, stick to your list and try generic products. Isn't it time for more ideas? The following tips are sure to save you even more money on your next shopping trip.

1. Sign up for store newsletters: Store newsletters are packed with information. You'll find recipes, information about promotions, and even coupons. If your grocery store doesn't offer a newsletter, check its Web site for money saving information.

2. Promotions: Grocery stores and manufacturers often offer promotions to help customers save.

Some of the ways to save money include free products, gift certificates and special coupons. Keep your eyes peeled for promotions in newspapers, on manufacturer Web sites and in stores.

3. Join online services: If you have a hard time keeping up with coupons or matching them up with sales, there are Web sites that can help. Groceryguide.com provides a free service that allows you to compare local grocery store ads with current coupons. You can even print coupons from the site.

4. Plan ahead: It pays to plan your grocery shopping trip carefully. This includes checking your pantry and the newspapers and making a menu. It's important that your menu revolves around what you have on hand and what grocery stores have on sale.

5. Fill up before shopping: One of the biggest mistakes you can make is to go to the store hungry.

Going to the store on an empty stomach almost always leads to making several impulse buys.

Instead of being seduced by the candy aisle, why not try shopping shortly after meal time? Your wallet will thank you.

6. Check markdowns: One of the best ways to save money is to check for markdowns. Grocery stores often reduce the price of meat, produce and bakery items a few days before they expire. Most of the time, these products have a few more days left and are perfectly fine if used or frozen by the expiration date.

7. Look for clearance items: Sometimes there are items that just don't sell very well. When this happens, grocery stores have closeouts or place the items in a clearance bin. There is nothing wrong with them other than their lack of popularity with shoppers. Grocery stores simply need to get rid of the product to make room for another.

8. Compare unit prices: Many assume that larger packages give the consumer a better price, but this isn't always true. Carry a calculator with you to check the price per unit to make sure you're getting the best deal. If you're lucky, your local grocery store will provide these prices on the shelf price tag.

9. Don't fall for "sales": It's true that grocery stores often put sale items on the end of aisles, but that doesn't mean that everything there is on sale. Also, don't be fooled by X for $X sales. The items aren't always less expensive; sometimes they are even marked up!

10. Check nongrocery stores: From your neighborhood Target and Wal‐Mart stores to warehouse stores such as Sam's Club and Costco, merchants that don't specialize in food often have great

deals available on everything from milk to pre‐packaged foods.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

10 Ways You Can Save Gas

1.

Go the speed limit. Use cruise control. Speed limits are calculated for maximum safety – they'll also reward you with maximum gas mileage. You can get up to 20 percent more mileage traveling 55 mph than 70 mph. Using cruise control provides additional gas savings.

2. Drive evenly. Avoid hard stops. Quick starts burn gas while hard stops also cost you. Take your foot off the accelerator and coast a bit before stopping for a traffic light or a stop sign.

3. Avoid idling and rush hour traffic. You're burning fuel while idling – up to a gallon every hour. So, avoid rush hour traffic when possible.

4. Open windows at slow speeds. Use A/C on highways. Around town, turn your air conditioning off and roll down the windows. On the highway, open windows create drag at speeds of 40 mph or more, so roll them up and use the air.

5. Remove junk from the trunk. Added weight in your vehicle affects fuel economy, so take unnecessary items out of your trunk.

6. Fill up when it's cool and before holidays. Cooler temperatures in the early morning or late evening create less vapor. Also, getting a fill‐up three days before a holiday will help you save on the per‐gallon price at the pump.

7. Don't top off gas and tighten the cap. When buying gas, stop when the pump shuts off automatically. And remember, your tank needs both fuel and fumes, so tighten the gas cap after every fill‐up.

8. Use the correct fuel grade. Use the fuel grade recommended by your vehicle manufacturer. In addition, TOP TIER Detergent Gasoline is even better for your vehicle. It is a class of gasoline with enhanced detergency, that exceed detergent requirements imposed by the EPA. It meets voluntary deposit control standards developed by four automotive companies.

9. Don't accelerate up hill. Build up speed before an incline, and then maintain it on the way up. Coast on the way down for additional fuel economy.

10. Avoid rooftop carriers. Approximately one quarter of each gallon of gas is needed to overcome wind resistance, so avoid carrying things on your roof. If necessary, use an aerodynamic carrier to help minimize drag.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

(Mostly) Painless Ways to Save Money Whether you want to save towards your goals or pay off your debts, you’ll get there faster if you can free up more income. Think you’re already doing all that you can? Try some of these strategies, and you’ll be amazed at the savings!

Remember the difference between needs and wants?

You NEED to eat lunch during your workday, but going out to a restaurant is a WANT. To find the money to reach your goals (the important wants!) be on the lookout for wants masquerading as needs. There are really two methods to increase cash flow – either decrease spending or increase income. We’ve got some great ideas to do both.

GROCERIES

INSURANCE

 Shop with cash and a list – it makes you a

 Increase your deductibles.  Combine auto and homeowners with one

more careful shopper.

 Use coupons – you don’t have to be a fanatic to save $10-30 a week.

 Set a vegetarian menu once a week – meat is more expensive.

 Shop the perimeter of the store, where most of the “raw” foods are (dairy, meat, produce) – processed foods cost more.

 Brown bag your lunches to work or school at least twice a week – can save $40-80 per month.

 Bring your own six-pack of soda to work each week instead of buying from the vending machines – save $125 per year!

ENTERTAINMENT

 Check your cable bill – cancel services & channels not used often.

 Rent a video and make your own popcorn instead of going to the movies.

 Shop at used bookstores – or use your local library.

 Eliminate subscriptions and memberships that you no longer use or enjoy.

 Have potluck dinners with friends and

company for discounts.

 Reduce homeowners insurance limit to actual cost of rebuilding.

 Shop around every two years to make sure you’re getting a good rate.

 Drop or reduce coverage you may be able to do without, such as uninsured motorist and medical expenses for others!

EMPLOYEE BENEFITS

 Take advantage of flexible spending accounts

(also known as cafeteria or Section 125 plans). These allow you to reduce your taxable income for day care and medical expenses (including deductibles, prescription glasses, prescriptions, orthodontia, etc.).

 It’s always a good idea to maximize your

401(k) contributions. If you can’t afford that level, make sure you at least contribute enough to receive the maximum company match.

 Need life insurance? Check your benefits

office for group term insurance rates, which may be less than buying an individual policy.

neighbors instead of going out to expensive restaurants so often.

©2010 Financial Finesse, Inc. All rights reserved.

This document contains confidential and proprietary information of Financial Finesse, Inc. and is intended solely for use of the intended recipient. Unauthorized reproduction or distribution is strictly prohibited. The information contained in this document is not to be construed as advice. If you have questions about your financial situation, you should contact a financial professional.

CLOTHES

OR INCREASE YOUR MONTHLY INCOME

 Buy clothes at end of season sales for best

 Take on a second job.  Rent out a spare room to a college student.  Turn a hobby into a source of income – sell

discounts.

 Shop second hand stores – particularly for kids clothes.

 Take clothes that don’t fit to a consignment store – get cash or shop!

MISCELLANEOUS

 Take advantage of low interest on credit card offers, even if only for 6 months.

 Call your credit card company and ask if they

will reduce your interest rate and/or fees – tell them you are considering a transfer to a new card.

 Get receipts for all charitable contributions;

your crafts.

   

Volunteer for overtime.

Take classes that qualify you for a promotion.

Teach adult education classes.

Turn a special skill into freelance income (computer, carpentry or gardening are good candidates for this type of work).

 If you expect to get a tax refund, increase the

number of allowances on your W-4 to increase your take home pay now.

 Change your asset allocation to more incomeproducing investments.

donated items can be valued higher than their “yard sale” value.

 Quit smoking (or at least cut back)! – If you

stop smoking three packs a week you’ll save about $60 a month.

 Give up that “designer” coffee and bring your

own from home – save over ten bucks a week!

 Declare a Frugal Week once a month – no eating out, no unnecessary purchases.

 Shop yard sales for household items, bikes, sporting goods.

©2010 Financial Finesse, Inc. All rights reserved.

This document contains confidential and proprietary information of Financial Finesse, Inc. and is intended solely for use of the intended recipient. Unauthorized reproduction or distribution is strictly prohibited. The information contained in this document is not to be construed as advice. If you have questions about your financial situation, you should contact a financial professional.

The Ultimatest Grocery List! {Compliments of www.grocerylists.org} FOODSTUFFS Fresh vegetables

 Asparagus  Broccoli  Carrots  Cauliflower  Celery  Corn  Cucumbers  Lettuce / Greens  Mushrooms  Onions  Peppers  Potatoes  Spinach  Squash  Zucchini  Tomatoes*  ________________  ________________

Fresh fruits

 Apples  Avocados  Bananas  Berries  Cherries  Grapefruit  Grapes  Kiwis  Lemons / Limes  Melon  Nectarines  Oranges  Peaches  Pears  Plums  ________________  ________________

Condiments / Sauces  BBQ sauce  Gravy  Honey  Hot sauce  Jam / Jelly / Preserves  Ketchup / Mustard  Mayonnaise  Pasta sauce  Relish  Salad dressing  Salsa  Soy sauce  Steak sauce  Syrup  Worcestershire sauce  ________________  ________________

Various groceries

 Bouillon cubes  Cereal  Coffee / Filters  Instant potatoes  Lemon / Lime juice  Mac & cheese  Olive oil  Packaged meals  Pancake / Waffle mix  Pasta  Peanut butter  Pickles  Rice  Tea  Vegetable oil  Vinegar  ________________  ________________

Canned foods

 Bagels  English muffins  Chip dip  Eggs / Fake eggs  Fruit juice  Ready-bake breads  Tofu  Tortillas  ________________  ________________

 Applesauce  Baked beans  Broth  Fruit  Olives  Tinned meats  Tuna / Chicken  Soup / Chili  Tomatoes  Veggies  ________________  ________________

Frozen

Spices & herbs

Refrigerated items

 Breakfasts  Burritos  Fish sticks  Fries / Tater tots  Ice cream  Juice concentrate  Pizzas  Popsicles  Sorbet  TV dinners  Vegetables  Veggie burgers  ________________  ________________

 Basil  Black pepper  Cilantro  Cinnamon  Garlic  Ginger  Mint  Oregano  Paprika  Parsley  Red pepper  Salt  Vanilla extract  ________________  ________________

Dairy

 Butter / Margarine  Half & half  Heavy cream  Milk  Sour cream  Whipped cream  Yogurt  ________________  ________________

Cheese

Baked goods

 Bagels / Croissants  Buns / Rolls  Cake / Cookies  Donuts / Pastries  Fresh bread  Pie! Pie! Pie!  Pita bread  Sliced bread  ________________  ________________

 Bleu cheese  Cheddar  Cottage cheese  Cream cheese  Feta  Goat cheese  Mozzarella  Parmesan  Provolone  Ricotta  Sandwich slices  Swiss  ________________  ________________

Baking

Meat

 Candy / Gum  Cookies  Crackers  Dried fruit  Granola bars / Mix  Nuts / Seeds  Oatmeal  Popcorn  Potato / Corn chips  Pretzels  ________________  ________________

 Bacon / Sausage  Beef  Chicken  Ground beef / Turkey  Ham / Pork  Hot dogs  Lunchmeat  Turkey  ________________  ________________

Seafood

 Catfish  Crab  Lobster  Mussels  Oysters  Salmon  Shrimp  Tilapia  Tuna  ________________  ________________

Beverages

 Beer  Club soda / Tonic  Champagne  Gin  Juice  Mixers  Red wine / White wine  Rum  Saké  Soda pop  Sports drink  Whiskey  Vodka  ________________  ________________

 Baking powder / Soda  Bread crumbs  Cake / Brownie mix  Cake icing / Decorations  Chocolate chips / Cocoa  Flour  Shortening  Sugar  Sugar substitute  Yeast  ________________  ________________

Snacks

Themed meals

 Burger night  Chili night  Pizza night  Spaghetti night  Taco night  Take-out deli food  ________________  ________________

 HOUSEHOLD Personal care

 Antiperspirant / Deodorant  Bath soap / Hand soap  Condoms / Protection  Cosmetics  Cotton swabs / Balls  Facial cleanser  Facial tissue  Feminine products  Floss  Hair gel / Spray  Lip balm  Moisturizing lotion  Mouthwash  Razors / Shaving cream  Shampoo / Conditioner  Sunblock  Toilet paper  Toothpaste  Vitamins / Supplements  ________________  ________________

Medicine

 Allergy  Antibiotic  Antidiarrheal  Aspirin  Antacid  Band-aids / Medical  Cold / Flu / Sinus  Pain reliever  Prescription pick-up  ________________  ________________

Kitchen

 Aluminum foil  Napkins  Non-stick spray  Paper towels  Plastic wrap  Sandwich / Freezer bags  Wax paper  ________________  ________________

Cleaning products

 Air freshener  Bathroom cleaner  Bleach / Detergent  Dish / Dishwasher soap  Garbage bags  Glass cleaner  Mop head / Vacuum bags  Sponges / Scrubbers  ________________  ________________

Office supplies

 CDRs / DVDRs  Notepad / Envelopes  Glue / Tape  Printer paper  Pens / Pencils  Postage stamps  ________________  ________________

Carcinogens

 Arsenic  Asbestos  Cigarettes  Radionuclides  Vinyl chloride

Other stuff

 Automotive  Batteries  Charcoal / Propane  Flowers / Greeting card  Insect repellent  Light bulbs  Newspaper / Magazine  Random impulse buy  ________________  ________________

Other

_________________ _________________ _________________ _________________ _________________ _________________

Baby stuff

 Baby food  Diapers  Formula  Lotion  Baby wash  Wipes  ________________  ________________

Pets

 Cat food / Treats  Cat litter  Dog food / Treats  Flea treatment  Pet shampoo  ________________  ________________

IMPORTANT: Please leave this list in the cart when you’re done :-) If found, please mail to Grocerylists.org, P.O. Box 752, St. Louis, MO 63188 USA Grocerylists.org is the world’s largest online collection of found grocery lists. Visit our blog, our hilarious Top 10 lists, learn about our book of shopping lists or just waste time browsing the thousands of discarded lists in the collection: www.grocerylists.org.

When you go...

• Take canvas bags!

• Plastic bags to recycle?

• Clip coupons!

• Propane refill for grill?

• Need to return anything?

Before you check out...

• Need ice?

• Rent a movie?

• Stock up on sale items?

• Use customer reward card?

• Hand over your coupons!

THE ULTIMATEST GROCERY LIST: THE DELUXE VERSION (v2.5) ©2007-2009 BILL KEAGGY & GROCERYLISTS.ORG *Yes, I know tomatoes technically are classified as fruits, not vegetables. Also, this list is comprehensive but not complete. I squeezed everything I could into one page. Friendly suggestions for improvements are welcome.

Credit: Know the Enemy • • • • •

Discover has 50 million credit card accounts (50,000,000)!

Citibank Visa has 49 million American Express has 48 million Sears has 63 million In 2003 credit card companies mailed 4 billion (4,000,000,000) offers to 93 million houses – 43 credit offers per household.

• Capital One spends $70 million every three months on credit card offers.

• Citibank spends more than $100 million each year marketing to students!

Tips For Maintaining Good Credit: 8 golden rules to remember Here are some of the best practices you can follow to maintain and strengthen your credit rating: 9 Pay Bills on Time: The payment experience that creditors and suppliers have with you impacts your personal and business credit reports. This, in turn, impacts your ability to obtain credit in the future.

9 Pay Careful Attention to Cash Flow: Don’t spend business profits until they are actually realized. Budget your credit card and other credit payments so you don’t take on more credit than you can afford.

9 Keep Business and Personal Expenses Separate: Either use a credit card just for business or make sure that your records are clear and receipts have sufficient explanations.

9 Be Choosy: Read the small print on credit offers, and shop for the best terms. A small difference in Annual Percentage Rate (APR) can make a huge difference when you’re running a company. Review all of the perks, fees and interest rate options before signing up for credit.

9 Know Exactly How Much You Buy with Credit: Keep a detailed record of your spending on credit cards just like you do with checks. Save copies of receipts and compare charges when monthly statements arrive. If you see mistakes, call your credit card issuer right away.

9 Bill Clients and Customers Promptly: Being punctual will help keep your cash flow moving.

9 Don’t Overextend Your Credit: The fewer accounts you take on—whether loans or credit cards—the better it will be for your credit rating and your business health.

9 Check Your Credit Reports at Least Once a Year: Look at both personal and business reports to make sure they’re accurate. Serious errors that may make it impossible to get credit in the future may appear at any time. The sooner you find an error, the faster you’ll be able to correct it.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Credit Reports What type of information is on your credit report?

• • • • • • •

Where you work Where you live How you pay your bills How much you owe different companies Your monthly payment amounts Whether you have been sued Whether you have filed for bankruptcy

Why do companies run credit reports on you?

• •

To decide the risk associated with giving you a loan The higher the risk, the higher interest rate you pay

What are your rights?

• • • • • • • • • •

You must be told if your credit report is used to deny your application for credit, insurance or employment You have the right to know what information is on your credit report You have the right to ask for a credit score but you may have to pay for it. Your credit score is the number assigned to your credit worthiness.

You have the right to dispute information in your credit report.

You have the right to have the incorrect information corrected.

Once the information is corrected, you have the right to a free copy of the corrected report. You also have the right to request that they send a corrected copy to anyone who has received your report within the past six months.

Negative information over seven years old should not be reported against you. This is ten years if you have filed for bankruptcy.

Your credit report is limited to those with a valid need for the information, such as employers, creditors, landlords or insurers.

You have the right to limit the credit offers you receive by calling 1‐888‐5‐OPTOUT. If you are a victim of identity theft you have additional rights that make it harder for people to get credit in your name.

What are some negative items that can show up on my credit report?

• • • •

Bankruptcy – reported for ten years Criminal convictions – reported without a time limit Unpaid student loans – reported for seven years Lawsuits or judgments’ against you – seven years or until status of limitations expires

How can I improve my credit report?

• • • •

Control spending Prepare realistic budgets Consolidate your debts and stop using credit Contact your creditor and ask if you can work out a payment plan before your account is turned over to a collector.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Sample Letter to Credit Report Company

Date

Your Name Your Address

Credit Report Company Name Address

To Whom It May Concern:

I am writing to dispute the following information in my file. The items I dispute are circled on the attached copy of my credit report.

The item

is incorrect because

. I am requesting that this item be corrected.

Enclosed are copies of

which document why this information is incorrect. Please investigate this item and correct or delete it as soon as possible.

Sincerely,

Your name

List of documents enclosed:

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Annual Credit Report Request Form You have the right to get a free copy of your credit file disclosure, commonly called a credit report, once every 12 months, from each of the nationwide consumer credit reporting companies - Equifax, Experian and TransUnion.

For instant access to your free credit report, visit www.annualcreditreport.com.

For more information on obtaining your free credit report, visit www.annualcreditreport.com or call 877-322-8228.

Use this form if you prefer to write to request your credit report from any, or all, of the nationwide consumer credit reporting companies. The following information is required to process your request. Omission of any information may delay your request.

Once complete, fold (do not staple or tape), place into a #10 envelope, affix required postage and mail to: Annual Credit Report Request Service P.O. Box 105281 Atlanta, GA 30348-5281.

Please use a Black or Blue Pen and write your responses in PRINTED CAPITAL LETTERS without touching the sides of the boxes like the examples listed below:

Social Security Number:

Date of Birth:

-

-

/ Month

/ Day

Year

Fold Here

Fold Here

M.I.

First Name

JR, SR, III, etc.

Last Name

Current Mailing Address:

House Number

Street Name

Apartment Number / Private Mailbox

For Puerto Rico Only: Print Urbanization Name

City

State

ZipCode

Previous Mailing Address (complete only if at current mailing address for less than two years):

House Number

Street Name Fold Here

Fold Here

For Puerto Rico Only: Print Urbanization Name

Apartment Number / Private Mailbox

City

State

Shade Circle Like This > Not Like This >

I want a credit report from (shade each that you would like to receive): Equifax Experian

ZipCode

Shade here if, for security reasons, you want your credit report to include no more than the last four digits of your Social Security Number.

TransUnion

If additional information is needed to process your request, the consumer credit reporting company will contact you by mail.

Your request will be processed within 15 days of receipt and then mailed to you.

Copyright 2004, Central Source LLC

31238

The Snowball

Company Owed

Total Amount Due

Minimum Payment

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Extra Paid on Date Paid Off! Lowest Debt

Taxes

IRS Volunteer Income Tax Assistance Program (VITA) • • • •

Free income tax preparation and free electronic filing.

For persons making $49,000 or less a year who are unable to complete their own return.

Only basic returns are prepared.

No appointment needed. First come, first serve

http://www.irs.gov/individuals/article/0,,id=219171,00.html A Volunteer Income Tax Assistance site listing is now available on IRS.gov. This list helps taxpayers locate nearby volunteer sites that help low‐ to moderate‐income (generally, $49,000 and below) people who cannot prepare their own tax returns. IRS‐certified volunteers sponsored by various organizations receive training to help prepare basic tax returns in communities across the country. VITA sites are generally located at community and neighborhood centers, libraries, schools, shopping malls, and other convenient locations. Most locations also offer free electronic filing.

This site list does not include every VITA site. If you do not see one close to your immediate area, you may call the VITA site locator number at 1‐800‐906‐9887.

Items you need to bring to the VITA sites to have your tax returns prepared: • • • • • • • • •

•

Proof of identification Social Security Cards for you, your spouse and dependents and/or a Social Security Number verification letter issued by the Social Security Administration Birth dates for you, your spouse and dependents on the tax return Current year’s tax package if you received one Wage and earning statement(s) Form W‐2, W‐2G, 1099‐R, from all employers Interest and dividend statements from banks (Forms 1099) A copy of last year’s federal and state returns, if available Bank routing numbers and account numbers for Direct Deposit Total paid for daycare provider and the daycare provider's tax identifying number (the provider's Social Security Number or the provider's business Employer Identification Number) To file taxes electronically on a married‐filing‐joint tax return, both spouses must be present to sign the required forms.

South Carolina Association of Certified Public Accountants www.scacpa.org | 888.557.4814

Low Income Taxpayer Clinic List If you are a low income taxpayer who cannot afford professional tax assistance during audits of your federal income tax return, you may qualify for help from Low Income Taxpayer Clinics or other organizations that provide free assistance in tax disputes.

Low Income Taxpayer Clinics (LITCs) represent low income taxpayers before the Internal Revenue Service in audit, appeals, and collection issues, for free or for a nominal charge.

Low Income Taxpayer Clinics receive partial funding from the IRS. However, the clinics and their volunteers are completely independent of and are not associated with the federal government. These clinics are operated by nonprofit organizations or academic institutions.

These Federally-funded clinics are listed below. Each clinic independently decides if you meet its income guidelines1 and other criteria before it agrees to represent you.

Low income taxpayers also may be able to receive assistance from attorney referral systems operated by state bar associations, local societies of accountants, and other nonprofit tax professional organizations.

This notice is not, and should not be understood to be, a recommendation by the IRS that you retain a Low Income Taxpayer Clinic or other similar organization to represent you before the IRS. 1 The Department of Health and Human Services (HHS) publishes poverty guidelines. IRS Publication 3319, Grant Application Package and Guidelines lists income ceilings for low income representation and contains a table for a family unit from 1 to 5.

Size of Family Unit

Income Ceiling (250% of Poverty Guidelines)

1 2 3 4 5

$23,275 $31,225 $39,175 $47,125 $55,075 Low Income Taxpayer Clinics (LITCs)

State

City

Name

Languages Served

Alabama Alaska Arizona Arizona Arkansas California California California California California California California California California

Birmingham Anchorage Phoenix Window Rock Little Rock Fresno Los Angeles Los Angeles Los Angeles Los Angeles Orange Redwood City San Diego San Francisco

Lawson State College Alaska Business Development Center, Inc. Community Legal Services, Inc. DNA-People’s Legal Service, Inc. University of Arkansas at Little Rock Central California Legal Services, Inc. HIV & AIDS Legal Services Alliance (HALSA) Community Based Education and Development Filipino American Service Group, Inc. Korean Resource Center Chapman University School of Law Association of Cultural Advancement for Vietnamese University of San Diego School of Law Nihonmachi Legal Outreach

California California Colorado Connecticut Connecticut District of Columbia District of Columbia Delaware Delaware Florida Florida Florida Florida Florida Florida Georgia Georgia Georgia Georgia Hawaii

San Francisco Santa Ana Denver Hamden Hartford Washington Washington Wilmington Wilmington Daytona Beach Florida City Miami Pensacola Tallahassee Tampa Atlanta Atlanta Carrollton Hinesville Honolulu

San Francisco Bar Association Volunteer Legal Services Legal Aid Society of Orange County University of Denver College of Law Quinnipiac College School of Law University of Connecticut School of Law American University Central American Resource Center Delaware Community Reinvestment Action Council Legal Services Corporation of Delaware, Inc. Central Florida Legal Services, Inc. Coalition of Florida Farmworker Organizations, Inc. Legal Services of Greater Miami, Inc. Northwest Florida Legal Services, Inc. Legal Services of North Florida Bay Area Legal Services, Inc. Georgia State Foundation Women’s Economic Development Agency, Inc State University of West Georgia JC Visions and Associates, Inc. Hawaii Pro Bono Lawyer Project Legal Services of Hawaii

Hawaii Idaho Illinois Illinois Illinois Illinois Illinois Indiana Indiana Indiana Iowa Kansas Kansas Kansas Kentucky

Honolulu Moscow Chicago Chicago Chicago Chicago Chicago Columbus Indianapolis Valparaiso Des Moines Emporia Kansas City Lawrence Highland Heights Louisville Baton Rouge New Orleans Portland

Legal Aid Society of Hawaii University of Idaho Center for Economic Progress City Wide Tax Assistance Program Korean American Resource & Cultural Center Illinois Institute of Technology Loyola University Chicago School of Law Su Casa Columbus Neighborhood Christian Legal Clinic The Lutheran University Association d.b.a. Valparaiso University Legal Services Corporation of Iowa/Iowa Legal Aid Emporia State University El Centro, Inc. The University of Kansas Center for Research, Inc. Northern Kentucky University

English/Spanish Various Spanish Navajo/Hopi English English/Spanish/Hmong English/Spanish Russian/Armenian/Ukrainian/Farsi Tagalog/Llokano/Bisaya Korean English/Spanish/Vietnamese Vietnamese English/Spanish Korean/Japanese/Vietnamese/Cantonese/Mandarin/ Taiwanese/Tagalog/Illocano English English/Farsi/Spanish/Vietnamese English English/Spanish English/Spanish English/Spanish English/Spanish English/Spanish English/Spanish English/Spanish Creole/English/Spanish Creole/Haitian/Spanish English/Spanish/Vietnamese English/Spanish English/Spanish English/Spanish Spanish English English/Spanish Chuukese/English/Filipino/Hawaiian/Italian/Japanese/ Korea/Marshallese/Samoan and Vietnamese English/Japanese/Filipino English/Spanish English/Spanish English/Spanish Korean English/Spanish English English/Spanish Spanish Chinese/Korean/Mandarin/Polish/Russian/Spanish Spanish English/Spanish Spanish Arabic/Chinese/Hindi/Japanese/Korean Spanish

Legal Aid Society, Inc. (Volunteer Lawyer Program) Southern University Law Clinic Southeast Louisiana Legal Service Corporation Pine Tree Legal Assistance

Spanish English English/Spanish/Vietnamese English/Spanish

Kentucky Louisiana Louisiana Maine Pub 4134 (Rev. 5-2004)

Telephone Numbers (205) 925-1039 (800) 478-3474 (800) 852-9075 (928) 871-4151 (501) 324-9441 (559) 441-1611 (213) 201-1640 (323) 937-7772 (213) 487-9804 (323) 937-3718 (714) 628-2535 (408) 293-6906 (619) 260-7470 (415) 567-6255 (415) 575-3130 (800) 834-5001 (303) 871-6140 (203) 582-3238 (860) 570-5165 (202) 274-4144 (202) 328-9799 (877) 825-0750 (302) 575-0408 (386) 255-6573 (305) 247-4779 (305) 576-0080 (850) 432-3999 (850) 385-9007 (813) 752-1335 (404) 651-1412 (404) 853-7680 (770) 836-6445 (912) 877-4243 (808) 528-7050 (808) 536-4302 (877) 200-4455 (312) 252-0280 (312) 466-0771 (773) 506-9158 (312) 906-5070 (312) 915-7176 (812) 375-9370 (317) 415-5337 (888) 729-1064 (800) 332-0419 (620) 341-5393 (913) 281-1186 (785) 864-5665 (859) 572-6124 (502) 584-1254 (225) 771-3333 (504) 529-1000 (207) 942-8241 1

Low Income Taxpayer Clinics (LITCs) State

City

Name

Languages Served

Maryland Massachusetts Massachusetts

Baltimore Boston Waltham

Maryland Volunteer Lawyers Service Greater Boston Legal Services Bentley College

Michigan Michigan

Detroit East Lansing

Volunteer Accounting Service Team of Michigan Michigan State University-Detroit College of Law

Michigan Minnesota Minnesota Mississippi Missouri Missouri Missouri Montana Nebraska Nevada New Hampshire New Hampshire New Jersey New Jersey New Jersey New Mexico New York New York New York New York New York New York

Flint Minneapolis Minneapolis Greenville Kansas City Kansas City Springfield Missoula Omaha Las Vegas Concord Concord Bridgetown Hightstown Newark Albuquerque Albany Bronx Brooklyn Brooklyn Buffalo Elmsford

Legal Services of Eastern Michigan Mid-Minnesota Legal Assistance Regents of the University of Minnesota North Mississippi Rural Legal Services Budget and Financial Management Assistance University of Missouri Kansas City /KC Tax Clinic Southwest Missouri State University Montana Legal Services Association Nebraska Legal Services Nevada Legal Services, Inc. Legal Advice and Referral Center New Hampshire Pro Bono Referral System South Jersey Legal Services Accountants for the Public Interest NJ Rutgers, The State University of New Jersey New Mexico Voices for Children Albany Law School Legal Services for New York City LSNY-Bronx Bedford Stuyvesant Community Legal Services Corp.

South Brooklyn Legal Services, Inc Erie County Bar Association Volunteer Lawyers Project Westchester Community Opportunity Program, Inc.

English Chinese/Creo/Haitian/Spanish Arabic/English/Creole/Haitian/Italian/Portuguese/Russian and Spanish Arabic/Spanish Arabic/Bahasa/Chinese/French/German/Greek/Hindi/ Indonesian/MalayPolish/Spanish/Urdu Spanish/German Spanish/Somali/Russian/Arabic/Hmong/Oromo/Amharic English/Somoli/Hmong/Hispanic/Vietnamese English Spanish English Chinese/Korean/Spanish/Thai/Vietnamese English English/Spanish Spanish English/Spanish English Spanish English/Spanish English/Spanish Spanish/Navajo/Pueblo Dialects English English/Spanish Spanish Russian/Spanish English English/Spanish

New York New York New York New York New York New York New York New York New York New York North Carolina North Carolina North Dakota Ohio Ohio Ohio Ohio Ohio Ohio Ohio Oklahoma Oklahoma

Flushing Ithaca Jamaica Long Beach Long Beach New York New York Rochester Rochester Syracuse Charlotte Greenville New Town Akron Cleveland Cleveland Columbus Columbus Painesville Toledo Oklahoma City Tahlequah

Young Korean American Service & Education Center Ithaca College Queens Legal Services Corporation Circulo De La Hispanidad, Inc. Project Challenge of Long Island NY, Inc. Fordham University School of Law The Legal Aid Society Rural Opportunities, Inc. Volunteer Legal Services Project of Monroe County Syracuse University College of Law Legal Services of Southern Piedmont, Inc. Legal Aid of North Carolina, Inc Legal Services of North Dakota Community Legal Aid Services Friendship Foundation of American Vietnamese, Inc. The Legal Aid Society of Cleveland The Legal Aid Society of Columbus Ohio State Legal Services Association Lake Erie College Advocates for Basic Legal Equity, Inc. Oklahoma Indian Legal Services Inc. Northeastern State University

Korean Chinese/Russian/Spanish Chinese/Creole/Hindi/Korean/Russian/Spanish/Urdu Spanish English/Spanish English Spanish Spanish English/Spanish English English/Spanish English/Spanish Arikara/English/Hidatsa/Mandan English Cambodian/Lao/Spanish/Vietnamese English English/Spanish English/Spanish English English/Spanish Shawnee English

Oklahoma Oregon Oregon Pennsylvania Pennsylvania Pennsylvania Pennsylvania Puerto Rico Rhode Island Rhode Island South Carolina South Dakota Tennessee Texas Texas Texas Texas Texas Texas Utah Vermont Vermont Virginia Virginia Virginia Virginia Washington Washington West Virginia West Virginia Wisconsin Wisconsin

Tulsa Hillsboro Portland Philadelphia Pittsburgh Pittsburgh Villanova Arecibo Johnston Providence Greenville Rapid City Oak Ridge Arlington Corpus Christi Houston Houston Lubbock Weslaco Salt Lake City Barre Burlington Charlottesville Falls Church Richmond Falls Church Seattle Spokane Morgantown Wheeling Milwaukee Milwaukee

Community Action Project of Tulsa County Legal Aid Services of Oregon Northwestern School of Law Philadelphia Legal Assistance Center Duquesne University School of Law The University of Pittsburgh School of Law Villanova University School of Law Oficina para la Promocion y el Desarrollo Humano Rhode Island Tax Clinic, Inc. Rhode Island Legal Services, Inc. The South Carolina Center for Equal Justice Technology for the Rural Enhancement of Communities Legal Aid Society of Middle Tennessee and the Cumberlands The Legal Aid of Northwest Texas Latino Education Project, Inc. Centro Familiar Cristiano, Inc. Houston Volunteer Lawyers Program, Inc. Texas Tech University School of Law Texas Rural Legal Aid, Inc. Salt Lake Community College Central Vermont Community Action Council Vermont Legal Aid, Inc Legal Aid Justice Center Boat People S.O.S, Inc. Community Tax Law Project Legal Services of Northern Virginia University of Washington School of Law Gonzaga University School of Law Clinical Law Program, West Virginia University Wheeling Jesuit University Legal Aid Society of Milwaukee, Inc. University of Wisconsin of Milwaukee

English/Russian/Spanish/Ukrainian/Vietnamese Spanish English English/Spanish English English English/Spanish Spanish English/Spanish Spanish/Portuguese All Languages English English/Spanish Spanish Spanish English/Spanish Bosnia/Hungarian/ Spanish English English/Spanish English/Spanish Bosnian/Congolese/Vietnamese English English/Spanish English/Vietnamese English/Spanish English/Spanish/Vietnamese English/Spanish/Russian/ Somali English/Spanish/Russian English English/Spanish English/Spanish English/Spanish

Pub 4134 (Rev. 5-2004)

Telephone Numbers (800) 510-0050 (617) 371-1234 (781) 891-2170 (313) 647-9620 (517) 336-8084 (810) 234-2621 (800) 292-4150 (612) 625-5515 (662) 335-8203 (816) 221-2034 (816) 235-6201 (417) 836-3007 (406) 543-8343 (877) 250-2016 (866) 432-0404 (603) 224-3333 (603) 228-6028 (800) 510-2492 (609) 918-0527 (973) 353-1685 (505) 244-9505 (518) 445-2328 (718) 928-3700 (718) 636-1155 (718) 237-5500 (716) 847-0662 (914) 592-5600 ext. 150 (718) 460-5600 (607) 274-3949 (718) 657-8611 (516) 889-3869 (516) 897-0599 (212) 636-7353 (212) 426-3013 (800) 888-6770 (585) 232-3051 (315) 443-4582 (704) 376-1600 (800) 682-4592 (877) 639-8695 (866) 584-2350 (216) 651-6748 (216) 687-1900 (866) 529-6446 (740) 594-3558 (440) 375-7121 (888) 534-0814 (800) 658-1497 (918) 456-5511 ext 2968 (918) 382-3200 (503) 648-7163 (503) 768-6500 (888) 541-1544 (412) 396-5877 (412) 648-1300 (888) 829-2546 (787) 817-6951 (401) 421-1040 (401) 274-2652 (888) 346-5592 (605) 390-4391 (865) 483-8454 (817) 649-4740 ((361) 980-0361 (281) 340-2400 (713) 228-0735 (800) 420-8037 (800) 369-9270 (801) 957-5576 (802) 479-1053 (800) 747-5022 (434) 977-0553 (703) 538-2190 (800) 295-0110 (703) 534-4343 (206) 543-3434 (509) 323-5791 (304) 293-7249 (866) 525-9416 (414) 727-5300 (414) 229-3232

2

The IRS, Taxes, and You The only certainties in life are death and taxes, only one of them has to be painful.

Refund anticipation loans, free tax help, tax scams, there are plenty of things to watch out for this tax season

Inside this Edition: Don’t use RALs Page 2 VITA Program Page 2 Avoiding Tax Scams Page 3 Email Tax Scams Page 4 Choosing a tax preparer Page 5

It’s tax time again, but before you start rifling through W-2 forms and wondering where you stashed those receipts, make sure you’re current with tax information.

And that doesn’t mean just understanding the newest changes in the tax code.

Inside this newsletter you’ll find useful information on everything from refund anticipation loans to tax scams to how to choose a tax preparer.

Mostly, however, we want you to be smart about your taxes.

While the best part of tax season is, of course, the refund, trying to speed up the process through a refund anticipation loan (RALs) is a bad idea. Refund Anticipation Loans, often referred to as “Fast Cash Refunds, “Express Money,” or “Instant Refunds,” are short-term loans that for a fee give you an advance on your expected tax refund.

When your tax refund does come, you must repay your loan with the refund. If you do not receive as much as you were expecting, you still owe the difference on your loan and any added interest.

Why hurry for a lot of worry? If you wait and e-file with the IRS you will receive your tax refund just seven to 10 days later, sometimes even sooner, than if you pay to borrow your own money with a refund anticipation loan.

If you need your money that quickly, be sure to check into the volunteer income tax

assistance (VITA) program which provides individuals and families free tax preparation, even e-filing their claims for them to expedite the process.

VITA operatives are also encouraged to seek an earned income tax credit for filers who meet the qualifications. This could mean a lot more money for you!

Unfortunately, there are also a whole bunch of new tax scams circulating in 2008 and a few old ones that simply will not go away.

Many of these new scams involve unsolicited e-mails that try to gain personal information from you that can be used to empty bank accounts, set up credit cards, and generally wreak financial carnage.

The IRS stresses that they will never send e-mails without your request or ask for you to provide them with personal information through e-mail. If you receive an e-mail claiming to be from the IRS and asking for personal information, it’s a scam!

Furthermore, you should never click on links within e-mails claiming to be from the IRS rather call 1.800.829.1040 to confirm the validity of the e-mail.

Ultimately, it’s important to stay on top of your taxes because you are responsible for your taxes.

Even if you pay a tax preparer to do your taxes for you, the information in your tax file is your responsibility, so don’t let an unscrupulous tax preparer lead you down the wrong path.

Remember, you will be the one held responsible. The information inside this newsletter will expand on these topics, as well as others, so this tax season will be as painless as possible.

Keep in mind your refund is just a few days away.

Digitized by South Carolina State Library

Page 2

Want more money?

Avoid using refund anticipation loans for tax returns How would you like to pay a super-high price to borrow money that already belongs to you?

Sounds ridiculous, right?

But that’s pretty much what happens to many folks at tax time in the crazy world of refund anticipation loans (RALs).

You may be tempted by tax-time advertisements for “Fast Cash Refunds,” “Express Money,” or “Instant Refunds.”

These ads will offer to get you your refund in just a day or two, or even on the spot. Beware! Many of these “fast refunds” are really LOANS, refund anticipation loans that are based on your tax refund money.

When you get a RAL, you’re borrowing against your tax refund money and it’s not cheap. Loan fees typically range from $30 to $90, which translates into annual percentage rates from 60% to over 700%.

If you paid those rates on all your borrowing, you’d probably go broke!

RAL fees, combined with tax All this to get your tax refund just preparation, electronic filing, and a few days earlier than you can for other fees can eat away a free from the IRS. big chunk of your Essentially you’re refund. lining someone else’s In addition to their pockets with YOUR high costs, RALs can be hard-earned money. risky. Since a RAL is a Worse, RALs are loan from a bank in often marketed to partnership with a tax people who need preparer, it must be money the most – lowrepaid even if the IRS and moderate-income denies or delays your workers who receive refund or if your refund the Earned Income is smaller than expected.

Tax Credit.

If you don’t pay back the RAL, the Refund Anticipation Loans Ways to avoid RALs lender can take actions only get your money to you and save at tax time: seven to 14 days faster than to hurt your credit • E-File with Direct e-filing with your tax preparer rating and may send Deposit – File your tax your account to a debt but can cost you hundreds of return electronically dollars. collector.

(E-File) to speed up In addition, when your refund. Tell the you apply for a RAL, you are giving IRS to deposit the refund directly the lender the right to grab your tax into your bank account. refund to pay for old tax loan debts Continued on Page Seven that the lender claims you owe.

VITA program offers free tax help for those who need it Puzzled by the tax law or which credits and deductions to take? Need assistance with your tax return?

You may want to visit a volunteer site. The IRS Volunteer Income Tax Assistance (VITA) Program or the Tax Counseling for the Elderly (TCE) Program offer free tax help if you qualify.

Trained community volunteers can help you with special credits, such as Earned Income Tax Credit (EITC), Child Tax Credit, and Credit for the Elderly for which you may qualify. In addition to free tax return preparation assistance, most sites also offer free electronic filing (e-filing).

Individuals taking advantage of

the e-file program will receive their refunds in half the time compared to returns filed on paper – even faster if you have your refund deposited directly into your bank account.

Volunteer Income Tax Assistance Program (VITA)

centers, libraries, schools, shopping malls, and other convenient locations.

Most locations also offer free electronic filing.

To locate the nearest VITA site, call 1.800.829.1040.

Free Tax Counseling for the

The VITA Program offers free tax Elderly (TCE) help to low- and moderate-income The Tax Counseling for the Elderly (generally, $40,000 and below) people (TCE) Program provides free tax help who cannot prepare their tax returns. to people age 60 and older. Trained Certified volunteers sponsored by volunteers from non-profit various organizations receive training organizations provide free tax to help prepare basic tax returns in counseling and basic income tax communities across the country. return preparation for senior citizens.

VITA sites are usually located at community and neighborhood Continued on Page Six Digitized by South Carolina State Library

Page 3

Don’t fall for these tax scams that get you nothing but trouble for a return whether a contact from the IRS is authentic, the taxpayer should call 1.800.829.1040 to confirm it.

Tax time is just around the corner and the South Carolina Department of Consumer Affairs and the IRS are urging you to please avoid these 12 popular tax scams.

The IRS warns that no matter who prepares the return, the taxpayer is ultimately responsible for its accuracy.

Trust Misuse

For years, unscrupulous promoters have urged taxpayers to transfer assets into trusts.

They promise reduction of income subject to tax, deductions for personal expenses and reduced estate or gift taxes.

However, some trusts do not deliver the promised tax benefits, and the IRS is actively examining these arrangements.

Zero Wages

In this relatively new scam a taxpayer “I’m sorry your Honor. I thought the 16th attaches to his or her Ammendment was never ratified, wages weren’t return either a Form 4852 (Substitute Form income, and that paying taxes was voluntary anyway.” previously assessed tax using Form W-2) or a “corrected” Form 1099 that 843. shows zero or little wages or other Many using this scam have not income. The taxpayer may include a previously filed tax returns, and the statement indicating the taxpayer is Inside this Edition: tax they are trying to have abated has rebutting information submitted to been assessed by the IRS through the the IRS by the payer.The Form 4852 Substitute for Return Program. or 1099 is usually attached to a “Zero Return.”

Zero Return

Promoters instruct taxpayers to enter all zeros on their federal income tax filings. In a twist on this scheme, filers enter zero income, report their withholdings and then write “nunc pro tunc” – Latin for “now for then” – on the return.

They also do this with amended returns in the hope the IRS will disregard the original return in which they reported wages and other income.

Form 843 Tax Abatement This scam is fairly new and rests on a faulty interpretation of the Internal Revenue Code. It involves the filer requesting abatement of

Phishing

This is a technique used by identity thieves to acquire personal financial data in order to gain access to the financial accounts of unsuspecting consumers, run up charges on their credit cards or apply for new loans in their names.

These Internet-based criminals pose as representatives of a financial institution and send out fictitious emails in an attempt to trick consumers into disclosing private information.

These scammers even pose as the IRS. Taxpayers should take note: The IRS does not use e-mail to initiate contact with taxpayers about issues related to their accounts.

If a taxpayer has any doubt

Frivolous Arguments

Promoters have been known to make the following outlandish claims: the Sixteenth Amendment concerning congressional power to lay and collect income taxes was never ratified; wages are not income; filing a return and paying taxes are merely voluntary; and being required to file Form 1040 violates the Fifth Amendment right against self-incrimination or the Fourth Amendment right to privacy.

Don’t believe these or other similar claims.These arguments are false and have been thrown out of court.

Return Preparer Fraud

Dishonest tax return preparers can cause many headaches for taxpayers who fall victim to their schemes.

Such preparers derive financial gain by skimming a portion of their clients’ refunds and charging inflated fees for return preparation services.

They attract new clients by promising large refunds. Taxpayers should choose carefully when hiring a tax preparer.

Continued onLibrary Page Seven Digitized by South Carolina State

Page 4

E-snare! IRS warns most new scams are through e-mail that information to gain access to the Nov. 7, 2007 — In a variation, an “Everyone should beware of these e-mail recipients' financial accounts. e-mail scam claims to come from the scam artists,” said Kevin M. Brown, The IRS does not send e-mails to IRS and the Taxpayer Advocate Acting IRS taxpayers soliciting contributions to Commissioner. a charitable cause.

“Always exercise Sept. 19, 2007 — Another recent caution when you e-mail scam tells taxpayers that the receive unsolicited IRS has calculated their "fiscal e-mails or e-mails activity" and that they are eligible to from senders you receive a tax refund of a certain don’t know.” amount. Taxpayers receive a page of, Recipients of or are sent to, a website (titled "Get questionable eYour Tax Refund!") that copies the mails claiming to appearance of the genuine "Where's come from the IRS Theives these days don’t use a crowbar to steal your money; they My Refund?" interactive page on the should not open simply log onto the Internet. Never give out any personal genuine IRS website. Like the real any attachments or information through e-mail.

"Where's My Refund?" page, click on any links taxpayers are asked to enter their contained in the eSSNs and filing status. However, the Service (a genuine and independent mails. Instead, they should forward phony webpage asks taxpayers to organization within the IRS whose the e-mails to phishing@irs.gov. enter their credit card account employees assist taxpayers with Since the establishment of the numbers instead unresolved tax mailbox last year, the IRS has of the exact ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ problems). received more than 17,700 e-mails amount of refund The e-mail from taxpayers reporting more than The IRS never sends as shown on their says that the 240 separate phishing incidents. To tax return, as the recipient is unsolicited e-mail to date, investigations have identified real "Where's My eligible for a host sites in at least 27 different taxpayers. NEVER! Refund?" page tax refund countries as well as in the United ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ does. Moreover, and directs States. the IRS does not the recipient The following is the freshest batch of send e-mails to taxpayers to advise to click on a link that leads to a fake tax scams the IRS warns taxpayers to them of refunds or to request be on the lookout for. The date in bold is IRS website. The IRS recommends financial information. that recipients do not click on links when the IRS first became aware of the Aug. 24, 2007 — The Internal in, or open any attachments to, escam.

Revenue Service today warned mails they receive that are Jan. 14, 2008 — A new variation taxpayers of a new phishing scam in unsolicited or that come from of the refund scheme may be which an e-mail purporting to come unknown sources. directed toward organizations that from the IRS advises taxpayers they Nov. 2, 2007 — A new scam edistribute funds to other can receive $80 by filling out an mail that appears to be a solicitation organizations or individuals. In an online customer satisfaction survey. from the IRS and the U.S. attempt to seem legitimate, the scam The IRS urges taxpayers to ignore government for charitable e-mail claims to be sent by, and this solicitation and not provide any contributions to victims of the recent contains the name and supposed requested information. The IRS does Southern California wildfires has signature of, the Director of the IRS not initiate contact with taxpayers been making the rounds. A link in Exempt Organizations area of the through e-mail. the e-mail, when clicked, sends the eIRS. The e-mail asks recipients to June 19, 2007 — In another recent mail recipients to a website that click on a link to access a form for a scam, consumers have received a looks like the IRS website, but isn't. tax refund. In reality, taxpayers "Tax Avoidance Investigation" e-mail They are then directed to click on a claim their tax refunds through the claiming to come from the IRS' link that opens a donation form that filing of an annual tax return, not a asks for personal and financial separate application form. information. The scammers can use Digitized by South Carolina Continued onLibrary Page Seven State

Page 5

Their work, your responsibility: Choose a tax preparer wisely Understand that the most representative, but only you can sign If you pay someone to prepare reputable preparers will request to and cash your refund check. your tax return, choose that preparer see your receipts and will ask you A Third Party Authorization wisely. multiple questions to determine your Check Box on Form 1040 Taxpayers qualifications for expenses, allows you to designate are legally deductions and other items. By doing your paid preparer to responsible so they have your best interest in speak to the IRS for what’s on mind and are trying to help you concerning how your their tax avoid penalties, interest or additional return was prepared, returns even payment and refund issues taxes that could result from an IRS if prepared by examination. and mathematical errors. someone else.

Choose a preparer you will be It’s important for So, it is able to contact and one who will be taxpayers to find qualified important to responsive to your needs. tax professionals if they choose Ask who will actually prepare need help preparing and carefully the return before engaging services. filing their tax returns. when hiring Avoid firms where your work Unqualified tax an individual may be delegated down to someone preparers may overlook or firm to Photo courtesy of naptaxes.com with less training or some unknown legitimate deductions or prepare credits that could cause clients to pay worker. You should know exactly personal returns. who works with your tax matters at more tax than they should.

Most return preparers are Unqualified preparers may also make all times and how to contact him or professional, honest and provide her; after all, you are paying for it. costly mistakes causing their clients excellent service to their clients.

Here are a few points to keep in Investigate ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ mind when someone else prepares whether the preparer has your return: Remember you are ultimately any questionable history A paid preparer is required by with the Better Business responsible for your taxes, not law to sign the return and fill in the Bureau, the state’s board preparer areas of the form. The your tax preparer. of accountancy for CPAs, preparer should also include their ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ the state’s bar association appropriate identifying number on for attorneys or the IRS the return. Although the Preparer to incur assessed deficiencies, Office of Professional Responsibility signs the return, you are responsible penalties, and interest.

(OPR) for enrolled agents or the for the accuracy of every item on Here are some suggestions to oversight agency in states that your return. In addition, the preparer consider when hiring a tax license or register tax preparers. must give you a copy of the return. professional: Determine if the preparer’s Review the completed return A paid preparer must sign the credentials meet your needs or if your to ensure all tax information, your return as required by law. state mandates licensing or name, address and social security Avoid preparers who claim registration requirements for paid number are correct. Make sure that they can obtain larger refunds than preparers. none of these spaces are left blank. other preparers. If your returns are Is he or she an Enrolled Agent, Review the entries and make prepared correctly, every preparer Certified Public Accountant (CPA) or sure you are comfortable with the should derive substantially similar Tax Attorney?

Only attorneys, CPAs accuracy of the return before you numbers. and enrolled agents can represent sign.

Beware of a preparer who taxpayers before the IRS in all matters Never sign a blank return, and guarantees results or who bases fees including audits, collection actions never sign in pencil. on a percentage of the amount of the If you have provided specific refund. A practitioner may not charge and appeals.

Check IRS.gov for authorization in a power of attorney a contingent fee (percentage of your information regarding abusive filed with the IRS, you may have refund) for preparing an original tax shelters and other tax schemes and copies of notices or refund checks return. mailed to your preparer or Continued onLibrary Page Seven Digitized by South Carolina State

Page 6 CONTINUED from Page 2: VITA program offers free tax help for those who need it Volunteers who provide tax counseling are often retired individuals associated with non-profit organizations that receive grants from the IRS. As part of the IRS-sponsored TCE Program, AARP offers the Tax-Aide counseling program at more than 7,000 sites nationwide during the filing season.

Trained and certified AARP Tax-Aide volunteer counselors help people of low-to-middle income with special attention to those age 60 and older.

Military personnel and their families get free tax help!

The military also has a strong Volunteer Income Tax Assistance (VITA) Program. The Armed Forces Tax Council (AFTC) consists of the tax program coordinators for the Army, Air Force, Navy, Marine Corps, and Coast Guard.

The AFTC oversees the operation of the military tax programs worldwide and serves as the main conduit for outreach by the IRS to military personnel and their families.

Marines, airmen, soldiers, sailors, guardsmen, and their families worldwide receive free tax preparation assistance at offices in their installations.

These VITA sites provide free tax advice, tax preparation, and assistance to military members and their families. They are trained and equipped to address military specific tax issues, such as combat zone tax benefits and the effect of the new Earned Income Tax Credit (EITC) guidelines. The military tax programs generated over 287,644 electronic 2006 federal income tax returns.

Commanders support the program by detailing service members to prepare returns and by providing space and equipment for tax centers. The IRS supports these efforts by providing tax software and by training service members to prepare taxes at the military sites.

Most service members file their tax returns electronically at tax centers and, by selecting direct deposit, receive their refunds in as little as one week.

This combined effort ensures that service members receive free tax assistance from well-trained and equipped military tax preparers.

Items you need to bring to the VITA/TCE Sites to have your tax returns prepared: D Proof of identification D Social security cards for you, your spouse and dependents and/or a social security number verification letter issued by the Social Security Administration.

D Birth dates for you, your spouse and dependents on the tax return D Current year’s tax package if you received one D Wage and earning statement(s) form W-2, W2G, 1099-R, from all employers D Interest and dividend statements from banks (Forms 1099) D A copy of last year’s federal and state returns if available D Bank routing numbers and account numbers for direct deposit D Total paid for day care provider and the day care provider's tax identifying number (the provider's social security number or the provider's business Employer Identification Number) D To file taxes electronically on a married filing joint tax return, both spouses must be present to sign the required forms.

It is extremely important that each person use the correct social security number (SSN).

The most accurate information is usually located on your original Social Security card.

Each year hundreds of thousands of returns are delayed in processing, or credit/deductions are disallowed because names and social security numbers do not match social security administration records.

To prevent processing delays in paper returns and rejected electronically filed returns, volunteers check the accuracy of each social security number, as well as the spelling of the name associated with the number.

Digitized by South Carolina State Library

Page 7 CONTINUED from Page 3: Don’t fall for these tax scams... CONTINUED from Page 5: Tips for choosing a tax Credit Counseling Agencies over the assets or income, thereby obtaining a tax deduction without Taxpayers should be careful with preparer

credit counseling organizations that claim they can fix credit ratings, push debt payment plans, or impose high set-up fees or monthly service charges that may add to existing debt.

If a taxpayer plans to hire a credit counseling agency, they should contact SCDCA to make sure the business is licensed.

Abuse of Charitable Organizations and Deductions

The IRS has observed increased use of tax-exempt organizations to improperly shield income or assets from taxation. This can occur, for example, when a taxpayer moves assets or income to a tax-exempt supporting organization or donoradvised fund but maintains control

transferring a commensurate benefit to charity.

Offshore Transactions

Despite a crackdown by the IRS and state tax agencies, individuals continue to try to avoid U.S. taxes by illegally hiding income in offshore bank and brokerage accounts or using offshore credit cards, wire transfers, foreign trusts, employee leasing schemes, private annuities or life insurance to do so.

Check out these helpful links: E-file for Individual Taxpayers

http://www.irs.gov/efile/article/ 0,,id=118508,00.html

Employment Tax Evasion

The IRS has seen a number of illegal schemes that instruct employers not to withhold federal income tax from wages paid to employees.

Free File

http://www.irs.gov/efile/article/ 0,,id=118986,00.html

CONTINUED from Page 2: CONTINUED from Page 4: Avoid using refund E-snare! IRS warns most new scams are through... anticipation loans...

If you have Internet access, you may be able to get free tax preparation and electronic filing at www.icanefile.org.

• Wait just a bit longer – Do you really have to get cash from your tax refund today? Can you wait a few weeks to save almost $100?

If you have an urgent bill to pay, ask for more time until the tax refund check comes from the IRS. Don’t take on a new expensive debt to pay an old bill.

• Avoid check cashers – Check cashers charge an extra fee to cash RAL and tax refund checks.

Some check cashers charge up to 7% to cash a RAL check – the average is about 3%. If you receive a $2,000 refund it would cost you an average of $60 to cash the RAL check on top of the RAL and tax preparation fees.

A smarter move is to use a bank account.

scams. Remember, if it sounds too good to be true, chances are it is.

The IRS can help many taxpayers prepare their own returns without the assistance of a paid preparer.

Before seeking a paid preparer, taxpayers might consider how much information is available directly from the IRS through the IRS website.

"Fraud Department" in which the recipient is asked to complete an "investigation form," for which there is a link contained in the e-mail, because of possible fraud that the recipient committed. It is believed that clicking on the link may activate a Trojan horse.

May 31, 2007 — An e-mail purporting to be from IRS Criminal Investigation falsely states that the person is under a criminal probe for submitting a false tax return to the California Franchise Tax Board.

The e-mail seeks to entice people to click on a link or open an attachment to learn more information about the complaint against them.

The IRS warns people that the email link and attachment is a Trojan horse that can take over the person’s computer hard drive and allow

Free Tax Return Preparation

http://www.irs.gov/individuals/ article/0,,id=107626,00.html Unfortunately, unscrupulous tax return preparers do exist and can cause considerable financial and legal problems for their clients.

Examples of improper actions by unscrupulous preparers include the preparation and filing of false paper or electronic income tax returns that claim inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions.

Remember, no matter who prepares a tax return, the taxpayer is legally responsible for all of the information on that tax return.

Report suspected tax fraud and abusive return preparers by completing Form 3949-A and mailing it or a letter with similar information to: Internal Revenue Service Fresno, CA 93888

Digitized by South Carolina State Library

Rent, Mortgage & Utility

Food Assistance

Housing Authorities

Community Housing 547-6787 (ages 55+) Fort Mill Housing Authority 547-6787 Housing Authority of Rock Hill 324-3060 Housing Develop. Corp. of R.H. 817-5112 York/Clover Housing Authority 684-7359 USDA Rural Development Corp.

581-1906 ext. 4

Clover Area Assistance Center 222-4837 (Clover) Dept. of Social Services 909-7446 (food stamps) 684-2315 (food stamps) Dorothy Day Soup Kitchen 328-2754 (hot lunches Mon-Sat) Flint Hill Baptist Church 328-3181 (Rock Hill) Fort Mill Care Center 547-7620 (Fort Mill/Tega Cay) God’s Kitchen 222-0711 (Hot lunches - Clover) Hope House 328-8000 (Rock Hill) PATH 684-3992 (York) Pilgrims’ Inn 327-3430 (York County) Salvation Army 324-5141 (York County) TenderHearts House of Hope 684-3132 (York)

Angel Food Ministries - $30 Box 328-6632 (Calvary Baptist Church) 366-4701 (Grace Church Naz.) 327-6015 (Hermon Presby.)

684-4021 (Church of the Good Shep.)

222-4876 (Clover Evang. Presby.)

547-4207 (United Dev. Comm. Fund)

PO Box 925, Rock Hill, SC 29731 (803) 324-2735 www.u unit edw ayofyyc .org

York County Council on Aging 327-6649

Earned Income Tax Credit Child Tax Credits First Time Home-Buyers Credit American Opportunity Education Credit United Way of York County, SC

• • • •

VITA sites are trained to identify families and individuals eligilbe for the following tax credits:

Ca ll 2-1 -1 or 1 -86 6-892- 9211 for sch edule s and a loca tion nea rest you.

Volunteer Income Tax Assistance (VITA) sites are open from January 26th through April 15th.

They offer free tax return preparation and free electronic filing services to most individuals with low to moderate income. Refunds received typically within 7 days.

Free T ax Return Assistance

--Information about unemployment benefits --Resume and letter building programs --Online applications for employment --Available job listings --Financial services to help with budgeting --Career tips to find your best career match --Education services to help locate local training providers

Onl in e at www.sc on est op .c om yo u wi l l fin d:

--Available job listings --Tutorial programs, including interviewing, resumes, typing, computer programs, etc.

--Office support, including phones, internet access, printers, copiers, fax machines, etc.

--Individual counseling and career planning --Possible training services, including GED preparation, occupational skills, skills upgrading and retraining, etc.

--Veteran’s services

Located at 1228 Fincher Road, Rock Hill (on Hwy. 5 beside the Sunshine House day care) Phone: (803) 328-3881 Website: www.sconestop.com A t th e SC One St op C enter y ou wi ll fi nd :

York County Adult Day Care 327-7448

Medicare: 800-772-1213

Medicaid: 327-9199

Catawba Area Agency on Aging 329-9670 Homesteader Tax Exemption/ York County Auditor’s Office 909-7171 or 684-8501

Boys & Girls Clubs 324-7920 Boy Scouts 367-2356 Catawba Family Center 329-3177 Girl Scouts 800-868-0528 Operation Help One Another 980-HELP Upper Palmetto YMCA 329-9622 Women, Infants, Children 909-7300 (WIC food program) Worthy Boys & Girls Camp 329-7285 (summer only) York County First Steps 981-5780

Catawba Community Mental Health Center 327-2012 The Saluda Center 327-6103 Teen Health Center 366-9119 (ages 11-18 & family counseling)

York County Resource Centers 322-6636 to schedule appt.

Clover - Thursday Ft. Mill - Wednesday Rock Hill - Friday York - Tuesday

York County Health Department 909-7300

Veterans Affairs Clinic 366-4848

Palmetto Vol. in Medicine 366-6337 (Mon & Thurs)

North Central Clinic 325-7744 (Sliding Scale; Medicaid)

Catawba Care Coalition 909-6363 (HIV/AIDS patients)

Employment Security Commission

Call 1-866-892-9211 for more resources.

Carolina Community Action 366-5537 (York County) Clover Area Assistance Center 222-4837 (Clover) Fort Mill Care Center 547-7620 (Fort Mill/Tega Cay) Hope House 328-8000 (Rock Hill) PATH 684-3992 (York) Pilgrims’ Inn 327-3430 (York County) Salvation Army 324-5141 (York County)

SC One Stop Center

Resources Quicklist

Medical Clinics

Mental Health

Children’s Programs

Seniors’ Services

LIVE UNITED.

A guide to planning for tough economic times provided by United Way

OPENS.

another one

door closes...

When one

2. Ut ilit ies (phone, gas, elec tr ic , water) Tell them as soon as possible to show good faith. Cut back on use of utilities (turn off lights, use less hot water, adjust thermostat settings, etc.)

1. Your mor tgage h older or your lan dlord. Let them know in person if you cannot make a payment. A personal visit is suggested. Request postponement until income resumes. If you have FHA or Veteran’s Insured Mortgage, ask for forbearance (an emergency relief program to avoid foreclosure). With a landlord, discuss ways to work off your obligation, if possible.

Protect y ourself . Alert others about your economic situation. You should notify:

Stop all use of cr edit. Don’t make purchases on credit if you can avoid it. This will save interest charges.

Plan a realist ic budget.

Set up a plan, which allows for basic needs: food, shelter, clothing, and medical care.

Be sure to include anticipated expenses, such as quarterly insurance premiums and holiday spending, taxes, etc.

Deter mine y our financ ial resour ces: Savings, pension or profit sharing, thrift plan, stocks, cash values of life insurance, unemployment compensation, severance pay, spouse’s income, medical benefits, etc.

your finances

Evaluating

A void: Predatory lenders, pre-approved loan or credit card offers, and credit counseling centers that charge fees.

Sell unnecessar y items.

If you need income for living expenses, consider selling items such as extra cars, motorcycles, collectibles, garage sale items, etc.

C onsider r efinancing.

Refinancing or renegotiating loans will help lower your fixed expenses (bank or credit union loans, car payments, mortgage.)

Canc el unn ec essary serv ic es/ pur chases. This includes cable TV, additional cell phone services, (mobile web, text plans, etc), call waiting, subscription renewals, etc.

Set pr iorities. If your income does not cover all your bills, be sure to pay the following first, in this order: 1. Rent/Mortgage 2. Utilities 3. Food 4. Transportation

3. An y cr editor (c ar, fur nitur e, cr ed it cards, etc.) Try to set up an alternative payment plan and/or try to return collateral items (jewelry, furniture, etc.) to reduce debts. Keep full records of these transactions, including the name of the firm, person you spoke with, phone numbers, an account of what you agreed on, and the date. Make one copy for your file and file one with them, for their records.

C ontinue enjoying time with y our family and f riends.

Utilize free or inexpensive activities available in the area for quality family fun time: • Public and State Parks • Library activities - visit www.yclibrary.org for a complete listing, including movies, crafts, story time.

• Picnics • Video rentals • Card or board game night • Local tourism attractions www.visityorkcounty.com • Entertainment, art exhibits, concerts, lectures and sporting events at local colleges, universities and elementary/high schools.

• Save your receipts! Things you pay for during your job search may be tax deductible!

• Make finding a job your job. Treat it as a 9 to 5 business and work to find a new job.

• Maintain contact with former co-workers, union, church, or other community groups for emotional support as well as job leads.

• Utilize various employment agencies, job listings, etc. for job leads.

Located at 1228 Fincher Road, Rock Hill (on Hwy. 5 beside the Sunshine House day care). Phone 803-328-3881 www.SCOneStop.com

• Set up an appointment at the South Carolina One Stop Center (Employment Security Center)

Se ar ching for a job:

Financial advice programs from local banks and credit unions

www.DebtAdvice.org

Foreclosure prevention counseling 1-888-995-HOPE

Inform at ion to remember : Monitor Credit Report & score for potential problems at www.Annual Credit Report.com at no charge Consumer Credit Counseling 803-327-9754

Cu rb “ luxur y sp en ding.”

Limit spending on cigarettes, alcoholic beverages, specialty coffee drinks, fast food restaurants, etc. Save money instead of going out to the movies, eating out, etc.

Red uced income i s going to re quir e e xpe rt mone y managem ent.

This checkli st wi ll help you get s tar ted.

In this struggling economy, you may have found yourself among the many in the community facing the loss of a job and financial trouble. This guide is intended to help you answer the question, “Now What?” Several organizations in the York County area exist to help you, whether it’s managing your finances, discount or free health services, food, clothing, shelter, or other services. Call 2-1-1 or 1-866-892-9211 for information 24-hours a day, 7-days a week.

Member ID: 070707 Group ID: 39201 BIN: 610194 PCN: FW Pharmacies: 877-HELP-977 Members: 866-810-3784 Expires: 12/31/2012 Copies are accepted. This is not insurance - discounts only.

Distributed free of charge nationwide by FamilyWize Partnership and participating United Ways. Discounts are provided by and available only at the participating pharmacies.

FAMILYWIZE.ORG

family wize PRESCRIPTION DRUG DISCOUNT CARD

Cut out the card below and use at participating pharmacies. There is no age or income requirements and no registration is needed. Call United Way at 324-2735 or 684-9847 for more information or visit www.familywize.com.

United Way and FamilyWize are offering free prescription discount drug cards for people with no prescription drug coverage.

No Insurance?

Sponsored in part by

Ca ll 2-1-1 or 1-866-892-9211.

Call to receive information on financial assistance, counseling services, aging/elderly resources, emergency shelter, crisis intervention and more.

telephone number connecting callers to local assistance programs. Trained operators are available 24 hours a day, 7 days a week.

It’s easy, confidential and free.

Help2-1-1 stisaanrteasy s tohremember ere.

United Way Services