Weathering Sandy: Advice, Assistance, Notifications from CPA Societies and Others
Post-Sandy, CPA societies, government offices, and other organizations are providing information and resources to assist those impacted by Hurricane Sandy. We will keep you updated as news comes in.
- Target release date for AUD, FAR, and REG: November 12
- Target release date for BEC: November 13.
- Organize your financial records. With or without power, now is a good time to organize your financial and family records. This can save you time, money, and trouble. Grab a flashlight and sort through the paperwork you've been collecting and move important permanent records, such as birth certificates, wills, property deeds, and trust agreements, to a secure fireproof location. Other records can be organized in a file cabinet or using whatever system works for you.
- Calculate your net worth. Look at your total financial picture to determine exactly where you stand. This will help you budget if you must pay to repair damages caused by the storm.
- Build an emergency fund. If you escaped Mother Nature's wrath this time, that doesn't mean you'll be so lucky if another storm blows through. If you sustained damage over the past week, make sure you're protected as the storm season goes on. Most CPAs agree that it's a good idea to create an emergency fund equal to roughly six- to nine-months' worth of living expenses. The right amount for you depends on your financial circumstances. It will take time and a few sacrifices to set aside that amount of money, but it's worth the peace of mind it provides in an emergency. Using an automatic savings plan to direct money to your emergency fund is a relatively painless way to save. Be sure to keep your emergency funds in an easily accessible account, such as a savings or money market account. While the interest rate may be low, bear in mind that liquidity is the goal for your emergency fund.
- Be adequately insured. One of the best defenses against financial difficulties is a well-formulated plan for insuring yourself and your possessions. You should review your homeowner's insurance at the start of each year to determine whether or not your policy amounts are keeping pace with the increased value of your home. Also, review your car, life, and medical insurance policies regularly to ensure sufficient coverage.
- Power is out at the NJSCPA office in Roseland. Our e-mail and website are down and the office itself is inaccessible. The NJSCPA website URL is automatically redirecting people to http://connect.njscpa.org/Home/ (a temporary page on the Ohio Society of CPAs'website).
- We are evaluating whether to cancel CPE programming the remainder of the week. Please check back periodically for more information.
- Once available, we will updates on Facebook, Twitter, and LinkedIn. Please share those updates with your friends and followers
It's unclear at this time how long it will take to get our lives back to "normal." We will do our best to keep you informed about professional news and the status of CPE programs as things progress.
- Affected customers will receive free replacement of print products, which are currently produced in print. Products that cannot be replaced because they are out of print or no longer available in the original format will be replaced with a like product. Some exceptions may apply; please contact CCH with questions.
- Upon customer request, CCH will temporarily change their mailing addresses to another address or location not impacted by the storm.
- CCH will provide free online access to CCH IntelliConnect®, the powerful research platform for the tax and accounting industry, until customers are able to accept replacement of their print products.
- All IntelliConnect product IDs and passwords will remain active so customers may continue to access and use web and online subscription products from remote locations.
- Impacted customers will receive automatic renewal of product subscriptions that end before customers are able to resume their business or practice, so service is uninterrupted and products stay current and complete.
- ProSystem fx replacement software, at no charge.
- A temporary license at no cost to access Global fx, the online version of ProSystem fx® Tax, hosted on CCH servers.
- Optional service center printing of tax returns for the remainder of the year, at no charge.
- A temporary hold on mailing of all product updates, newsletters, to our customers located in the affected areas.
- Automatic renewal of licensing agreements that end before customers are able to resume their business or practice, allowing service to remain uninterrupted and products to stay current and complete.
- Waiver of late fees and any overdue notices.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.