DON'T FALL FOR A CHARITY SCAM

The IRS is warning people to be aware of fraud connected with Hurricane Sandy. As is usually the case following a natural disaster, scam artists are impersonating charities to get money or financial information from those wanting to help victims of the storm. The scammers contact people by phone, social media, e-mail, or in person. To avoid falling for a scam, donate only to recognized charities, and avoid those with names that are similar to real charities. Do not give personal information to those seeking contributions, and don't give cash donations. Contributions by check or credit card provide greater security as well as a record for tax purposes.

CREDIT FOR HIRING A VET WILL EXPIRE SOON

The IRS reminds businesses that the special credit for hiring veterans will expire soon. Companies that hire unemployed military veterans may qualify for a tax credit of up to $5,600 ($9,600 for vets with service-related disabilities). The credit is available for vets hired before January 1, 2013. The amount of the credit depends on the length of unemployment before being hired and the wages paid during the first year of work. For more information, contact our office at (518) 798-3330.

IRS INCREASES MILEAGE RATES FOR 2013

The IRS has increased the standard mileage rates to be used in computing the deductible costs of operating a vehicle for business or when driving for medical or moving reasons. The new rates will apply to vehicle mileage starting January 1, 2013.

The revised rates are 56.5 cents per mile for business driving and 24 cents for medical and moving driving. The rate for charitable driving is fixed by law and remains at 14 cents per mile.

Instead of using standard mileage rates, you have the option of calculating the actual costs of using a vehicle for business, medical, or moving purposes.

RETHINK YOUR CAPITAL GAINS STRATEGY THIS YEAR

The typical investment advice at year-end is to sell losing stocks to offset gains you have taken for the year. This year that strategy may just be the wrong way to go. Here's why.

ANALYZE YOUR CUSTOMERS FOR A BETTER BUSINESS

If your business is like most, you put a lot of effort into attracting new customers. After all, that's an essential part of growing the business. But sometimes it's more productive to step back and review your existing customers, and perhaps even get rid of a few.

GIVE YOUR CHILDREN SOME LESSONS ABOUT MONEY

There's one important subject that your children may not learn in school: personal finance. If you want your kids to pick up good money skills and become financially responsible adults, you should give them some training yourself.

BEWARE OF TAX SCAMS

It's likely to be a daily occurrence: Your e-mail inbox contains at least one message touting a too-good-to-be-true offer.