BEWARE OF BOGUS CHARITIES

Times of crisis, when others are suffering and you want to help most, is also when heartless fraudsters tend to strike. If you're planning a donation, watch for these signs that a charity isn't on the up-and-up.

NEW RELIEF FOR 60-DAY ROLLOVER ERRORS

One of the pitfalls of receiving a distribution from your IRA with the intention of "rolling it over," or depositing it into another IRA or retirement plan, is the 60-day rule. Under the rule, you're required to complete the rollover within 60 days of receiving the distribution. If you miss the deadline, you have to include the distribution in your income and perhaps pay a penalty. In the past, you generally had to request a special statement from the IRS to avoid that outcome. Now the IRS says you may qualify for a waiver if you meet one of eleven allowable reasons. Contact us at (518) 798-3330 for details.

COLLEGE STUDENTS: BE AWARE OF PHONE SCAMS

As you settle into your fall semester routine, both the FBI and the IRS want you to be alert for calls from scammers. The calls may spoof a legitimate number on your caller ID, and appear to come from an actual government agency, including the FBI or IRS. The caller will demand immediate payment of delinquent taxes, such as the non-existent "Federal Student Tax," or student loans, dues, or parking tickets. If you receive one of these calls, disconnect. Legitimate government agencies will not ask you for immediate payment, nor request credit or debit card information over the telephone.

WATCH OUT FOR THESE EARLY WARNING SIGNS FROM CREDIT CUSTOMERS

Once you have extended credit to a customer, you have a stake in continuing the relationship even if you suspect trouble is brewing­.

DESIGNATE BENEFICIARIES TO AVOID UNINTENDED CONSEQUENCES

After your death, the disposition of retirement accounts, life insurance policies, annuities, and accounts at financial institutions are governed by beneficiary designations. If those designations are outdated, unspecific, or wrong, your assets may not be distributed the way you would like.

RETURNING HOME AS AN ADULT

Are you thinking of returning to your childhood home to live with your parents? Although heading home after graduation or a divorce may feel like a setback, a temporary return to living with your parents can present opportunities to improve your financial situation.

WHAT'S THE DIFFERENCE BETWEEN A CREDIT CARD AND A DEBIT CARD?

When you pay for clothes in a store or dinner at a restaurant, you might use either a credit card or a debit card. In your mind, they may be the same. But there are differences to be aware of.

WORK-RELATED EDUCATION COSTS MAY BE DEDUCTIBLE

Are you going to school this fall to earn an advanced degree or to brush up on your work skills? If so, you might be able to deduct what you pay for tuition, books, and other supplies.