Central Business Solutions

jack woods

301 Lynnfield Street, PO Box 3169, Peabody, MA 01960

Phone: 978-532-0266

Fax: 978-532-9105

1147 Main Street, Suite 213, PO Box 299, Tewsbury, MA 01876
Phone: 978-851-8044               Fax: 978-851-9332

Email: jack@cbps.com

August 2018

August 2018 Short Bits

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Identity theft is a growing problem and clearing up the damage done by it can be costly and time-consuming. At least the Federal Trade Commission (FTC) and IRS now offer some help expediting matters, if thieves use your tax identification number. Report the theft online at IdentityTheft.gov to file IRS Form 14039. And don’t forget to work with your tax professional, who can provide you with personal assistance.

The Bureau of Labor Statistics reports that between July 2016 and June 2017, consumers spent 3.9% more than they did the year before. Cash contributions and education expenses were the two double-digit increases during this time period.

Hurricane season is now entering its peak, which is as good a time as any to review some disaster readiness tips offered by the IRS. Among the tips: Update your emergency plans, create electronic copies of key documents, and photograph or videotape valuables. If you’re an employer, make sure your payroll provider has a fiduciary bond to protect you in case it is impacted and plan how employees will be paid if you’re affected.

Gallup's annual Economy and Personal Finance poll shows that two-thirds of Americans think home prices will rise. The poll, conducted in April 2018, finds more optimism in the West and the least in the East. The 64% who believe prices will increase is the highest since the real estate bubble burst a decade ago.


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