Changing Role of CFO; Teach Your Children Well; Lending Money to Relatives

From: "Bob Bailey" <bob@newsroute.com>

Subject: Financial Update from NewsRoute, May 2002

To: bob@ebizmax.com

In this issue...

The Changing Role of the CFO
Teach Your Children Well
There's More You Ought to Know Before Lending Money to Relatives
Who Will Be Me for Me?
Beware of Common Tax Scams
The Power of Compounding
When a Criminal's Cover Is Your Identity

The Changing Role of the CFO - Following high-profile meltdowns at places like Global Crossing, Tyco International and Enron Corp., companies these days are revisiting what they expect of their CFOs. Since nobody wants their top management team to be the subject of news stories or SEC investigations, a strong emphasis on ethics is key to the job. But that’s only the beginning.
http://knowledge.wharton.upenn.edu/articles.cfm?catid=1&articleid=556&homepage=yes

Teach Your Children Well - Ginita Wall
When I was growing up, I remember hearing my parents discuss money. It wasn’t usually pleasant: my father loved to find bargains, while my mother’s nickname was "Mrs. Rockefeller" for the way she spent.
http://www.wife.org/our_money/teachchildrenwell.htm

There's More You Ought to Know Before Lending Money to Relatives - Lynn Asinof
Lending money to a relative can pose problems, such as a family feud if Junior doesn't pay back Mom and Dad for his new sports car. Here's another potential snag: The Internal Revenue Service has ideas on exactly how to lend money to a relative, and if you don't follow the rules you might wind up with the tax man on your back.

http://sunday.wsj.com/articles/SB1021751953334695240.html

In caring for her elderly mother, a loving daughter learns to be resourceful about preparing for her own old age.
http://www.mygeneration.org/departments/2002/style/0510_a.html

Beware of Common Tax Scams
Don't Be Misled By Tax Scams; IRS Warns of 8 Common Schemes

Each year, con artists take advantage of people by promoting and charging fees for a variety of illegal schemes. These scams range from promising special tax refunds to ways of “untaxing” yourself.

http://www.irs.gov/irs/news/0,,i1=42&articleId=26742,00.html

The Power of Compounding
Time is your biggest ally as an investor. That’s because the more time you have to invest, the longer your investment can compound, or grow in value.

http://www.siainvestor.org/categories/investingessentials/compounding/compounding_011.htm

When a Criminal's Cover Is Your Identity
ID theft puts an ugly face on your good name. A con artist who knows your Social Security number, bank account information or other personal details can temporarily become you in order to commit fraud. Fixing the damage could take years. Here's how to reduce your risk.
http://www.fdic.gov/consumers/consumer/news/cnsum00/idthft.html

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