Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants CPA Mobilization Kit: Military & Reserves

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Achieving Your Financial Goals

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Achieving Your Financial Goals Set clear goals Resolve to spend less Create an emergency fund Make saving a priority

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Achieving Your Financial Goals Reduce credit card debt Evaluate your insurance coverage Think taxes

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Creating a Budget Your financial plan Track income and expenses Unique to you

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Budgeting Gross monthly income Net income Fixed expenses Flexible expenses

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Budgeting Discretionary expenses Total it up Increase your savings Programs like Quicken can help

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Danger of Credit Cards – What You Don’t Know Can Hurt You Be aware of teaser rates Stick with one credit card Pay in full every month

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Danger of Credit Cards – What You Don’t Know Can Hurt You Pay on time Avoid cash advances Protect your credit history

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Danger of Credit Cards – What You Don’t Know Can Hurt You Stay within the limit Review your statements Report a lost or stolen card immediately Protect personal information

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Savings and Investing – 10 Simple Strategies Start small Contribute to your retirement plan Save through payroll deduction plans Set up an automatic investment plan Round up your mortgage

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Savings and Investing – 10 Simple Strategies Bank your raises Keep paying off a loan Pay off your credit cards Reinvest dividends Keep track of where the money goes

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Investing in Your Future Asset Allocation o Stocks o Bonds o Cash Equivalents

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Investing in Your Future Asset allocation Diversification Life circumstances Investment goals, timeframe and tolerance

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Investment Options Short-Term Investments CD Money Market Funds Savings Account

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Investing in Your Future Long-Term Investments o Mutual Funds o Stock o Bonds

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Investing in Your Future Retirement Specific Investments o 401(k) o IRA o Social Security

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Protecting Yourself & Your Family Through Insurance Life insurance Choosing coverage oHow much can you afford? oHow much is needed? oFor how long? oProtection or investment?

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Term vs. Permanent Term oLargest death benefit for the dollar oAnnual renewable and level premium oReturn-of-premium

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Term vs. Permanent Permanent oCombines a death benefit with an investment oPart of the premium is invested, building cash value oHigher premiums oWhole life, universal or variable life

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Term vs. Permanent Whole life Universal life Variable life

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Health Insurance Don’t go bare HMOs PPOs POS

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Health Insurance Flexible Spending Accounts COBRA Medicare Medicaid

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Long-Term Disability Insurance Benefit Amount Term of Benefits Elimination Period Non-cancelable Guaranteed Renewables Own Occupation or Any Occupation

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Government-sponsored Disability Benefits Workers’ Compensation Social Security Disability Veterans Benefits Federal Employees Retirement System

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Insurance for Reservists 2004 Temporary Reserve Health Benefit Program Who is affected? oReservists oNational Guard oDelayed-effective date or immediate o30 consecutive days oSupport contingency operation

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Insurance for Reservists What are my benefits? Is my family covered? Keep your other coverage TRICARE Prime vs. TRICARE Standard

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Fighting for Your Country: A Guide to Living Overseas Housing options oStation allowance overseas oOverseas housing allowance oMove-in housing allowance oRates oRent oSecurity

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants A Guide to Living Overseas Cost of Living Allowance Temporary Lodging Allowance Interim Housing Allowance Evacuation Allowance

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Overseas Deductions Combat pay Moving expenses Per diem Car allowances Legal assistance Medical and dental care Life insurance Living allowances Educational expenses Death expenses Defense counseling Disability Survivor and retirement protection Roundtrip travel for dependents once a year

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Guide to Living Overseas How do I file my tax return? VITA (800)

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Managing Your Money While Serving Your Country

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Before Being Called to Duty Build up savings Create a financial plan Identify a trusted family member Contact creditors Know military-provided help Contact life insurance carrier

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants During Active Duty Financial protection oBars evictions oPrevents default judgments oStays civil proceedings oCaps interest rates Stick to your budget

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants After Active Duty Problems won’t go away Achieving your financial goals Creating a budget Danger of credit cards

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Get Tax Smart Get credit for care Make retirement plan contributions Improve your recordkeeping Plan your investment gains

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Get Tax Smart Give away some assets Use your vacation home wisely Get advice early

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Maximizing Your Military Tax Benefits Military Family Tax Relief Act of 2003 Capital gain exclusion for home sales Overnight travel Dependent care assistance Combat zone extension Death benefits Additional exclusions

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants A Guide to Your Retirement Benefits Start with VA Education benefits Troops to Teachers VetFran Priority hiring Job training and placement Educational assistance

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Retirement Benefits Disability compensation Veterans pensions Free or low-cost medical care Computing retirement pay oPre-1980 oPost-1980

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Retirement and Insurance Schedule a physical Get a certified copy of medical records Specific health programs oAgent Orange and other herbicides oAlcohol/drug dependency treatment oBlind veterans services oGulf War Syndrome oRadiation exposure Life insurance

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Veterans Act of 2003 Increases specially adapted housing grants Increases specially adapted automobile grants Increases educational benefits Encourages entrepreneurship

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Do What You Can!

Created by the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants Thank You!