Name:
Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL -cpabakem01@yahoo.com **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: http://www.blognetnews.com/accounting (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Saturday, February 28, 2009

After A Layoff. Carefully Pick What To Cash Out First

Unless you got fired for driving your boss's car into a lake, there's nothing funny about losing your job. And unfortunately, 3.6 million people — more than the population of Chicago — have lost their jobs since the recession began in December 2007.

If you're suddenly unemployed, you have a number of unpleasant choices to make. Can you keep your car? Your house? If so, for how long?........

John Waggoner USA

42 Comments:

Blogger More Cowbell! said...

Does anyone know of a good reference site for tax issues? With all the complexities of the tax code, it’s definitely helpful to have somewhere to go, if you’re not a CPA. I found one site (www.GetTaxAnswers.com) where CPA’s will answer any tax question for $30, which seems a lot cheaper than going to see them in person.

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Blogger Nate Spoto | Online Learning said...

You are right, there's nothing funny about losing your job. If you're suddenly unemployed, you have a number of unpleasant choices to make. I recommend getting together with you accountant to figure out where you stand with your finances.
Once your financial foundation is secure you should Recession-Proof Yourself!

If you do not currently hold a AA, BA, MS or MBA there are many finacial student aid programs to help you with your education. I have a friend who is currently laid off and is proud to be earning an online accounting degree from the world-renowned Florida Tech Online.

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Anonymous Accounting Software said...

Losing a job is one of the five most stressful life changes you can experience. After my last layoff, I felt as if someone had pulled the rug out from underneath me. To help ease my anxiety, I asked some friends and colleagues for advice on how they dealt with the process. Their suggestions helped me to better survey my options and to establish an immediate course of action.

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I don't find it funny people losing their jobs as life is so hard nowadays and so is looking for a new job. I just wish the economy is not that tough to the point of laying out employees. It's just so sad especially for those who have families and paying their mortgage.

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