Costco Connection - April 2009

COSTCO SERVICES

Update

Current news for Costco members

Practical Tips

To learn more about our complete suite of Costco services,
click on the “Services” link at Costco.com or call toll-free 1-800-220-6000.

Tax break for new auto purchases

HERE”S ICING ON the cake for Costco members. The Costco Auto Program (CAP) already delivers a no-hassle, no-haggle auto purchase service that saves time and money. Sweetening the deal through the rest of 2009 is the American Recovery and Reinvestment Act, signed into law in mid-February, which contains a provision designed to stimulate new auto purchases.

What incentives? Qualifying buyers can deduct state and local sales taxes and excise taxes for the purchase of eligible vehicles from their federal income-tax returns.

Who qualifies? Individuals with an adjusted gross income of less than $125,000 per year, or joint filers whose adjusted gross

MEDIA BAKERY/RF

income is lessthan $250,000per year.

What vehicles are eligible? New-model-year vehicles on a dealer’s lot with no prior purchase history. Purchases only; leases are not eligible. Applies to vehicles retailing for up to $49,500 for full tax deduction; for more expensive vehicles, the first $49,500 would be the basis for the tax deduction.

For complete details, CAP has a summary online at www.costcoauto.com/taxcredit.

With many autos to choose from, CAP can help you save money on your next vehicle purchase. To take advantage of these special offers and locate a participating dealer, visit Costco.com and enter “GR8VALU” in the search box, or call toll-free 1-800-800-9288.

Tax filing and ID theft

TAX SEASON is a lucrative time for identity thieves. The personal information entered on tax forms is exactly the type needed to commit identity fraud. Last-minute filers should heed these warnings.

• Beware of temporary businesses and shady tax preparers who may lure stressed-out taxpayers under the guise of quick tax prep, only to acquire personal information with which to commit tax, credit-card or identity fraud. If you choose not to do your own taxes, even with the aid of a software program such as Turbo Tax, be sure to take them to a reputable tax preparer.

• Beware of scammers posing as Internal Revenue Service (IRS) representatives to trick taxpayers into revealing personal information via e-mail. Victims receive an offi-cial-looking e-mail containing a link to a Web site that asks for name, Social Security number and credit-card information. If you have any doubt about whether a contact from the IRS is authentic, call the IRS toll-free at 1-800-829-1040.

• Beware of any e-mail purporting to be from the Social Security Administration (SSA). If you have any doubt about whether a contact is from the SSA, contact the SSA toll-free at 1-800-269-0271.

In general, neither the IRS nor the SSA requests personal information in e-mails.

Costco’s identity protection service, provided by Identity Guard®, offers affordable peace of mind. For details, visit Costco.com and enter “idcoupon9” in the search box.

Intuit Payroll eases stimulus tax credits

INTUIT IS MAKING it easy for employers to able time by taking care of the required get President Obama’s economic stimulus tax changes to tax tables, withholdings and pay-credit dollars into their employees’ pockets. roll tax forms.

The more than 1 million businesses Intuit Payroll will also provide updated using Intuit Payroll Services can take advan- tax tables at no additional cost to customers. tage of the new tax benefits while keeping Up-to-date tax tables are a standard feature their payroll in full compliance with the new and ongoing benefit of an Intuit Payroll sublegislation. scription. And, for employers who don’t want

The stimulus package includes new tax to have anything to do with payroll tax filings, credits and other assistance that will require Intuit offers a payroll tax service, Assisted changes to how payroll is calculated. It pro- Payroll, that will do it for them.

vides up to $400 of tax credits per eligible For details, go to Costco.com and enter individual or up to $800 per eligible family. “payroll2” in the search box, or call toll-free Intuit Payroll can help save businesses valu- 1-866-636-2228.

All services are provided by third parties, may not be available in all areas and are subject to change without notice. Some restrictions apply. See “Services” at Costco.com for applicable terms and conditions.

Save for a rainy day

FINANCIAL EXPERTS recommend that people have an emergency fund to help them through tough economic times.

Saving is a habit that is often difficult to start, but here’s a tip: A good way to kick-start a savings program is by using an income-tax refund.

A high-yield savings account or CD from Capital One is a great savings vehicle. “Costco members are looking for a great deal, and Capital One’s Online Savings Account rate is one of the best in the nation,” says John Gleason, Costco services manager. “Capital One offers a variety of savings accounts and CDs with exclusive rates for Costco members.”

Capital One’s Online Savings Accounts feature online transfers to and from other bank accounts (withdrawal limits apply). Money market accounts also feature free ATM cards and checks.

Executive Members receive a bonus on their first Capital One Direct Banking account opened through Costco. For details, go to Costco.com and enter “online savings” in the search box, or call toll-free 1-866-850-3919.