Jewish Standard, February 12, 2016

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FINANCEPLANNED GIVI N G

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A supplement to the Jewish Standard Winter 2016

Finance & Planned Giving

32 JEWISH STANDARD FEBRUARY 12, 2016

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Arno Roland was born April 14, 1923, in Berlin, where he lived with his parents and younger brother. He started school in his neighborhood where only a limited number of Jewish students were allowed to attend, but after a short period he was thrown out. His mother enrolled him in another school which was a 45-minute walk away. He had to walk through an anti-Semitic neighborhood

where he was bullied for being Jewish. At the age of 11, in 1934, he was pulled out of school. A few years later, his mother com-mitted suicide because she could not bear the anti-Semitism in Berlin.

Fearing for the safely of his sons, Arnos father secured a place for them on the Kinder Transport to Holland, where they lived in a childrens home until 1940. They

JFS Bergen and Hudson receives bequestwere transferred to a home in Rotter-dam until the Germans bombed the city and they were forced to evacuate. Arnos brother stayed with a family in Amsterdam until he was spotted wearing a yellow star and arrested. He was sent to Auschwitz where he was gassed. Mr. Roland went into hiding for 22 months in an unheated room, completely alone. The Allied troops rescued him in 1944.

In 1945 he came to the U.S. to reunite with his father and uncle. Arno worked as a cabinet maker by day while attending NYU at night. He graduated after 10 years and went on to earn a degree in industrial engineering at Stevens Institute. He lived in Leonia for the past 40 years.

Mr. Roland first attended JFS Kibbitz and Kulture in 2007. In 2013, he called JFS to find a physical therapist. Susan Goldstein, one of the care managers, set up a home visit and found Mr. Roland alone and confused. She was able to arrange a nurse and physical therapist to visit with him weekly. With Claims Con-ference funding, JFS was able to get him 10 hours a week with a home health aide. This was the beginning of a meaningful

relationship with JFS.During visits with Mr. Roland, Ms.

Goldstein saw the decline in his health but also saw that he still enjoyed read-ing the New York Times and tried to keep up with current events and participated in different JFS programs. He especially liked attending monthly Caf Europa, attending groups at the JCC, and appre-ciated his weekly visits from the two friendly visitors.

Arno often commented how grateful he was for the help JFS gave him, which made it possible for him to stay in his home. He always complimented JFS on the wonder-ful services our organization provides.

Sadly, Mr. Roland passed away in December, 2015. He left a generous bequest to Jewish Family Service in appreciation for the care he was given during the last few years of his life. We feel privileged that we were able to pro-vide this care, and to allow him to live out the last few years of his life with dig-nity and support.

For more information on JFS and cre-ating a Jewish legacy, call (201) 837-9090 or visit www.jfsbergen.org.


JEWISH STANDARD FEBRUARY 12, 2016 33

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For many decades, in both Europe and the United States, Hebrew Free Loan organizations in Jewish communities have provided interest free loans to those who could not qualify for loans from regular sources. The Hebrew Free Loan movement has lived up to its mission of helping others to help themselves without questioning the loans purpose.

The Paterson Hebrew Free Loan Association was founded in 1900 by eight Patersonians of humble cir-cumstances among them a milliner, a grocer, and a peddler who wanted to be of service to the Jew-ish community. Gathering nearly $400, they loaned small sums of money, without interest, to people they thought deserving such as refugees and other immi-grants primarily from Eastern Europe. At first loans were modest, $10 and $20 for food and clothing and then to help educate children, buy essential house-hold items for newlyweds, pay medical bills, and enable peddlers to rent horses and wagons.

As the Jewish community expanded beyond Pater-son, so has the Hebrew Free Loan Association. We are the only free loan organization serving our commu-nity in Bergen and Passaic counties. Any individual or family in need in northern New Jersey is eligible to apply for an interest-free loan. Applicants must have qualified guarantors (endorsers) who will assume legal responsibility for repayment in the event that the borrower is unable to fulfill his or her loan pay-ment obligation.

The loan limit has been raised to the thousands and recent uses that borrowers have cited include college and day school tuition, car repairs, rent, consolidating high interest loans, and medical and dental bills. One loan enabled a son to make his home handicap acces-sible so his elderly mother and her aide could come live with him. Another loan helped a local small business move to a better location which is flourishing today. The borrower was so grateful that he is now a member of the Hebrew Free Loan to pay it forward to oth-ers who need help. A computer loan helped launch a successful business enabling another grateful borrower not only to repay quickly but also make sizable con-tributions to the association. Through the years, the Hebrew Free Loan Association has made tens of thou-sands of loans totaling millions of dollars with a default rate of less than 2 percent.

We are also a resource to our community through

The Paterson Hebrew Free Loan Association, the areas oldest self help organization

the web-sites of the Jewish Federation of Northern New Jer-sey as well as the Jewish Family Service of North Jersey in Wayne. We are totally self funded through annual and life membership dues as well as lifecycle donations and corpo-rate matching funds programs.

For information on how to join the Hebrew Free Loan Association, make a tax deductible contribution, or get a loan application, call our office at (201) 791-8395, or write to the Paterson Hebrew Free Loan Association, 10-10 Norma Avenue, Fair Lawn, New Jersey, 07410.

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Feeding the hungry, caring for the elderly, providing help for those in crisis.

Jewish Family Service has served our local community for generations, driven by the

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Taking stockScared of market fluctuations

Dear Mr. Berko:Im 54, a self-employed engineer, married and have over $897,000 in my retirement plan that was worth $1,050,000 at the end of 2015. Im scared of this market and my wife thinks I should sell and buy U.S. Trea-sury bonds. Our broker of 12 years keeps telling us: You have to do what you have to do and is no help.

We have been reading your column since we heard you speak in Gainesville, Florida, in 2009. The market was bad then but your story about owning blue-chip type stocks plus the power of capitalism encouraged me to stay invested. And that was a good decision.

At 54, do you think its time to pull the plug and go to cash? The country was so much better off when I began working in 1984.

JG, Gainesville, Fla.

Dear JG:This is the type of market where caring, knowledgeable, wise and experienced bro-kers (they seem to be fewer in number) must counsel with their clients to stay the course. This is the type of market where knowledgable, wise and experienced brokers should hold a clients hands and caringly (if brokers cant be caring, they should fake it) assure clients that the fall-ing market is temporary and normal. And because I suspect your account owns quality equities with low betas, (including some oils) your dumb adviser should tell you two things: (1) stay the course and (2) that every downturn is temporary.

The stock market is not as predictable as the weather though like the weather, it has its rhythms. As certain as winter follows fall, markets will decline. And as certain as spring follows winter, the

markets will rise again. Since 1871, the mar-ket has fallen 10 percent about six times every 11 years. And like the seasons, you can depend on that. Still many investors become nervous Nellies and seriously want to liquidate. But markets come back every time, and every time the market comes back, it comes back higher. During that 145 years, the market has also fallen about 20 percent about every 48 months.

You can depend on that, too. While thats as normal as the sunshine and the rain it still gives investors a serious cases of shivering fits. Those investors dont have the good advisers, cant manage their anxiety and move to cash. But the market comes back, and it comes back higher each time. And about once every decade the market declines over 30 per-cent and investors who cant handle the heat have to leave the kitchen. But the market comes back higher it has done so every time.

Its easy to anthropomorphize the stock market as bullish, fickle, stubborn, raging, bearish, unresponsive or nervous. Busi-ness writers commonly ascribe these verbs (and others) to the market, giving it human traits. And because the stock market is a millisecond-by-millisecond consensus of what millions and millions of buyers and

sellers are thinking, it has developed its own, endogenously generated, circadian-like rhythm.

And Morgan Housel proved it. Housel, an analyst for the Motley Fool, reviewed stock market data going back to 1871 that covered a plethora of financial crises, national scandals, horrible recessions and two world wars. His research determined theres an 80 percent degree of probabil-ity that every five years after 1871 youd be worth more money because your portfo-lio will have a higher value. According to Housel, the S&P 500, every five years since 1871, adjusted for dividends and inflation, rose an average of 47 percent. But when the S&P falls 20 percent, the 5-year returns averaged 61 percent. After a drop of 30 percent, the average return over the fol-lowing 5 years was 78 percent. But after a 40 percent drop, the returns 5 years hence averaged 102 percent. And those numbers aint chopped liver.

Market drops never feel temporary but they always are. Stay the course, but can that corpse of a broker who is dangerous to your financial health. And yes, the coun-try seemed so much better off in 1984 but that was because you were single and a 22-year-old kid.

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Do asset allocation and diversification still work?CARRIE SCHWAB-POMERANTZ

Here we go again. Just when we thought we could put the worries of 2008 and its aftermath behind us, mar-ket volatility once again has individual investors spooked and wondering what to do. While every investor knows that risk comes with the territory, the recent wild gyrations are enough to make even the hardiest investors question their approach.

So it comes as no surprise that Im get-ting a lot of questions about how to pro-tect a portfolio. People understandably want to know if the standard thinking has changed, and if so, how. The good news is that even though some points of execution have been fine-tuned, the fun-damental principles of asset allocation and diversification remain the best ways to control risk. Lets take a look:

Asset allocation and diversification still best for risk controlAsset allocation and diversification seem pretty similar, and a lot of folks confuse the two, but theyre actually quite dif-ferent. The key to creating a lower-risk portfolio is to understand that difference and how the two work together.

Asset allocation is the way you divide your money among stocks, bonds, cash and other investments. This division into the various asset classes should be based on how much risk youre will-ing to take and how soon youll need your money. Stocks carry the highest risk, cash the lowest, and bonds/fixed income are somewhere in between. Any money youll need within the next three to five years should be kept in lower risk investments.

The use of asset allocation as a way to manage risk was first introduced in the 1950s as Modern Portfolio Theory. This theory basically proposed that rather than judging risk by looking at an indi-vidual investment, you need to look at how all the investments in your portfo-lio work together. By choosing a variety of investments that react differently to market conditions those described as having a low correlation to each other an investor could reduce overall risk.

Diversification takes this a step fur-ther. It spreads your money around dif-ferent types of investments within each asset class. For instance, instead of one stock or bond, ideally you would have many of each. Dividing even further, you want to have different types of stocks, such as large cap, small cap and interna-tional. And within those divisions, it may be best to have stocks in different sectors


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(i.e., technology, healthcare, telecommu-nications) and different industries within the sectors. Your ultimate goal is to find investments that dont move in lock step with one another. That way, when one investment goes through a rough patch, another will hopefully compensate.

You might say that asset allocation lays the foundation for the structure of your portfolio, and diversification fills it in. With the two working together, you have greater exposure to investments that ideally will perform differently under various market conditions one may go up when the other goes down and balance your risk.

Adapting to changing market realitiesBut we live in a far from ideal world. Since the 2008 financial crisis, theres been a much higher correlation between asset classes. Anticipated returns from stocks and bonds are both lower. Globalization has meant that markets are more suscep-tible to external shocks not only financial but also political and environmental.

And investors are more wary. As a result, updated portfolio advice, while still built upon asset allocation and diversifica-tion, focuses more on downside risk with the goal of giving you the greatest return

for the least risk. This means that there are some further refinements that todays investor needs to consider.

Finding your target asset mixAs I mentioned before, the appropriate basic mix of asset classes depends on your feelings about risk and how long you plan to keep your money in the market. Tradi-tionally, an aggressive investor with a long time horizon and a high risk tolerance might have as much as 90 percent of a portfolio in stocks with 10 percent in cash; a moderate investor could have perhaps 60 percent stocks and 40 percent bonds and cash; a conservative investor could pare that back to 20 percent stocks and 80 percent bonds and cash. Of course, the more aggressive the portfolio, the greater the risk.

Those broad categories still hold, but whats evolved is the fine-tuning possible within them. Individual investors now have access to what are considered non-traditional asset classes that can offer even greater diversification. These include things like real estate investment trusts, commodities (i.e., energy, agriculture, pre-cious metals), Treasury Inflation Protected Securities, and international bonds among others. These non-traditional asset classes

have low correlation to traditional asset classes they move differently in different markets so adding them to your portfolio can potentially lower your investment risk.

How to stay on top of it allAn appropriate asset allocation and a long-term view are still fundamental to mitigat-ing risk and protecting your portfolio, but that doesnt mean you should invest and forget.

While its never smart (and rarely suc-cessful) to try to time the market, you can take advantage of market opportunities or attempt to avoid risk by tactically chang-ing your asset mix within a certain range. Its important to note, however, that this doesnt mean that you would move in and out of the market altogether, but rather making subtle shifts to respond to chang-ing market conditions. For instance, if your current equity allocation is 40 per-cent, you may choose to underweight or overweight by a small percentage, depend-ing on the markets. At the very least, you should be reviewing your portfolio quar-terly and rebalancing yearly to stay within your target asset allocation.

Theres a lot to think about, but bottom line, yes, asset allocation and diversifica-tion are still essential for protecting your

portfolio. But to make yourself feel even more secure, it would be a good idea to check in with your financial advisor and dis-cuss adjustments you might make in light of our current financial realities.

Carrie Schwab-Pomerantz, Certified Financial Planner, is board chairwoman and president of the Charles Schwab Foundation and author of The Charles Schwab Guide to Finances After Fifty. Read more at http://schwab.com/book. This column is no substitute for individualized tax, legal or investment advice. Where specific advice is necessary or appropriate, consult with a qualified tax adviser, CPA, financial planner, or investment manager.

This column is no substitute for an indi-vidualized recommendation, tax, legal, or personalized investment advice. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner or investment manager. Asset allocation and diversification cannot ensure a profit or eliminate the risk of invest-ment losses. To find out more about Carrie Schwab-Pomerantz and read features by other Creators Syndicate writers and car-toonists, visit the Creators Syndicate website at Creators.com CREATORS.COM



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Charity for the long termTalking with the director of the Jewish Federations endowment foundation

LARRY YUDELSON

Robin Rochlin takes the long view.She runs the endowment foundation of the Jewish Fed-eration of Northern New Jersey.

Its the planned giving arm of the Jew-ish Federation, she said. Our mission is to work with our existing federation donors and the broader Jewish community to think about their longterm philanthropy.

If you answered the Super Sunday call to support the federations annual campaign you did answer the call, didnt you? thats short term philanthropy. Ms. Roch-lin wants to have the conversations with you about mak-ing the gift permanent.

Its called PACE perpetual annual campaign endow-ment. The rule of thumb is that 20 times your annual gift would perpetuate that gift based on a five percent distribution. If somebody is making a $1500 gift to fed-eration on annual basis, they can perpetuate it with a $30,000 endowment, she said.

You can make that gift tomorrow, with cash or appre-ciated securities. (Theres no capital gain tax on securi-ties donated to charity.) Or you can wait until after your death, leaving a bequest in your will for the gift, or nam-ing the charity as the beneficiary of an IRA or life insur-ance policy.

There are many ways to fulfill the gift, she said. The idea is that you lend sustainability to the charity or the program that is near or dear to you.

In addition to the PACE gifts, and the Lion of Judah endowment, where a woman perpetuates her $5,000 annual gift to federation through a $100,000

endowment, Ms. Rochlin also has opportunities for people to perpetuate and support specific programs or organi-zations they value by designating their endowment for a particular funding area.

It can be a field of interest, to support the elderly or Jewish education. Or it can be much more specific to fund a particu-lar program. We have designated funds that are used to support Israel experi-ences or Jewish camping, March of the Living, or Jewish education broadly.

Are there specific things that are important to you that you want to make sure are funded? The broadest gift would

be for the annual campaign, which would give federa-tion the broadest flexibility. If youre interested in help-ing a particular demographic, say youre interested in helping the elderly, the broader the terms, the better the fund can be adaptive over time. Todays needs for the elderly may look different than 20 or 30 years in the future, she said.

This year, the federation used a fund set up to provide for the elderly to help launch the Independent Trans-portation Network of North Jersey.

The federation recognizes donors who commit to giv-ing at least $100,000 with membership in its Dor LDor society. Those are typically for unrestricted or annual campaign endowments, Ms. Rochlin said.

All told, the federation has 145 pledges and gifts in this range, totaling over $40 million.

We also have a book of life. Any donor who leaves an unrestricted gift of $5,000 can have a page in our book of life. Its an opportunity for a donor to have their story, a photo, a brief comment about who they were and why they had a commitment to Federation in their will. Some people use it to talk about the values they learned from their parents, some people use it to focus on the future of our community.

Thats when the donor makes their plans for the gift

Robin Rochlin PERRY BINDELGLASS

From one of online videos created by the Endowment Fund.


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known before their death. Some donations the federa-tion only learns about after the will is read. In those cases, well help a family member write a page in memory of the person who has made the commit-ment, she said.

Recently, the endowment foundation has expanded its work on sharing stories of peoples Jewish values with a new initiative, The Conversation Project.

We interviewed a number of people in our com-munity and made a number of videos about what connects people to Judaism and their community. We started in August and hired a professional videogra-pher, interviewed nearly a dozen people in our com-munity of different ages, from different towns, and engaged them in conversations about Jewish values. We have since produced four videos that talk about the things that surfaced: The importance of commu-nity, of giving back, what a legacy means, how we think about where we are in the chain of Jewish tradi-tion, and what it means to lean on our community and be part of the global community.

In January we hosted three speakers. We served lunch, showed the video, and opened up a dialogue about Jewish values, she said.

The important things that surfaced in all of these sessions was how do we want to be remembered, and how does that thought inform the life that we lead? If we are conscious that we want to lead a life of mean-ing, hopefully that allows us to experience our tradi-tion and our community and our lives in more focused and meaningfully fulfilled ways.

Thats part of the work of the endowment foun-dation, to consider what our legacies are and how theyre connected to the past and how we want them to be a bridge to the future, she said.

Theres another aspect of the endowment founda-tion and Ms. Rochlins work that has a more immedi-ate aspect. That is the area of setting up donor-advised funds. Donors give money to the endowment fund, and then advise the fund which charities to support.

Its something thats become very popular in todays world. Its a way of streamlining your chari-table giving.

You would contribute a sum of money or appreci-ated securities to a donor advised fund. Its an unre-vokable, completed gift to federation for charitable purposes. You get your tax receipt outright. But the IRS allows you to request how money from that fund will be contributed over time, she said.

Theres a $5,000 minimum contribution to start the fund, and the grants the funds disburses must be at least $100. Theres no maximum number of grants that can be made a year.

Distributions go out on the letterhead of Federa-tion, so it shows the impact of federation in the greater world. It has a non-quantifiable impact.

Its also a way to engage your family in philanthropy, she said.

Sometimes people will include their kids in deci-sions of how the dollars will be allocated. You can name your children as successor advisers so kids can continue your philanthropy.

We have a few funds that were set up in a will as donor advised funds to empower children to engage in philanthropy. If the donor wants to encourage his or her kids to give to Jewish causes, that can be set up as a parameter of the fund.

All the assets in our endowments are invested in a diverse portfolio. Each fundholder shares on a pro-rated basis on the earnings of the portfolio, she said.

The federation has about 100 donor advised funds now.One of the benefits of working with the federation is we

have a planning and allocations department to find out what are the unmet needs. We have an opportunity to share that information with our donors and highlight certain items they might consider giving to. Because we have a global net-work, we have the knowledge and resources of people on the ground in Israel and around the world that can help us with opportunities for giving.

The main message is really that the federation endow-ment is here to help people realize their philanthropic goals, specifically over the longer term, to have a lasting impact in the community. We can work flexibly with them to make sure that the causes that are important to them carry for-ward into the future.

For more information about the federation endowment, email Robin Rochlin at [email protected] or call her at (201) 820-3970.



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OF NORTHERN NEW JERSEYJewish Federation

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LORI R. SACKLER

Women and men, pay attention.Women around the world pull the purse strings. Women control and influence upwards of $20 trillion, or 27% of the worlds wealth. Here in the U.S., their decision-making correlates to 39% of the nations investable assets.

C-suite women surveyed appreciate female financial advisors

Because women are increasingly influential over money matters stud-ies find that up to 66% identify them-selves as the primary decision-makers over their household assets we need to take a closer look at the issues affecting women vis-a-vis their wealth. How do they view their own personal financial management?

With an eye toward better understand-ing the challenges and needs of contem-porary women entrepreneurs and exec-utives, I interviewed a cluster of female executives in U.S. private and public corporations to gain their insights.

Successful women feel strongly about working with female financial advisors, perhaps because women understand other women and the processes and obstacles that had to be overcome for success.

Many male financial advisors have traditionally over-looked the female investor, said Deborah Rosado Shaw, senior vice president, chief global diversity and engage-ment officer of PepsiCo.

Women want to be understood, listened to, and asked, What are your priorities? Advisors would be well-served by listening and communicating directly to the female experience.

Kellie McElhaney is adjunct assistant professor at the Haas School of Business at UC Berkeley and John C. Whitehead Faculty Fellow in Corporate Responsibility. For her, having a female financial advisor was particu-larly important during her divorce.

I learned firsthand how important it is to understand your finances, whereas I had always deferred to my hus-

band. Now, I have a close relationship with my advisor; she understands my profession, children, and values. Thats very important to me.

Andrea Turner Moffitt, author of the new book Har-ness the Power of the Purse: Winning Women Inves-tors, agrees.

An advisor who has an inclusive style by taking time to understand, educate, create a safe space, and help

clients align life and financial resources is hugely differentiated and more likely to earn the trust and loyalty of clients, says Turner Moffitt,senior vice president, Center for Talent Inno-vation and co-founder of Plum Alley Investments.

Not only do women like other female financial advisors, its a great industry for women to get more involved in. Shelley OConnor, co-head of field man-agement, Morgan Stanley Wealth Man-agement, says her industry is the ideal

business for women.Women make great financial advisors because they

are willing to listen, take time, and create a safe zone to ask a lot of questions. And, female advisors can more easily balance their work and family lives given the flex-ibility and local emphasis of the job.

For financial advisors, the strategy of catering to women is self-serving, too. When male clients pass away, their widows are very likely to fire their advisors; in fact, statistics show that some 70% of women leave their advi-sors within a year of their husbands death, precisely because they felt ignored.

Its a shift, considering that men traditionally have been the breadwinners and the ones to manage house-hold finances. Not so anymore; another recent survey that found that just over half of women with at least $25,000 in investable assets share in financial decision making with a spouse or partner, while nearly half make financial decisions on their own.

We must also keep in mind that for women to be suc-cessful, their personal finances need to be in place, and their financial advisors need to communicate about more than just investments. As Turner Moffitt notes, Women are seeking a greater basket of goods from their advisor. Women want to feel connected between money and career, workplace and community.

Over the years Rosado Shaw has seen many instances of women who make big money but dont have the right advisors to help them understand wealth-build-ing. Her advice to professional advisors? Challenge your assumptions about who women are and the assets they control. You just might find a few more well-heeled clients!

Lori R. Sackler is a financial advisor with the global wealth management division of Morgan Stanley in Paramus. She can be reached at 201-967-6267.

Morgan Stanley Wealth Management LLC (Morgan Stanley), its affiliates and Morgan Stanley Financial Advisors do not provide tax or legal advice. Investors should consult their tax advisor for matters involving taxation and tax planning and their attorney for mat-ters involving trust and estate planning and other legal matters. Investing involves risks and there is always the potential of losing money when you invest. The views expressed herein are those of the author and may not necessarily reflect the views of Morgan Stanley Wealth Management, or its affiliates.

Lori Sackler

Women want to be understood, listened to, and asked, What are your priorities?

Advisors would be well-served by

listening and communicating

directly to the female experience.


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Robin Rochlin | [email protected] | 201.820.3970


Whether youre busy raising a family, planning for reti rement, or enjoying your golden years, if you are thinking about your legacy, we can help. Jewish Federati ons Endowment Foundati on can help you design a legacy gift that honors your vision and refl ects your passion. We off er a wide variety of opportuniti es for investi ng in the future, including Donor Advised Funds. Your legacy gift helps to ensure a vibrant future for generati ons to come.

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TAWNY MAYA MCCRAY

One out of every 100 taxpayers will face something extra this year a dreaded IRS audit. The following are some tips to help prepare you if you are one of the unfor-tunate few to be summoned by the Internal Revenue Service.

According to the legal guide publisher Nolo, in an audit, you must convince the IRS that you reported all of your income and were entitled to any credits, deductions, and exemptions that are questioned. To do this, you must provide records receipts and other supporting documents that pertain to the year under audit. If you are missing any records, you are allowed to reconstruct them.

The experts at Debt.org state that documents you may be asked to bring include home mortgage state-ments, previous tax returns, receipts, brokerage state-ments, retirement account records, and pay stubs. Once the paperwork is gathered, you should under-stand where there might be problems and determine whether you need legal representation. You may want to contact a tax professional to review your doc-uments and make sure you understand any and all discrepancies.

Certified public accountant Amber Mock-Done says you should be able to provide supporting documents for everything youve deducted on your tax return.

If everything jibes, youre ready, she says. If you cant find any support or you realize that you made a big mistake, its time to probably consult with a quali-fied accountant and see what your options are.

In the article from Debt.org, it states that an audit in no way implies suspicion of criminal activity and does not imply that you have intentionally made an error. Many tax returns are chosen based on random sam-pling and income document matching. Some are cho-sen based on other factors, such as income or unusual deductions.

Other reasons you may be audited, says the arti-cle, include conflicting third-party reports regarding income on 1099s or W-2s, home office deductions, rental losses, business use of a vehicle, hobby-related deductions (also known as hobby losses), and foreign currency transactions or bank accounts.

Mock-Done says those taxpayers who choose to have a professional do their taxes versus doing them themselves have a duty to understand whats being included in the return.

Ive seen too many people just rely on their CPA or on H&R Block, she says. Like, Heres my stuff. Give me a good refund. Thank you. You have a responsibil-ity to review your tax return.

She says people with a standard W-2 are less likely to have a problem, unless theyve itemized too many things. It gets more complicated for those who have a 1099 or other business returns.

If you own a business, maintain a separate check-ing and savings account that is completely indepen-dent of your personal account, she advises.

When it comes to the actual audit, which will take place in person at an IRS office or at your house, you can choose to represent yourself or have someone for example, a tax attorney or CPA wrepresent you or sit alongside you.

Your numbers upHow to handle an audit

During the meeting, Mock-Done says, its important to keep the conversation to a minimum.

They will take anything you say and dig, so be very care-ful, she says. Less is more. I wouldnt just start talking; I

would wait for them to ask the questions. I think you need to be concise with your answers.

The article from Nolo says you shouldnt expect to SEE NUMBERS PAGE 42



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come out of an audit without owing something. It recom-mends that you dont try to compromise on the amount of taxes to be paid; instead, negotiate the tax issues with the auditor.

The article from Debt.org states that an IRS audit may end with no changes, an agreed-upon change, or changes that you disagree with and appeal.

You will have options for when to make a payment. You can request a monthly installment plan if you cannot afford the payment.

The article goes on to say that any tax deficiency will accu-mulate interest at a rate of 9 percent per year from the date of the original return until you pay the bill. The interest is compounded daily. The IRS examiner will often have this information prepared, showing the total you owe.

Based on the type of errors discovered during the audit, you could face a penalty of up to 75 percent of the defi-ciency, and in a severe case, you could also face imprison-ment, the article states.

When all is said and done, a relatively small number of audits are handled by an IRS agent. Routine errors from incorrect math or missing paperwork are often handled

Numbers FROM PAGE 41

through correspondence, the article reads. More than three-quarters of audits are completed through the mail.

Mock-Done says the main thing you can do to be pre-pared for an audit is to keep your paperwork. Accord-ing to Debt.org, you should keep all tax returns and records for three years.

Keeping organized files is a good idea, but frankly, even just shoving it all in an envelope and keeping it is better than nothing, Mock-Done says. At least you have it.

CREATORS.COM

A resolution to keep: Save more moneyAlmost every New Year, money-related goals rank near the top of resolution lists, right alongside eat healthier.

The struggle is real. Many try to save money at least for a few weeks by bringing a sack lunch to work, driving past their fancy coffee shop, or ignoring enticing emails of storewide clearance sales.

USAA Bank surveyed people of all ages and income levels about how they save money and find extra cash in a pinch. Though many respondents said they are trying to save, most expressed difficulty doing so.

Savings are typically based on life stages. Those who are just starting out are saving for a major pur-chase, such as a car or home. If youre older youre more focused on retirement, says Mikel Van Cleve, director of personal finance advice at USAA.

As expected, USAAs research found a persons ability to save largely depends on their age and household income. Older Americans and those with greater incomes use their savings to cover unexpected expenses and save for retirement.

When asked how they cover unexpected expenses, most respondents reported taking money out of a sav-ings account. However, nearly half of respondents seek out additional work; 35 percent have been com-pelled to borrow money from family and friends; 23 percent have sold personal items and 8 percent have taken out a payday loan.

More than half of American households have less than one month of income available in readily acces-sible savings to use in case of an emergency, according to a new report from the Pew Charitable Trusts.

The good news is that eliminating the occasional grande macchiato and ignoring a swanky handbag thats finally 50 percent off, might not be necessary or most effective. JJ Montanaro, certified financial plan-ner at USAA, said theres a better way to save.

He offers a few simple strategies to try in 2016: Review routine bills and compare service provid-

ers. Look for ways of reducing fees and costs. Look into refinancing your mortgage or auto loan

you may qualify for a lower rate. It doesnt hurt to ask.

Find the right credit card. Look for a card with a low interest rate or cash-back rewards.

Trade down to a less expensive car. We often spend more on transportation than necessary.

Most people think that in order to make a dent in their savings, they have to cut out all unnecessary daily expenses like trips to the coffee shop, but there are other ways to help you save more and reduce annual spending, Montanaro said.

To learn more about how USAA can help you reach your financial goals, visit www.usaa.com. BRANDPOINT

Jewish World

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Ted Nugent blames Jews for gun controlTaking to his Facebook page on Monday afternoon, musician and gun rights advocate Ted Nugent posted an image of Jewish public figures under the tagline, So who is really behind gun control?

The post features a collage of Jews including New York City mayor Michael Bloomberg, civil rights attorney Alan Dershowitz, and both U.S. senators from California, Dianne Feinstein and Barbara Boxer, with the Israel flag pictured in the lower left corner of each of the 12 images.

Nugents accompanying message reads, Know these punks. They hate freedom, they hate good over evil, they would deny us the basic human right to self defense & to KEEP & BEAR ARMS while many of them have tax paid hired ARMED security! Know them well. Tell every 1 you know how evil they are. Let us raise maximum hell to shut them down!

The Anti-Defamation League condemned Nugents remarks, pointing out that the image, which Nugent did not create, has appeared previ-ously on anti-Semitic websites.

It should go without saying that anti-Semitism has no place in the gun control debate. Nugent should be ashamed for promoting anti-Semitic con-tent, and we hope that good people on both sides of the gun control debate will reject his tactics and his message, ADL CEO Jonathan A. Greenblatt said in a statement.

Nugent recently has been called out for his likes on social media for posts blaming Israel for 9/11. He has also written opinion articles advocat-ing peace for Israel by eliminating the Jewish states enemies with superior firepower.

Nugent did not respond to multiple requests for comment. JNS.ORG

IDF chief says soldiers have a duty to disobey illegal ordersIn an effort to maintain transparency in the Israel Defense Forces, Israels army chief said that sol-diers have a duty to disobey illegal orders.

Any soldier who enlists in the military is given a lesson about unlawful orders, said IDF Chief of Staff Lt.-Gen. Gadi Eizenkot at an academic confer-ence in Herzliya, Israel. Its not a right, but an obli-gation not to carry out illegal orders. We explain to soldiers that we demand that they not carry out illegal orders.

Im not talking about the hundreds of soldiers who later make statements to the press, he added. But its important to understand that its a duty to disobey illegal orders.

Eizenkot said the IDF will be stronger and bet-ter after meeting with members of Breaking the Silence, the NGO that promotes criticism of the Israeli military through the testimonies of former soldiers, to follow up on claims made by the dis-charged soldiers.

We expect from our soldiers that our values be adhered to in real time, and not that they break their silence three years later at some conference, he said. One has to carry out legitimate missions in a manner that is compatible with the IDF spirit. Where this does not occur, its a soldiers obliga-tion, not his right, to desist. JNS.ORG

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Music at Temple IsraelPresents

A Winter Music SaturdayFourth Annual Chamber Music Concert

featuring artists sponsored byAmerica-Israel Cultural Foundation

February 20, 2016-8:00 p.m

Barak Shossberger

Violin

Benjamin Goodman

Piano

works by Beethoven,

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BEN SALES

KFAR CHABAD, Israel In an otherwise deserted field at the center of this rural Israeli village, a Brooklyn brownstone pres-ents an incongruous sight.

If it looks like it would fit perfectly in Crown Heights, thats because it already does. The three-story apartment house topped by three gables, is a brick-for-brick reconstruction of 770 Eastern Parkway, the storied headquarters of the late Lubavitcher rebbe, Menachem Mendel Schneerson, and his Chabad-Lubavitch movement. The address is etched next to the doorway of the Israeli replica, 6,000 miles from Brooklyn and about 11 miles from Tel Aviv.

The building is an alternative to whoever cant go to him in the United States, said Rabbi Menachem Latar, the manager of the Israeli version of 770, referring to Schneer-son. As a Chabad chasid, if you were with the rebbe and had a meeting with the rebbe,

you imagine everything that was in the pres-ence of the rebbe.

The out-of-place brownstone symbolizes the mission of this community of 6,000 Chabadniks, who call their village the capi-tal city of the Chabad movement. Its ware-houses organize and distribute ritual and educational materials for the chasidic out-reach movements global network of emis-saries, and it acts as a home base for Chabad chasidim across Israel.

Twenty-two years after Schneersons death, the village aims to perpetuate his legacy.

But Kfar Chabad also exists in tension with Chabads ethos of outreach. Schneer-son sent his followers to far-flung cities from Colombia to the Congo, setting up outposts to greet and engage Jews wherever they may be. Chabad emissaries sometimes are only observant Jews in their city. Kfar Chabad is the only place in the world where every resi-dent is a Chabadnik.

Brooklyn meets country living: Life in an all-Chabad Israeli village

For someone living outside Kfar Chabad, his Chabad [allegiance] could cool down, said Nochum Lurie, who grows etrogs in one of the villages orchards. Here its warming up all the time. If a tree grows separately, it can grow crooked. But in the woods, the trees stand tall.

One of the main functions of the vil-lage is to act as a wholesaler of Chabad ritual objects. Lurie maintains his trees for the fall festival of Sukkot, when crates of his etrogs are sent to Chabad chasidim worldwide. Three months before Passover, children and adults at a local factory begin baking matzah to be sent to Lubavitch emissaries all over the world. A large childrens bookstore sells serials for Chabad boys and girls. A leather bookbinder puts out identical sets of Chabad texts.

The towns flagship exports, how-ever, are emissaries. An estimated 1,500 emissaries, known in the parlance as shluchim, have come from the town, serving across Israel and the world. Many children are raised by their grand-parents because their parents are serv-ing abroad.

Here we grow emissaries, and thats no less important, said Bracha Tvardov-ich, a Kfar Chabad resident with children serving as emissaries in Israel, Miami, and Antwerp, Belgium. There are insti-tutions that serve Chabad nationwide.

Kfar Chabad also has attracted some of the more extreme elements of Chabad ideology. In the past two elections, the vast majority of Kfar Chabad voters chose parties with far-right Kahanist

candidates, hewing to Schneersons pro-hibition against Israel ceding land.

City leaders, along with many oth-ers, speak of Schneerson in the present tense, suggesting a belief that the rebbe, whom many believe is the Messiah, is not quite dead. The Torah ark in Kfar Chabads 770 replica refers to Schneer-son as the king messiah and uses an acronym after his name that translates to May he merit a long and good life, Amen.

The Israeli version of the 770 head-quarters features a replica of Schneer-sons study. In Brooklyn, this is where Schneerson would greet and hold pri-vate meetings with visitors from across the globe. At Kfar Chabad, a perpetually empty chair sits opposite the door, and Chabad chasidim often use the room to pray privately, recite psalms, or feel close to their leader.

He didnt die, Binyamin Lifshitz, the village manager, said of Schneerson. He went away. Hell come back.

Schneersons predecessor, Rabbi Yosef Yitzchok Schneersohn, instructed 74 Chabad families who had survived the Holocaust to found the village in 1949, one year after Israels independence. According to Lifshitz, Schneersohn wanted to help settle the land while ensuring that his followers retained their ideology during a time of upheaval. Early residents raised cows, chickens, and goats, while also growing oranges, clementines, and wheat.

Sixty-seven years later, Kfar Chabad has lost most of its agriculture and gained a train station. But it remains a

A man bakes matzah in a brick oven in Kfar Chabad. The village provides ritual materials to Chabad emissaries across Israel. PHOTOS BY BEN SALES

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THE UNREACHABLE STARSStarring Phantom of the Opera Broadways Jeremy StolleSaturday, February 20, Sharp Theater 8 P.M.Tickets: $35/32/27; Children under 17: $20

Broadways Jeremy Stolle, currently starring in The Phantom of the Opera, is accompanied by special award-winning guests Mary Michael Patterson (Phantom of the Opera, Anything Goes, The Sound of Music) and Michael Mott, Broadway recording artist of Where the Sky Ends, to bring you hit after hit from The Great White Way.

A brick-for-brick replica of Chabad headquarters in Brooklyn stands at the center of Kfar Chabad, a rural Israeli village founded by Lubavitcher chasidim in 1949.

sleepy town, without a traffic light and with one small supermarket dominating a tranquil, central roundabout. Lamp-posts featuring pictures of and quotes by Schneerson line suburban-style resi-dential neighborhoods.

Many of the residents know each other, and there are no street addresses. Say a name and a passerby simply will direct you to the house.

In many ways, the village is similar to several other charedi Orthodox towns across Israel. According to data from 2008, the latest available, half of the

residents are children and the villages median age is 17. Only 55 percent of adults work, below the national figure of 64 percent. Three-quarters of men 15 and older have studied in a yeshiva.

We say we need to be integrated in society and not live all together, but were in a village, said Kfar Chabad resident Sara Zilbershtrom, director of Israels Women and Girls of Chabad. The village lives the mission. Its like the backbone that makes it possible to leave.

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Lubavitcher chasidim in Kfar Chabad study Talmud at 770.

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SHAAR HAAMAKIM, ISRAEL Every morning, Bernie Sanders would wake up at 4:10 to pick apples and pears.

Leaving the cabin he shared with a few other American college student volunteers, Sanders would have a quick bite of bread before heading out to the orchard. After 2 1/2 hours of work, he and the other 20 or so volunteers would sit down for a traditional 30-minute Israeli breakfast of toma-toes, cucumbers, onions, butter, and hard-boiled eggs.

Then it was back to work. Probably.Its hard to know his routine for sure, but that Spartan

schedule was standard fare for American and French volun-teers at Shaar Haamakim, the Israeli kibbutz where the U.S. Democratic presidential candidate apparently spent sev-eral months in 1963. The name of his kibbutz had remained a mystery until last week, when Haaretz unearthed a 1990 interview with Sanders identifying the agricultural commune.

No one now at Shaar Haamakim remembers Sanders, who has preached his doctrine of democratic socialism on the campaign trail. No records with his name survive.

50 years on, Bernie Sanders still champions values of his Israeli kibbutz

But Albert Ely, 79, who man-aged the kibbutz volunteer pro-gram in the early 1960s, remem-bered someone named Bernard. And he said that if Sanders was there, he probably was picking fruit before the sun rose.

I was astonished that the name Bernard, which is French, belonged to an American, Ely said, sitting in his home here. I remember a lot of volunteers. I dont remember him. If he was here, he was with the Americans.

Founded in 1935 by immigrants from Romania and Yugo-slavia, Shaar Haamakim sits at the nexus of two valleys near the north-ern port city of Haifa. During Sanders time, its members grew apples, peaches, and pears, and were opening a factory for solar water heaters. The kibbutz also boasts a flour mill.

But as much as agricul-ture or industry, ideology drove Shaar Haamakim in the 60s. The kibbutz belonged to the Israeli political party Mapam, which had been a communist, Soviet-affiliated faction in the 1950s. Kibbutz members had admired Joseph Stalin until his death, and they would celebrate May Day with red flags. They spoke of con-trolling the means of production, taking from each according to his abilities and giving to each according to his needs.

All the members were equal in all ways, said Yair Merom, the kibbutzs chairman. They lived in identi-cal houses. There wasnt a salary; everyone received according to their needs. The kibbutz gave everything: food, shelter, education, health.

Merom says Shaar Haamakim is proud to have hosted a U.S. presidential candidate who trumpets its principles.

Our values of mutual responsibility are social dem-ocratic values, and we choose willingly to create that society, Merom said. Sanders is talking about the social democratic approach that gives freedom to the individual, but with responsibility for the whole. We do that in a practical way.

Socialist ethos permeated kibbutz life in the 60s. All of the kibbutzs 360-some members wore the same uniform: khaki slacks with a matching button-down shirt. After working in the morning and early after-noon, members often would attend committee meet-ings, where they would discuss the kibbutzs prob-lems. Until 1991, as at many other kibbutzim, kids lived

apart from their parents in a childrens house.Several things, according to Ely, were considered

taboo or bourgeois: skirts, playing cards, neckties, ballroom dancing. Instead, when they werent working or holding meetings, kibbutzniks would take classes on anything from English language to choir singing. Once or twice a week they would dance to Israeli folk songs. Tuesday was culture night.

In the 60s, the members were very idealistic, Ely said. They believed in the path they were going on. They thought it was [also] the solution to other prob-lems. They thought they had a mission to help the population outside to do as they did on the kibbutz.

Kibbutz members tried to impart some of those values to volunteers, most of whom stayed for a one-month program of work and a weeklong hike. After they finished picking fruit at noon, ate lunch, and rested for a few hours, volunteers would attend lec-tures on Zionism, the history of Israel, and kibbutz life.

Fewer than 100 volunteers came to the kibbutz annually in the early 1960s, Ely estimates. Those who stayed longer than a month, like Sanders, likely would have worked in the cowshed or the fishery. Some vol-unteers also built relationships with adoptive families on the kibbutz.

Although Shaar Haamakim, like many other kibbut-zim, underwent privatization in the early 2000s, its members still jointly own its factories and maintain a fund to support kibbutzniks in need. JTA WIRE SERVICE

A photo of Kibbutz Shaar Haamakim as it was in 1963, when Bernie Sanders volunteered there for several months. PHOTOS BY BEN SALES

Albert Ely, 79, ran the kibbutz volunteer program when Sanders was at Shaar Haamakim. He doesnt remember the candidate specifically, but does remember there being an American named Bernard.

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BRIEFS

Hamas operative killed in another tunnel collapseA Hamas operative was reportedly killed in Gaza Monday in the third deadly tunnel collapse in the coastal enclave in less than two weeks. According to Palestinian sources, the tunnel was located under the border with Egypt and collapsed due to flooding caused by the Egyptian military.

According to other sources, the collapse was caused by dirt ramparts being built by the Egyptian military along the border with Gaza.

Israeli Education Minister Naftali Bennett recommended during a recent cabinet meeting that Israel carry out a mili-tary operation to combat Hamass underground tunnel threat instead of waiting for the next round of hostilities with the Palestinian terrorist group.

Prime Minister Benjamin Netanyahu and Defense Minister Moshe Yaalon rejected the idea. A statement released by the Prime Ministers Office said, We do not comment on cabinet discussions in general and on the IDFs operational plans in particular. JNS.ORG

3 Arab Knesset members suspended for meeting with terrorists familiesThree Arab members of the Israeli Knesset Haneen Zoabi, Basel Ghattas, and Jamal Zahalka, all of the Joint Arab List partys Balad faction were suspended by the Knesset Ethics Committee for meeting with the families of late Palestinian terrorists who murdered Israelis dur-ing the current wave of violence.

Zoabi, who has a long history of anti-Israel actions and has faced Knesset discipline before, will be suspended for four months along with Ghattas, while Zahalka will be suspended for two months. Despite the bans, the Knesset members will still be able to vote at the Israeli legislature.

We will not accept a situation in which members of Knesset support the families of the murderers of Israeli civilians, and stand in memory of those who murdered our children. Theres a limit, Israeli Prime Minister Ben-jamin Netanyahu told the Knesset upon the announce-ment of the suspension. JNS.ORG

Thousands of Palestinians turn out to honor terrorists who killed policewomanThousands of Palestinians Friday turned out to honor three Palestinian terrorists who murdered an Israeli policewoman earlier in the week.

The large turnout for the funeral of the three terror-ists, Ahmed Abou Al-Roub, Mohammed Kameel, and Ahmad Rajeh Ismail Zakarneh, in the West Bank village of Kabatiya, occurred despite a closure of the village by Israeli security forces, the Jerusalem Post reported.

Earlier Friday, Israel handed over the bodies of the terrorists to the families on the assurance that they would not use their funerals for a political rally or procession.

The three terrorists killed 19-year-old border police-woman Hadar Cohen and critically injured another female officer in an attack near Jerusalems Damascus Gate. The terrorists, who were wielding machine guns, pipe bombs, and knives, were shot dead by police at the scene. JNS.ORG

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Film on French fugitive living free in Israel stirs uneaseCNAAN LIPHSHIZ

PARIS An authoritative voice and phone credit was all Gilbert Chikli needed to steal millions of euros from seasoned bankers and businessmen in his native France.

One of Frances most famous criminals, in May the 50-year-old Chikli was sen-tenced by a Paris court to seven years in jail for defrauding dozens of telephone vic-tims out of more than $8 million in 2005-06, while he was living in Israel.

But Chikli is living as a free man in Israel the country has no extradition treaty with France.

Now his story is getting a fresh look because of a new and controversial French film starring President Francois Hollandes girlfriend, Julie Gayet, based loosely on the Chikli saga. Coming at a time of rising Jew-ish emigration from France to Israel, the French-language feature Thank You for Calling (known in France as Je compte sur vous, French for Im counting on you) is drawing attention in both coun-tries to a criminal fringe of French Jews for whom aliyah, or immigration to Israel, serves as a get-out-of-jail card.

In Chiklis case, he scammed his vic-tims from Israel by presenting himself as a secret service agent in need of their help or as the president of the financial enter-prise where they worked. After building trust and preying on victims insecurities or vanity, he persuaded them to empty accounts belonging to their clients.

In one case, Chikli had a mark give an accomplice in Paris $400,000 in a bag that she passed to him under the divide of a public restroom. The cloak-and-dagger techniques were necessary, Chikli told her, to protect the identity of the secret agent handling the dropoff.

At other times, he asked victims to put clients money into a temporary account so that Frances DSGE foreign intelligence agency could flag the money before returning it to the owner. In reality, Chikli emptied the fictitious recipient accounts and kept the money.

Chikli, a tall and handsome man, fled France in 2009 for Israel through a third country while French police were work-ing to indict him. He already had spent three years in jail awaiting indictment, but was set free that year due to a lack of evidence; the prosecution presented its evidence only in 2011. Far from disputing his 2015 conviction, Chikli has bragged to the media about his technique, which he labeled the president scam in an inter-view he gave last December to i24 TV.

When it works, he boasted, you get off on it. Because youre 5,000 kilometers from Paris with a telephone and a 100-euro calling card and you can make 10

million euros (over $11 million). Eloquent and self-confident, Chikli told France 2 in an earlier interview: Im not a crook. Im a player, and it was a game to me.

Justice Ministry officials from France and Israel said talks are ongoing about extradit-ing Chikli, whom Israeli police questioned many times and briefly arrested in Sep-tember in connection with a brawl.

Chikli says he has a good life in Israel, where he deals in real estate. He even recently earned an undisclosed amount, estimated at several thousand euros, from consultancy services he gave to Pascal Elbe, the French-Jewish director of the new film based on his sto

Jewish Standard, February 12, 2016

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Transcript of Jewish Standard, February 12, 2016