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CONTACT
Cook & Co.
Bara Business Center
124 South Main Street
Arab, Alabama 35016-1351
- Main Tel: 256-586-4111
- Nationwide: 800-551-6253 or 6254
- Birmingham (Direct): 322-7452
- Huntsville (Direct): 534-6922
- Fax: 256-586-4138
- Email: info at bara dot net
- Directions:
Map
- Office Directory
- We accept VISA, MasterCard, Discover and American Express
OFFICE HOURS
Tax Season (Feb 1 - Apr 15)
Mon - Fri
9:00 a.m. - 8:00 p.m.
Saturdays 9:00 a.m.
- 4:00 p.m.
After Tax-Season (Apr 16 - Jan 31)
Mon - Thu 9:00 a.m.
- 5:00 p.m.
Closed on Fri and Sat
Scheduling an
Appointment:
With the majority of our clientele being in the Huntsville and
Birmingham metropolitan areas, we maintain direct phone lines from
those areas. In Huntsville call 534-6922. In Birmingham call
322-7452. Our local Arab telephone numbers are (Area Code 256)
586-4111, 586-4112, 586-4113 and 586-4114 (if using a cell phone,
please use one of these numbers). If you need to call toll-free,
dial 1-800-551-6253 or 1-800-551-6254.
Available appointment times on the hour are: Mornings
9, 10 or 11, Afternoons 1, 2 or 3 and Evenings 6, 7 or
8 (no evening appointments on Saturdays).
HELPFUL INFO
Our sitelinks are divided into four main categories:
The Accounting Department, where you
will find information related to; accounting, bookkeeping and
payroll.
Our Tax Department has answers to many
questions you may have regarding federal, state and local taxes,
including; income tax, sales tax, privilege tax and use tax.
In the Financial Department you will
find articles and information on; managing your finances, banking,
investing, different types of investments, cash and debt management.
The Technology Department contains
helpful information on; computers, software, information systems,
automated processes, the internet and email.
Many hours of work have gone into our effort of providing the
information contained in this website, not only to our many clients,
but the public in general. As of June 2010 we have more than 2,000
pages. To quickly find the answers to your accounting, tax,
financial or technology related questions, please use our search
box, which is in the upper left corner of every page.
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Dreaming of Financial Security
By: Staff
Do you fantasize about winning the lottery and living the life of your dreams
with no financial worries? While the odds are against you for winning the
lottery, there is a realistic way to work toward financial security. By
participating in your company’s retirement plan, you are taking positive steps
toward accumulating the money you’ll need to have a comfortable retirement.
A Dollar and a Dream
Paula spends over $20 on the lottery
every week. She is convinced that someday she will hit the jackpot, become a
millionaire and retire to Fiji. But after playing for many years, she has never
won a dime. Paula contributes only 5% of her $25,000 salary to her retirement
plan. While it’s good that Paula is contributing something to her retirement
plan, imagine if she also invested the money she usually spends on the lottery
in her plan account.
Playing to Win
If Paula continues contributing only 5% of her salary -- $1,250 -- to her
company’s retirement plan, she will accumulate $155,251 in 30 years at an 8%
average annual total return (compounded monthly). However, if Paula stops
playing the lottery and instead contributes $100 more a month to her retirement
plan, her total annual contribution would increase to $2,450. After 30 years at
an 8% average annual total return, she will have accumulated $304,287 in her
account.* An extra $149,036 is a lot better than a pile of losing lottery
tickets. And, when she retires, Paula probably could afford to enjoy a long
vacation on a tropical island.
A Win/Win Situation
Your company’s retirement plan is more convenient and flexible than any game of
chance. Plus, it reduces your taxes, which truly makes it a win/win situation.
Saving through your company’s retirement plan is convenient because your
contributions are automatically deducted from your paycheck. Your decision to
save for retirement needs to be made only once, and, since you never see the
money you contribute, you aren’t even tempted to spend it.
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Most plans are flexible, allowing you to decide how much to contribute and
select which investments complement your needs and goals. As time goes on, you
may decide to increase your contribution or adjust your investment mix. Your
retirement plan is designed to meet your changing needs.
Best of all, your company’s retirement plan saves you taxes. You pay no current
federal income taxes on your plan contributions. As an added bonus, the income
earned in your plan isn’t currently taxed either. Taxes will be due once you
retire and start using the money (or if you receive an earlier distribution). In
the meantime, however, the benefit of tax-deferred compounding could help your
retirement savings grow at a much faster rate than they would in a taxable
account.
Your Retirement Plan Is a Winner
Next time you consider playing the lottery, remember that you don’t have to win
the lottery to gain financial security. In fact, the odds of being a winner are
much better with your company’s retirement plan. Saving with your company’s
retirement plan for many years can help you achieve the retirement of your
dreams.
*This is an illustration only. The figures do not represent the actual
returns of any specific investments. Your investment results will differ.
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