🖨 Print⏱ 3 min readEach year, millions of Americans make donations to charitable organizations and receive something in return – a tax break. However, the 2017 Tax Cuts and Jobs Act curbed this tax advantage because it reduced the number of people eligible to claim a charitable deduction by raising the standard deduction. For 2020, … Continue reading “How To Use Qualified Charitable Distributions For Charitable Giving”
🖨 Print⏱ 4 min readThe U.S. job market gained 2.5 million jobs during the month of May, dropping the unemployment rate to 13.3 percent, according to the U.S. Bureau of Labor Statistics. There’s likely been a lot of rehiring, with more to come as the economy continues reopening. However, until social distancing becomes a thing … Continue reading “Hiring in the Age of Coronavirus”
🖨 Print⏱ 3 min readThe CARES Act stimulus package substantially relaxed the rules around certain retirement account loan and distribution requirements, but with much confusion. As a result, the IRS recently put out a FAQ document to address the COVID-19 rule relaxation around IRA and 401(k) loans and distributions. This important information should come as … Continue reading “IRS Questions and Answers on COVID-19 IRA and 401(k) Loans & Distributions”
🖨 Print⏱ 3 min readPaycheck Protection Program and Health Care Enhancement Act (HR 266) – This is a multilayered legislative bill divided into four distinct sections. Phase 1 authorized funding for coronavirus preparedness and response; specifically, for measures such as vaccine development and public health funding. Most of the money was allocated to the Department … Continue reading “In the Wake of the Coronavirus Pandemic, Congress Passes the Most Expensive Single Spending Bill in American History”
🖨 Print⏱ 4 min readMost states are starting to relax stay-at-home restrictions. As such, businesses are developing plans for bringing employees back to work. Many businesses are already affected by the pandemic and their future looks grim. Specifically, we are going to look at the IT sector and examine what spending might look like in … Continue reading “How IT Spending Will Change When Business Resumes”
🖨 Print⏱ 4 min readDue to the unprecedented effects of COVID-19, the line between our professional and personal lives has blurred. Trying to take care of job responsibilities from home requires new ways of navigating. Here are a few ideas to help you become more productive while working at home – and stay grounded in … Continue reading “How to Stay Productive When Working from Home”
🖨 Print⏱ 3 min readThat year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst times for a sustained market decline. Market analysts call this scenario the sequence of returns (SOR) risk – because once your principal has been significantly reduced, … Continue reading “Why Sequence of Returns Risk Matters Now”
🖨 Print⏱ 4 min readAfter seeing a peak and then a sustained decline in coronavirus cases, hospitalizations, and deaths resulting from COVID-19, the White House and the Centers for Disease Control and Prevention has rolled out a three-tier approach to get the nation back to its pre-coronavirus economic activities. While this program is led by … Continue reading “Understanding the Federal Government’s Proposal for Opening Up Again”
🖨 Print⏱ 3 min readOne of the most important provisions of the CARES Act for small businesses is called the Paycheck Protection Program (PPP). The PPP is a $349 billion program designed to assist small businesses (fewer than 500 employees) facing financial difficulties as a result of the COVID-19 pandemic through specifically structured loans. The … Continue reading “Be Right About Free Money: Potential Legal Risks of the Paycheck Protection Loan Program”
🖨 Print⏱ 3 min readCoronavirus Aid, Relief and Economic Security Act (HR 748) – This legislation provided $2 trillion of stimulus relief in response to the coronavirus crisis. Provisions of the bill include: $1,200 for each American making up to $75,000 a year Additional $600 a week in unemployment benefits for up to four months … Continue reading “More Coronavirus Relief, Plus Beefed-Up Security for Technology, the Elderly, and Children Born to U.S. Citizens Serving Overseas”