Midyear Economic Outlook
The decade-long economic expansion did not end with a whimper. The coronavirus brought it to a screeching halt. U.S. gross domestic product (GDP) fell 5% in the first quarter, and a steeper decline is likely in the second. Consumer spending, which accounts for about two-thirds of the U.S. economy, slid 13.6% in April, the […]
CARES Act: What Small Businesses Need to Know
The Coronavirus Aid, Relief and Economic Security (CARES) Act is an estimated $2 trillion federal relief package designed to combat the harmful economic effects of the COVID-19 pandemic. The law looks to provide cash infusions to individuals, businesses, health care organizations and state/local governments through payments, loans and tax credits. The CARES Act, which congressional […]
The CARES Act Required Minimum Distribution Updates
The CARES Act has suspended Required Minimum Distributions (RMD) for 2020. This update applies to qualified retirement accounts, IRAs, and inherited IRAs. If you have already taken a distribution and you don’t need the money, you may be able to undo your distribution if you meet two rules: Distributions must be rolled back into […]
Find Out How The CARES Act Affects You
What is the CARES Act? The CARES Act is a 2 trillion-dollar coronavirus economic stimulus bill signed into law on March 27, 2020. It is designed to offer relief for businesses, families, and individuals who have been negatively impacted by COVID-19. From direct payments to unemployment to student loan relief and more, the bill […]
U.S. Posts Record Layoffs
A business financial advisor can help you avoid costly mistakes and maximize your business returns. We send our best wishes to you, your family, and friends during these difficult times. We are all in this struggle together and we have to support one another. It’s important to be vigilant when it comes to practicing good […]
IRS Tax Deadline Changes
Recently announced IRS changes. In response to the pandemic, the IRS moved the federal income tax filing deadline back three months from April 15 to July 15. The July 15 deadline applies to: Filing income tax returns Payment of income taxes due Payment of estimated taxes due for the first quarter of 2020 Funding […]
When Will Mortgage Rates Drop?
So, the Federal Reserve Bank lowered interest rates to a range of 0% to 0.25%. Why aren’t mortgage rates following? Well, time to dust off that old college economics book. Let’s answer that by following the chain of economic reactions to the Fed’s actions and the principals of supply and demand. How is […]
3 Common Investor Mistakes During Election Years
Investing during an election year can be tough on the nerves. 2020 promises to be no different. Politics can bring out strong emotions and biases. Investors would be wise to put these aside when making investment decisions. Benjamin Graham, the father of value investing, famously noted that “In the short run, the market is […]
How Does the Coronavirus Outbreak Affect the Market?
As Chinese authorities deal with a rapidly spreading coronavirus, investors are raising questions about the potential impact on global economic growth and the financial markets. While much is still unknown about the extent of the outbreak — and, crucially, how long it may last — the initial drag on China and other emerging markets is […]
What is the SECURE Act?
SECURE Act Brings Big Changes to Retirement Account Rules President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law on December 20th, 2019. It becomes effective as of January 1, 2020. It brings sweeping changes, including a later starting age for Required Minimum Distributions, more opportunities for contributing to IRAs, and […]