The two parties have come together to pass historic bipartisan legislation – the Coronavirus Aid, Relief and Economic Security (CARES) Act. This stimulus bill, signed into law on Friday, March 27th, will inject the economy with two trillion dollars and provide relief to individuals and businesses that have been impacted by the coronavirus pandemic. Here are some of the key… Read More
Archive for March, 2020
Relief for Businesses During Coronavirus Outbreak
Many businesses are feeling the effects of coronavirus. Some non-essential businesses such as restaurants, gyms, and libraries have been forced to close by state and local governments. Other companies, while still open, are seeing cash flow issues. There are options for small businesses to see some relief. Small Business Administration’s Economic Injury Disaster Loan program Through this program, small business… Read More
How The SECURE Act Can Impact Your IRA
The Setting Every Community Up for Retirement Enhancement (SECURE) Act that took effect this year, was designed to aid Americans in saving for retirement. Here are the biggest changes that can impact your IRA. Increased Required Minimum Distribution Age One of the biggest changes brought on by the SECURE Act is an increase in the Required Minimum Distribution (RMD) age… Read More
What The Families First Coronavirus Response Act Means For Your Business
On Wednesday, March 18th, the Families First Coronavirus Response Act was signed into law. The bill aims to provide employees with additional leave if they are forced to stay home due to the coronavirus. What the bill provides The bill grants two weeks paid sick leave at 100% of an employees normal salary, up to $511 per day. It also… Read More
Tax Deadline Extension – Pay and File by July 15th
Coronavirus has been putting a strain not just on the health of Americans, but also our wallets. Because of this, the federal government is extending the tax deadline by 90 days, meaning everyone has until July 15th to pay their taxes. Does this mean you can put off filing your taxes until July 15th? Yes, on March 20th, Secretary Steven… Read More
Is The Coronavirus Different?
The coronavirus has officially been named a pandemic by the CDC as it has spread from China to the rest of the world, including the US. At Prosperity, we are actively watching the market reaction and our clients’ portfolios. We will continue to monitor the outbreak and communicate with you as events unfold. Is the Coronavirus Different? Many clients ask… Read More
Will the Markets Recover After Coronavirus?
Markets have reacted to the Coronavirus concerns and headlines and your investment account may see some volatility. While this may feel worrisome to you, remember that we’re here and we’re keeping a vigilant watch of current events as they unfold. Will The Markets Recover? Historically, markets have recovered well after epidemics. While Coronavirus may cause concern to your health and… Read More
What to Do If Family Members Ask You for Money
Helping clients navigate loan requests from their family members is tricky. The decision to lend or give money to family or friends is extremely emotional and very personal. This article on lending money to family members is unlike most you will read. It isn’t going to tell you to emphatically always say “No.” It will not provide you with definitive… Read More
Impact of Coronavirus on Your Investment
The Coronavirus has spread from China to numerous countries around the world, including the United States. Markets have been reacting as the Dow Jones and the S&P 500 have both dropped more than 13%. Stay Calm You can take a deep breath and know you have a plan that factors in market volatility. Historically, markets have recovered very well in… Read More