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COVID-19

Recent Webinars:

If you’d like a copy of any of these webinars, fill out the form titled, “Did you miss a recent COVID-19 webinar?” on the right!

  • The New Normal: How the COVID-19 Pandemic is Changing How We Conduct Business
  • Paycheck Protection Flexibility Act Webinar
  • What Business Owners Need to Know about COVID-19
  • CARES Act Q&A Webinar
  • Coronavirus Market Impact Webinar

Blog

How the COVID-19 Pandemic is Changing how we Conduct Business

How the COVID-19 Pandemic Is Changing How We Conduct Business

Recently, we hosted a webinar in partnership with Baltimore law firm Miles & Stockbridge on how businesses are adapting to “the new normal.” If you missed our webinar, don’t worry. This blog will be a summary of the main points and you can get a copy of the full webinar by filling out the form on our COVID-19 page! The… Read More


Market Recap: 2nd Quarter 2020

Market Recap: 2nd Quarter 2020

After a disastrous first quarter, the stock market rallied and had its best quarter in more than 20 years.  The S&P 500 gained around 20% for the quarter, while the Dow Jones Industrial Average gained over 18%.  For the year, technology stocks, led by companies such as Apple, Microsoft, and Amazon, have greatly outperformed other sectors.  Much of the quarter’s… Read More


Apply Early For PPP Forgiveness

You Can Apply Early For PPP Forgiveness

A common question we get is whether PPP loan recipients can apply for forgiveness before the end of their covered period. The SBA released a new interim rule to provide clarity on this issue. Borrowers can apply for loan forgiveness before the end of their covered period. However, if the borrower has reduced any employee’s wages by more than 25%,… Read More


New PPP Loan Forgiveness Application

On Wednesday, June 16th, the SBA and Treasury released a revised Paycheck Protection Program application to reflect the program changes brought by the Paycheck Protection Program Flexibility Act. There are two applications: Revised PPP Loan Forgiveness Application and instructions EZ PPP Loan Forgiveness Application and instructions The new EZ Application If you’re eligible, the EZ application requires fewer calculations and… Read More


What the Paycheck Protection Program Flexibility Act Means for Business Owners

The Paycheck Protection Program Flexibility Act (PPPFA), passed Friday, June 5th, has the goal of making it easier for PPP loan recipients to qualify for forgiveness. Here are the major changes: Extended Covered Period Prior to PPPFA, borrowers had to spend their loan funds within an 8-week Covered Period following the receipt of their funds. Now, borrowers have 24 weeks… Read More


Updated Paycheck Protection Program Information

Updated Paycheck Protection Program Information

When the Paycheck Protection Program was launched, many business owners felt both relieved and confused. While the opportunity to receive up to $10 million in forgivable loan funds has been a saving grace for many businesses, borrowers were left with many questions on forgiveness and the rules surrounding the use of these funds. The SBA and Treasury has been releasing… Read More


Don’t Fall Victim to Coronavirus Cybersecurity Threats

As the coronavirus threat spreads, we take protective measures such as social distancing, wearing face masks in public places, washing our hands and disinfecting our surfaces. Unfortunately, there’s a threat outside of our physical health that we also need to protect ourselves against – Cybercrime. Cybercriminals are targeting people while they’re most vulnerable. In 2019, American’s lost $1.9 billion to… Read More


The Coronavirus Bear and Its Place in History

The Coronavirus Bear and Its Place in History

The pace with which the Coronavirus bear toppled the longest-running bull market in history was startling. The Dow Jones Industrial Average officially entered the “Coronavirus bear market” in just 20 trading days, easily making it the fastest such slide in stock market history. The second fastest was 1929 and that took 36 trading days. Lest we forget: the highest closing… Read More


How can the Paycheck Protection Program help business owners?

How can the Paycheck Protection Program help business owners?

The recently passed two trillion dollar stimulus bill, the CARES Act, includes a $350 billion provision for small businesses called the Paycheck Protection Program (PPP). The goal of the program is to get cash to small businesses impacted by coronavirus as quickly as possible. PPP hopes to incentivize business owners to keep employees on the payroll by offering them loan… Read More


How the CARES Act Impacts Your Retirement Plan

How the CARES Act Impacts Your Retirement Plan

The Coronavirus Aid, Relief and Economic Security (CARES) Act is a stimulus bill that will inject the economy with two trillion dollars and provide relief to individuals and businesses that have been impacted by the coronavirus pandemic. There are numerous provisions in the bill that can impact retirement plan participants and sponsors. Required Minimum Distributions (RMDs): The CARES Act waives… Read More


What You Need to Know About the CARES Act

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


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


What The Families First Coronavirus Response Act Means For Your Business

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

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


How The Prosperity Consulting Group is Handling Coronavirus

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 ma

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


Impact of Coronavirus on Your Investment

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


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The Prosperity Consulting Group registered as a Registered Investment Advisor (RIA) in 2005. We have with a passion for providing clients with objective investment advice and wealth management solutions. Our purpose, coupled with our fiduciary commitment, is essential in helping clients achieve their financial goals. Our firm is dedicated to providing unparalleled financial planning and investment advice to individuals, families, businesses and institutions. We have identified key areas that are critical and integral to a client’s financial success. These planning areas encompass: Investment Planning & Management Retirement Planning Estate Planning Tax Planning Business Planning Insurance Planning Income Protection & Asset Preservation Education Planning 401(k) Planning
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