On Thursday, March 11, President Biden signed the American Rescue Plan Act into law. The new stimulus will inject our economy with $1.9 trillion to help families, individuals, and businesses that continue to be impacted by the COVID-19 pandemic. The American Rescue Plan includes funding for the popular Paycheck Protection Program, direct stimulus payments, unemployment benefits, and more. Paycheck Protection… Read More
Posts Tagged ‘ covid-19 ’
What You Need to Know About the New Stimulus Act
On Sunday, December 27th, the second COVID-relief stimulus was signed into law. The $900 billion legislation aims to help Americans who have been negatively impacted by the COVID-19 pandemic, provide aid to struggling businesses, and support vaccine distribution efforts. Here are the major elements in the new act. Paycheck Protection Program The new stimulus adds $285 billion to the popular… Read More
Things to Consider Before Taking a 401(k) Distribution Due to COVID-19
The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law on March 27, 2020, eases restrictions for retirement plan participants impacted by coronavirus to access their 401(k) and IRA funds (up to $100,000). Eased restrictions Before the CARES act, if a participant under 59½ wanted to tap into their 401(k), they were subject to a 10% early withdrawal… Read More
New PPP Loan Rules Released
On August 24th, the SBA issued new guidance on the Paycheck Protection Program regarding owner-employee compensation and nonpayroll cost eligibility. Related Party Rent Limitation Per the PPP rules, borrowers must spend 60% of their forgiveness amount on payroll and 40% on other qualified expenses, such as rent. While these percentages haven’t changed, the new guidance aims to equalize the treatment… Read More
It’s Not Too Late to Reverse Your 2020 RMD
Earlier this year, the CARES Act injected our economy with over two trillion dollars to provide COVID-19 relief for business owners, individuals, and retirees. The CARES Act waived Required Minimum Distributions (RMDs) that were scheduled to be paid in 2020. If you have already taken your RMD, you have the ability to roll the money back into your retirement plan. … Read More
Six Ways to Regain Financial Balance
There has been a lot of talk about balance over the years. Is it truly attainable or simply a myth? The COVID-19 pandemic and restrictions which were placed upon us, forced us to slow down and assess how we have been living our lives. Do we want to resume our busy lives and overly scheduled calendars, or do we want… Read More
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
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