The end of the year is fast approaching (although some would say 2020 can’t finish fast enough!) But, there’s still time to make moves to improve your financial plan and tax situation before the calendar turns. We’ve got you covered with our 2020 year-end planning guide.
Despite a very challenging year, many businesses are realizing record profits. Implementing a Safe Harbor 401k/Profit Sharing Plan paired with a Defined Benefit Pension can give owners a tremendous tax deduction while rewarding employees.
A provision in the recently passed CARES Act allows those affected by COVID-19 to withdraw up to $100,000 penalty-free from their 401(k) or IRA. We address the considerations for anyone that may need access to their retirement plan assets.
On March 27, 2020, the U.S. House of Representatives passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) that was passed in the U.S. Senate on March 25, 2020. The President signed the bill into law on March 27, 2020. This brief is a summary of provisions contained in the CARES Act that impact retirement plans and IRAs.
The worldwide coronavirus outbreak has caused a very sharp downturn in the economy and world equity markets. While no two downturns have been exactly alike, we offer some context and how it relates to your investment plan.
In an era of extreme political division, it would have been easy to miss the bipartisan legislation recently enacted by Congress. On December 20th, and without much fanfare, President Trump signed into law the SECURE ACT, which is an acronym for “Setting Every Community Up for Retirement Enhancement.” Here are the main provisions and what this could mean for you: