Tax relief is now available for qualified retirees.There’s a tax holiday in the new stimulus bill, as Ashlea Ebeling reports for Forbes. What can businesses do when they have no customers? Last weekend, for the first time in roughly 100 years of motion picture history, box office revenue hit $0. Frank Holmes discusses the economic challenges the business community is facing and the innovations they’re developing. There’s help at hand, though, and your small business can get financial support now. Brian Thompson explains the provisions of the new CARES Act to keep small businesses going in this difficult time.
Congress Suspends Required Minimum Distributions For 401(k)s And IRAs For 2020, Opening Window To Tax Savings — The bipartisan COVID-19 stimulus bill just signed by President Trump includes welcome tax relief for retirees: The required minimum distribution rules for Individual Retirement Accounts and 401(k)s are waived for 2020. That means that instead of taking money out this year, retirees can keep their investments growing. The RMD waiver applies to 403(b) accounts, SEP IRAs, and SIMPLE IRAs. Read more…
America Will Come Out Of This Stronger Than Ever. It’s Done It Before — As some businesses temporarily close, Frank Holmes of US Global Investors says, “I … believe that the U.S. economy will come roaring back stronger than ever. Because if there’s one thing America and the free markets have shown, it’s that they’re resilient and adaptive to change. The same can be said about consumers.” Read more…
Getting Cash For Your Small Business Through The CARES Act — Tax attorney and Certified Financial Planner Brian Thompson explains the main two ways your business can get cash now that the CARES Act is law. He describes the steps you need to take to make sure you can get your money as efficiently as possible. Read more…
John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller
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