Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any event, parents may be eligible for certain tax breaks to help defray the cost of education. Here is a summary of some of the tax breaks available [...]
The technology industry is proving out its resilience. As every industry responds to change and disruption, tech companies are being relied upon more than ever to accommodate remote work, food and supply access, health services, communication, connectivity and entertainment. Innovation remains imperative. While it’s difficult to predict the near-term [...]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020, waived required minimum distributions (RMDs) from tax-qualified defined contribution retirement plans (such as 401(k) and 403(b) plans) and individual retirement accounts (IRAs) that were otherwise due in 2020 to help Americans cope with the uncertainty [...]
It’s August, and that means it’s time to get ready to go back to school for many students. If your child recently graduated from high school and is heading to college in the next few weeks, besides assembling the essentials — such as clothing, toiletries, bedding and a laptop [...]
COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for online learning, and some parents will be facing tuition bills. If your child has been awarded a scholarship, that’s cause for celebration! But be aware [...]
The U.S. Senate voted last night to pass the 5-week extension for the Paycheck Protection Program. The President is expected to sign the extension shortly. This measure will extend the application deadline until August 8th. The SBA had stopped accepting applications as of midnight June 30th. The move will [...]
Background On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act provides opportunities for certain businesses to receive emergency grants and loans to pay qualifying expenses. Grants [...]
As you may have heard, the Coronavirus Aid, Relief and Economic Security (CARES) Act allows “qualified” people to take certain “coronavirus-related distributions” from their retirement plans without paying tax. So how do you qualify? In other words, what’s a coronavirus-related distribution? Early distribution basics In general, if you withdraw [...]
Yesterday evening the Senate voted to pass the Paycheck Program Flexibility Act of 2020, which will ease some of the restrictions surrounding the PPP loans to small business owners. This legislation is intended to assist small businesses throughout the country, who are currently struggling to bring back their workforce in a timely fashion and [...]
Yesterday evening the House voted to pass the bill (Paycheck Flexibility Act), which would ease some of the restrictions surrounding the PPP loans to small business owners. The potential legislation in its current state would be dramatic for small businesses throughout the country currently struggling to bring back their workforce timely and maximize their [...]
