Our Writings

April 2020 Monthly Recap

The coronavirus has impacted all of our lives significantly and there are many programs that could directly impact your business and lives that require immediate action.  While we’ve reached out to the clients that we believe would be eligible for any of these programs it is vital for everyone to be updated. See important updates that Anne and Clint have shared regarding these programs and the markets below. Please contact us if you would like to discuss any of these items. 

Fiscal Stimulus

Two Lending/Grant Programs You Must Review Quickly

By Anne Zavaglia, CFP®

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).  Title I of the CARES Act creates a $349 billion Paycheck Protection Program (PPP) through the Small Business Administration (SBA) who will make or guarantee loans of up to $10 million to eligible entities.  Read More

Paid Leave & Tax Credits for Businesses

By Anne Zavaglia, CFP®

The Families First Coronavirus Response Act was signed into law by President Trump on March 18, 2020.  The Act provides relief to employees, as well as small and midsize businesses, that have been affected by the Coronavirus. Employers can take advantage of two refundable payroll tax credits to reimburse them, dollar for dollar, the cost of providing Coronavirus-related leave to their employees.  Read More 

CARES Act – Impact on IRAs and Retirement Plans

By Anne Zavaglia, CFP®

The CARES Act is designed to provide support to provide emergency assistance and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic.  The CARES Act will have a direct impact on IRA account owners and participants in workplace retirement plans.  Read More

Monetary Stimulus

Covid-19’s Impact on Main Street & Wall Street

By Clint Edgington, CFA

Covid-19’s impact on the financial markets and the real economy has been severe and historically fast. In sixteen days, we had the fastest bear market in financial markets in modern history.  True to past history when stocks drop quickly, bonds maintained their value relative to stocks.  Foreign stocks performed relatively in line with U.S. stocks, also not a surprise since this is a global issue. Smaller companies underperformed significantly.  Read More

Pandemic + Massive Stimulus = Big Impact

By Clint Edgington, CFA

The suddenness in the mandated halt in the economy due to the Covid-19 pandemic is unprecedented.  Alarmed at the outlook of a crashing economy, the government has pulled out all the stops.  This is a firehose response that makes the stimulus of 2008 and 2009 look like a squirt gun!  Read More

Tax Filing Deadline Extended to July 15

The Treasury Department and Internal Revenue Service announced March 21, that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Along with that, the deadline for making 2019 IRA Contributions is also extended to July 15.

Taxpayers can defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.  Read more

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