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When preparing a financial plan for any client, one of our primary goals is to have enough income sources, even if there is a periodic disruption in the investment portfolio. Some fortunate clients have a pension, social security, annuities, bond interest, and/or dividends that will cover their needs.

It has been comforting to me, and I think to our clients, that during the Coronavirus crisis the Retirement and Financial Plans we worked on in prior months and years showed what their real financial position is instead of focusing on only short-term market moves. However, even well-conceived plans encounter challenges when circumstances change in an unexpected way.

IRA Distributions Done for Tax Year 2020 May Be Deposited Back By August 31, 2020.

We are happy to report that the IRS has announced rollover relief for required minimum distributions from retirement accounts that were taken for tax year 2020.  This clarifies and updates the prior guidance that had been offered under Tags:

• IRA
• tax planning
• taxes

By now, there’s a good chance that the recent market downturn resulting from the COVID-19 pandemic has left you questioning your investment strategy. But now that the sudden onset of this downturn has passed, it’s time to thoughtfully reevaluate your investing plans in the wake of COVID-19.

Here’s what you need to know.

In the third quarter of 2019, more than 2,400 small businesses were sold. The median sale price was roughly $278,000, up 3.3% from 2018.1

As a business owner, ascertaining the value of your business is essential for a variety of reasons, including business succession, estate tax estimates, or qualifying for a loan.

What it is, and why it's important.

Did you know that May is Disability Insurance Awareness Month? First started in 2007, the month of May was the first time that information about disability insurance became more easily accessible to millions of Americans. Recently, Disability Insurance Awareness Month has become a time in which many insurance professionals come together in order to help educate the public on the importance of disability insurance.1

Is it right for you? 

The COVID-19 pandemic has shaken up nearly every aspect of American life. To say it’s been a difficult time would be an understatement. 

However, difficult times may open doors to new possibilities. Businesses are changing their ways of operating, and individuals are exploring new avenues for investment. It may be time for you to consider some opportunities, as well.

In this Q1 recap: COVID-19 hits the United States, followed by heavy economic volatility, government stimulus, and an as-yet untold human cost.

Distributions can be waived in 2020 for Inherited Accounts, 401(k)s, and IRAs.

Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.1

To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.1