Ideas & Insight

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 money from an IRA or eligible […]

Traditionally, spring and summer are popular times for selling a home. Unfortunately, the COVID-19 crisis has resulted in a slowdown in sales. The National Association of Realtors (NAR) reports that existing home sales in April decreased year-over-year, 17.2% from a year ago. One bit of good news is that home prices are up. The median […]

If you’re age 65 and older, and you have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially if you’re married and both you and your spouse are paying them. But there may be a silver lining: You may qualify […]

It’s often difficult for married couples to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly parents. In general, an IRA contribution is allowed only if a taxpayer has compensation. However, an exception involves a “spousal” […]

Just about every business owner’s strategic plans for 2020 look far different now than they did heading into the year. The COVID-19 pandemic has created a changed economy in profound ways, forcing many companies to recalibrate suddenly and severely. As your business moves forward in this uncertain environment, it’s important to re-evaluate competitiveness. You may […]

As you may recall, the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) back in April to help companies reeling from the economic impact of the COVID-19 pandemic. Created under a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act, the PPP is available to U.S. businesses with fewer than 500 […]

For business owners, building a succession plan is ideally a long-term project. You want to begin laying out a smooth ownership transition, and perhaps grooming a successor, years in advance. And you shouldn’t officially hand over the reins until many minute details have been checked and rechecked. But it doesn’t always work out this way. As […]

Staffing up to reopen a business can be an expensive and risky undertaking. As more state and local governments ease the restrictions related to the novel coronavirus (COVID-19) pandemic, reopening has happened and is becoming an option for more and more business owners. If you haven’t already reopened, you probably will be able to soon. […]

Although the novel coronavirus (COVID-19) pandemic has walloped most U.S. businesses, how your business recovers will largely be construction-industry-specific. For example, most construction companies need to address disruptions to project schedules and overseas supply chains. They may need to renegotiate building contracts and find replacements for workers who are no longer available due to travel […]

According to a recent survey by CNBC, 22% of U.S. businesses have been forced to lay off workers or employee furloughs as a result of the novel coronavirus (COVID-19) crisis. Although most employers regard these actions as a last resort, it’s important to know your responsibilities, particularly if you furlough workers. Following are the answers […]