With increased spending, government officials will need to look for ways to increase revenue in order to compensate and makeup for budgetary shortfalls. Unfortunately, when it comes to government, “increasing revenue” is another way of saying “increasing taxes.”
The Internal Revenue Service (IRS) amended rules under the CARES Act to provide flexibility for health-care spending related to the COVID-19 pandemic in which families and individuals may need additional at-home services,
Financial advisors often get the bad reputation of disliking cash and being “all in.” The most recent “cash is trash” quote by a prominent investment manager is not helping our image either. However, we feel that holding an appropriate amount of cash in your portfolio can be the financial equivalent of taking a deep breath to relax.
For those seeking access to their retirement funds, the CARES Act includes provisions for coronavirus-related distributions and loans. For those seeking to preserve their retirement funds, certain RMDs have been suspended.
On March 27, 2020 President Trump signed the Coronavirus Aide, Relief, and Economic Security Act (CARES Act) into law. The CARES Act has numerous provisions, including some that may directly impact you.