Are business owners surviving Covid-19?
64% of small business owners on Main Street are confident that they can survive for more than a year. https://a.msn.com/r/2/BB17PA7d?m=en-us&referrerID=InAppShare
Read articlePreparing your Finances
Create Your Personal Financial Inventory Your personal financial inventory is important, because it gives you a snapshot of the health of your bottom line. This annual self-check should include: A list of assets, including : your emergency fund retirement accounts other investment and savings accounts real estate equity education savings etc. (any valuable jewelry, such as…
Read articleSocial Security Solvency Update
Social Security’s Board of Trustees have released their annual budgetary status of the nation’s largest entitlement program. The challenges confronting the program are no mystery, with different variables undermining the long-term solvency of the trust fund. The key takeaway from this year’s report relating to the Old-Age and Survivors Protections (OASI) – which pays month to month retirement benefits to Americans – reads: “The OASI Trust Fund reserves are projected to become depleted in 2034, at which time OASI income would be sufficient to pay 76 percent of OASI scheduled benefits.” In other words, if…
Read articleMedicare and coronavirus
What Medicare covers Medicare beneficiaries may be wondering if Medicare will cover coronavirus. Here’s what we currently know about what it will cover: Medicare covers the lab tests for coronavirus. You pay no out-of-pocket costs when your doctor or other health care provider orders it. Medicare will pay lab technicians to travel to a beneficiary’s…
Read articleThe Cares Act Summarized: Information that you need NOW!
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide nearly $2 trillion of support to families and businesses during the COVID-19 pandemic. This was a massive bill with provisions that will affect nearly every part of the nation’s economy. As with any new tax law, it…
Read articleCoronavirus: The next chapter
Over the last month, we have experienced extreme market volatility due to the Coronavirus contagion. To date, there have been over 10,000 deaths globally. To that end, we have also seen Central Banks employ multiple strategies hoping to calm market volatility. We now feel that we are “near the bottom” regarding the “EXTREME” market swings.…
Read articleMD Sales and Use Tax Proposal
MD House Bill 1628 On February 20, 2020, the Maryland House of Delegates introduced proposed legislation (Maryland House Bill 1628 [the Bill]) that would greatly expand the types of services subject to state sales and use tax (the Tax). Under current law, amounts charged for services, including professional services, are generally exempt from the Tax,…
Read articleiPlan Q&A
Should I choose a shorter or longer mortgage term? If you can swing the payments comfortably, the shorter terms are definitely worthwhile. If you’re a disciplined saver, you may be able to do just as well with a thirty-year loan if you invest the monthly savings in stocks or mutual funds.
Read articleBenefits of Financial Planning
Benefits of Financial Planning Planning is an essential step in everything that you do in life, be it a long project or a small task. It is a vital part of your life especially when you want to allocate resources equitably in your company. Financial planning is often categorized in stages and branches, depending on…
Read article