These direct payments are intended to provide direct assistance to American taxpayers who have lost wages, jobs or opportunities because of COVID-19. But there is some fine print.
Ask the average business owner if they have a tax shelter and they’d probably have a chuckle while wistfully thinking about how nice it would be to swim in crystal clear waters while their offshore bank accounts grew, unencumbered by state and federal taxes.
From Roth conversions to QHFDs: The coronavirus pandemic is forcing difficult questions, and clients rightfully are looking for answers that advisors are uniquely suited to provide.
The measure contains tax relief for both businesses and individuals, and other stimulus measures.
Republican staff on the Senate Finance Committee have released a set of answers to frequently asked questions about the stimulus payments.
Can a home equity line of credit offer clients a bridge loan for troubled times? Says one, “I’m going to call those people and rehire them.”
The passage extends the IRA contribution deadline and waives RMDs for 2020. Here’s what else financial advisors need to know.
The Senate voted 96-0 late Wednesday to approve a sweeping $2.2 trillion stimulus package to help the nation emerge from the coronavirus pandemic.
Large retailers like Walmart Inc. and Target Corp., as well as student loan borrowers, are on a long list of potential winners from tax breaks included in a $2 trillion coronavirus relief bill approved by the Senate.
Days of negotiations between the Trump administration and Congress — and fierce lobbying by industries eager for assistance dealing with the coronavirus outbreak — has yielded a rescue package worth more than $2 trillion in spending and tax breaks.