Category Archives: COVID-19

WHAT PRESIDENT TRUMP’S EXECUTIVE ORDER MEANS FOR YOU

We are still waiting for the dust to settle on what President Trump’s executive orders mean for taxpayers and business owners. There is a lot of talk about legal challenges and how Congress may react. But here is a summary of what we know now.Temporary Payroll Tax Relief –The President has directed the Treasury Department to…
Read more

RUNNING LOW ON MONEY? CONGRESS HAS MADE IT EASIER FOR YOU TO TAP YOUR RETIREMENT SAVINGS

Article Highlights COVID-19 Tax Benefits Retirement Plan Withdrawals Waiver of 10% Early Withdrawal Penalty Retirement Plan Loans Roth IRAs Other Sources of Income Way to Reduce Payments  If you are struggling financially due to the COVID-19 epidemic, you will be happy to know Congress, as part of the CARES Act enacted on March 27, has made it easier for you to access your…
Read more

Need Cash? Try to Avoid Retirement Accounts

Article Highlights: Early-Withdrawal Penalties Reduction in Retirement Savings Exceptions from the Early-Withdrawal Penalty  If you find yourself looking for a quick source of cash, your retirement savings may look like a tempting option. However, if you are under age 59½ and withdraw money from a traditional IRA or qualified retirement account, you will likely pay both income…
Read more