Are you currently using a retirement plan that’s helping you and your employees reach important retirement goals? Well, you should have one. And soon. (Read the article for full details.) Why the rush? Because if you act by December 31, you’ll be able to put a business retirement plan in place, or make the switch to an extremely useful Roth IRA (if your income is down … [Read more...]
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New Law Kneecaps Stretch IRA—Here’s What You Can Do About It
Do you have an IRA? Then I urge you to read the full article. Why? Because it explains how the SECURE act, enacted by Congress last December, severely and negatively impacted the Stretch IRA strategy. NOTE: The “SECURE” stands for, “Setting Every Community Up for Retirement Enhancement.” What exactly was the Stretch IRA? The Stretch IRA wasn’t another kind of IRA. It … [Read more...]
PPP Update: Two New Rules for Owners of S and C Corporations
Here’s good news for S and C corporation owner-employees. During the past month, the Small Business Administration (SBA) issued: A new set of frequently asked questions (FAQs)A new interim final rule concerning the Payroll Protection Program (PPP) Taken together, these rules provide S and C corporations with significant benefits. What are they? How can you take … [Read more...]
IRS lets Millions More Qualify for the $100,000 IRA “Grab and Repay”
Are you strapped for cash? Then here’s some good news. The IRS has recently issued new rules designed to help people financially impacted by the COVID-19 epidemic. Thanks to the new rules, millions of people who qualify can withdraw up to $100,000 from their IRAs without penalty! Yes, the money must be repaid, but you have three years to return it; again, without … [Read more...]
COVID-19: Two New Retirement Account Strategies You Need to Know Now
Good news! The new CARES Act made several retirement-account (RMD) tax-law changes that can save you a lot of money. To take advantage of these changes, there are two totally-legal, powerful strategies that you can put to use. What are they? We’ll give you all the money-saving details when you read the full article. IMPORTANT: Be aware that the new rules apply only … [Read more...]