IRA Account Value down? It Might be a Good Time for a Roth Conversion
The coronavirus (COVID-19) pandemic has caused the value of some retirement accounts to decrease because of the stock market downturn. But if you have a traditional IRA, this downturn may provide a valuable opportunity: It may allow you to convert your traditional IRA to a…
Congress Expands Small Business COVID-19 Relief
Congress and the Trump administration have struck a deal on another piece of legislation, the latest in a series of federal measures intended to provide relief in response to the novel coronavirus (COVID-19) pandemic. The $484 billion legislation, which is being referred to as the…
Answers to questions you may have about Economic Impact Payments
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some answers to…
COVID-19: IRS Announces More Relief and Details
In the midst of the coronavirus (COVID-19) pandemic, Americans are focusing on their health and financial well-being. To help with the impact facing many people, the government has provided a range of relief. Here are some new announcements made by the IRS. More deadlines extended…
100% Bonus Depreciation of Qualified Improvement Property Under CARES Act
Under Section 2307 of the CARES (Coronavirus Aid, Relief, and Economic Security) Act signed into law on March 27th, 2020, there is a significant change regarding Qualified Improvement Property (QIP). Any 39-year real property that qualifies as QIP is now assigned a 15-year recovery period…