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  • Latest Stimulus Bill Provides More Relief for Americans and the Economy

    Posted Date March 10, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readNearly one year after the COIVD-19 pandemic-driven shut-downs began the shutter the economy, Democrats pushed through another $1.9 trillion stimulus package by narrow margins, with the President set to sign the bill. The legislation is one of President Biden’s first major achievements and contains numerous provisions that impact millions of Americans. Below we’ll look at what’s inside the legislation. Stimulus Checks $1,400 stimulus checks are the hallmark of the legislation, but not everyone is eligible. Similar to previous stimulus packages, single taxpayers making $75,000 or less are eligible for the full amount, but the payout completely... View Article

  • Some Businesses Rely on Line of Credit to Escape Damages Caused by Pandemic

    Posted Date March 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readAs businesses attempt to work their way through to a post-pandemic world, there are various means to bridge the financial gap. As recommended by the U.S. Small Business Administration (SBA), some companies can use a line of credit to reach international customers or opportunities outside the United States to make up for the damage COVID-19 caused with fewer domestic sales. How can businesses use a line of credit to increase their chance of survival and pivot to profitability as we move through 2021? According to Debt.org, a business line of credit functions like any other line... View Article

  • Four Essential Questions You Should Ask Your Tax Professional This Season Related to COVID-19

    Posted Date March 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readGood tax professionals ask the right questions to ensure they understand your situation and can help you to the best extent the law allows. Given the host of pandemic-related tax changes for 2020, it’s good to keep these four questions below in mind. If your tax preparer doesn’t ask these questions in your tax organizer or during a meeting, raise them yourself. 1. Did you receive your stimulus payment? Not everyone received all the stimulus they were entitled to. As a result, the amount of your stimulus payments needs to be reconciled on your 2020 tax... View Article

  • 5 Cities Rank as Ideal Locations for Remote Workers

    Posted Date March 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readAccording to the National Bureau of Economic Research, in late spring of 2020 about half of American workers were working from home. Not surprisingly, many researchers believe that this pattern will continue after the pandemic is over. With this in mind, SmartAsset has examined the best cities to work from home in 2021 and evaluated them across seven metrics: percentage of those who worked at home; estimated percentage of those who can work at home; five-year change of percentage of those who worked at home; October 2020 unemployment rate; poverty rate; housing costs as a percentage... View Article

  • The Impact of COVID on Life Insurance

    Posted Date March 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readIf someone you know died from COVID-19 and had an existing life insurance policy, there should be no problem receiving the death benefit. The terms of a life insurance contract cannot be changed after purchase, so anyone with a policy before the pandemic will continue to be covered as long as premiums are paid. However, the life insurance industry is in a quandary right now when it comes to new applicants applying for policies. Some insurers have placed an age limit on applicants to whom they will sell policies. Travelers who have recently visited countries with... View Article

  • Securing Jobs for Cabinet and Congress Members, Inspector Generals, and Apprentices – and Honoring Capitol Police Officer Eugene Goodman

    Posted Date March 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readTo provide for an exception to a limitation against appointment of persons as Secretary of Defense within seven years of relief from active duty as a regular commissioned officer of the Armed Forces (HR 35) – Prior to passage of this bill, a former service member could not be appointed as Secretary of Defense until separation from active duty for at least seven years. This legislation allows someone to be appointed after only four years from active duty as a commissioned officer of a regular component of the Armed Forces. The bill was introduced by Rep.... View Article

  • How AI Chatbots are Transforming Businesses

    Posted Date March 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readWhen a business moves its services online, it runs the risk of losing the close connection it had with customers. This affects customer loyalty and sometimes means lost revenue. Thanks to technology, some businesses have deployed artificial intelligence (AI) chatbots to keep customers engaged in a two-way conversation.  What is an AI Chatbot? An AI chatbot is a piece of software powered by artificial intelligence that is placed on websites and other applications to interact with humans. Chatbots are not a new technology, and it’s worth noting that there is a difference between AI chatbots and... View Article

  • How Firms Can Restore Balance Sheets to Better Health

    Posted Date February 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readAccording to the World Bank Group, for businesses in emerging markets and developing economies, the bottom fourth percentile of the non-financial corporate (NFC) sector saw their balance sheets deteriorate. Looking at these businesses’ Interest Coverage Ratio, the average figure dropped to 0.06 from 0.35 between the fourth quarter of 2019 and in the midst of the coronavirus pandemic’s ongoing effects. The ICR is a measure of a firm’s ability to repay their debt in accordance to existing obligations, whereby a higher ratio indicates a better ability to do so. This is calculated by dividing earnings before... View Article

  • New Year-End Tax Provisions

    Posted Date February 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 5 min readIn late December, Congress passed the Consolidated Appropriations Act, which in addition to providing COVID-19 relief provisions also included many tax provisions and extenders. The Act contained many COVID-related tax provisions, as well as a slew of extenders ranging from one year to permanent. This article will focus on the miscellaneous tax and disaster relief provisions, which are more applicable to most taxpayers. Miscellaneous Provisions Charitable Contributions – For tax years 2020-2022, starting in 2020 non-itemizers can deduct $300 in charitable contributions, and starting in 2021 non-itemizer can deduct $600 for married couples filing jointly. Full Business Meals... View Article

  • How to Budget During a Pandemic

    Posted Date February 1, 2021 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readRight now with everything that’s going on, navigating your finances might feel overwhelming. However, there are some strategies that will help you manage cash shortfalls. Mariel Beasley of Duke University’s Common Cents Lab offers ways to help you manage during these trying times. Use Mental Accounting Translated, this means prioritizing what’s most important and cutting back in those areas that aren’t. While pretty obvious, the finer point according to Beasley is this approach will help you stick to your spending plan by reminding you of your opportunity costs — i.e. what trade-offs you might be making... View Article

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