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  • How To Use Qualified Charitable Distributions For Charitable Giving

    Posted Date July 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readEach year, millions of Americans make donations to charitable organizations and receive something in return – a tax break. However, the 2017 Tax Cuts and Jobs Act curbed this tax advantage because it reduced the number of people eligible to claim a charitable deduction by raising the standard deduction. For 2020, the standard deduction is $12,400 for individuals and $24,800 for married couples filing jointly. If your list of deductions is not greater than those amounts, there is no tax benefit to itemizing – which means you might not be able to claim your charitable donation.... View Article

  • How Businesses Can Help Protect Themselves Against Civil Unrest

    Posted Date July 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readIf the COVID-19 pandemic isn’t a big enough strain on businesses trying to engage in commerce, whether it’s retailers, restaurants, manufacturers, or those in the service sector, civil unrest puts another strain on surviving the downturn. Based on recommendations from the U.S. Department of Homeland Security and the U.S. Small Business Administration, businesses can prepare for civil unrest. While the British firm Verisk Maplecroft predicts that 75 countries will see civil unrest in 2020, the United States has already seen its fair share recently. While the future intensity of civil unrest can’t be predicted, businesses can... View Article

  • Helping Small Business Owners, Seniors and U.S. Hostages, and Limiting Intrusive Domestic Surveillance

    Posted Date July 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readPaycheck Protection Program Flexibility Act of 2020 (HR 7010) – Rep. Dean Phillips (D-MN) introduced this legislation on May 26. This Act modifies provisions related to small business loans issued under the original Paycheck Protection Program. Specifically, the bill permits forgiveness of loans used to pay expenses incurred over a 24-week period, longer than the original eight-week limit, and extends the timeframe to pay off unforgiven loans from two to five years. This bill also increases the limit on non-payroll expenses up to 40 percent when used to pay for rent, utilities, mortgage interest, and similar... View Article

  • Fileless Malware Poses New Threat to Computer Users

    Posted Date July 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readWith increased cyber threats, there is great awareness of malware that comes attached in files.  Individuals and businesses invest in security solutions to protect against malware. In fact, there are often company policies regarding opening attachments on emails; yet there is an increase in a type of threat (though not new), known as the fileless malware. What is Fileless Malware? A fileless malware attack is a type of threat that doesn’t involve executable files. Instead, these attacks include scripts that run on browsers, command prompts, Windows PowerShell, Windows Management Instrumentation, VBScripts, or Linux (Python, PERL). In... View Article

  • Hiring in the Age of Coronavirus

    Posted Date July 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readThe U.S. job market gained 2.5 million jobs during the month of May, dropping the unemployment rate to 13.3 percent, according to the U.S. Bureau of Labor Statistics. There’s likely been a lot of rehiring, with more to come as the economy continues reopening. However, until social distancing becomes a thing of the past, hiring effectively will take some pivoting during the pandemic. Finding Candidates Virtually Employers looking to interview and hire candidates can take advantage of LinkedIn during the pandemic. Along with providing a branding opportunity, the platform gives businesses a hybrid social media and... View Article

  • HEROES ACT Can Combat Economic Downtown

    Posted Date July 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readThe HEROES Act, otherwise known as the Health and Economic Recovery Omnibus Emergency Solutions Act, can greatly improve the benefits for the earned income tax credit (EITC) for eligible workers who don’t have children. This legislation would also help wage earners in the business-to-consumer and leisure sectors of the economy impacted severely by the coronavirus pandemic. Looking at the HEROES Act legislation and how it would help childless wage earners, we need to examine the rules surrounding the EITC and how many additional filers may qualify. While childless students pursuing formal education are still required to... View Article

  • Why Sequence of Returns Risk Matters Now

    Posted Date June 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readThat year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst times for a sustained market decline. Market analysts call this scenario the sequence of returns (SOR) risk – because once your principal has been significantly reduced, there’s not enough time in the market left for you to recover those losses. Two things will likely happen. First, the amount of retirement income you can withdraw each year is irrevocably reduced. For example, if you were planning to withdraw 4 percent a year... View Article

  • Payroll Protection Program Loan Forgiveness is Here

    Posted Date June 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 2 min read The first Payroll Protection Program (PPP) loans were made over eight weeks ago, which means they may be forgivable if the guidelines set forth by the Small Business Administration (SBA) and the United States Treasury Department are met. In order to have a loan forgiven, borrowers need to complete the 11-page application made available by the Treasury Department. Applicants can complete the forms either in hard copy or via an online platform if provided by their lender. Large borrowers, or those who took out more than $2 million from the PPP program, are required to... View Article

  • In the Wake of the Coronavirus Pandemic, Congress Passes the Most Expensive Single Spending Bill in American History

    Posted Date June 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 3 min readPaycheck Protection Program and Health Care Enhancement Act (HR 266) – This is a multilayered legislative bill divided into four distinct sections. Phase 1 authorized funding for coronavirus preparedness and response; specifically, for measures such as vaccine development and public health funding. Most of the money was allocated to the Department of Health and Human Services. Approximately 81 percent of funds were allocated domestically, with the other 19 percent allocated internationally. Phase 2 allocated $104 billion for three specific objectives: 1) Require private health insurance plans and Medicare to cover COVID-19 testing; 2) Expand unemployment insurance... View Article

  • How IT Spending Will Change When Business Resumes

    Posted Date June 1, 2020 Posted Time 12:00 am Published in

    🖨 Print⏱ 4 min readMost states are starting to relax stay-at-home restrictions. As such, businesses are developing plans for bringing employees back to work. Many businesses are already affected by the pandemic and their future looks grim. Specifically, we are going to look at the IT sector and examine what spending might look like in a post-lockdown economy. Disruption The COVID-19 pandemic has resulted in an unprecedented disruption in businesses. As a result, management has tried to reduce costs to survive or risk shutting down. IT departments have suffered the most with major budget cuts due to a reduction in... View Article

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