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  • Three Strategies Companies Can Implement to Recover Faster

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

    🖨 Print⏱ 4 min readSmall businesses nationwide were already facing cash problems before the COVID-19 pandemic, according to McKinsey & Company. The firm found that almost one-third of small businesses were either seeing losses or making just enough to stay in business, but not realizing profitability. Looking at businesses selling essential and non-essential items, McKinsey & Company reports that before satisfying their “interest, taxes, depreciation and amortization” obligations and accountings, they were facing challenging times. When it comes to selling essential items, such as food, business owners in this industry only had margins of 5 percent. For businesses selling non-essential... View Article

  • 3 State Level Tax Hikes That Might Be Coming Due to COVID-19

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

    🖨 Print⏱ 3 min readNo surprise, but Americans are consuming and spending less since the coronavirus kicked in.  Retail sales dropped to 8.7 percent in March, the largest month-over-month decline since the Census Bureau started tracking this data. Previously, the sharpest decline was less than half this – at 3.9 percent from October 2008 to November 2008, during the previous economic crisis. The reduction in consumer spending is due in part to lockdowns, spending more time at home for fear of the virus, and the economic impact – whether it’s losing a job, reduced hours, or in anticipation of tougher... View Article

  • Five Ways to Manage Back-to-School Stress

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

    🖨 Print⏱ 4 min readIf you’re anxious about sending your children back to school, you’re not alone. In fact, a recent poll from ABC News/Ipsos showed that 45 percent of parents don’t want their kids in the classroom at all. But whether your kids are in school or learning at home, there’s still plenty of worry to go around. How do you cope? Here are a few suggestions from a variety of counselors and mental health professionals that can help. Express Your Feelings Noticing the anxiety that’s going on inside is half the battle – then let it out. “I... View Article

  • Tips for Retiring in the Next 10 Years

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

    🖨 Print⏱ 4 min readThe stock market continues to perform with relative resilience, despite the current economic decline. But to be clear, without 100 percent participation in the economy – in terms of small business job creation, consumer spending, and company growth and expansion – the stock market is apt to reposition prices to reflect slower growth. With no containment or control of the pandemic on the horizon, there is plenty of uncertainty associated with future financial planning. Anyone looking to retire in the next 10 years or so may want to take a fresh look at their current retirement... View Article

  • Laws to Enhance Benefits for Service Members, First Responders, Veterans and to Restore National Parks and Public Lands

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

    🖨 Print⏱ 4 min readA bill to amend the Servicemembers Civil Relief Act to extend lease protections for servicemembers under stop movement orders in response to a local, national, or global emergency, and for other purposes (S 3637) – This bill extends the Servicemembers Civil Relief Act to protect service members who were previously issued orders to change duty stations but had those orders rescinded because of the pandemic. A stop movement order may leave them with a housing and/or car lease in two different locations. This extension allows families who are unable to relocate due to pandemic-related travel restrictions... View Article

  • Robotics Carves Out Niche in Various Businesses

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

    🖨 Print⏱ 4 min readAway from the movies, robots are becoming a reality in everyday life. Robots have played a major role in manufacturing industries to perform basic tasks that are either dangerous or laborious for humans. As technology becomes relatively cheaper – through the availability of components such as processors, sensors, batteries, and cameras – robots are now making an entrance in industries apart from manufacturing, such as in marketing, inventory, telecommunications, and entertainment. Why Robotics in Business? To avoid confusion, it’s important to mention at this point that robotics often refers to software configured to carry out tasks... View Article

  • How to Develop an Employee Leave Policy During COVID-19

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

    🖨 Print⏱ 5 min readAccording to the United States Department of Labor’s Wage and Hour Division, the Families First Coronavirus Response Act addresses how select businesses must give their workers paid sick leave or expanded family and medical leave under permitted circumstances in light of COVID-19. Effective starting April 1, 2020, the following will be in effect through Dec. 31, 2020. 1. If the worker cannot perform his duties because he is relegated to a quarantine, as mandated by a medical professional or a local, state or federal government, or if he is symptomatic with COVID-19 and seeking a diagnosis... View Article

  • R&D Tax Credits May be Part of the Next Tax Relief Bill

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

    🖨 Print⏱ 3 min readAs the economic impact of COVID-19 lingers and an impending second wave is on everyone’s mind, Congress is already thinking of new legislation to stimulate the economy. One of the ideas on the top of the list is an expansion of the Research and Development (R&D) tax credit as part of the next COVID-19 relief bill. Proposals for the R&D Tax Credit There are numerous proposals for changing the R&D tax credits. It is seen as an investment in the U.S. economy, with some believing the credit is an effective tool to combat offshoring. Some of... View Article

  • Help for People Struggling to Pay Bills

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

    🖨 Print⏱ 3 min readThe impact of COVID-19 has caused many Americans to suffer hardships, one of which is struggling to make ends meet. But take heart; there are solutions. Here are a few areas in which creditors are working with people to alleviate some of the stress. Mortgages Fortunately, the Coronavirus Aid, Relief, and Economic Security Act, allows for mortgage forbearance, which if you’re financially compromised because of COVID-19, you can temporarily suspend payments. Also, the Federal Housing Finance Agency is allowing mortgage servicers to permit homeowners to delay payments if the notes are backed federally or by a... View Article

  • Borrowing From Your Retirement Plan: New CARES Act Rules

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

    🖨 Print⏱ 4 min readIt’s been nearly half a year since Americans first became widely aware of the coronavirus contagion within the United States. While for a brief month it looked as if we had the virus in hand, since then it has spread wildly out of control in many areas. People who did not suffer dramatic financial consequences in the early stages of the pandemic could see some hard days ahead. For this reason, it’s a good idea to become familiar with the new relaxed rules associated with withdrawals from tax-advantaged retirement plans. In late March, Congress passed the... View Article

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