Blog


  • HEROES ACT Can Combat Economic Downtown

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

    The 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 be 25 for EITC... View Article

  • Hiring in the Age of Coronavirus

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

    The 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 marketing tool. Leveraging 1st... View Article

  • How Likely Would a Second Coronavirus Wave Negatively Impact the Stock Market?

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

    As Johns Hopkins University of Medicine’s Coronavirus Resource Center revealed a recent increase of coronavirus cases in the Southern and Southwestern United States, the VIX ticked up. With fears of the outbreak curve not flattening, how will this impact markets? The Volatility Index (VIX) was established by the Chicago Board Options Exchange in 1993 to gauge volatility in the financial markets. Referred to colloquially as the “fear index”, it measures the next 30 days of anticipated volatility for the U.S. Stock Market via S&P 500 options. For reference, during the peak of the 2008 financial crisis, it topped out at... View Article

  • How To Use Qualified Charitable Distributions For Charitable Giving

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

    Each 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. Without the ability to... View Article

  • Best Part-Time Jobs During Corona

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

    Even though unemployment is still relatively high, there are still some great part-time jobs you can do that will help cover basic expenses. Here’s a list of the industries that are hiring right now: Paid Survey Participant If you like to share your opinions (and who doesn’t), this job is perfect for you. Companies are always looking for consumer opinions on a variety of things such as products, services, etc. Best of all, it’s completely online, so you can work from anywhere. Here’s a list of companies that are looking for your feedback: Swagbucks, PrizeRebel, SurveyJunkie, SurveyPolice, Inbox Dollars, and... View Article

  • Fileless Malware Poses New Threat to Computer Users

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

    With 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 other words, fileless malware... 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 pm Published in

    Paycheck 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 fixed costs. Loan recipients... View Article

  • IRS Questions and Answers on COVID-19 IRA and 401(k) Loans & Distributions

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

    The CARES Act stimulus package substantially relaxed the rules around certain retirement account loan and distribution requirements, but with much confusion. As a result, the IRS recently put out a FAQ document to address the COVID-19 rule relaxation around IRA and 401(k) loans and distributions. This important information should come as welcome news for the nearly one percent of all retirement plan holders who have already taken a distribution under the new rules, according to Fidelity Investments. Who’s eligible? If you, a spouse or dependent tested positive for COVID-19, you automatically qualify. You also may qualify under less direct circumstances,... View Article

  • Understanding the Federal Government’s Proposal for Opening Up Again

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

    After seeing a peak and then a sustained decline in coronavirus cases, hospitalizations, and deaths resulting from COVID-19, the White House and the Centers for Disease Control and Prevention has rolled out a three-tier approach to get the nation back to its pre-coronavirus economic activities. While this program is led by the Federal Government, it is ultimately up to governors how they will reopen states and localities. However, there are some universal criteria that states must follow to gradually reopen the economy.    Before transitioning from the stay-at-home orders to the three phases, certain criteria must be met. In order... View Article

  • Are Dividends Becoming a Luxury During the Coronavirus Pandemic?

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

    According to the futures market, Chicago Mercantile Exchange contracts are forecasting a drop of 27 percent in dividends over 24 months for the S&P 500 index. Dividends are projected to fall to $42.05 in 2021, a drop from 2020’s dividend of $47.55 and 2019’s high of $58.24. Looking forward to 2026, according to CME’s futures contract, the dividend is expected to recover to $56.65. While the latter years are not as likely as what’s up next, it’s worth taking note. Although these dividend levels have already been announced, the future doesn’t look much brighter. According to Goldman Sachs, Q2 economic... View Article

 

Copyrights @ 2019. James O. Taylor