Category: Finance

Recognizing the negative economic impact of effectively shutting down a wide swath of industries across the United States to slow the spread of the coronavirus, on March 27, 2020, the Trump administration signed the most substantial stimulus bill in history. The Coronavirus Aid, Relief, and Economic Security (CARES) Act consists of a number of initiatives to help workers and businesses financially survive the rising number of shelter-in-place orders that are in effect. The $2.2 trillion government stimulus package includes payments to adults and their dependents on top of grants and loans available to businesses of all sizes. What the Stimulus Means for Workers In an effort to keep Americans afloat during the pandemic, the CARES Act offers several potential forms of relief. "There are several individual tax provisions included, such as the much talked about stimulus credit payments ($1200/$2400), in addition to a $300 charitable deduction, and relief from 401k withdrawal penalties," says Greg O'Brien, CPA, CTC, president of Greg O'Brien CPA PC. Americans who earned less than...

Keeping the fundraiser itself simple means more time to spend doing the most important work: approaching individuals, entrepreneurs and executives to ask for their support, namely charitable donations. The lower the level of difficulty and the less time the event takes, the better – especially when you're a busy businessperson yourself. Avoiding Legal Issues Before you begin asking strangers or friends for donations, make sure you're not unknowingly breaking any laws. Get in touch with your state department to ask about, for example, obtaining a permit to hold a raffle. Raffles are a form of lottery, which is banned in some areas. Contact the association for which you want to raise funds or visit its website. Typically, fundraising councils are happy to offer information and ideas. Some health organizations, such as the American Cancer Society, provide fundraising kits that include signage, pamphlets or printed balloons to help you raise awareness for their cause. After you have all your legal ducks in a row,...

A financial advisor takes a holistic look at your financial situation by assessing your income, assets — such as a home — and debt. The advisor will use that information to help you plan for your goals and select appropriate investments. Financial advisors may also help you navigate complex financial situations such as paying down debt, tax planning or ensuring you have the right insurance coverage to protect against financial risks. Many will coordinate with outside experts as needed, including insurance agents or tax specialists. In some cases, you can pick and choose which services you want or need based on the type of advisor you select. A financial advisor can be anything from a local, human advisor offering personalized, hands-on guidance to a so-called robo-advisor offering automated, computer-based investment management. That wide range includes online financial planning services, which marry the lower costs of a robo-advisor with the holistic guidance of a human advisor. Read More ...