Thanks to the CARES Act, your Economic Impact Payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child will be deposited directly into the same bank account used on your tax return within three weeks.
While uncertainty can make you nervous, it does not have to be a cause for alarm. Having a financial adviser on your side to help you navigate the unknown can help to ease your mind, allowing you to focus on running your business.
The CARES Act provides $349 billion for the new “Paycheck Protection Program” (PPP) and $10 billion for SBA to provide emergency EIDL grants until Dec. 31, 2020. These should be excellent resources for small companies whose business is struggling with social distancing.
Check out this guide prepared by the U.S. Chamber of Commerce to help small businesses and self-employed individuals prepare to file for a SBA Paycheck Protection Program Loan!
If you’re thinking about tapping into the value of your home, you should understand the two district types of home equity loans.
If you have already taken your 2020 RMD, and you don’t need the money, the CARES Act gives you some options.
In response to COVID-19, on March 20, 2020, the Department of Education announced terms for student loan relief for tens of millions of borrowers.