Behaviors have changed during the Coronavirus outbreak. We list five of these that could end up being positives for small businesses moving forward.
Coronavirus related posts
In the Marietta Daily Journal, Bil Lako, CFP®, explains the IRS’ latest move to help investors repay their unwanted 2020 RMDs.
Due to COVID-19, the IRS extended the tax filing deadline to July 15th—but that tax deadline applies to other items!
The desire to become a more disciplined investor is often tested by the arrival of your account statements.
The IRS issued Notice 2020-51 that clears up any misconceptions about your 2020 RMDs. If you took any RMD withdrawals prior to the suspension of RMDs, you can redeposit your withdrawal to your retirement account by Aug. 31, 2020.
In the Marietta Daily Journal, Bil Lako, CFP®, explains that the market has recovered a majority of what it lost, in March. Hopefully, you did not touch your 401(k) by cutting your contributions or moving your investments to cash equivalents during the trough.
While the CARES Act made it easier to access money in retirement plans, understanding these new guidelines and other rules for loans and early withdrawals may help you determine if this is an appropriate option during a financial crisis.