Financial Services Articles
August 2020 Market and Economy Update
Posted by David Schlein on August 28, 2020
This August video provides an update and recounts the top events that have affected the market and economy in the last several weeks.
How to Avoid Penalties on Early Retirement Account Withdrawals
Posted by D’Marie Murray on August 10, 2020
The COVID-19 pandemic has resulted in many people borrowing from their companies' qualified retirement plans. If economic fallout from the pandemic causes you to default on one of these loans, it will cause negative tax and retirement-saving consequences.
Collect Art? Make Sure Your Estate Plan Addresses It
Posted by Robert Ingrasci on July 16, 2020
For art collectors, it's critical that their estate plans address their collections separately from other types of assets. That's because there are special appraisal and documentation rules for art. Collectors also need to decide whether they want to sell, bequest or donate their collection. Donating can be an effective way to reduce capital gains and estate taxes.
IRS Issues Guidance on COVID-19 Distributions from Retirement Plans
Posted by D’Marie Murray on July 16, 2020
The IRS recently issued guidance related to coronavirus-related distributions allowed under the CARES Act. The guidance applies to qualified individuals, employers, and eligible retirement plans. It explains who qualifies to take an eligible distribution. It also includes relief to anyone who already took a required minimum distribution in 2020 from certain retirement accounts.
July 2020 Market and Economy Update
Posted by David Schlein on July 06, 2020
This July video provides an update and recounts the top events that have affected the market and economy in the last several weeks.
College Costs: How to Maximize Your Return on Investment
Posted by Jeffrey Budzinski on May 27, 2020
Many families view college as an investment in their children's futures, but the novel coronavirus (COVID-19) pandemic is causing families to reevaluate their options — and, in some cases, make major, life-altering changes. Here's an overview of how much it currently costs to pursue an undergraduate degree and strategies to consider to cut higher education costs during these uncertain times.
Business Continuity Plans
Posted by Jeffrey Budzinski on April 22, 2020
As a business owner, you’ve worked hard for your success. The long hours, the difficult decisions, and the sacrifices you have made have led to where you are today. The last thing you want is to suffer a disruption to your business. However, in the event that you do experience an unavoidable mishap, it may be smart to have a Business Continuity Plan (BCP) in place.
Now May Be a Good Time for a Roth Conversion
Posted by D’Marie Murray on April 06, 2020
When life gives you lemons, make lemonade. The financial markets have plummeted over the last month. But there's an upside for long-term investors: Low market values may provide a tax-smart opportunity to convert your traditional IRA to a Roth IRA. This strategy is simple, but it's not right for everyone. Here are some factors to consider before you execute a Roth conversion in 2020.
March 2020 Market and Economy Update
Posted by David Schlein on March 13, 2020
This March video provides an update and recounts the top events that have affected the market and economy in the last several weeks.
Coronavirus Update: Stock Selloff might be Exaggerated; Economic Impact Still Unclear, Fear Remains
Posted by David Schlein on March 04, 2020
Concern remains elevated about the coronavirus behind an epidemic in China and other countries. On Friday, Feb. 28, the World Health Organization raised the global risk for the new virus from “high” to “very high,” and markets sent a clear message: investors fear the spillover effects of the coronavirus.