As we quickly approach the fourth quarter, year-end tax planning and charitable giving are often discussed with our clients. The CARES Act has expanded charitable giving opportunities for this year. For instance, a new "above the line" charitable deduction is available this year (up to $300 for single, $600 for married filers) even to those who claim the standard deduction. This article by Schwab... READ MORE

On March 27th, the “Coronavirus Aid, Relief, and Economic Security Act,” also known as the “CARES Act,” was signed into law. This is a $2 trillion emergency fiscal stimulus package intended to limit the economic damage created by the Coronavirus. The CARES Act includes various types of aid for both individuals and small businesses. The following is a summary of the key provisions. Income... READ MORE

In the coming weeks, we will be sending out our thoughts on the CARES Act. In the meantime, the following video is a quick overview: Additionally, here's a simple breakdown: $510  billion - Loans to distressed businesses, cities and states. $29 billion for airlines $17 billion for firms deemed important for national security $454 billion as backstop for loans to other businesses, cities and... READ MORE