The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.
The IRS just increased the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan accounts for 2020. Here’s a quick look at the changes.
The holidays are the perfect time to express our thanks for your business and to think about those less fortunate. Please join us for our 11th Annual Holiday Open House and Toys for Tots Collection on Thursday, December 12, 2019, 11:30 am – 1:30 pm at our office – 5901-B Peachtree Dunwoody Road, Suite 275, Atlanta, GA 30328. Lunch will be served.
No matter where you turn these days, news broadcasters, financial pundits and market watchers are talking about the Federal Reserve and what they will do with interest rates. Will they continue to increase rates or become more accommodative and slow down their increases? Since the 2008 financial crisis, the Fed has raised rates eight times (once in 2015, once in 2016, three times in 2017 and, so far, three times in 2018). What will happen next?
As we “go to press” with this newsletter, the midterm elections haven’t been held, and no one knows for sure what the outcome will be. The pundits put the chance of the Republicans keeping the Senate at about 71% and the chance of the Democrats taking the House at a slightly lower percentage, but still likely. Of course, there are many recent examples where these kinds of predictions not only missed the mark, but missed spectacularly.
“…Few can claim the ability to reliably predict elections – look no further than the Brexit vote and the 2016 US presidential election…,” Mike Ryan, Chief Investment Officer for the Americas, UBS Global Wealth Management pointed out. In fact, some pundits projected a 5% to 20% decline in U.S. markets if Trump was elected. As we know, predictions grabbed headlines, but those declines didn’t materialize.
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