Knowledge for the Journey
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The CARES Act provides a wide range of support to struggling small businesses. But which program is right for you? Here’s a guide to help navigate your options.
With so many feeling the effects of the COVID-19 quarantine, federal and state governments are moving to help. Here are a few of the notable tax deadline changes and stimulus efforts in the recent Coronavirus Aid, Relief, and Economic Security (CARES) Act. Tax deadlines, IRA & RMD changes, stimulus efforts, small business relief options and more.
Hello from the entire Alterra team! We’ll use this page to provide a few updates from us and resources we hope help you holistically while staying home!
Roth IRAs are one of the few ways to build tax-free retirement income. And with a long retirement time frame, they can build quite the snowball. But, if you make too much income, the IRS won’t let you contribute. Fortunately, for many, the Backdoor Roth IRA can help…so is it worth the extra effort?
When you think of charity, what comes to mind? Do you think of non-profits – organizations taking on major challenges and trying to make a difference? True! Many charitable contributions aim to give from your resources to fund groups who seek to meet the needs of others – and, as an incentive, you usually get a tax deduction for your contribution! But what if we simply define charity as giving to those in need? This opens a new world of philanthropy many find brings deep fulfillment and makes a difference. We call it Person-to-Person Charity.
When the market is up, terms like bull market and economic expansion pass by without concern. But when the market turns down, terms like correction, bear market and recession add confusion to uncertainty and increase anxiety. But, what do these terms actually mean?
In days, weeks and months of sharp declines, the first thought is often to sell stocks and “wait for things to stabilize”. Unfortunately, this usually means watching the market rebound and missing the upswing. Why do many advisors say you should ride it out? Because sharp market declines are usually followed by equally sharp recoveries.
News of the coronavirus is front and center in the headlines. Health organizations around the world are actively assessing the situation, learning about this new virus and attempting to build containment and treatment plans as they observe and respond to the spread and impact on those affected. Uncertainty about how the virus will impact business both in the US and around the world has also catalyzed a decline in financial markets since hitting all time highs in mid-February. We wanted to provide our perspective on a few questions you might be asking yourselves and what history has to say about these kinds of events.
Wanted: Highly organized, people centered, proficient advisor.
Can taxes really be turned into opportunities? We discuss a few strategies!