CARES Act Changes To RMDs For 2020
2020 is a unique year as far as required minimum distributions (RMDs) are concerned. The CARES Act has suspended the requirement for most 2020 IRA distributions–including some 2019 distributions that you might have personally elected to delay until 2020. For our...
An Update of Recent Tax Changes Due to Coronavirus
2019 Personal tax returns do not need to be filed until 7/15/20. 2019 taxes due, as well as 1st quarter estimated tax payments, are not due until 7/15/20. NOTE: 2nd quarter estimated tax payments are still currently due on 6/15/20! 2019 IRA & HSA payments can be...
IRS Releases Mileage Rates for 2020
The IRS recently released the mileage rates for 2020. Beginning Jan. 1, the business mileage rate decreased one-half of a cent for business travel driven and three cents for medical and certain moving expenses as compared to the rates for 2019. The charitable rate is...
Looking To Increase Your Savings? Your Emotions Could Help You Save More
As a business owner, I know that goal-setting helps us achieve real progress and create a shared vision for everyone in our business. I never thought of its influence as emotional, but here’s an interesting article on using our emotions to further our goals: According...