Month: December 2020

Regardless of your profession, employment status, or location in the U.S., it’s likely that you’ve been financially impacted by COVID-19 in one way or another. The undeniable hit to our economy has proven more than detrimental for millions, and for some, the changes have forced revisions to how we view our current state and the
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Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead. The Georgia special election is a few days away. The election will be pivotal in determining if Biden’s administration is able to pass its proposed tax plan. Potential
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Michael Nagle/Bloomberg via Getty Images Morgan Stanley will repay $1.7 million to customers who paid high costs on investments earmarked for education expenses like college tuition. The brokerage firm is paying the sum, including nearly $1.5 million in restitution plus interest, to about 2,300 customers who are saving money in 529 plans, the Financial Industry
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You heard right – a second stimulus payout is on the way. Late on Dec. 27, President Trump signed the massive COVID-19 relief and government spending bill, which includes a second round of stimulus payments to eligible individuals across the country. To help bring you quickly up to speed, here’s a basic breakdown of the
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Start a side gig in 2020? Whether you lost your job due to COVID-19, or you simply wanted to earn some extra cash, side gigs tend to complicate your tax filing a bit. Over the years, the IRS refined its rules for gig workers. But obviously, the IRS still wants you to pay taxes on
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The world of accounting can be a harsh environment. With so many firms offering similar services in a highly competitive marketplace, achieving significant, measurable success can be a daunting challenge. So how do you stand out in a crowded field? By becoming a Visible Expert. What is a Visible Expert? A Visible Expert is a
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With COVID-19 still wreaking havoc across the globe, the U.S. economy has been shaken. In the United States a record number of people are or were once unemployed due to COVID-related shutdowns. Fortunately, many of those individuals qualified for standard state unemployment benefits, plus the additional federal funds offered as a result of the CARES
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It goes without saying that the COVID-19 pandemic was the primary story of 2020, and most of the biggest stories in accounting for the year reflect its impact, in everything from the remarkably smooth move to remote work to a new range of services centered on the Paycheck Protection Program and other stimulus measures. What’s
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Volunteers from Forgotten Harvest food bank at a mobile pantry distribution before Christmas in Warren, Michigan, on Dec. 21, 2020. Emily Elconin | Reuters President Donald Trump signed the $900 billion coronavirus relief bill on Sunday, solidifying another round of aid to Americans. Still, millions of families are staring down a gap in benefits that
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The Securities and Exchange Commission announced that President Trump has named Elad Roisman acting chair of the agency. Roisman has been a commissioner at the SEC since 2018; he had earlier stints as a counsel ot SEC Commissioner Dan Gallagher, as chief counsel to the Senate Committee on Banking, Housing and Urban Affairs, as chief
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