From Our Blog:

CARES Act Reminder: RMD Rollbacks

The CARES Act was passed back in late March to provide economic relief during the Coronavirus pandemic. An important piece of the initial legislation was the waiver of required minimum distributions (RMD) for 2020. The initial legislation did not include relief for those who had already taken a portion or the full RMD prior to the passage of the CARES Act.

Since then, the legislation has been updated to include a provision that extends the opportunity to anyone who already took a required minimum distribution (RMD) in 2020 to also roll those funds back into a retirement account. The rollback period for any RMDs already taken this year is open until August 31, 2020.

Those who take their RMD because it’s a requirement, not for cash flow, should consider taking advantage of these waiver and rollback provisions. Waiving and/or returning your 2020 RMD will reduce your tax liability from the distribution withdrawal and will give the funds more time to grow (in a tax deferred account) as the economy recovers.

How We Can Help

Coronavirus continues to affect all aspect of our lives. We understand that this is an incredibly hard time for everyone. Please do not hesitate to contact us with any questions regarding your portfolio or how these provisions could affect you.

Investor Education
Steven Hannigan

Stablecoins – Not so Stable?

Cryptocurrency continues to make headlines, just not in the way we have become familiar with in the last year. As volatility in crypto assets has shown no signs of abating, crypto investors looked for other avenues to have exposure to a digital currency that could be more stable… enter Stablecoins. […]

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Investor Education
Steven Hannigan

5 Things you Need to Know About Elon Musk Buying Twitter

The whole world is buzzing, or tweeting, about Twitter as the recent news that Tesla CEO Elon Musk tendered a $44 Billion offer to buy the company, and the board of directors accepted the offer. So what happened, what happens next, and what happens to shareholders? First, let’s define a few key terms: […]

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Investor Education
Brooke Snyder

Did the Rams or Crypto Win the Super Bowl?

If you were one of the 112.3 million viewers of the Super Bowl on Sunday, you more than likely saw at least one of the four crypto related commercials. While some voted Larry David’s “Don’t Miss Out” commercial for FTX as the “best” commercial, others were left confused by the estimated $14 million […]

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