Congress and the White House responded with legislation in early Spring which included the Paycheck Protection Program (PPP) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Let’s take a moment to study how the CARES Act affected retirement. Many account values were and still may be low compared to December 31, 2019. This means for 2020 individuals will not be forced to take withdrawals. Hopefully, this waiver for 2020 will allow the retirement investment time to recover.
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If you own 2% or more of an S-Corporation and have heath, dental, and vision insurance, grab some coffee and read on. S-Corporations are similar to partnerships and Limited Liability Companies in a lot of ways, but there are differences. One of the big differences is that S-Corporation owners are required to pay a reasonable wage. We can help with that.
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With the upcoming Presidential election and some important Congressional seats being contested, several questions have surfaced about the future of estate planning. There are numerous estate planning techniques that professionals use to avoid the worst-case scenario. Holden Moss CPAs explain.
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