Everything You Need to Know About the New Stimulus Bill

New Stimulus Checks & PPP 2.0! Everything You Need to Know About the New Stimulus Bill

It’s easy to forget, with everything happening in Washington D.C. in the last week, that we have a new stimulus package.  After sitting on the bill for about a week, President Trump signed the Consolidated Appropriations Act into law in the late hours of December 27th.

It was a massive bill, with many sections other coronavirus related stimulus.  I haven’t read the entire Act, and hope that I never do.  I have read the sections related to stimulus checks, the paycheck protection program and a few others though, as they relate directly to many of our clients.

This post will cover what you need to know about those sections: whether you’re entitled to a stimulus check and/or PPP loan, when you might receive one, and other relevant details.

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Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #58: Top Strategies for Tax-Efficient Charitable Giving

 

The year 2020 has been an extremely challenging year for lots of people, businesses, and organizations. Therefore, this is also a time when charitable organizations may need help from donors more than ever. We dedicated today’s episode to exploring some of the tax-efficient strategies you can use to give to charity in a way that minimizes your tax impact. Stay tuned until the end of the episode, where Grant shares his favorite methods of charitable giving and some tips to optimize your tax benefits related to charitable donations.Continue reading

Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #57: A Breakdown of the New Stimulus Bill, Including PPP 2.0!


 

A couple of days ago, President Trump signed into law a second stimulus package for COVID relief. This legislation includes $600 stimulus checks, more funding for the Paycheck Protection Program, along with some updates to the rules, changes to the regulations related to loan forgiveness, tax deferrals, healthcare, and more. Throughout the episode, Grant dives into what these new updates are, how they relate to individuals, business owners, employees, and how you can take advantage of the provisions in the new stimulus package.Continue reading

Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #56: Last Minute Retirement Plan: Tips & Tricks for 2020 Procrastinators

 
At the end of every year, some business owners face situations where they need to set up retirement plans at the last minute due to numerous reasons. We dedicated this episode to reviewing how business owners may overcome this challenge. Over the years, Grant has come up with some strategies and maneuvers that may help you set up retirement plans and make deductible contributions late in the year. Throughout the episode, Grant shares how to implement these strategies in your business.
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Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #55: Everything You Need to Know About Investing in IPOs

 
In recent months, IPO investing has been getting a bit of attention as quite a few popular companies such as Airbnb and DoorDash entered the public market this year. We dedicated this episode to exploring what every investor should know about investing in initial public offerings. Throughout the episode, Grant reviews the process of going public, how the IPO markets have changed over the last few decades, and whether we should expect adequate returns from IPO investing.
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How to Calculate Solo 401(k) Contribution Limits

How To Calculate Solo 401(k) Contribution Limits

Solo 401k plans have many aliases: solo-k, uni-k, and one-participant-k, among others.  Whatever you want to call it, the retirement plan is one of my very favorite for small business owners without eligible participants.  They’re easy to set up, inexpensive to operate, and simple to maintain.

One of the few downsides of solo 401k’s is that they do have one murky intricacy: determining the maximum amount you can contribute in a given year.

This post will cover how to calculate solo 401k contribution limits.  We’ll cover the contribution calculations, the deadlines, and everything else you need to know about the accounts.

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Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #54: The True Cost of Homeownership With Kelly Luethje


 

In recent months, mortgage interest rates have been significantly reduced across the country. Although it may sound like an attractive opportunity for people considering buying a house, there are several complexities related to homeownership. In today’s episode, we’re joined with Kelly Luethje to explore the true cost of homeownership. Kelly is a CERTIFIED FINANCIAL PLANNER™ and the founder of Willow Planning Group. Throughout the episode, Kelly shares her wisdom on the complexities of homeownership and what we should consider before buying a house.

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Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #53: Unexpected Retirement: How to Determine Whether to Take an Early Retirement Package


 

In recent months, many companies have been struggling with numerous aspects of their business due to the economic hardships caused by the pandemic. This situation forces businesses to look for creative ways to cut costs, and one of the methods that companies may use for this is offering early retirement for some of the employees. In today’s episode, we explore what to do if you receive an early retirement offer and how to look at the offer objectively and make a pragmatic decision.

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Case Study: Retiring With $1,000,000

Case Study: Retiring With $1,000,000

Those of you who know me know that I’m a massive baseball fan.  And when it comes to famous quotes from baseball players, one person comes to mind more than any other: Yogi Berra.

Yogi Berra was a long time catcher for the Yankees and had an incredible hall of fame career.  He was equally known for his head-scratching quotes, which the world has affectionately termed “Yogi-isms.”  Yogi didn’t comment often on financial topics, but he does have one quote that applies nicely to retirement planning:

“A nickel ain’t worth a dime anymore.”

When we think about retirement planning, many people consider $1,000,000 as kind of a “golden threshold.”  They think of a million dollars as the minimum nest egg they’ll need in order to retire comfortably.  But as Yogi pointed out, being a millionaire doesn’t amount to what it used to.

So is it even possible to retire with $1,000,000 these days?

Let’s find out.  In this post we’ll explore a hypothetical couple named John and Jane.  They’ve saved $1,000,000 and want to retire, which is a very common situation for many Americans.

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Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #52: Top Year End Tax Planning Moves with Biden in the White House


 

After weeks of delay caused by legal battles surrounding the election, at this point, all signs point to the fact that Joe Biden will be inaugurated as the President of the United States of America. As we discussed in detail in a previous episode, Joe Biden’s tax plan contains tax reforms that affect taxpayers in numerous ways. In today’s episode, Grant dives into some of the tax planning opportunities you should consider in the coming months.Continue reading