Q2 Market Update

Market Update: Q2 2020

Well that was an interesting quarter.  The second quarter of 2020 brought us the fastest selloff into a bear market in history, which subsequently turned out to be one of the shortest in history.  Equities around the world continue to whipsaw investors amid COVID-19 and the resulting fiscal and monetary stimulus packages from governments around the world.  In short, the markets seem to be at odds with the economy.

Interest rates have fallen in lockstep and show few signs of rising any time soon.  This makes for great refinancing opportunities for borrowers, but poor bond yields for long term investors.  These are interesting and precarious times.

Here is this quarter’s market update.

Q2 Market UpdateQ2 Market Update

Q2 Market Update

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A Quick Summary of Coronavirus Related Tax Opportunities

A Quick Summary of Coronavirus Related Tax Opportunities

It’s been quite a year so far.  Wildfires in Australia, an impeachment trial of Donald Trump, the death of Kobe Bryant, and the Coronavirus pandemic.  Oh yeah, and don’t forget that it’s an election year.

Given the roller-coaster year it’s not hard to miss some of the tax planning opportunities that have arisen from the Coronavirus and the resulting stimulus legislation.

To help make sure you don’t leave any planning opportunities on the table, this post will review the top Coronavirus related tax opportunities for individuals.

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The CARES Act: Implications for Individuals

The CARES Act: Implications for Individuals

As I’ve written about on the blog and covered on the podcast recently, the CARES Act is a big piece of legislation.  (Remember….the total package is $2.2 trillion!).  We’ve covered several sections of the bill and how it might impact you on the blog recently, including a deep dive into the paycheck protection program.

There are also many provisions in the bill we haven’t covered.  Specifically, sections relating to stimulus checks, expanded unemployment insurance, mandatory distribution holidays, penalty free retirement account withdrawals, and student loan relief.  Coincidentally, all have been commanding a large number of questions from clients of Three Oaks recently.

Like all legislation there is a great deal of gray area in this piece of legislation, especially given the urgency with which it was passed.  The IRS, SBA, Department of Labor, and other government entities are scrambling to provide relevant guidance as soon as possible.  So while there may appear to be some planning opportunities with regard to the law, it’s entirely possible they’re just a temporary mirage.  Nevertheless, here’s what we know now about the CARES Act and how it might impact you as a taxpayer.

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