Business

Roth IRAs can be a powerful tax tool, but they are often misunderstood and misused. Investment income in Roth IRAs compound tax-free and most distributions are tax-free as well. Another benefit is that there are no required minimum distributions (RMDs) throughout the original owner’s life. Long-term Roth distributions are tax-free to the beneficiaries who inherit… View Article

The Obama and Trump administrations could not have had more different approaches when it came to U.S. relations with China. As the Institute for China-America Studies (ICAS) explains, under the Obama administration, the United States favored a trade and investment approach when dealing with China, while the Trump administration had a national security focus. The… View Article

Looking at a 2009 letter from the U.S. Department of Labor, Occupational Safety and Health Administration (OSHA), employers may be able to require their employees to take the COVID-19 vaccine, with a few exceptions (such as the likelihood of a life-threatening reaction to it). With the COVID-19 vaccine being rolled out, how can employers balance… View Article

With the nation on the precipice of a transition of administrations on Jan. 20, 2021, there will need to be many roles filled both in and out of the White House. With the potential for Janet Yellen to replace Steven Mnuchin as the next treasury secretary, there is much speculation about how the Federal Reserve… View Article

In order to survive – and even thrive – during these unprecedented times, small businesses have had to find new ways to make money. The UPS Store’s Small Biz Buzz survey found that 41 percent of small businesses in the United States took steps to modify their businesses in hopes of survival. Fifteen percent provided… View Article

There are certain year-end financial transactions that must clear by Dec. 31 to be reported on the 2020 tax return. It is important to take a good look at your financial portfolio in light of the plethora of unusual events that occurred this year. Now is a good time to determine if you have fallen… View Article

Economists are predicting that 58 percent of unemployed workers who were laid off as a result of COVID-19 lockdowns are likely to return to their old jobs, according to the Brookings Institution. But with the majority of laid-off workers facing an uncertain employment future, the question remains: How will workers and employers transition into a… View Article

When Congress initially authorized the Paycheck Protection Program, its intent was to provide loans that would be partially or completely forgiven if used for the intended purposes of helping businesses affected by COVID-19 stay afloat and to help those businesses maintain payroll. As part of the Small Business Administration’s (SBA’s) loan application, Form 2483 or… View Article

With winter around the corner and the threat of seasonal viruses looming, a second wave of COVID-19 poses a real threat to our health and business operations, according to Johns Hopkins Medicine. Statistics from the Centers for Disease Control and Prevention (CDC) reveal that the 2019-2020 flu season took 24,000 lives and sickened 39 million… View Article

As bad as the economy is right now due to the COVID outbreak in the United States, many economists are predicting that the long-term outlook is much bleaker. Congress and the Federal Reserve’s efforts at stimulus and interest rate management have done much to keep the economy and stock market afloat; however, small businesses –… View Article