The Coronavirus Aid, Relief and Recovery Act
(CARES Act)
Dear Friends :
This historic and sweeping legislation was created to help keep workers paid and employed, allows businesses to remain operational and makes necessary healthcare system enhancements to stabilize the economy. We want to make sure you are aware of certain provisions designed to help you.
Retirement Assistance – Retirement plan withdrawals for COVID-19 affected individuals, access to plan loans, waiver of RMDs for 2020 and allowance for plan amendments.
Individual Assistance – 2020 tax recovery rebates for incomes up to $99,000 for singles and $198,000 for married couples.
Small Business Assistance – Paycheck protection program, loan assistance, loan forgiveness, employee retention credit and tax benefits.
Below is a link which will bring up a one page overview of these key provisions and FAQs related to each of the key highlights :
Also, many of our clients are small business owners. We have put together an 11-page guide called "The Small Business Owners Guide to the CARES Act". If you would like us to send you a copy or to someone else, please just let us know.
We’re here for you via phone, video, or email and look forward to discussing the CARES Act or answering any other questions to help you with your financial needs. We continue to keep a very close eye on events globally. As always, stay healthy, and please feel free to reach out if you have any questions.
We will all get through this....together.
