The pandemic has thrown businesses into a never-before-seen scenario that has upended how they operate. Many businesses that were thriving before the pandemic now find themselves having to make difficult decisions, including whether to furlough or lay off employees. This task is not as simple as cutting payroll. Other factors must be considered. For example, furloughed employees are treated differently than laid-off employees when it comes to employee benefits.
If you need to access your money in the near future, you'll want a good short-term investment. What are the best ways to maximize profits and minimize risk if you want to invest the extra cash you have?
When the COVID-19 pandemic was declared a national emergency earlier this year, it triggered Section 139 of the Internal Revenue Code. Under Section 139, employers can provide tax-free payments or reimbursements to employees for certain expenses associated with a qualified disaster — such as the COVID-19 crisis.
Traditionally, strategic planning provided a road map for a future that was fairly predictable. The pandemic changed that in a dramatic fashion. Today’s business landscape is fraught with uncertainty, yet we are finding ways to deal with a new normal that is still a work in progress.
Have you ever worried about medical costs consuming your savings? Rising medical costs and longer life expectancies are making this a concern for many. There are some government programs like Medicaid and Medicare that can help cover some expenses of long-term care. However, there are restrictions on what is covered and qualifying for these programs may only be possible after you have used all your personal savings.
When a company is involved in an M&A, either as a buyer or a target, analyzing the prospective transaction to determine if it makes sense for shareholders is critical. Knowing the basics of when or if a deal makes practical and financial sense is helpful, but seeking help from a qualified professional to analyze the pros and cons in depth is a must.
Optimizing your operating cash flow really boils down to three basic rules:
The IRS has published its annual list of "dirty dozen" tax scams. They do this every year, but 2020 is special, as the scammers have managed to turn the pandemic to their advantage.
On Aug. 8, the White House issued a series of memorandums and executive orders to provide relief while Congress continued to debate legislative action. However, there are limits regarding what can be done in the absence of congressional approval, and that has led to confusion about what exactly is being provided.
Maybe your job, even your entire sector, has disappeared in 2020's economic turmoil. Or perhaps you are just reaching a point at which you are ready to take the next step in your life. It's possible you want to leave your corporate job for something more creative where you can make your own hours. Or you'd like to focus only on non-income-producing hobbies. Another option is focusing on working in spurts and traveling in between. If you're thinking that early retirement is something that can happen now — or within a few years but before the "magic" age of 65 — consider your options.
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