Legislative Update: Paycheck Protection Flexibility Act

The Paycheck Protection Flexibility Act was signed into law on June 5, 2020. The new legislation modifies the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are the details: Extension of loan utilization period. Originally, the PPP required borrowers to spend their full loan within eight (8) weeks after the loan originated. This was […]

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What Are The Benefits Of Naming A Corporate Fiduciary?

Many individuals who establish trusts choose to name a close friend or relative as trustee.  However, there are many situations where naming a corporate fiduciary is a far better alternative. Acting as a trustee requires that the person have a good background in finance and tax. Failing that, the liability of making poor financial decisions […]

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Congress Waives Required Minimum Distributions

The CARES Act ( the “Act”) waives the required minimum distribution rules for certain defined contribution plans and IRAs for calendar year 2020. This provision provides relief to individuals otherwise required to withdraw funds from such retirement accounts. This also includes individuals who turned 70 1/2 in 2019 but elected to defer their initial distribution […]

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Personal Finance 101: What’s the Difference Between a Stockbroker and an Investment Advisor

Thank you to Blank Slate for publishing my recent article, “The Difference Between a Stockbroker and an Investment Advisor.” Far too many people don’t understand that there is a big difference between these two roles. A financial advisor must put their client’s interests first. They are a fiduciary, and have a legal and ethical obligation of primary loyalty to […]

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