Posts by dkelley

Global Asset Allocation Views – Q2 2020

Global Asset Allocation Views – Q2 2020 “It’s never paid to bet against America.  We come through things, but it’s not always a smooth ride.” Warren Buffet We enter the second quarter of 2020 amid our first bear market since the Great Financial Crisis of 2008.  We are also under stay-at-home orders from Governor DeWine during this coronavirus pandemic and I hope each of you remains safe during these challenging times. As Warren Buffet alluded to in his quote, the ride may be bumpy but American ingenuity will get us through these times as it has done many times over the past 200+ years. ...

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CARES Act for Retirement Plan Sponsors

CARES Act for Retirement Plan Sponsors In these unprecedented times the Federal Government has passed into law the Coronavirus, Aid, Relief and Economic Security (CARES) Act.  Below is a summary of the impact on a company that provides retirement benefits to their employees. There are additional benefits for employers and employees to look into as well: Up to $100,000 Hardship distributions are allowed for individuals pre-age 59 ½  affected by COVID-19 with no 10% penalty and no 20% mandatory withholding. Individuals (spouses or Dependents) must be diagnosed with Sars-CoV2 or Covid-19 by a...

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FFCRA & CARES Act for Businesses

FFCRA & CARES Act for Businesses In these unprecedented times the Federal Government has passed into law the Coronavirus, Aid, Relief and Economic Security (CARES) Act.  Below is a summary of the impact on Small Businesses. There are additional benefits for Retirement Plans and individual you may want to look in to, see our other blogs for those highlights as well.   1) Emergency and sick leave a) Must have less than 500 Employees b) Tax credits for refunding costs pertaining to business function 2) Emergency pay: a) Scaling pay weeks 3 -12 3) Sick leave: a) 80 hours or 2 weeks...

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Coronavirus Individuals CARES Act

Coronavirus Individuals CARES Act In these unprecedented times the Federal Government has passed into law the Coronavirus, Aid, Relief and Economic Security (CARES) Act.  Below is a summary of individual benefits your family might receive. No Required Minimum Distributions for Calendar Year 2020 You have 60 days to roll RMD’s already taken back into qualified plans or IRA’s. Inherited accounts get 1 year extension from 10 yr to 11 yr max withdrawal period. For Trusts it moves from 5 years to 6 years. Stimulus checks: Tax filers with adjusted gross income up to $75,000 for individuals and up...

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Coronavirus Market UPDATE

Coronavirus Market UPDATE   As I write this, we have officially entered a bear market.  The first official bear market since the 2008 financial crisis.  The spread of covid-19 has caused supply constraints, lower demand, concerns in the credit market, and worsening sentiment.  On a more somber note, the mortality rate is around 1%.  Some countries (South Korea and Singapore) have done a better job of containing the spread.  Others (Italy and Iran), not so much.  This is the quickest bear market in history Two events are going to happen in the short to medium-term We will have a...

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