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The Economic Impact of Coronavirus

In the days ahead, the COVID-19 pandemic will likely be described in economic terms as a Black Swan. This phrase is used to describe an event that: 1) was unpredictable; 2) causes severe and widespread consequences; and 3) in hindsight was determined to be wholly predictable. What will be interesting going forward is how much the virus, and its impact on the economy and financial markets, ultimately affects individual portfolios. It’s worth noting that many economists spent the whole of 2019 cautioning that a recession and market correction was imminent. To what extent investors took heed and repositioned their portfolios is yet to be seen. As predicted, the Federal Reserve… Read More

Understanding the Oil War between Russia and Saudi Arabia

Over the past six years, domestic crude oil has experienced a volatile ride. 2014 saw the emergence of American shale as producers were attracted to the $114 price levels. However, in 2016 the price for a barrel eventually fell to $27 as a global supply glut developed. 2016 also saw Russia and Saudi Arabia form an oil pact that drew together Russia and OPEC, leading to the so-called OPEC+ to navigate the global oil market. This agreement would eventually culminate into the current crude oil tensions that exist between Saudi Arabia and Russia. Through the early 2000s – up until the financial crisis of 2008 – increasing global demand accounted… Read More

CARES Act – Coronavirus Aid, Relief, and Economic Security Act

U.S. Government Provides Relief to Individuals, Businesses in Midst of COVID-19 Crisis On March 27, President Donald Trump signed into law a historic $2 trillion stimulus package designed to provide economic relief to individuals and businesses affected by the coronavirus pandemic. Our aim in this alert is to give a brief overview of both the tax and non-tax provisions of the government’s new stimulus legislation, including what type of assistance is available for individuals and businesses, how to apply for it, and what to do if you become unemployed. The summary is divided into two sections, one for individuals and one for businesses. Individual Provisions Stimulus Payments: Amounts and Eligibility… Read More

Should You File an Amended 2018 Return?

During the holiday season in December, Congress passed the Consolidated Budget Appropriations Act of 2020. Included in this Act was a tax package that renewed more than 24 tax provisions through what are known as extenders. An extender makes a tax provision effective retroactively. Some of the extender provisions are rather esoteric, so we’ll only focus on those most applicable to the broader taxpayer base. Extenders in More Detail Among the widely applicable extender provisions, there are the following. It’s best to check with your tax professional to see which of the more than two dozen extenders may apply to your personal situation. Deducting PMI (private mortgage insurance) if you… Read More

Supporting Veteran Careers, Protecting the Food Supply, and Reducing Wasted Government Spending

Supporting Veterans in STEM Careers Act (S 153) – This bill encourages veterans to participate in STEM (science, technology, engineering and mathematics) fields in a variety of ways, including making veterans eligible for certain National Science Foundation (NSF) programs. The Act directs the Office of Science and Technology Policy to establish an interagency working group to improve veteran and military spouse representation in STEM fields, and authorizes funding for the Government Accountability Office to study 1) the academic success rates of student veterans pursuing an undergraduate degree in STEM and related fields; and 2) the barriers faced by such students in pursuing such degrees. This legislation was sponsored by Sen.… Read More

6506148 B2 Patent: Nervous System Manipulation – Is it Real or Just Paranoia?

Imagine someone manipulating how you feel. Of course, no one wants that. But how about being manipulated unknowingly? This is exactly what is happening to your nervous system every time you switch on your TV or computer. Well, at least according to the 6506148 B2 Patent. The patent named “Nervous System Manipulation By Electromagnetic Fields From Monitors” was filed in 2001 and published in 2003. The patent was filed by one Hendricus G. Loss (perceived to be a fictitious person as no information about who he really is can be traced). Is it Worth Any Attention? We already know that the content displayed on TVs or even on the internet… Read More

7 Ways to Avoid Investment Fraud

These days, you can’t be too careful when it comes to investments. And if you’re older, you’re a prime target for fraudsters. That said, anyone of any age is vulnerable. Here are a few key things to keep in mind when you’re considering investing.       Ask Lots of Questions Of course, you’re going to ask questions, but make sure you ask the right ones. Is the product registered with the SEC or state securities agencies? What are the fees? How does the company make money? What things might affect the value of the investment? Are my investment goals aligned with the investment? How liquid is this investment? For more… Read More

SECURE Act Seeks to Help Americans Save More for the Golden Years

At the end of 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act as part of a year-end appropriations package. This bill is designed to address specific issues related to retirement savings plans in an effort to help Americans save more for retirement. Retirement Plan Contributions People are living longer, and a decrease in employer-sponsored pensions has resulted in retirees relying more on Social Security benefits than in the past. So first, the SECURE Act eliminated the age limit on traditional IRA contributions so that people who work into their 70s and beyond may continue to contribute to the traditional IRA up to the annual limit.… Read More

Coronavirus: Black Swan or Buying Opportunity?

According to the World Economic Forum (WEF), the spread of the coronavirus will impact the world’s economy. Whether it’s a Reuter’s poll from economic experts projecting growth in China slowing to 4.5 percent in Q1 of 2020, in contrast to China’s Q4 GDP of 6 percent; or the International Energy Agency (IEA) saying world desire for oil will be lower due to the coronavirus; or global companies reducing or temporarily closing their Chinese factories, change is on its way. Based on this data, what does the global economic outlook entail? In order to understand how the coronavirus might impact global economies, it’s important to put this in context of other… Read More

4 Common Liquidity Ratios in Accounting

One way a business can manage its books and viability in the near and long terms is to see how liquid its assets are. Businesses that have better cash positions are naturally geared toward sustaining continued success. One important reason for a business to measure and maintain healthy levels of liquidity is because it promotes better odds that a company will be able to satisfy its short-term debts. There are many ways business can accomplish this, and below are four common ways it can be done.   Current Ratio One of the few liquidity ratios is what’s known as the current ratio. It’s a way to determine how well a… Read More