covid-wealth
Retirement Plan Provisions of the CARES Act
AAFCPAs would like to make clients aware of retirement plans provisions included in the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation. These provisions include expanded and penalty-free withdrawal rights, expanded loan rights, extended rights to repay loans and withdrawals, and a deferral of mandatory distributions. Coronavirus-Related Hardship Distributions The 10% early distribution penalty […]
Market Update: Coronavirus Impact
On Monday, March 9th, the New York Stock Exchange (NYSE) halted trading via a procedural tool called a circuit breaker. Circuit breakers were implemented to allow for the market to halt the trading of stocks during periods of extreme uncertainty. There are 3 circuit breaker levels that can be triggered: down 7%, down 13%, and […]
The Markets React to Viral Outbreak
Like you, we too are monitoring the warning from the CDC on Tuesday that the US should prepare for severe disruptions to everyday life as it relates to the Coronavirus. As you can expect, we are keeping a close eye on the related 1,900-point drop to the DOW. Indeed, it is a scary time, but […]