Allison Bookkeeping & Tax Service - Resources
 
Articles for July, 2020
Tax and Financial News
HEROES ACT Can Combat Economic Downtown
July, 2020
The HEROES Act, otherwise known as the Health and Economic Recovery Omnibus Emergency Solutions Act, can greatly improve the benefits for the earned income tax credit (EITC) for eligible workers who don't have...
IRS Questions and Answers on COVID-19 IRA and 401(k) Loans & Distributions
June, 2020
The CARES Act stimulus package substantially relaxed the rules around certain retirement account loan and distribution requirements, but with much confusion. As a result, the IRS recently put out a FAQ...
General Business News
Hiring in the Age of Coronavirus
July, 2020
The U.S. job market gained 2.5 million jobs during the month of May, dropping the unemployment rate to 13.3 percent, according to the U.S. Bureau of Labor Statistics. There's likely been a lot of rehiring, with...
Understanding the Federal Government's Proposal for Opening Up Again
June, 2020
After seeing a peak and then a sustained decline in coronavirus cases, hospitalizations and deaths resulting from COVID-19, the White House and the Centers for Disease Control and Prevention...
Stock Market News
How Likely Would a Second Coronavirus Wave Negatively Impact the Stock Market?
July, 2020
As Johns Hopkins University of Medicine's Coronavirus Resource Center revealed a recent increase of coronavirus cases in the Southern and Southwestern United States, the VIX ticked...
Are Dividends Becoming a Luxury During the Coronavirus Pandemic?
June, 2020
According to the futures market, Chicago Mercantile Exchange contracts are forecasting a drop of 27 percent in dividends over 24 months for the S&P 500 index. Dividends are projected...
Financial Planning
How To Use Qualified Charitable Distributions For Charitable Giving
July, 2020
Each year, millions of Americans make donations to charitable organizations and receive something in return – a tax break. However, the 2017 Tax Cuts and Jobs Act curbed this tax advantage because it reduced the...
Why Sequence of Returns Risk Matters Now
June, 2020
That year or two when you are closing in on your retirement date, followed by a year or two after you retire, are the worst times for a sustained market decline. Market analysts call this scenario the sequence of...
What's New in Technology
Fileless Malware Poses New Threat to Computer Users
July, 2020
With increased cyber threats, there is great awareness of malware that comes attached in files.  Individuals and businesses invest in security solutions to protect against malware. In fact...
How IT Spending Will Change When Business Resumes
June, 2020
Most states are starting to relax stay-at-home restrictions. As such, businesses are developing plans for bringing employees back to work. Many businesses are already affected by the pandemic...
Guest Writer of the Month
How Businesses Can Help Protect Themselves Against Civil Unrest
July, 2020
If the COVID-19 pandemic isn't a big enough strain on businesses trying to engage in commerce, whether it’s retailers, restaurants, manufacturers or those in the service sector, civil unrest puts another strain on...
Payroll Protection Program Loan Forgiveness is Here
June 2020
The first Payroll Protection Program (PPP) loans were made over eight weeks ago, which means they may be forgivable if the guidelines set forth by the Small Business Administration (SBA) and United States Treasury Department are met....
Tip of the Month
Best Part-Time Jobs During Corona
July, 2020
Even though unemployment is still relatively high, there are still some great part-time jobs you can do that will help cover basic expenses. Here’s a list of the industries that are hiring right now...
How to Stay Productive When Working from Home
June, 2020
Due to the unprecedented effects of COVID-19, the line between our professional and personal lives has blurred. Trying to take care of job responsibilities from home requires new ways of navigating. Here are a few ideas to help you...
Congress at Work
Helping Small Business Owners, Seniors and U.S. Hostages, and Limiting Intrusive Domestic Surveillance
July, 2020
Paycheck Protection Program Flexibility Act of 2020 (HR 7010) – Rep. Dean Phillips (D-MN) introduced this legislation on May 26. This Act modifies provisions related to small business loans issued under the...
In the Wake of the Coronavirus Pandemic, Congress Passes the Most Expensive Single Spending Bill in American History
June 2020
Paycheck Protection Program and Health Care Enhancement Act (HR 266) – This is a multilayered legislative bill divided into four distinct sections. Phase 1 authorized...