Valerie Peck |
Who Is Your Trusted Contact? This vital investment account question should be answered sooner rather than later. Provided by Peck Financial Advisors Investment firms have a new client service requirement. They must now ask you if you would like to provide the name and information of a trusted contact.1 You do not have to supply this information, but it is encouraged. The request is made with your best interest in mind – and to lower...
Monthly Economic Update Presented by: Peck Financial Advisors June 2020 U.S. Markets Stocks rallied in May, sparked by a supportive Federal Reserve, stories of states re-opening, and reported progress on a COVID-19 vaccine. The Dow Jones Industrial Average rose 4.2%, while the Standard & Poor’s 500 Index picked up 4.5%. The NASDAQ Composite led, gaining 6.7%.1 Shift in Focus April’s positive momentum continued into May, as stocks registered healthy gains, and investors looked to future...
Monthly Economic Update Presented by Peck Financial Advisors, May 2020 U.S. Markets Stocks rebounded sharply in April, fueled by a flattening pandemic curve and positive results from a clinical trial investigating a treatment for COVID-19. The Dow Jones Industrial Average, which dropped 14% in March, jumped 11.08%. The Standard & Poor’s 500 Index rose 12.68%, and the NASDAQ Composite surged 15.45%.1 Slowdown in Infections Just as it appeared that April might be a repeat of...
Monthly Economic Update Presented by ​Peck Financial Advisors, April 2020 THE MONTH IN BRIEF The Coronavirus Aid, Relief, and Economic Security (CARES) Act has been signed into law, bringing relief to millions of Americans, most of whom are expected to be quarantined for at least another month. The White House has asked Americans to continue “socially distancing” during the month of April. Volatility continued in International markets, even as the COVID-19 (novel coronavirus) reached the...
So these are fast-moving times with a great deal of information flying around us. I wanted to be sure you’re aware of a few of the financial details. The IRS has pushed out 2019 tax filing to July 15, 2020. Estimated quarterly taxes that are usually due in April have also been pushed out. You can still pay them earlier, but they are not due until July 15, 2020. More specifics at: https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed Please check...
Valerie Peck |
Roth IRA Conversions What are your options? What are the benefits? Provided by Peck Financial Advisors If you own an Individual Retirement Account (IRA), perhaps you have heard about Roth IRA conversions. Converting your traditional IRA to a Roth IRA can make a lot of sense depending on your situation. But remember, consulting with your financial advisor before making financial decisions is never a bad idea. Ready to learn more? Read on. Why go Roth...
Valerie Peck |
Key Provisions of the CARES Act Distributions can be waived in 2020 for Inherited Accounts, 401(k)s, and IRAs. Provided by Peck Financial Advisors Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.1 To put this legislation in perspective, Congress earmarked $800 billion for the Economic...
Per the Los Angeles Times on 3/20/2020, tax filing and payment deadlines for 2019 Federal and State of California have been pushed out to 7/15/20. Estimated Payments usually due in April and June of 2020 have also been pushed out to 7/15/20 by both the IRS and the California Tax Franchise Board. "Individuals can delay payments of up to $1 million in taxes and corporations can defer payments of up to $10 million until July...
Valerie Peck |
Coronavirus & More The 24-Hour News Cycle moves from Impeachment to COVID-19 to the Primaries – What’s next? Provided by Peck Financial Advisors In recent weeks, we’ve seen several major stories in the news. On the political front, in addition to the arrival of the presidential election through the 2020 caucuses and primaries, we have just experienced the third presidential impeachment in American history. In international news, the latest coronavirus outbreak has hit China, now...
Valerie Peck |
New I.R.S. Contribution Limits A look at the maximum amounts you can put into retirement accounts this year. Provided by Peck Financial Advisors The I.R.S. announced the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan accounts for 2020. Here’s a quick look at them. *In 2020, you can put up to $6,000 in any type of IRA. The limit is $7,000 if you will be 50 or older at any time...
ABLE Accounts for Loved Ones with Disabilities More families should know about these tax-advantaged savings vehicles. Provided by Peck Financial Advisors Families with special needs children have a new tax-deferred savings option. The ABLE account, also called a 529A savings account, is patterned after the popular 529 savings plan, created to help parents save for a child’s higher education. Like 529 plans, ABLE accounts are run by states rather than the federal government. These plans...
Valerie Peck |
How to thaw a credit freeze. Provided by Bankrate.com Freezing your credit is an excellent way to protect yourself against identity theft in a world where data breaches and hacks are becoming more and more common. During the 2017 Equifax data breach, for example, over 140 million Americans had their personal information exposed. Freezing your credit reports can help prevent identity thieves from using leaked personal information to apply for credit in your name; if...