Under ordinary circumstances, the opportunity to make changes to workplace health plans and flexible spending accounts happens only once a year. However, new guidelines from the IRS allow workers to revisit those elections now in response to the coronavirus pandemic. “I cannot think of a time when the IRS has been this flexible,” said David Speier, managing
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Xavier Bonghi In today’s environment, it’s just about unimaginable that someone would turn down a $40,000 forgivable loan. Benjamin Brandt, a certified financial planner and president of Capital City Wealth Management in Bismarck, North Dakota, did just that. He initially applied for the Paycheck Protection Program — a forgivable loan program that’s overseen by Treasury
CNBC’s Jim Cramer said Wednesday that investors can find buying opportunities in the market after Wall Street recorded multiple days of losses. The Dow Jones Industrial Average plunged more than 516 points, or 2.17%, to 23,247.97 for its third-straight negative trading session. The S&P 500 and Nasdaq Composite traded 1.7% and 1.55% lower, respectively, for
Business owners who borrowed less than $2 million from the Paycheck Protection Program can breathe a little easier: They likely won’t face an audit from federal authorities. The PPP — a forgivable loan program that allows small businesses to cover up to eight weeks of payroll costs, mortgage interest and other expenses — was refilled
Getty Former First Lady Rosalynn Carter famously said: There are only four kinds of people in the world — those who have been caregivers, those who are currently caregivers, those who will be caregivers and those who will need caregivers. The new, mammoth Caregiving in the U.S. 2020 report from AARP and the National Alliance
US President Donald Trump looks on as US Secretary of the Treasury Steve Mnuchin speaks during a … [+] meeting with Republican members of the US Congress in the State Dining Room of the White House in Washington, DC, on May 8, 2020. (Photo by MANDEL NGAN / AFP) (Photo by MANDEL NGAN/AFP via Getty
Photo: Getty The immediate impact of COVID-19 has many people around the world wondering about its long-term effects on travel, events and everyday activities. While it remains to be seen how COVID-19 will affect our experience of the outside world, many are starting to sense how it will transform our inside worlds by redefining (and
Russia has said an antiviral drug it’s funding has shown promising results in early clinical trials and has called for a global, collaborative approach to finding an effective treatment for the coronavirus. Russia’s sovereign wealth fund (RDIF) has been funding Russian trials of the drug favipiravir, an anti-influenza drug first developed in Japan under the
Chuck Robbins, CEO, Cisco Systems, speaking at the World Economic Forum, Davos, Switzerland, January 21, 2020. Adam Galica | CNBC Cisco shares rose as much as 4% and later lost some of their gains in extended trading Wednesday after the company reported better-than-expected fiscal third-quarter earnings. Revenue dropped 8% from last year’s quarter, steeper than
The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters Stock buybacks are on track for the lowest total on record this quarter, according to Bank of America. The sharp economic
Let’s face it: We’re going to be wearing cloth face masks for a while. Last month, the Centers for Disease Control and Prevention started recommending that people wear face masks in public places where social distancing is difficult to maintain. While experts agree on the importance of wearing masks, as it can help slow the
New York Stock Exchange building is seen at the Financial District in New York City, United States on March 29, 2020. Tayfun Coskun | Anadolu Agency | Getty Images U.S. stock futures were largely flat on Wednesday night after concerns over the U.S. economy and the market’s overall valuation sparked another sell-off in equities earlier
It’s hard to imagine being paid to borrow money or penalized for saving. But the economic shock from Covid-19 may call for drastic measures. Up until this point, the Federal Reserve has never brought its benchmark rate into negative territory and, according to Federal Reserve Chairman Jerome Powell, the Fed is not considering going to negative interest rates now. “The
Congratulations to the 2020 high school graduates! Getty For the senior class of 2020, finishing high school has been something out of the twilight zone—no prom, no graduation ceremony, distance learning at home and canceled finals. While a lot of you have gotten your college acceptance letters and are now deciding which school you want
In new guidance, the SBA has quelled some of the anxiety about the necessity certification for PPP … [+] loans, hopefully encouraging more small businesses to seek crisis aid. Getty The Paycheck Protection Program provided under the CARES Act has given needed funding for small businesses affected by the COVID-19 pandemic. However, it has also raised
Fannie Mae and Freddie Mac have announced additional relief options for homeowners struggling due to … [+] the COVID-19 pandemic. SOPA Images/LightRocket via Getty Images Fannie Mae and Freddie Mac have announced additional relief options for homeowners struggling due to the COVID-19 pandemic. According to announcements from the two companies this afternoon, homeowners in forbearance
People in cars participate in a protest against the coronavirus shutdown in front of State Capitol in Madison, Wisconsin, on April 24, 2020. KAMIL KRZACZYNSKI | AFP via Getty Images The Wisconsin Supreme Court on Wednesday struck down the state’s stay-at-home orders during the coronavirus pandemic as “unlawful, invalid and unenforceable” after finding the state’s health commissioner
This time of year, Tommia Hayes is usually busy coordinating with hundreds of business leaders across several states to organize her employer’s biggest event of the year, a corporate and social responsibility conference, that generally takes place every June in New York City. That conference, like countless other plans waylaid by the pandemic, is now
Getty Images Market dislocations triggered by the coronavirus crisis have sent more capital into Chinese stocks — and some strategists see this as part of a longer-term trend. “We’re finding that a lot of foreign managers globally (are) reshuffling their holdings in this turmoil,” Todd Willits, head of flow tracking firm EPFR, said in a phone interview in late April.
Bill Miller, founder of Miller Value Partners, disagreed Wednesday with the assessment made by other major investors about the market’s valuation being too high. “If you look at the overall market … we’re trading around 17 times the consensus on bottom-up earnings for 2021, which is about the average for the last five years,” Miller