fee only financial advisor deer park barrington chicago The CARES Act- Mortgage Forbearance Request draft

CARES Act: Mortgage Forbearance Request   Background:  Another provision of the CARES Act, for keeping more funds in your pocket, allows for individuals with a mortgage to defer their mortgage payments for 90 days, and as long as 180 days. Timing: This is an immediate benefit you can receive. Benefits: If you have a federally backed…

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The CARES Act For Businesses: Employee Retention Credit

CARES Act For Businesses: Employee Retention Credit If you do not receive a loan from SBA as a result of the other portions of this law, you may be able to claim a very favorable tax credit. This is a refundable credit that goes against the businesses’ share of Social Security taxes, typically 6.2%. First hurdle:…

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The CARES Act- Unemployment Benefits fee only financial advisor deer park barrington chicago unemployment benefits draft

CARES Act: Unemployment Benefits Background: Unemployment is a resource available to those when they lose their employment.  It is meant to provide a percentage of the previously earned income while you look for other employment.  During this Coronavirus pandemic there have been Millions unemployed temporarily and/or permanently. Because the length of this pandemic is uncertain and…

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fee only financial advisor deer park barrington chicago The CARES Act- Miscellaneous Healthcare Benefits draft

CARES Act: Miscellaneous Healthcare Benefits Background: As a result of the Patient Protection and Affordable Care Act (PPACA) from 2011, most ‘over the counter’ drugs and medicines technically required a prescription to be considered a qualified expense. Meaning it could be paid from the different Health focused savings accounts like a Flexible Savings Accounts (FSA),…

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