A strong force in the housing market: single women Jerry DuPaw of Guaranteed Rate shared a great article: READ FULL ARTICLE Investment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. BCM and Carla Merlak/Merlak Tax Advisory Group, Inc. are independent of each other. Insurance products and services are not [...]
Ease your mind about financial uncertainty: When it comes to your financial security, providing you the tools, resources and education to make the best decisions has always been my priority. We are all feeling the stress during these times of uncertainty but it is different for each person. You may be worried about health issues [...]
CARES Act – Unemployment Unemployment Benefits - Unemployment insurance provisions now include an additional $600 per week payment to each recipient for up to four months, and extend UI benefits to self-employed workers, independent contractors, and those with limited work history. The federal government will provide temporary full funding of the first week of regular [...]
CARES Act – Charitable Contributions What changed: The CARES Act includes three major changes to charitable giving. The first change relates back to RMD suspensions for 2020. You can still do a qualified charitable distribution (QCD) of up to $100,000 from your IRA to a qualified charity in 2020. The direct distribution to a charity would not show [...]
IRA Distribution Exceptions – New coronavirus-related distribution exception What changed: A coronavirus-related distribution is one that is made after January 1, 2020 and before December 31, 2020 for an individual or their spouse who is diagnosed with COVID-19 or if they experienced adverse financial consequences caused by the coronavirus, such as being laid off, having hours [...]
Required Minimum Distributions What changed: Perhaps the biggest retirement-related change the CARES Act made was suspending all required minimum distributions (RMDs) from retirement accounts for 2020. These accounts include 401(k)s, inherited retirement accounts, 403(b)s and 457(b)s. The provision is very broad and is not a push off to 2021 – you will not have to take [...]
The CARES Act and 401(k) loans (and other defined contribution plans) What changed: Many 401(k)s and other defined contribution plans allow participants to take out a plan loan of up to $50,000 or half of their own vested account balance. Typically, loans are then repaid over a five-year period through payroll deductions. The CARES Act made [...]
As an investment advisor representative with Brookstone, I am confident with our investment team to be doing everything they feel is appropriate for the current stock market volatility. Mark DiOrio, CFA, Chief Investment Officer of Brookstone Capital Management, shares an important message to help us with the fears of uncertainty. brookstone client approve covid update [...]
The SECURE Act is now in place - With Senate's passing and President Trump's signing, certain key law changes MAY IMPACT YOU RETIREMENT starting January 1, 2020. SECURE is an acronym for Setting Every Community Up For Retirement Enhancement. This is the biggest change to retirement legislation in 13 years. Those nearing retirement or in [...]
If you own mutual funds in a taxable account, you probably know about capital gains which get reported on your tax return. During tax season I always have a few clients that complain about having to pay tax on the capital gains when they didn't even sell the fund AND they lost money during the [...]
