To say COVID-19 has made 2020 a disastrous year for just about everyone would be an understatement. However, in response to the economic slowdown and losses of income, Congress passed several extensive laws to benefit individuals and businesses that suffered financial hardship because of COVID-19. Therefore, 2020 has given rise to more than the usual tax-planning opportunities.
In third-quarter markets that represented a second consecutive quarter of remarkable overall gains, what stock outshone all the others in the S&P 1500 Composite Index?
Zoom? Apple? Netflix? Nope, none of these nor any of the other trendy FAANG stocks (Facebook, Amazon, Apple, Netflix and Google’s parent company Alphabet). Not Tesla, either.
The anticipation building up to elections often brings with it questions about how financial markets will respond, but the outcome of an election is only one of many inputs to the market. Our exhibit examines market and economic data for nearly 100 years of US presidential terms and shows a consistent upward march for US equities regardless of the administration in place.
Good news – you have an extra $24,000, and you’ve decided to invest it in the stock market. It’s always nice to have investable cash on hand, but you also might feel as if the pressure is on. Nobody enjoys seeing the market take a dive shortly after they jump in. Unfortunately, we never know when it might do exactly that.
President Trump issued a Presidential Memorandum on August 8, 2020, that directs the Treasury Secretary to use his authority to defer the withholding, deposit and payment of employees’ portions of Social Security taxes from September 1 through December 31, 2020. The goal is to put more money in the pockets of workers during the COVID-19 pandemic emergency.