Millions of Americans have found themselves without a job as unemployment rates rose to 14.7 percent in April.1 Even as states begin loosening stay-at-home orders and allowing businesses to resume operation, not all who were laid off weeks ago have a job to return to. Industries like hospitality, travel and entertainment have taken some of the hardest hits, with events canceled or postponed through the end of 2020.
Tax season is officially in full swing and while you’re probably focused on filing your 2019 tax return by the recently extended deadline of July 15, 2020, it’s never too early to begin preparing for next year.1 There are some cases in which the deduction amounts remain the same as 2019. For instance, medical and dental expenses, as well as state and local sales, are not changing in the new year. However, standard deductions, income thresholds for tax brackets, certain tax credits and retirement savings limits have increased and may be important for you to keep in mind.
During the first week of April, 2020, 6.6 million unemployment claims were filed amidst the COVID-19 pandemic. The week prior, the Department of Labor reported 7.455 million claims - an all-time record high, surpassing the previous 6.635 million filed in May of 2009.1
As COVID-19 continues to spread throughout the globe, individuals are adjusting to new lifestyles in an effort to curb the spread. While there are many factors of this pandemic we cannot control, practicing social distancing and creating new routines to remain physically and psychologically healthy are just a few of the actions we can take.
The COVID-19 outbreak is forcing many businesses to alter the way they work. This means many are facing the unprecedented challenge of managing a business through a global pandemic - while keeping their workforce motivated and focused. For business owners questioning whether or not they’re doing right by their employees during these uncertain times, we’ve gathered up a list of important do’s and don’ts to managing your workforce amidst the COVID-19 pandemic.
With coronavirus fears growing, millions of homeowners have been receiving surprisingly good news as mortgage rates continue to hit new record lows. As of April 2, 2020, the national average rate for a 30-year mortgage has fallen to 3.33 percent, with an average of 0.7 points paid, according to data from Freddie Mac.1 Mortgage rates have plunged back to the lowest levels in decades, yet overall mortgage applications were down 17.9% in the week ending April 3, 2020 according to the Mortgage Bankers Association.
