On Friday, March 27 the Coronavirus Aid, Relief, and Economic Security “CARES” Act was signed into law. The key issues covered in the almost 900-page bill include provisions such as providing liquidity to individuals and businesses, expanding unemployment benefits, and incentives for businesses to retain employees. A few of the provisions are as follows.
The COVID-19 pandemic has had a significant impact on global economies and world markets (to say nothing of the health tragedies). In volatile times like these, human nature causes many investors to want to sell their portfolios for fear of major losses—short term and potentially long term. Before we delve into this topic further, we want to remind clients about a few core tenets of portfolio construction and asset allocation.
Individual taxpayers can take advantage of educational tax credits on their Pennsylvania Individual Income Tax Returns through the use of a Special Purpose Entity (SPE). A SPE is a pass-through entity specifically set-up to aggregate contributions of donors and contribute the money to the qualified organizations. SPEs are set up by organizations that apply for and receive educational tax credits from the Commonwealth of Pennsylvania.
The stock and bond markets have had spectacular returns since the trough of the market on Christmas eve 2018. The stock market (S&P 500) is now up 44.7% and the bond market (Bloomberg Barclays US Aggregate Bond Index) is up 9.6%. While investors have no doubt enjoyed these returns, they should be aware of the potential for an unintended, and potentially unwanted, consequence of strong markets.
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