Displaying items by tag: covid
Investors have been looking for assets poised for a rally as the economy begins to open. Many specific sub-industries like…read the full story on our partner Magnifi’s site
Many Airlines saw increases in stock prices on Monday as increases in bookings for spring and summer leisure trips…see the full story on our partner Magnifi’s site
Most pharmaceutical companies kicked it into high gear to develop the Covid-19 vaccine, but they received very little investor attention…see the full story on our partner Magnifi’s site
Many advisors may not have realized it yet, but the new COVID relief package passed by Congress recently has many benefits for upper middle class Americans and even those in the mass affluent category (which constitute tens of millions of clients for advisors). Other than the $1,400 checks, there are also two lesser known details advisors need to be aware of. If a client qualified for a check last time, but did not get one, they can claim the money they would have been entitled to as a credit against their taxes. It is a bottom line deduction that comes directly out of taxes owed. If no taxes are owed, they should get the credit as a refund check Additionally, the package offers enhanced child tax credits. This is $3,600 per child under 6 years old, and $3,000 per child between 6 and under 18 years old. The latter used to be for those under 17, so this helps those with 17 year-old children. Finally, those who have student loans that will be forgiven will not have to pay taxes on the forgiven amounts, which is a massive benefit for those who qualify.
FINSUM: There is a lot more to this package than many realize. Advisors should take a deeper dive to see what applies to their clients.
The U.S. is set to ramp up its stimulus efforts as it passes the Biden Administrations' $1.9 trillion covid relief package. China, however…view the full story on our partner Magnifi’s site