The Newsroom
Financial and Accounting Updates and Information from Maggart
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From the Monthly Newsletter...
How Employers Can Get Financial Relief with the Retention Tax Credit
To help reduce layoffs during the coronavirus (COVID-19) pandemic, the Coronavirus Aid, Relief and Economic Security (CARES) Act created a new federal income tax credit for employers that keep workers on their payrolls. The credit equals 50% of eligible employee wages paid by an eligible employer in a 2020 calendar quarter. It’s subject to an …
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New Break Temporarily Makes Retirement Plan Withdrawals Less Taxing
A key provision of the Coronavirus Aid, Relief, and Economic Security (CARES) Act is intended to help alleviate some of the economic hardship many Americans are experiencing as a result of the novel coronavirus (COVID-19) pandemic. It allows tax-favored treatment for distributions from retirement accounts in certain situations. The Penalty Waiver & More Under the …
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Protect Your Estate with These Two Essential Documents
Estate planning isn’t just about what happens to your assets after you die. It’s also about protecting yourself and your loved ones. To ensure that your wishes are carried out, and that your family is spared the burden of guessing — or arguing over — what you would decide, put those wishes in writing. Generally, …
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