Beginning on November 1, 2020, individuals (including families) may apply for new health insurance, switch to a different healthcare plan, or re-enroll in their current plan through a Health Insurance Marketplace under the Affordable Care Act (ACA). The open enrollment period for 2021 health coverage ends on December 15, 2020. If you don’t have health…
On August 8, 2020, the president issued an executive order to allow the deferral of certain payroll taxes during the last four months of 2020, and the IRS recently provided related guidance. This has implications for both employers and employees. Here’s a brief summary of the issues. Already-existing payroll tax deferral provisions There are generally…
What would be the impact of a Trump Presidential reelection for a second term? How important is the President on financial markets anyway? In many ways, policies to expect would likely be similar to what’s in place today, and largely opposite of those proposed under a Biden administration discussed a few weeks ago. At the…
On June 8, 2020, the National Bureau of Economic Research (NBER), which has official responsibility for determining U.S. business cycles, announced that February 2020 marked the end of an expansion that began in 2009 and the beginning of a recession.1 This was no great surprise considering widespread business closures due to the coronavirus pandemic and the resulting spike in unemployment, but it was an unusually…
As hundreds of companies race to develop vaccines and drug therapies that could help end the COVID-19 pandemic, news reports on successful or failed trials affect individual stock prices and can trigger swings in the broader market.1 Understandably, this highly contagious virus — and its severe economic repercussions — has a knack for stirring up…
Last Saturday, we gathered with over 450 people to celebrate. As Katherine recently wrote, the Salem Area Chamber of Commerce First Citizen’s Award Banquet is a night to celebrate the good in our community. We are proud of our own Brenna Baucum who was awarded the Outstanding Young Professional Award. In case you were unable…
In late February, Brenna gathered with a dozen other CFP® professionals for a three-day training in financial life planning, courtesy of Money Quotient. Financial life planning is defined as a process of: – Helping people focus on the true values and motivations in their lives; – Determining the goals and objects they have as…
New Cases in South Korea, Italy, and Iran Market Note | 2/24/2020 Financial markets have been especially hard-hit today, with reports of new coronavirus (COVID-19) cases appearing in South Korea, Italy, and Iran. The uncertainty over transmission and fears of a global pandemic—and the resulting slowdown in economic/financial activity—has led to the sharp negative response…
On December 13, 2019, the United States and China announced a “phase one” in trade agreements just before new tariffs were scheduled to go into effect.1 Six days later, the House of Representatives passed the United States-Mexico-Canada Agreement (USMCA) in an overwhelming bipartisan vote, virtually assuring enactment of the long-awaited replacement to the North American…
Medicare premiums, deductibles, and coinsurance amounts change annually. Here’s a look at some of the costs that will apply in 2020 if you’re enrolled in Original Medicare Part A and Part B. Medicare Part B premiums According to the Centers for Medicare & Medicaid Services (CMS), most people with Medicare who receive Social Security benefits…