Ep 33: Coronavirus Update – CARES Act and Taxes

Today's Hack

How is coronavirus impacting the market, your financial plan, and your taxes? Find out in today’s coronavirus update.

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Show Notes For This Episode

Today’s Hack:

How is coronavirus impacting the market, your financial plan, and your taxes? Find out in today’s coronavirus update.

Click the timestamps below to jump ahead in the episode…

Other Retirement Facts:

With the impact of coronavirus, there seems to be constant change as we adapt to new plans and situations. Every other show we’ll do a bit of a coronavirus update, so on this episode of Phil’s Tax Hacks we’ll talk about everything from the market volatility to the new CARES Act.

Have we reached the bottom yet in the market? Will we bounce back quickly? What will our new normal look like with coronavirus? From ordering packages to working from home to shaking hands, this has majorly changed how we do things. There are a lot of unknowns long-term.

Clients who have had a strong financial plan in place are grateful that they have been set up for success despite what’s happened with coronavirus and the market. While none of us could have predicted this, the more prepared you are for risk, the better off you’ll be.

What are some of the plans for a stimulus package or the CARES Act? What will the stimulus package do for those receiving Social Security? What do you need to know about the tax deadline being pushed back?

Listen to the full episode or click on the timestamps below to hear the latest updates regarding coronavirus and your financial plan.

1:50 – Coronavirus Update: What is the market doing now?

4:44 – What is our new reality?

8:40 – How have Phil’s clients been?

10:16 – What will the stimulus package do for those on Social Security?

13:44 – With taxes pushed back, should you still pay quarterly?

20:28 – Adjustments may need to be made.

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