Getting Ahead of Estate Planning

Posted by Miller Bentley, Financial Advisor on Jun 4, 2020

As the deadly coronavirus swept the world, many took precautionary steps to keep themselves and loved ones healthy. Physical well-being is at the forefront of day-to-day living and naturally what we prioritize in reaction to catastrophic events alike – washing hands, wearing a seat belt, wearing sunscreen.

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Topics: Financial Planning, estate planning

Boost gross profits by improving inventory management

Smart inventory management is important for any retail business. However, it’s crucial for auto dealerships when you consider the costs associated with stocking excess vehicle inventory.

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Topics: dealer services, dealership

Pivotal Guidance Regarding the PPP Loan Forgiveness

On Friday, May 22, 2020, the Small Business Administration issued a pair of documents containing much-needed guidance for borrowers and lenders participating in the SBA’s Paycheck Protection Program (PPP).

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Topics: Accounting Tips, Tax, coronavirus, COVID-19, CARES Act, Paycheck Protection Program

FA Market Update - May 22, 2020

Posted by Miller Bentley, Financial Advisor on May 22, 2020

Earlier this year my wife and I embarked on an adventure with our 3 ½ year old niece and nephew – the Ft Worth Stock Show and Rodeo. As a Christmas gift to them (more so probably to their parents) we spent the day viewing all the livestock, indulging in top-quality fried foods, and cheering on the participants in the afternoon rodeo competition.

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Topics: Financial Planning, coronavirus, investment, COVID-19, market

FA Market Update - May 15, 2020

Posted by Miller Bentley, Financial Advisor on May 15, 2020

As the month of May rolls on and life continues to return to “new normal” for some, the questions seem to mount by the hour for those keeping up with the markets. Previous updates have stressed the extreme volatility at play since the COVID-19 breakout, along with the economic downfall that has shown only more glaring signs of turmoil as US businesses have sputtered at re-opening.

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Topics: Financial Planning, coronavirus, investment, COVID-19, market

SBA Loan guidance on Single-Audits for Nonprofits

On May 5, 2020, the Government Audit Quality Center (GAQC), issued an industry alert No. 404 to professionals that serve organizations subject to Government Auditing Standards. Below are the two key items that impact the not-for-profit entities (NFPs):

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Topics: Audit, NFP, loans

Not-for-Profit’s Guide to Federal COVID-19 Stimulus Legislation

The U.S. government has approved far-reaching legislation to provide relief to American families, businesses, and not-for-profit organizations. Two significant bills are the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

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Topics: Not-for-Profit, COVID-19, loans

Main Street Lending Program Targets Relief for Small- and Mid-size Businesses

Responding to the needs of U.S. businesses amid the evolving coronavirus (COVID-19) pandemic, the Federal Reserve Board announced details on April 9 regarding the Main Street Lending Program, which will deliver four-year loans with deferred principal and interest payments to small- and mid-size businesses with up to 10,000 employees and/or less than $2.5 billion in revenue.

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FA Market Update - May 8, 2020

Posted by Miller Bentley, Financial Advisor on May 8, 2020

Creating a plan and sticking to it can be one of the most difficult tasks with regards to financial planning. From the very beginning there is a challenge: where to start? There are multiple starting points, differing financial aspirations, and a countless amount of essential expenses that vary from person to person. Decisions must be made early in order to start moving towards the goal, and decisions will shift as life changes.

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Topics: Financial Planning, coronavirus, investment, COVID-19, market

Texas made changes to the state tax rules because of COVID-19

Federal taxes are not the only tax liabilities impacted by COVID-19.  Various state and local taxing jurisdictions are also grappling with how to balance the desire to help taxpayers navigate these difficult times with their need for tax revenue to continue offering the services and resources critical to citizens. While the federal government can spend more money than they take in, state governments do not have that luxury.  Consequently, the tax relief being offered varies greatly by jurisdiction and by tax type.  This blog post addresses how the State of Texas has responded to this crisis and what taxpayers can expect going forward.  Many of the items discussed below are also discussed at the Comptroller’s website, where there is a dedicated COVID-19 resources page.

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Topics: SALT

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