Paycheck Protection Flexibility Act

Article Update: As of June 5, 2020, the president signed the Paycheck Protection Program Flexibility Act into law.

On June 4, 2020, the U.S. Senate passed the House version of a bill designed at providing more flexibility for borrowers that are utilizing the Paycheck Protection Program loans to keep their businesses afloat during the COVID-19 pandemic. With unanimous bipartisan support, the bill now passes to the president, who is expected to sign.

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Topics: Accounting Tips, Tax, coronavirus, COVID-19, CARES Act, Paycheck Protection Program, Paycheck Protection Flexibility Act, PPF, PPP Loan

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

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

FA Market Update - May 1, 2020

Posted by Miller Bentley, Financial Advisor on May 1, 2020

Price growth within the equity markets continues to rally after the February plummet from coronavirus (COVID-19), but why this rebound is happening has most experts searching for answers – especially this past week when a majority of reporting companies revealed underwhelming first quarter earnings.

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

Paycheck Protection Program (PPP) Pitfalls

UPDATE: The SBA has extended the grace period to May 14, 2020.  All other aspects remain unchanged.

The Paycheck Protection Program (PPP) is one of the most influential aspects of the CARES Act legislation enacted by the U.S. Congress to combat the economic effects of the COVID-19 pandemic. In two massive tranches of funding, the PPP pumped nearly $660 billion into the economy and, through the Small Business Administration (SBA), down into the hands of small businesses that are and remain in desperate need.

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

FA Market Update - April 24, 2020

Posted by Miller Bentley, Financial Advisor on Apr 24, 2020

As we roll through the 5th week of Dallas County’s shelter-in-place order, the coronavirus (COVID-19) continues to wreak havoc across the nation. It is apparent in these past few days that not everyone agrees with the restrictive action taken to prevent the spread of the virus, and the number of infected individuals has persisted.

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

FA Market Update - April 17, 2020

Posted by Miller Bentley, Financial Advisor on Apr 17, 2020

The World Health Organization declared the coronavirus (COVID-19) outbreak a pandemic on March 11th, 2020, just over 37 days ago. As most investors are aware, the stock market reached a peak before the pandemic declaration, around February 19th, 2020. Ever since then we have witnessed volatility in the broad markets that most have never experienced, forcing even the most intelligent money managers to scramble for answers.

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

FDIC Sweep Program & Brokered CDs

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

Cash is king, so keep it safe

The past few months have brought to light some unprecedented changes in everyday life, and with those changes have come a heightened focus on health and safety. Physical health can be protected by safe distancing, washing hands, and adhering to CDC guidelines. But protecting your financial health is not always so straightforward. LGT Financial Advisors has a simple solution that allows you the flexibility for over $2.5 million of cash deposit insurance coverage through a deposit sweep program, and purchasing brokered Certificates of Deposit (CDs).

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

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