When the Tax Cuts and Jobs Act was passed in 2017, it contained an inadvertent drafting error by Congress.  The error made it so that any qualified improvement property (QIP) placed in service after December 31, 2017, wasn’t considered eligible for 100% bonus depreciation.  This typically includes upgrades to retail, restaurant and leasehold property. As [...]

Like many people, you may have worked hard to accumulate a nest egg in your traditional IRA (including a SEP-IRA).  Knowing the finer points of the distribution rules is critical – particularly as some of these rules have changed under the Coronavirus Aid, Relief and Economic Security (CARES) Act. EARLY DISTRIBUTIONS The COVID-19 pandemic has [...]

The stock market’s roller coaster ride this year, spurred largely by the COVID-19 crisis, has many people craving stability.  If volatility makes you nervous, it’s important to maintain a diversified portfolio that won’t plummet in value every time the Dow drops.  One way to diversify your portfolio is with real estate. This doesn’t mean you [...]

Because of the economic downturn triggered by the COVID-19 crisis, many people have found themselves in need of cash to pay unexpected medical bills, mortgage payments and other expenses.  One option is to borrow against the cash value of a permanent life insurance policy, but such loans aren’t risk-free. RECOGNIZING POTENTIAL PITFALLS Before you borrow [...]