The CARES Act Supplement: New Relief Funds Authorized

On April 23rd, Congress approved a second emergency package to expand funding for small businesses, nonprofits, hospitals and money for COVID-19 testing. The measure replenishes the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program for nonprofits and small businesses.  In addition, the second stimulus provides $75 billion to hospitals and health-care providers, who face budget gaps created by a slowdown in elective surgeries and the surge of patients sick with COVID-19, and $25 billion to accelerate testing efforts across the country.

Small Business Loans Under the CARES Act

In our recent article, “The CARES Act: A First Look,” we discussed the wide variety of stimulus programs created with the CARES Act legislation, notably including several loan and tax relief initiatives available for small businesses and business owners. Small businesses are being especially hard hit by the COVID-19 pandemic, and it behooves business owners to become familiar with the various support options available to them under the CARES Act.

The CARES Act: Impacts on Endowments & Foundations

We have spent a great deal of time in recent weeks connecting with our clients and friends who oversee endowments and foundations, listening to their concerns and offering counsel as we all navigate this pandemic and its impact on our communities. Many of our clients feel an understandable tension, as the financial stress impacting their portfolios is occurring at the same moment when the needs of their constituencies are most urgent.

Strategic Planning in Volatile Markets

Our conversations with clients usually cover topics that range beyond investment and financial affairs. That has rarely been truer than during the past month or so as the COVID-19 outbreak has spread across the world, and as we have been talking to you about your health and well-being, your families, friends and communities, and about the adjustment to the new social distancing protocols that are transforming our daily lives.

The CARES Act: A First Look

On March 25, the Senate unanimously passed a significant stimulus bill to help individuals, families, and businesses weather the economic disruptions caused by COVID-19. The passage of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is the culmination of several days of negotiations between Republican and Democratic leaders in Congress and the White House. The bill was signed into law on Friday, March 27.

Tax Loss Harvesting: Upside To A Down Market

The market's path forward is extremely uncertain right now, but there are still planning steps that investors can implement today to generate positive results down the line. Tax loss harvesting (the process of realizing a loss on the sale of an asset, in order to mitigate taxes on subsequent capital gains) is one of those planning steps. We have been talking with an increasing number of clients about this topic recently, and wanted to share some basic concepts related to tax loss harvesting.

2019 Year-End Planning Letter

Each year, we send a letter to clients to help guide year-end planning discussions and to offer ideas for them to consider with their other advisors. Our goal in year-end discussions is to ensure that client plans are updated as needed, based on changing external conditions as well as the client’s circumstances, so that we stay on track to deliver the long-term outcomes that each client seeks.

Family Matters: New Considerations for Structuring Family Offices

Families that have created or inherited considerable wealth contend with a wide range of responsibilities. They must support the needs of the current generation; oversee homes, aircraft, curated art and other substantial fixed assets; preserve and transfer wealth for the benefit of future generations; and, in many cases, fund broader community and philanthropic aims.

2019 Year-End Planning Letter

Each year, we send a letter to clients to help guide year-end planning discussions and to offer ideas for them to consider with their other advisors. Our goal in year-end discussions is to ensure that client plans are updated as needed, based on changing external conditions as well as the client’s circumstances, so that we stay on track to deliver the long-term outcomes that each client seeks.

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