Stimulus Check Calculator
Use this calculator to determine your rebate using your AGI, number of dependents, and filing status
US Small Business Administration - SBA.gov
Internal Revenue Service - IRS.gov
US Department of Labor - Family First Correspondence Act - DOL.gov
US Department of Education - Student Loans - ED.gov
Social Security Coronavirus help: SSA.gov/CoronaVirus
Consumer Financial Protection Bureau - scams - ConsumerFinance.gov
State of Louisiana Coronavirus Response - Coronavirus.la.gov
State of Mississippi Coronavirus Response - Coronavirus.ms.gov
FAQ On The Show
TOPIC: Should I dip into my 401(k) / IRA?
Coronavirus Relief Program instant download.
You can find out about:
- Are you Eligible?
- What will lenders be looking for?
- How much can you borrow?
- Will this loan be forgiven?
TOPIC: What's in the Coronavirus Stimulus (CARES Act)?
TOPIC: Coronavirus crushed my Airbnb. Can I get assistance from the relief package?
TOPIC: What if my IRA took a beating with the market downturn?
TOPIC: Do I have to pay back my 401(k) if I withdrawal early?
TOPIC: Is borrowing from my 401(k) considered a loan because of Coronavirus?
How can you get help from the Coronavirus stimulus packages? Here's a few ways:
Stimulus Round 2: What's in the HEALS Act?
This includes another round of stimulus checks, a sequel to PPP, liability protections, and an extension of Unemployment benefits. Here's a rundown of the legislation from Fox Business.
Economic Impact Payment:
This is the stimulus check that most citizens will get, and most people will get it automatically.
If you haven't received your check, but are expecting one, the IRS has set up an online portal for you to track your Economic Impact Payment (IRS.gov/GetMyPayment)
If you don’t normally file a tax return, you can use the agency’s non-filers tool to update your information
If you moved since you last filed your taxes and can’t provide direct deposit information, you can change your address here.
The Paycheck Protection Program:
Economic Injury Disaster Loans:
FFCRA - Family First Coronavirus Relief Act:
Student Loan payments suspended:
Penalty free withdrawals from your 401k/IRA
In response to the Coronavirus the IRS will let you withdrawal up to $100,000 dollars from your 401k/IRA penalty free, but there are rules. The 401k withdrawal will count as a loan that you must pay back within 3 years. Any outstanding repayments from 401k loans will have no more payments due in 2020.
Social Security recipients should expect a stimulus check soon, unless you are claimed as a dependent or make too much income to qualify. If you would like to add or update your address or direct deposit information, a portal has been set up for you.
Some areas are slowly phasing out the Stay At Home orders, and are reopening society and the economy. The White House has laid out a guide for both individuals and small businesses on how to get back to regular life in the face of the continuing Coronavirus pandemic: WhiteHouse.gov/OpeningAmerica
SSI Recipients NON-filers:
SSI recipients who have dependent children and did not file 2018 or 2019 taxes need to act by Tuesday, May 5, in order to receive additional payments for their eligible children quickly. https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here
The Internal Revenue Service released guidance Monday for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program. The guidance in Notice 2021-20 echoes the information the IRS has already provided in its employee retention credit FAQs, but includes some clarifications and discusses the retroactive changes to the CARES…
The controversy over the deductibility of payroll expenses by Paycheck Protection Program (PPP) loan recipients has finally been settled, less than a week before the end of the year. Deductibility is expressly provided for in the Consolidated Appropriations Act, 2021. That 5,500+ page legislation was passed by the House and the Senate on Monday, Dec. 21. President…
The end of the year is fast approaching, yet there is still time to take charge of your taxes. While that might seem like something only the wealthy would do, there are also ways for the average American to save money — even if you are part of the 90% who take the standard deduction…
The Fed and the promise of a vaccine aren’t enough to protect investors from a ‘reckoning,’ top economist warns
By Shawn Langlois ‘We still have quite a bumpy journey left’ Investors had plenty to be thankful for last week, considering how the stock market behaved in the face of surging COVID-19 cases and some potentially troubling signs on the economic front. By the time Friday’s closing bell marked the end of the holiday-shortened stretch, the…
Coronavirus has proven to be a major threat to our overall well-being. And with all the trouble it’s caused to families, now could be a good time to review your own estate planning needs. It’s something that many people may be overlooking, either accidentally or on purpose, as this economic and health crisis plays out.…
The story won’t go away without explanation, even if the Veep wins. Most of the media is ignoring the emails found in Hunter Biden’s laptop, but that doesn’t mean they aren’t news. Joe Biden has an obligation to answer questions about his son’s influence-peddling and his own financial dealings—notably regarding China. The New York Post…
This Overlooked Variable Is the Key to the Pandemic It’s not R. There’s something strange about this coronavirus pandemic. Even after months of extensive research by the global scientific community, many questions remain open.Why, for instance, was there such an enormous death toll in northern Italy, but not the rest of the country? Just three…
Many older workers entered the pandemic with little saved toward retirement. Here’s how they can improve their finances now
KEY POINTS A lot of older workers do not have a pension or 401(k) plan to draw money from when they retire. Many approaching retirement often have meager savings — just $88,000. If that’s you, there are steps you can take to help you live more comfortably later. Many people’s retirement dreams received a reality check following the…
KEY POINTS Hundreds of thousands of Americans have pulled money from 401(k) plans during the coronavirus pandemic. The CARES Act allowed savers to withdraw up to $100,000 before the end of the year without penalty. Thinking of retirement savings like a monthly income stream, similar to a pension or Social Security, instead of a lump…
In The Media
Coronavirus update from Gregory Ricks
UPDATE: May 14, 2020
We have decided that on Monday, May 18, we will begin allowing in-person office visits as deemed necessary.
For those who do not feel comfortable coming inside of the office, we will continue scheduling phone visits or virtual meetings via Zoom video call.
Monday - Thursday 9:00 AM - 4:00 PM
Friday 9:00 AM - 3:00 PM
As always, the office and conference rooms will be thoroughly sanitized after each visit. Please reach out if you have any questions, (504) 832-9200.
If you have been sick, or have been in contact with someone who is sick, we ask that you do not come into the office and instead schedule a phone visit or virtual meeting.
UPDATE: March 16,2020
Like you all, we are carefully watching the Coronavirus situation. We understand your concerns and we share them. Our clients, potential clients, employees, and communities are our top priorities and at the heart of every decision, we make. We believe it's critical that we do our part to help reduce the transmission of COVID-19. Below you will find the steps we are taking to protect everyone in this continuously-evolving situation.
- We are following the guidance of the Centers for Disease Control and Prevention (CDC) for best hygiene practices.
- Our offices have increased daily cleaning routines, including sanitizing doorknobs and conference rooms and providing hand sanitizer as you walk into the office.
- If you are sick or have come in contact with someone who is sick, please do not come into the office. We can reschedule your visit, do a phone visit, or make other arrangements if necessary.
- We have canceled all in-person speaking events in March. This includes Wine, Wisdom & Food Experiences™, Social Security Workshops, and Estate Planning Lunch & Learns. However, we understand that this information is pertinent so we will be hosting live webinars that you can enjoy from the comfort of your home. Please be on the lookout for an email about this in the coming days.
We will continue to monitor what's going on in our community and bring you important information as we receive it.
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Gregory Ricks and his team can help you toward achieving your financial goals. To learn more about our personalized custom services, schedule a visit today or register for our next live speaking event!