Understanding the New CARES Act

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law. The CARES Act has been enacted as a direct response to the COVID-19 pandemic and is intended to provide immediate and ongoing economic relief to individuals and businesses affected by the crisis.

Click here to view a summary of these key provisions relating specifically to individuals and small businesses.

Key components include direct payments of $1,200 to adults and $500 to children for qualifying households, removing the required minimum distribution (RMD) requirement for 2020, increasing the unemployment insurance benefit, eliminating required payments on certain student loans, and numerous provisions to support small businesses and self-employed individuals.

In the coming weeks, your Wealth Advisor will be in touch with you to review these provisions as they related to your specific situation. As always, please be in touch with us if you have any questions in the meantime.

Stay safe and healthy,

Benjamin W. Jones, CFP®, AIF®
CERTIFIED FINANCIAL PLANNER™
President, Chief Investment Officer, Principal
(941) 365-3745
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