CARES Act: What's in the Coronavirus Stimulus Package - 268

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 7 April 2020

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Recovery rebates, new rules for retirement account distributions, stimulus checks for those on Social Security & unemployment benefits. Plus, should a listener invest his forbearance, buy foreclosures, and capitalize on the financial crisis? We also get into the cash-on-cash math for rental real estate and potential property tax deduction changes for Californians under a revised Prop 13. Send in money questions, read the transcript & access free financial resources in the show notes: http://bit.ly/YMYW-268

Transcript

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0:00.0	Today on Your Money, your wealth, we're diving into the new CARES Act coronavirus stimulus package.
0:05.6	What distributions can be taken from retirement accounts, the recovery rebates, stimulus checks for those on Social Security,
0:12.5	and unemployment benefits for self-employed and 1099 contractors.
0:16.6	Plus, a listener asks whether he should invest his forbearance and by foreclosures to capitalize on the financial crisis.
0:23.9	And we get into the cash on cash map for rental real estate and potential property tax deduction changes for Californians under a revised Prop 13.
0:32.3	I'm producer Andy Last, and here are the hosts of Your Money, Your Wealth, Joe Anderson, CFP, and Big Alclopine CPA.
0:40.6	It's been a wild, wild ride here. I don't know, I guess the past month, month and a half,
0:47.4	it seems like, anyway. And this month feels like years. The days just seem to drift for months.
0:54.4	It does.
0:55.4	And I know this is, it's a lot of hardship for a lot of people.
0:58.9	A lot of folks are suffering.
1:00.2	A lot of folks have loved ones that are sick or you're sick.
1:04.1	And our heart goes out to you.
1:06.4	We obviously wish you the best.
1:09.2	But let's all try to hang in there the best we can.
1:12.2	We'll get back to normal someday, just a matter of when.
1:15.7	A lot of questions are coming in for the CARES Act that was just signed.
1:20.1	So, Al, what do you think?
1:21.0	We'll just kind of dive right in.
1:22.9	Let's do it.
1:23.8	All right.
1:24.7	So we got Terry from Minneapolis.
	...

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