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CBM Communicator

September 1, 2021

Joint Ownership: Estate Planning Do or Don’t?

Estate planners often tout the virtues of owning property jointly — and with good reason. Joint ownership generally offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate planning concern. You must also be aware of all the implications. Title Wording Matters – Joint Ownership in Estate Planning Joint ownership requires interests in property by more than one party. The type of joint ownership depends on the wording of the title to… Read more ›

September 1, 2021

Don’t Short-Change Your Future By Cashing Out Your 401(K)

If you’re looking for money to buy a new car or pay off some bills, your 401(k) plan may seem like a pot of untapped gold. The temptation to tap your retirement funds often comes when you switch jobs and must decide how to handle your account. But in most cases, breaking into a retirement plan early is a mistake that will just melt away your savings. Unfortunately, many people make the unfortunate decision to “cash out” their retirement accounts… Read more ›

August 30, 2021

SBA Streamlines Forgiveness for Smaller Paycheck Protection Program Loans

The Small Business Administration (SBA) has released new guidance intended to expedite the forgiveness process for certain borrowers under the Paycheck Protection Program (PPP). The simplified process generally is available for loans of $150,000 or less, which the SBA reports account for 93% of outstanding PPP loans. The guidance comes at a time when many borrowers are nearing a critical deadline regarding their applications for forgiveness. Forgiveness basics PPP loans generally are 100% forgivable if the borrower allocates at least… Read more ›

August 17, 2021

Home Office: Collect a Tax Windfall

Today’s technology has made working from home a reality for many people. These individuals and their companies enjoy the benefits of reduced overhead and no commuting hassles. Another bonus: The IRS issued regulations on home sales that provide an unexpected tax bonanza for people who work out of their homes. Under the home sale exclusion law, you can pocket up to $250,000 of tax-free capital gain from a sale of a home ($500,000 for joint filers). To qualify, you must… Read more ›

August 17, 2021

Lowering the Bar on Performance and Payment Bonding

Acquiring or increasing your firm’s bonding capacity can open a whole new market of jobs. It can allow you to take on a multitude of public works projects or larger, more profitable, higher-profile private jobs that require a more hearty bonding capacity than what you, or your agent, are used to. The traditional method of laying out up to 20% of the bond value in cash collateral may be uncalled for if you approach your agent in the right way… Read more ›