Covid-19 – Williams Financial Services

COVID-19 RESOURCES

Videos and Articles

Ask Kevin Anything - Episode One

In this inaugural installment of Ask Kevin Anything (AKA), we discuss real tax strategies and solutions for those affected by the COVID-19 crisis. Join Kevin as he explains the consequences of the Tax Cut and Jobs Act and its effects on employees incurring work-from-home expenses.

Not only will your tax knowledge benefit from participation in AKA; you’ll also be helping a family in need. For each answered question, we will donate to a local food pantry or other charitable organization. Submit your question for a future segment at https://kqwilliamsfinancial.com/videos/#aka

Minimize Your Covid-19 Tax Burden

Through a fiscal and monetary policy response to the Covid-19 pandemic, the federal government has added 4.5 trillion dollars to the national debt. This addition could potentially raise your personal tax liability by as much as $28,000! With 30 years of experience and a comprehensive view of the taxation landscape, Kevin Williams can help you navigate this new normal and keep more of what you make.

Navigating the “New Normal” Post COVID-19

Everyone likes to have a plan, but unexpected challenges, like the COVID-19 pandemic, call for flexibility and creative problem solving. With strong qualifications in the areas of finance and taxation, Williams Financial Services can help you navigate this new normal, protect your assets, and achieve wealth success.

Cares Act – Part 1

In light of the severe market disruption and economic impact of the COVID‐19 pandemic, we are monitoring the developments of the government's response and communicating with individuals, families, and, small businesses. Due to the massive stimulus package, we are going to provide narratives on parts of the legislation. Today, we want to discuss the stimulus checks being provided to individuals and families.

Before we get started, I want to throw a caveat out there. This massive piece of legislation was put together in a matter of weeks. For comparison purposes, the Tax Cut and Jobs Act ...

Cares Act – Part 2

This is the second part in a series regarding the CARES Act. The first segment discussed the tax credit orrebate check that is being sent to qualifying individuals and families. The following is a discussion of theimpact of CARES Act on the retirement accounts.

The CARES Act focused a lot of attention on retirement accounts into 3 major areas: Coronavirus‐RelatedDistributions, Enhancements to Loans from employer‐sponsored retirement plans, and waiver of requiredminimum distributions in 2020.

Coronavirus‐Related Retirement Distributions. For those taxpayers impacted by the Coronavirus...

Cares Act – Part 3

Before we start the discussion of the 3rd segment as it relates to charitable contributions under theCARES Act, I want to discuss the extension of the April 15th deadline.

Personal Income Tax Extensions related to COVID‐19As you have probably heard, the IRS has automatically extended the Personal Income tax filingdeadline by 90 days to July 15, 2020. This is for the filing of tax returns and the payment of incometaxes due for 2019. If you did not pay enough income tax during 2019, either through withholding orthrough estimated tax payments, there will not be a late payment penalty if th...

Cares Act – Part 4

Caution: As I eluded to in the first segment, this interpretation of the CARES Act is a fluid situation, atbest. Based on subsequent articles, we are concerned that you may not be able to return unwantedRequired Minimum Distributions (RMDs) that were received more than 60 days ago. I have contacted ourtop three custodians in order to get their interpretation because it is their interpretation that ultimatelymatters. We will let you know as soon as we hear back.

We are now on the fourth segment in our series of discussions regarding the CARES Act. This portion ofthe Act may be the most b...

Helpful Tools

Financial Operating Manual – you know where your financial accounts are held and how to access them, but do your loved ones? If something happens to you how will your loved ones know what you have or where to access it?

That’s where our Financial Operating Manual comes into play. Download yours today and leave a roadmap for your family.

Insurance Summary and Review Roadmap – a supplemental form to the Financial Operating Manual. Our Insurance Summary helps you keep all the pertinent data of your insurance in one place.

Trusted Contact – if you’re a client, make sure to update your “trusted contact” on file. Simply email us here.

Binder – as you collect all your important financial information, you need a place to keep it all together. Our binders are the perfect solution. Just email us by clicking here, and we’ll send one your way.

Stress Relievers

John Krasinksi (from The Office) has created a new YouTube channel celebrating Good News

The Shows Must Go On is a YouTube channel showing full-length Broadway performances every Friday for just 48 hours.