Our Company News
Coronavirus Stimulus Package – Paycheck Protection Loans Available Now
April 3 is the opening day for small businesses to apply for the Paycheck Protection Loans (“PPLs”), authorized by the CARES Act, through authorized Small Business Administration (“SBA”) lenders. Remember, that these are loans that may be forgiven if certain...
IRS Guidance on Employee Retention Credits
Many of our small business owners, as well as their employees, have been adversely impacted by COVID-19. The CARES Act promises incentives and relief for keeping workers on the payroll during these tough times. The IRS recently issued guidance in the form of questions...
Coronavirus Stimulus Package – IRS Information on Economic Impact Payments
Much of America is anxiously awaiting the assistance promised by the CARES Act, in particular the individual rebate payments (officially called the economic impact payments). The IRS recently issued guidance in the form of questions and answers about these payments,...
The Stretch IRA and the SECURE Act
(Binghamton, NY • March 13, 2020) The SECURE Act, signed into law on December 20, 2019, offers much to IRA and 401(k) investors: Required Minimum Distributions (“RMDs”) delayed until age 72; elimination of the age limit for contributions to a traditional IRA, and...
Planning for the Qualified Business Income Deduction
Episode 62 – The Section 199A deduction is complex, but for many successful pass-through business owners, there are strategies to help qualify for the deduction. Your Security Mutual life insurance advisor can help you plan to meet the income thresholds of the law. Continue Reading Planning for the Qualified Business Income Deduction
Why Your Business Needs Key Person Insurance
Episode 61 - As a business owner, you insure your inventory, equipment and vehicles. Yet you may not be insuring your most valuable assets. Those are your key employees who help you operate, manage and generate revenue for your company. Key person...
Security Mutual Life Announces Company’s 2019 Results
(Binghamton, NY • February 21, 2020) Security Mutual Life recorded strong sales, earnings and capital growth in 2019, further enhancing the Company’s financial strength. Highlights of the past year include: Dividends: 127 consecutive years of paying dividends to...
Stretch IRA Substitute
Episode 60 – The SECURE Act eliminated the use of the “stretch” IRA, but there may be a way to replace that lost wealth and accomplish a similar goal by using the combination of a life insurance trust and a Single Premium Immediate Annuity. Learn more here. Continue Reading Stretch IRA Substitute