Personal Finance News

The CARES Act, which was signed into law on March 27, 2020, provided much-needed economic relief to businesses and employees affected by the COVID-19 pandemic. One of the CARES Act's key components was the Paycheck Protection Program (PPP), which offers forgivable loans to small businesses so that they can make their payrolls during the pandemic. However, the CARES Act included a number of restrictions that have hampered the effectiveness of the program.

But now there's some good news for small business owners: President Trump signed the Paycheck Protection Program Flexibility Act (PPPFA), which gives borrowers additional time and flexibility to use PPP loan proceeds. The legislation zipped through Congress with bipartisan support, and there's high hopes that the PPPFA will provide an additional boost for small businesses trying to claw their way out of the pandemic-induced economic crisis.

We've listed 7 of the most significant changes from the PPPFA. Read on to see how your business might benefit from the improvements.

Read more: https://www.kiplinger.com/slideshow/business/T049-S010-how-ppp-loans-just-got-better/index.html

Every year, Costco attracts droves of new members looking to score bargains on everything from personal care products and paper towels to fresh and frozen foods in bulk. Exclusive perks such as deeply discounted gasoline prices, deals on big-ticket electronics and appliances, and access to coveted Kirkland Signature store-branded items are among the major draws of membership to the warehouse club. While these incentives are, indeed, used to reward card-carrying Costco members, many of them are also designed to get shoppers to spend more.

We asked several shopping experts to reveal various methods the warehouse club uses to entice members to shop more frequently and impulsively. The retail pros also offered advice on how to avoid these spending traps that often ensnare newer members. Here's what they had to say.

Read more: https://www.kiplinger.com/slideshow/spending/T050-S001-costly-costco-mistakes/index.html

Read more: https://www.kiplinger.com/article/investing/T038-C008-S001-stock-market-today-june-5-2020-jobs-dow-nasdaq.html

The brave veterans who stormed the beaches of Normandy, landed at Inchon, and fought in the jungles of Vietnam are senior citizens now. And many of them are living off military pensions. Are those pension payments taxed? The federal government taxes military retirement pay that's based on age or length of service (disability pensions might not be taxed). With state taxes, though, it isn't always so clear.

Many states provide special tax breaks for military retirees or for retirement income in general. And, of course, some states don't even have an income tax. But some other states aren't so generous when it comes to helping retired veterans at tax time.

We've identified 9 states, and Washington, D.C., with not-too-friendly income tax rules for military pensions. These states may tax at least part of a veteran's pension, and some tax the entire amount. We've listed the least tax-friendly of these states first. Take a look.

Read more: https://www.kiplinger.com/slideshow/retirement/T055-S003-least-tax-friendly-states-for-military-retirees/index.html

Read more: https://www.kiplinger.com/article/retirement/T047-C022-S002-don-t-let-covid-19-derail-your-retirement.html

Read more: https://www.kiplinger.com/article/retirement/T047-C000-S003-the-wage-gap-persists-into-retirement.html

Read more: https://www.kiplinger.com/article/investing/T001-C000-S002-employers-cutting-401-k-matching-contributions.html