What To Do With $1,000? Advisors Debate Government Stimulus Checks
Charles Sachs of Kaufman Rossin Wealth spoke to WealthManagement.com about the government’s plan to provide $1,000 in relief for each American to aid in the crisis caused by COVID-19.
Article Excerpt: For those most affected by job loss and income evaporation, precipitated by the novel coronavirus pandemic, true uncertainty lies in how long the “national holding pattern” extends, said Charles. “This is a stopgap for sure,” he said. “I would suspect this will be taxable income and, if so, one would be on the hook for that.” The longer the crisis drags on, the less meaningful the check would become, he added.