The Internal Revenue Service recently announced anyone, who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts, now has the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver for 2020.
This 60-day rollover period for any RMDs already taken this year has been extended to Aug. 31, 2020, in order to give taxpayers time to take advantage of this opportunity.
Last year you thoughtfully constructed a budget. You painstakingly evaluated your projected income and expenses. You pored over your cash flow projections. You wiled away the hours getting the best snapshot you could of your business in the year to come.
Well, the 4th quarter is here. How did last year’s budget fair? How often did you revisit it? Did you keep it up-to-date?
If you’re like most companies, you probably haven’t touched your budget since you constructed it. Or perhaps you’ve occasionally looked at it to see how you’re doing on your budget vs. actual.
