If you’ve ever seriously considered buying Bitcoin, please read this article. The principles I’ll discuss below also apply to gold, other forms of currency substitutes and any other speculative (non-productive) investments (e.g. precious metals, stamps, baseball cards, etc.). Around the time Bitcoin reached its then price peak of $19,650.01 on December 17, 2017, we received as a firm a record number of calls from clients who wanted to jump on the bandwagon. For reasons I’ll discuss below, we recommended to not buy Bitcoin. The Bitcoin party quickly died as the Cryptocurrency fell into an almost 3-year slumber (in comparison) with prices dipping almost to $3,000 at some points. Our clients dodged a bullet and we got to look smart, for a season. Now that Bitcoin is back, and with more fanfare than ever (peaking today at a staggering $58,194.50), the number and frequency of client inquiries are heating up again. …
Overview On December 27, 2020, President Trump signed the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (aka “EAA”). Among many other things, the EAA created the “Second Draw PPP Loans Program,” (what we’re calling PPP 2.0) which gives you the chance to basically get the same PPP loan again. Since then, the Treasury Department has released additional guidance providing clarification of this loan program, which I cover below. Many of the details and terms of the loan mirror the first round of PPP loans, hence the term PPP 2.0. Who is Eligible? PPP 2.0 is eligible for businesses, sole proprietors, and independent contractors who:
In our previous blog post, we discussed what value investing is and why we have positioned our PFG Portfolios to take advantage of the value premium. For this week’s post, we hosted a webinar to discuss recent trends in the market (including the recent value premium) and what that means for our portfolios. In case you missed it, check out the recording here! PFG Investments Webinar (11/20/20).
In the world of investments, one way to classify stocks is to differentiate between what are known as “growth” and “value” stocks. The difference is this: growth stocks are relatively more expensive than value stocks; in other words, a growth stock means that an investor must spend more upfront to own the same amount of company assets.
On Thursday, May 28, the House of Representatives passed a new bill (417-1 in favor), which will drastically alter the rules and timeline surrounding PPP Loan Forgiveness. While the legislation has not been signed into law yet, we anticipate that a version of it will soon. There may still be changes to the new law before it passes through Senate, but as it stands now, here are some of the major changes:
In this recording, Nate discusses PPP loan forgiveness and answers questions. You can access the full recording here: Webinar Recording – PPP Loan Forgiveness Review with Q&A 2.0 Slide Deck – PPP Loan Forgiveness Webinar (5.21.20)
Nate will be hosting a webinar at 5:15 PM PDT on May 21, 2020. Register for the webinar here. In this webinar, Nate will cover: Principles of PPP Loan Forgiveness Updates from the SBA and Treasury on forgiveness rules Plan and timeline for helping PFG clients apply for forgiveness Please be sure to register and come prepared with any questions you have!
A month ago, we published our blog post “PFG’s Employment Guide During COVID-19 Crisis.” At the time, offices across the country were shutting down. Now, after a month in hibernation, dental practices are slowly beginning to reopen, bringing a whole new set of questions and concerns. First, let me disclaim the obvious: we are not HR specialists. On our team, we have eight CPAs but not one CPA-level organizational behavior person. Fortunately, there are many smarter than me in this area who are sharing a lot of good information and ideas on the topic of human resources.
In this webinar, Nate discusses the PPP Loans and gives guidance regarding the timing and strategy of utilizing this benefit. See the full webinar by following the link below (the content of the presentation starts at about 3 minutes and 30 seconds into the video): Webinar Recording – PPP Loan Update and Q&A Slide Deck – PPP Loan Updates
With each passing day we learn more info about this “New COVID-19 World Order” that we live in. Our hope is to be as helpful to you as we can during this time. Here are some additional thoughts to share that we hope will be helpful: What should I do? Financial principles don’t change; the application of those principles – the strategy you should employ – will depend upon your circumstances. Some of our clients continue to operate their practices and don’t plan – at least for now – to shut down. If you’re open for business as usual, keep going as long as you can. Even in these circumstances, we recommend caution against the day when you do get shut down. But if your office is shut down, you’re in a completely different camp and you should employ an emergency cash strategy. The rest of this email is directed …