On March 11, the novel coronavirus (COVID-19) was officially declared a global pandemic by the World Health Organization, and two days later President Trump declared a national emergency.1 The unknowns surrounding a new virus make it difficult to predict the potential human and economic toll, but unprecedented steps are being taken to help slow the spread […]
Read MoreUpdates
Weekly Update as of market close April 3, 2020
Stocks continued to rally at the beginning of last week amid hopes of enhanced testing for COVID-19. But by the end of the day Wednesday stocks slid, with the S&P 500 and Nasdaq posting their largest single-day declines since March 18. Energy shares in particular were hit hard. The Dow fell 4.4% and the small […]
Read MoreCARES Act Provides Relief to Individuals and Businesses
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This $2 trillion emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. Major relief provisions are summarized here. Unemployment provisions The legislation provides for: An additional $600 […]
Read MorePaycheck Protection Program (PPP) Information -APPLY NOW
Many TCK clients are business owners or it’s probably safe to say everyone knows a business owner who could use this information. Please follow the links to learn more about forgivable loans to small businesses (less than 500 employees) to pay their employees during the COVID-19 crisis. Business owners are encouraged to start a conversation […]
Read MoreWeekly Update as of market close March 27, 2020
Stocks opened the week as they closed the previous one — in a tailspin. However, aggressive moves by the Federal Reserve late in the day, coupled with the hope of a massive aid package from Congress, helped push stocks higher during early trading Tuesday. News of the passage of massive stimulus legislation (see below) was […]
Read MoreThe Trust Company of Kansas’ COVID-19 Response
The Trust Company of Kansas (TCK), like other businesses, is reacting to the rapidly evolving reality surrounding the COVID-19 global pandemic. TCK falls under the ‘essential business’ definition as a ‘financial institution’ under the stay-at-home orders currently affecting its office locations. TCK will continue to provide services to our clients and the communities we serve. […]
Read MoreDue Date for Federal Income Tax Returns and Payments Postponed to July 15
Due to the coronavirus pandemic, the due date for filing federal income tax returns and making tax payments has been postponed by the IRS from Wednesday, April 15, 2020, to Wednesday, July 15, 2020. No interest, penalties, or additions to tax will be incurred by taxpayers during this 90-day relief period for any return or […]
Read MoreWeekly Update as of market close March 20, 2020
Following the Fed’s latest interest rate cut last weekend, stocks opened markedly lower on Monday, prompting the third circuit breaker in the last six sessions as trading was halted only seconds after the opening bell. By midmorning on Monday, the Dow had lost 8.5%, the S&P 500 slid 7.7%, and the Nasdaq fell 7.8%. By […]
Read MoreDO THE RIGHT THING
Now is not the time to sell quality equities. The S&P 500 index closed down 30% from its all-time high just 18 trading days ago. At the same time, it is worth remembering that Monday’s low close was 253% above the Great Recession low on March 9, 2008. Investors need to stay focused on their […]
Read MoreWeekly Update as of market close March 6, 2020
While it apparently took a day to take effect, the Fed’s decision to reduce the target range for the federal funds rate by 50 basis points quelled the massive rush to sell stocks and brought some investors back to the market. Following losses earlier in the week, the benchmark indexes surged with the Dow gaining […]
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