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Explore: What the Coronavirus Means for Markets

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What the Coronavirus Means for Markets

Updated February 24, 2020
Originally Posted on February 10, 2020

The current Novel Coronavirus, with over 75,000 cases and 2,600 deaths, has grown into a major health issue with a greater scope than the SARS outbreak of 2002 & 2003.  Beyond the obviously tragic human toll, the virus’s spread has caused significant anxiety for financial markets as well. 

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Key Provisions of the CARES Act

Recently, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.1

To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.1

The CARES Act has far-reaching implications for many. Here are some important provisions to keep in mind:

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Condor Capital’s Ken Schapiro Listed in Barron’s Top 1,200 Advisors Ranking for 2020

Condor Capital Management is pleased to announce that our president, Ken Schapiro, has been selected in Barron’s Top 1,200 Advisors Ranking. He is currently #31 in the state of New Jersey for 2020. This marks the fourth consecutive year he has attained this prestigious honor.

“I’m honored to be selected again by Barron’s. We are always working harder to improve our client service, and these kinds of results show that our efforts are paying off,” said Schapiro. “We’ll keep striving higher. At Condor, it has always been a team effort, and my entire staff deserves credit for all the work they’ve done.”

In this year’s especially competitive application process, data was provided by around 4,000 advisors across the nation to evaluate top advisors by state. As per Barron’s report, various factors that are taken into consideration for the rankings include: assets under management, revenue generated for the firm, regulatory record, quality of practice, and philanthropic work. With these metrics, Barron’s is able to pinpoint those who provide excellent levels of service to provide a comprehensive directory of trustworthy advisors for clients who may be seeking assistance in investing, financial planning, and other services.

For Ken Schapiro’s directory listing on Barron’s, please click here.

Founded in 1988, Condor Capital Management is an employee-owned, SEC-registered investment advisor based in Martinsville, N.J. employing 20 professional and support staff.  Since Condor is a fee-only investment management firm, its fees are based on portfolio size, not sales commissions or number of trades. As a true fiduciary, Condor is always working in a client’s best interests and utilizes an integrated approach to investment management that includes thorough financial planning advice on a complimentary, as-needed basis.

For more information on Condor Capital Management, please visit https://www.condorcapital.com or call 732-356-7323.

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Condor Capital Management Selected by NJBIZ for Best Places to Work in NJ Award for 2020

We are pleased to announce that Condor Capital Management has been chosen this year for NJBIZ’s Best Places to Work in New Jersey award as part of the “small company” category. This marks the eighth year we have qualified for placement in this prestigious list. To view the full list of winners, please click here.

Through a program that conducts confidential surveys of employees, NJBIZ gathers feedback on different employers to offer insights into the most well-liked workplaces in the state. This data is used to analyze various facets of each company, including but not limited to employee benefits, work-life balance, salary, and culture. These factors are all taken into consideration in generating a list of top-ranking employers.

“We take pride in fostering a positive environment that allows our employees to be fully engaged and fulfilled in their work. If you asked anyone in our team, I think you would hear the same thing,” said Chief Compliance Officer Michael Walliser. “It’s important to us that we provide our clients with the best possible service, and to achieve that, it’s also important to make sure our people are happy with what they do. We’re honored to be recognized by NJBIZ this year.”

Founded in 1988, Condor Capital Management is an employee-owned, SEC-registered investment advisor based in Martinsville, N.J. employing 20 professional and support staff.  Since Condor is a fee-only investment management firm, its fees are based on portfolio size, not sales commissions or number of trades. As a true fiduciary, Condor is always working in a client’s best interests and utilizes an integrated approach to investment management that includes thorough financial planning advice on a complimentary, as-needed basis.

For more information on Condor Capital Management, please visit https://www.condorcapital.com or call 732-356-7323.

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A Guide for the 2020 Tax Season

In this guide, we’ll explore ways to help you prepare for the upcoming tax season.

Keep in mind, this guide is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your strategy.

April 15, 2020 is the deadline the Internal Revenue Service sets for filing your 2019 tax returns. If you believe you will miss that deadline, you should consider filing for an extension.

Here’s a quick summary of the major changes for 2019:

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Five Red Flags That Raise the Odds of an Audit

The IRS audited about 1 million tax returns in fiscal year 2018, and nearly 75% of those examinations were conducted entirely through correspondence.1 Taxpayers selected for an official audit are notified by mail.

Confusing matters, the IRS also mails other types of compliance notices, which may propose additional tax based on math errors, the automated detection of underreported income, or other factors. The National Taxpayer Advocate calls these notices “unreal” audits, because the IRS doesn’t count them as audits. But their impact is real — so the frequency and effectiveness of IRS compliance contacts are somewhat understated. About 8.5 million taxpayers experienced “unreal” audits during fiscal year 2016, and if they were included the audit rate would jump from 0.7% to more than 6.0%.2

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Tax Considerations for Retirees

The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive.

At age 65, the Internal Revenue Service gives you a larger standard deduction. For 2020, standard deductions look like this for taxpayers 65 and older: single filer or married filing separately, $14,050; head of household, $20,300; married filing jointly or qualifying widow(er), $26,100 (when one spouse is 65 or older) or $27,400 (when both spouses are 65 or older). The standard deductions for younger taxpayers range from $1,650-$2,600 less.1

There are two situations where your standard deduction may be limited at age 65 or older, or disappear entirely. One is when another taxpayer claims you as a dependent. The other is when you are married and filing separately, and your spouse itemizes deductions.1

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Key Retirement and Tax Numbers for 2020

Every year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans and various tax deduction, exclusion, exemption, and threshold amounts. Here are a few of the key adjustments for 2020.

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