Weekly Digests

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

IRS relief now available for individuals and businesses impacted by Hurricane Debby

The Internal Revenue Service announced tax relief for individuals and businesses in four states affected by Hurricane Debby.

SBA Announces $7 Million in PRIME Grants to Support Micro-entrepreneurs

The SBA PRIME grants program offers funding to nonprofits to support disadvantaged entrepreneurs. Eligible organizations can apply to help low-income individuals or small business owners lacking access to capital. The program aims to foster development, education, and training to enhance business growth and financial literacy.

Reason to Panic? The Global Stock Market Plunge, Explained

Last week the Dow Jones Industrial Average dropped by 1,000 points before recovering slightly on fears the U.S. economy was weakening and a series of other concerns combined to throw investors worldwide into a panic.

Startup Pairs New Homebuyers with Angel Investors to Secure Homes Fast and Help Them Build Equity

Startup Rhove pairs new homebuyers with angel investors to quickly secure homes. Buyers get a stake in a trust, building equity without a traditional mortgage. This innovative approach aims to make homeownership more accessible and help buyers invest in their future while circumventing financial barriers.

What the Fed rate decision means for bank accounts, CDs, loans, and credit cards

The Federal Reserve’s rate hike impacts various financial products. Savings accounts and CD rates may rise, benefiting savers. Borrowers could face higher costs for loans and credit card debt. Consumers should assess their finances and consider locking in rates or paying down high-interest debt to mitigate effects.

Multi-factor authentication: Key protection to tax professionals’ security arsenal now required

Your taxes are getting more secure. The IRS now requires tax professionals to use multi-factor authentication (MFA) to protect their online accounts and sensitive data. This security measure adds a critical layer of protection against cybercriminals, ensuring that stolen credentials alone are not enough to access sensitive information.

Should you use a credit card cash advance in an emergency?

Credit card cash advances can provide emergency funds but come with high costs, including upfront fees and interest rates. It’s essential to understand the terms and consider alternatives like personal loans or borrowing from friends before opting for a cash advance to avoid long-term financial consequences.

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