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Protecting Yourself in the Digital Age
October is Cyber Security Month! In the digital age, Cybersecurity has become just as important as portfolio diversification or retirement planning. Cyber threats are constantly evolving, and individuals—not just corporations—are frequent targets. As your trusted advisor we believe it is prudent to review cybersecurity best practices and provide an update on new threats to help keep your accounts and personal data secure.
Financial fraud doesn’t always begin with stolen credit cards. Hackers often attempt to access bank accounts, investment accounts, and even tax records. While institutions, corporations, and government entities spend billions of dollars on cyber security hardware and software, the most vulnerable entry point often comes down to an individual’s personal device(s) and online practices.
Dissecting the ‘One Big Beautiful Bill’
Earlier this month, on July 4th, President Trump signed into law the ‘One Big Beautiful Bill’. The largest bill of its kind since the TCJA bill in 2017, this will have sweeping impacts on many government areas including immigration, federal budgetary restrictions, Medicaid, and personal income taxes.
This has been a hotly contested bill, and both sides of the aisle have argued strongly for and against some of these changes. We aim to avoid any political bias but felt it was important to discuss the key impacts this bill will have, specifically on personal finances and taxes.
With many of the changes to this bill, the answer to how this could impact you is, as always….’it depends’.
What Happens to an ESOP When Sold?
Employee Stock Ownership Plan (ESOP) is a common way small and midsized companies compensate their employees. ESOP owned companies have a long track record of being employee centric, lower rates of layoffs, and fewer corporate changes.
That being said, employee-owned companies can be purchased by external buyers (competitors, private equity firms, etc.). Check out this article to discover some possible outcomes.
Fair & Balanced Disclosure: The content of this page should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of writer as of the date of publication and are subject to change. This content herein does not constitute personalized advice from Westview or its investment professionals, or a solicitation to execute specific securities transactions. Westview is not a law or accounting firm and does not intend for any content to be construed as legal, accounting, or tax advice. Readers should not use any of this content as the sole basis for any investment, financial planning, tax, legal, or other decisions. Rather, visitors should consult their other professional advisers (including their lawyers and accountants) and consider independent due diligence before implementing any of the options directly or indirectly referenced. Past performance does not guarantee future results. All investment strategies have the potential for profit or loss, and different investments and types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment or investment strategy, including those undertaken or recommended by Westview, will be profitable or equal any historical performance level.
Posted in May 2023, this article guides you through SECURE Act 2.0 and how it stands to impact retirement.