How to Avoid Tax Penalties on Your 529 Refund

Did you or your child receive a refund from college?  If so, that refund could be subject to taxation and a 10% penalty. The IRS could consider this refund as no longer being used for Qualifying Education Expenses.  This refund would then be recharacterized as a taxable distribution. In order to avoid this, consider recontributing the refund back into the 529 plan. [...] Continue reading

Markets Don’t Wait

There were two distinct phases to the first quarter. The first was characterized by an equity market surging to all-time highs. This phase quickly faded into what seems like a distant memory following the emergence of COVID-19 as a global pandemic, largely shutting down the global economy. Financial markets were derailed as investors attempted to assess the extent and[...] Continue reading

Fort Pitt In the Community – Helping Pittsburgh’s First Responders

One of Fort Pitt Capital Group’s financial advisors is proud to sit on the board of directors for Pittsburgh Emergency Medicine Foundation (PEMF). PEMF’s was founded in 1985 with the mission to assist first responders. Now more than ever, it is dangerous for first responders (paramedics, EMT, police, firefighters, ER Doctors & nurses) to be in the field. COVID-19[...] Continue reading

The CARES Act: Questions & Answers

Right now, there are a lot of unknowns about COVID-19 and its ultimate impact, and we hope that you and your loved ones are staying safe and healthy. With so many questions, we wanted to shed light on the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and answer specific questions we’ve been getting in regard to the changes that are in effect due to this[...] Continue reading

Understanding Negative Interest Rates

We’ve been hearing a lot of talk about negative interest rates this past week. In times of extreme stress, financial markets behave in extraordinary ways. The more volatile the stock market, for example, the more difficult it is to find rational buyers and sellers. Today we’re seeing these same distortions in the U.S. Treasury bond market. Due to extreme imbalances[...] Continue reading