Utah Poised to make a Stong Comeback After COVID

The word is out Utah is poised to make a strong comeback in life after COVID. Utah’s 2 largest economic bases Salt Lake City and Provo made the Moody’s Analytics list of cities that will make a dynamic recovery in a post COVID world. Salt Lake City was already poised pre-COVID as one of the fastest-rising metro areas in the US, and that growth is expected to keep its trajectory. Some of the things that are making Salt Lake so attractive is our young population, and our access to single family housing (which is projected to be more attractive in the future as large population centers were hard hit by the virus). So keep your eyes open it looks like the future is going to be bright!

https://www.forbes.com/sites/laurabegleybloom/2020/05/12/ranked-us-cities-coronavirus-recovery/#3971c3d7de92

https://www.deseret.com/utah/2020/5/15/21257875/pandemic-coronavirus-business-recovery-salt-lake-provo-among-cities-to-best-recover-from-covid-19

Coronavirus should inspire businesses to prepare their supply chains for the future

I found this article insightful and needed I hope that you find it useful as well

https://apple.news/ApBJt0_2cTLKO8JLFNALBYw

Some Good News

Sometimes, and especially in times like these, you just need a little good news. I’m so grateful for people who are doing their best to spread a little good cheer and humor. 

John Krasinski is doing just that with his Some Good News broadcast. In this episode he treats a little 9 year old girl with a personal Hamilton show online. 

Check it out here and then spread a little more good news: 

https://www.npr.org/2020/04/06/828088183/hamilton-cast-reunites-for-emily-blunt-john-krasinski-and-one-lucky-9-year-old

IRS Extends Tax Deadlines

The IRS issued guidance Thursday evening to grant deadline relief for both 1031 like-kind exchanges and opportunity zone investments that are already underway.  Both of these programs are designed to promote economic growth in com­munities, and NAR made the case that investors in these pro­grams should not be harmed due to the effects of COVID-19.

•        1031 Like-kind exchanges.  If an investor has taken the first step of a like-kind exchange by selling the old property, and either the 45-day or the 180-day deadline falls between April 1 and July 15, the deadline has been extended to July 15.

•        Opportunity Zones.  If an investor who sold a capital asset planned to roll over the gain into an Opportunity Fund and the 180-day deadline to do so falls between April 1 and July 15, 2020, he or she can make the investment as late as July 15. 

Also, sole proprietors who pay quarterly estimated taxes now have until July 15 to file their second quarter payment.  As a result of an earlier IRS notice, first quarter estimated tax pay­ments had already been extended to July 15.  This means that any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July 15 to make that payment, without penalty. 

NAR has advocated heavily for these extensions since the outbreak of the COVID-19 pandemic. We’ll have a full analysis of this announcement Friday on our dedicated coronavirus page.

March 2020 the Longest Decade Ever

I am sure that you will all agree with me that the last month has been anything but “Normal” with the virus causing panic, social distancing, extra handwashing and quarantines we are all experiencing a very big deviation in the way we normally conduct our lives. It has also made time seem to stretch into an endless blob where its hard to tell the difference between what day it is and how many have passed. Here at IPG we have been lucky to be able to conduct business in a fairly normal fashion until we were put on a shelter in place order the last week of March. We have been finding new ways to connect with each other and others and are trying to live as normally as possible. I found this chart about dealing with the effects of Covid-19 which zone are you in and how are you helping yourself and your family to calm the panic?