How Investors Are Addressing Racial Injustice

Socially responsible investing has been putting billions of dollars to work for social change for decades. In some cases, the strategy means avoiding certain sectors. Religious organizations, for instance, steer clear of alcohol, firearms, tobacco and other “sin” stocks. Some investors focus on companies that are already socially responsible to help them thrive, while starving […]

Philanthropy Rises in Pandemic as Donors Heed the Call for Help

When the coronavirus prompted states to order residents to stay at home in March, unemployment surged around the country as huge parts of the economy slowed or stopped. Soon after, there were calls for philanthropists, charitably inclined people and even occasional donors to accelerate any giving they were planning to do. They stepped up, it […]

Pandemic Is Expected to Bring More Lawsuits, and More Backers

If there is one thing that is almost always guaranteed in an economic downturn, it’s an increase in litigation. Businesses are going to sue businesses. Tenants are going to sue landlords, who will sue their tenants right back. Insurance companies will contest claims, and start-ups will try to defend their intellectual property from more established […]

Wealth Advisers Torn Over Taking Small-Business Aid

The federal government’s multibillion-dollar aid program to help small businesses hurt by the pandemic prompted outrage after billions went to public companies while mom-and-pop businesses were sidelined. Now, another group of recipients is being scrutinized for taking the money: independent wealth management firms, some of which manage billions of dollars on behalf of affluent Americans. […]

How a Tax Benefit for Developers Could Backfire in the Pandemic

Something remarkable is percolating in the commercial real estate market: Investors may end up losing millions in tax savings on gains from the sale of their properties because of the coronavirus pandemic. Like-kind real estate exchanges, also known as 1031 exchanges (after the provision in the Internal Revenue Code), allow investors to sell a commercial […]

Wealthy Fliers Worried About Coronavirus Turn to Private Jet Service

Commercial air travel has plummeted in the pandemic, but interest in private jet service is surging, particularly among people who have not paid to fly privately before. For years, jet service providers have ferried corporate executives and wealthy leisure travelers who paid high fees for the privacy and security. Now, those same companies are shifting […]

The Pandemic Has Increased Money Anxiety. Therapists Hope to Cure That.

Dale Mackey closed her event space in Knoxville, Tenn., a week before the state issued its orders to end large gatherings. She did not think about the economic ramifications of shuttering her business, the Central Collective; she said it was the right thing to do to reduce the spread of the virus. Work dried up […]

Key to Small Businesses' Survival Is Ability to Adapt

This article is part of Owning the Future, a series on how small businesses across the country are coping with the coronavirus pandemic. Mike Geller spent the better part of a decade tweaking the focus of Mike’s Organic Delivery, which he founded in 2009. Early on, the model was similar to a community-supported agriculture program, […]

When Sheltering in Place Puts Your Tax Strategy at Risk

Lockdowns have disrupted the lives of millions of Americans since March, when states began issuing shelter-in-place orders. For some people, a key part of their residency for tax purposes — their domicile status — may have shifted in that time for a number of reasons: They are now working from home, they’ve fled a hot […]

The Pandemic Has Slowed the Divorce Process. Here’s What to Expect.

When state and local governments announced shelter-in-place orders to slow the spread the coronavirus, predictions that the lockdowns would force a reckoning in bad marriages and lead to a rise in the divorce rate abounded. The forecast has not come to pass, but lawyers are seeing plenty of obstacles for couples who no longer want […]

In Philanthropy, Race Is Still a Factor in Who Gets What, Study Shows

Philanthropy often sets out to mitigate inequality. But a research report set to be released next week by two leading philanthropic organizations shows that race remains a defining factor when looking at which organizations get funded and how much they receive. Nonprofit organizations led by black and Latino executive directors lag behind peer organizations with […]

Denied, Deferred and Ignored: 13 Applications, and No Relief

In 17 years, Graceann Dorse and her husband, Christopher Webb, have built their cinematography and special effects firm, FX WRX, into a significant creative and economic force in New York, navigating natural and financial disasters along the way. They weathered the Great Recession in 2007-9 and Hurricane Sandy in 2012, which wiped out their first […]

‘I Didn’t Want to Shut My Doors’: Businesses Find Ways to Survive

Sitting back, glass of wine in hand, John Kapon, the bespectacled chairman of Acker Merrall & Condit, a 200-year-old shop for fine and rare wines, leads scores of wine lovers in twice-weekly tastings. Taking social-distancing mandates to heart, Mr. Kapon conducts the tastings using the teleconferencing platform Zoom as an extension of his business, a […]

Virus Relief Efforts Give Rise to New Tax Strategies

Adam Schwartz, who runs his family’s 100-year-old manufacturing company with his brother, Hy, has spent a month sifting through tax incentives for their business. At the same time, his wealth advisers have made him acutely aware of the personal tax planning options that the economic downturn has created. Like most small-business owners, Mr. Schwartz said […]