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David JC Cutler

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David JC Cutler

A Personal Blog
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Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed

KEY POINTS Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer,… Read More »Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed

Two Key Gauges of US Economic Activity Diverged in First Quarter

The government’s two main measures of US economic activity diverged in the first quarter, with one gauge painting a picture… Read More »Two Key Gauges of US Economic Activity Diverged in First Quarter

Fed officials less confident on the need for more rate hikes, minutes show

Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing… Read More »Fed officials less confident on the need for more rate hikes, minutes show

Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle

KEY POINTS Even as inflation cools, consumers still show signs of strain. As of April, the share of adults feeling stretched too… Read More »Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle

Citi Says Buyers Plow $21 Billion Into US Stocks

Investors are boosting their bullish bets on US equities, making positioning increasingly “one-sided,” according to Citigroup Inc. strategists. Market participants… Read More »Citi Says Buyers Plow $21 Billion Into US Stocks

Women need financial freedom to ‘live on their terms,’ advisor says. These 3 strategies can help

KEY POINTS When it comes to managing money, women face unique challenges. Women tend to live longer than men, which means they need… Read More »Women need financial freedom to ‘live on their terms,’ advisor says. These 3 strategies can help

Saving for Retirement Isn’t Enough: You Need a Wealth Plan

Imagine boarding a plane for a long-awaited retirement vacation in Hawaii. Before takeoff, the captain announces the crew is fairly… Read More »Saving for Retirement Isn’t Enough: You Need a Wealth Plan

How to Retire in 5 Years

Preparing for retirement is something most adults will do their entire working lives, but ensuring a successful post-retirement life has… Read More »How to Retire in 5 Years

Americans Remain Discouraged About Personal Finances

WASHINGTON, D.C. — Americans remain guarded about their personal finances, with the majority (55%) saying their financial situation is “only… Read More »Americans Remain Discouraged About Personal Finances

Nasdaq 100’s Big Recovery Faces a Key Tipping Point

Eighteen months since the start of a near year-long selloff, the Nasdaq 100 Index has recovered half the losses that… Read More »Nasdaq 100’s Big Recovery Faces a Key Tipping Point

IRS flagged more than 1 million tax returns for identity fraud in 2023

KEY POINTS The IRS flagged more than 1 million tax returns for potential identity theft during the 2023 tax season, according to… Read More »IRS flagged more than 1 million tax returns for identity fraud in 2023

The ‘Sunday scaries’ every day? Why 87% of employees dread work

Work isn’t necessarily supposed to be fun, but should it be causing employees so much emotional distress?  According to a new report by… Read More »The ‘Sunday scaries’ every day? Why 87% of employees dread work

Fed faces a long battle to trim inflation to its 2% target

Economists and policymakers are bracing for a long and rocky road back to the US Federal Reserve’s target of 2… Read More »Fed faces a long battle to trim inflation to its 2% target

Repelled by high car prices, Americans are holding on to their vehicles longer than ever

ANN ARBOR, Mich. (AP) — With new and used cars still painfully expensive, Ryan Holdsworth says he plans to keep… Read More »Repelled by high car prices, Americans are holding on to their vehicles longer than ever

Americans’ debt surpasses $17 trillion for the first time

Minneapolis (CNN) — Americans’ debt levels continue to climb to new heights at a time when economic conditions are becoming increasingly less stable.… Read More »Americans’ debt surpasses $17 trillion for the first time

Here’s how much emergency savings you need amid economic uncertainty, according to financial advisors

KEY POINTS An emergency fund is a key piece of your financial plan, especially amid economic uncertainty. But the right amount of cash… Read More »Here’s how much emergency savings you need amid economic uncertainty, according to financial advisors

Plunging Tax Revenue Accelerates Debt-Ceiling Deadline

Wall Street and Washington got jolted this month by government warnings that the U.S. could become unable to pay all… Read More »Plunging Tax Revenue Accelerates Debt-Ceiling Deadline

Preparing for the Next Recession: Six Considerations for Retirees

Just like spring and summer always lead to fall and winter, we know winter is coming and another recession is on the… Read More »Preparing for the Next Recession: Six Considerations for Retirees

IRS backlog lessens; agency plans to resume collection notices

The IRS, which spent the pandemic years mired in backlogs of mail, said this week that it has processed all… Read More »IRS backlog lessens; agency plans to resume collection notices

Workers Are Happier Than They’ve Been in Decades

Job satisfaction hit a 36-year high in 2022, reflecting two effects of the tight pandemic labor market: The quality of jobs… Read More »Workers Are Happier Than They’ve Been in Decades

Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease

KEY POINTS Wholesale prices rose less than expected in April, according to a Labor Department report Thursday that provides more… Read More »Wholesale prices rose just 0.2% in April, less than estimate as inflation pressures ease

Inflation rate eases to 4.9% in April, less than expectations

KEY POINTS A widely followed measure of inflation rose in April, though the pace of the annual increase provided some… Read More »Inflation rate eases to 4.9% in April, less than expectations

Factbox: U.S. corporate bankruptcies at highest level since 2010

(Reuters) – U.S. companies are feeling the heat of decades-high interest rates and sticky inflation, with several filing for bankruptcy… Read More »Factbox: U.S. corporate bankruptcies at highest level since 2010

Earnings season: Low expectations make it like getting ‘9th place ribbon’ says analyst

Corporate results this quarter have mostly outpaced expectations, but accusations of so-called ‘sandbagging’ remind one strategist of an early 2000s… Read More »Earnings season: Low expectations make it like getting ‘9th place ribbon’ says analyst

Powell’s Bet Against Recession Looks Good — Minus the Credit Crunch and a DC Standoff

Federal Reserve Chair Jerome Powell reckons the US economy can skirt recession. But the odds are stacked against him —… Read More »Powell’s Bet Against Recession Looks Good — Minus the Credit Crunch and a DC Standoff

Fed recap: Here are Chair Powell’s market-moving comments after the latest rate hike

The Federal Reserve raised interest rates by a quarter of a percentage point, bringing the benchmark funds rate to 5%… Read More »Fed recap: Here are Chair Powell’s market-moving comments after the latest rate hike

Fed Set to Raise Interest Rates to 16-Year High and Debate a Pause

Federal Reserve officials are on track to increase interest rates again at their meeting this week while deliberating whether that… Read More »Fed Set to Raise Interest Rates to 16-Year High and Debate a Pause

Treasury’s Yellen says US could default as soon as June 1

WASHINGTON (AP) — Treasury Secretary Janet Yellen notified Congress on Monday that the U.S. could default on its debt as… Read More »Treasury’s Yellen says US could default as soon as June 1

IRS returns to in-person public hearings; telephone still an option

With COVID-19 no longer considered a national emergency, the IRS will return to in-person public hearings for proposed regulations with… Read More »IRS returns to in-person public hearings; telephone still an option

US consumer spending flattens; core inflation still hot

(Reuters) – U.S. consumer spending was unchanged in March as an increase in outlays on services was offset by a… Read More »US consumer spending flattens; core inflation still hot

Jerome Powell Could Face More Opposition as Fed Choices Get Tougher

(Bloomberg) — Chair Jerome Powell has achieved a near-perfect consensus as the Federal Reserve raised interest rates aggressively. Now, with… Read More »Jerome Powell Could Face More Opposition as Fed Choices Get Tougher

Americans are saving far less than normal in 2023. Here’s why

KEY POINTS The U.S. personal savings rate remains below its historical average, according to the U.S. Bureau of Economic Analysis. The seasonally… Read More »Americans are saving far less than normal in 2023. Here’s why

Why having good credit could cost you more on a home mortgage

If you’re looking to buy a home, new federal rules may impact how much you pay for a mortgage. Beginning… Read More »Why having good credit could cost you more on a home mortgage

U.S. GDP rose at a 1.1% pace in the first quarter as signs build that the economy is slowing

KEY POINTS Growth in the U.S. slowed considerably during the first three months of the year as interest rate increases… Read More »U.S. GDP rose at a 1.1% pace in the first quarter as signs build that the economy is slowing

High-yield savings accounts surge amid shaky stock market, experts say

Tech giant Apple last week announced a buzzy product release — but it wasn’t a new version of its iPhone or virtual reality headset.… Read More »High-yield savings accounts surge amid shaky stock market, experts say

Werfel: IRS will audit individuals under $400K at 2018 rates

The IRS will use audit rates from 2018 to determine what percentage of individual taxpayers reporting income under $400,000 a… Read More »Werfel: IRS will audit individuals under $400K at 2018 rates

More Than 25% of the Companies That Merged With SPACs During the Boom Are Penny Stocks Now

Buzzfeed isn’t the only company that merged with a SPAC that’s hurting. Of the 365 companies that listed publicly through a… Read More »More Than 25% of the Companies That Merged With SPACs During the Boom Are Penny Stocks Now

VC deals continue to fall across US startup hubs

More evidence continues to show just how challenging today’s venture funding environment is compared to the pandemic-era boom. Nationally, tech… Read More »VC deals continue to fall across US startup hubs

Stocks Muted Amid Rush of Earnings

Stocks were muted Wednesday as another heavy day of corporate earnings got under way, with companies broadly posting results that… Read More »Stocks Muted Amid Rush of Earnings

Calling the IRS? Hold times are way down this tax season

WASHINGTON (AP) — Taxpayers who called the IRS had an average wait time of four minutes this tax season compared… Read More »Calling the IRS? Hold times are way down this tax season

74% say they can’t count on Social Security when planning for retirement. Here’s what not to do

KEY POINTS Negative headlines about Social Security’s future may be affecting how prepared people feel when it comes to their own retirement. Almost three-quarters,… Read More »74% say they can’t count on Social Security when planning for retirement. Here’s what not to do

CFO optimism is up, but cost concerns remain

Some CFOs are choosing to look on the bright side. Despite a potential recession, more than half of finance leaders… Read More »CFO optimism is up, but cost concerns remain

Survey: 68% have made a financial sacrifice to help their adult children with money

Parents are stepping in to help their adult children when they’re in a financial pinch, but many are sacrificing their… Read More »Survey: 68% have made a financial sacrifice to help their adult children with money

As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon

KEY POINTS New government inflation data shows inflation is cooling — and that could point to a lower cost-of-living adjustment, or COLA,… Read More »As inflation starts to subside, a lower Social Security cost-of-living adjustment for 2024 may be on the horizon

IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990

KEY POINTS The International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more… Read More »IMF cuts GDP forecasts, says global economy heading for weakest growth since 1990

Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold

KEY POINTS Inflation cooled in March as the Federal Reserve’s interest rate increases showed more impact, the Labor Department reported Wednesday.… Read More »Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold

BofA sees ‘meaningful risks’ of Q2 U.S. economic contraction

(Reuters) – The U.S. economy is at risk of shrinking in the second quarter, BofA Global Research wrote in a… Read More »BofA sees ‘meaningful risks’ of Q2 U.S. economic contraction

US companies face biggest decline in profits since Covid shutdowns

Corporate America is facing its sharpest drop in profits since the early stages of the coronavirus pandemic, according to Wall… Read More »US companies face biggest decline in profits since Covid shutdowns

US Bank Lending Slumps by Most on Record in Final Weeks of March

(Bloomberg) — US bank lending contracted by the most on record in the last two weeks of March, indicating a… Read More »US Bank Lending Slumps by Most on Record in Final Weeks of March

As Tech Jobs Disappear, Silicon Valley Veterans Reset Their Careers

For engineers and other tech workers, landing a job with one of the industry’s best-known companies was long the ultimate… Read More »As Tech Jobs Disappear, Silicon Valley Veterans Reset Their Careers

7 Things to Know Before Starting Your Side Hustle

Thinking of starting a side hustle? According to the latest New Business Insights survey commissioned by Intuit Quickbooks, millions of Americans are… Read More »7 Things to Know Before Starting Your Side Hustle

March Jobs Report Shows Hiring Gradually Cooling

The red-hot labor market cooled some in March, with hiring gains moderating and wage growth easing as more workers sought… Read More »March Jobs Report Shows Hiring Gradually Cooling

US corporate bankruptcy filings spiked in March: S&P Global

Corporate bankruptcy petitions in the U.S. surged last month and first-quarter filings this year reached the highest level since 2010,… Read More »US corporate bankruptcy filings spiked in March: S&P Global

Layoffs are up nearly fivefold so far this year with tech companies leading the way

KEY POINTS Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month and a giant… Read More »Layoffs are up nearly fivefold so far this year with tech companies leading the way

Global economy set for years of weak growth, IMF chief Kristalina Georgieva warns

The IMF’s managing director has warned that the global economy is facing years of slow growth, with medium-term prospects their… Read More »Global economy set for years of weak growth, IMF chief Kristalina Georgieva warns

Stocks Close Higher in Last Session of Turbulent Quarter

Stocks ended the quarter on a positive note, after a stormy three months in which markets were whipsawed by strains in the… Read More »Stocks Close Higher in Last Session of Turbulent Quarter

Women Are Still the Driving Force of US Post-Covid Entrepreneurs

(Bloomberg) — Women created about half of new US businesses for the third year in a row in 2022, largely… Read More »Women Are Still the Driving Force of US Post-Covid Entrepreneurs

Social Security trust funds depletion date moves one year earlier to 2034, Treasury says

KEY POINTS The Social Security trust funds that about 67 million Americans rely on for benefits are scheduled to be depleted in… Read More »Social Security trust funds depletion date moves one year earlier to 2034, Treasury says

Inflation softens in February, PCE finds and takes some pressure off Fed

The numbers: The cost of U.S. goods and services rose by a milder 0.3% in February, perhaps a sign the Federal… Read More »Inflation softens in February, PCE finds and takes some pressure off Fed

Nasdaq 100 Enters Bull Market as Bank Jitters Ease, Tech Rallies

The Nasdaq 100 Index surged into a new bull market Wednesday for the first time in nearly three years as… Read More »Nasdaq 100 Enters Bull Market as Bank Jitters Ease, Tech Rallies

Does more money correlate with greater happiness?

Reconciling previously contradictory results, researchers from Penn and Princeton find a steady association between larger incomes and greater happiness for… Read More »Does more money correlate with greater happiness?

How to reverse course on collecting Social Security

Sometimes individuals submit applications for Social Security retirement benefits but then have a change of heart. Perhaps they retired or… Read More »How to reverse course on collecting Social Security

With 62% of Americans living paycheck to paycheck amid inflation, more people have a side job

KEY POINTS It’s getting harder to keep up with higher prices. As of February, 62% of all U.S. adults were… Read More »With 62% of Americans living paycheck to paycheck amid inflation, more people have a side job

FASB issues update to leases guidance

FASB on Monday released an amendment to an Accounting Standards Update designed to improve leases guidance on related party arrangements… Read More »FASB issues update to leases guidance

The IRS has issued nearly 54 million tax refunds. Here’s the average payment

KEY POINTS With the tax deadline approaching, the IRS has issued roughly 54 million refunds worth about $158 billion as… Read More »The IRS has issued nearly 54 million tax refunds. Here’s the average payment

Investors Brace for Another Week of Volatility as Mad March Ends

Global financial markets are poised for another week of volatility, as traders close out a dizzying month in which worries about US… Read More »Investors Brace for Another Week of Volatility as Mad March Ends

First Citizens is acquiring $72B in deposits and loans from Silicon Valley Bridge Bank

First Citizens has agreed to buy a $72 billion chunk of Silicon Valley Bridge Bank, the California lender formerly known as Silicon… Read More »First Citizens is acquiring $72B in deposits and loans from Silicon Valley Bridge Bank

Retirement vs. emergency savings: How to prioritize in a shaky economy

KEY POINTS When you’re on a tight budget, It can be tough to decide between contributing to your retirement savings… Read More »Retirement vs. emergency savings: How to prioritize in a shaky economy

BofA, UBS trim forecast for Fed funds rate amid banking crisis

(Reuters) – Bank of America and UBS trimmed their terminal rate expectations on Thursday after the U.S. Federal Reserve hinted… Read More »BofA, UBS trim forecast for Fed funds rate amid banking crisis

New Fed Forecasts Suggest Central Bank Is Bracing for Recession

Federal Reserve Chair Jerome Powell and his colleagues are expecting a sharp dropoff in economic activity through the rest of… Read More »New Fed Forecasts Suggest Central Bank Is Bracing for Recession

IRS investigators uncover billions in COVID tax fraud

The Internal Revenue Service’s Criminal Investigation unit investigated nearly 1,000 tax and money laundering cases related to COVID-19 relief, with… Read More »IRS investigators uncover billions in COVID tax fraud

Here’s why retirement age matters for Social Security and Medicare

62, 65, 67, 70. All these ages are important when it comes to Social Security and Medicare. And these ages… Read More »Here’s why retirement age matters for Social Security and Medicare

Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money

KEY POINTS The Federal Reserve raised the target federal funds rate by a modest 0.25 percentage points on Wednesday, after nearly two weeks… Read More »Here’s what the Federal Reserve’s 25 basis point interest rate hike means for your money

Fed raises key rate by quarter-point despite bank turmoil

WASHINGTON (AP) — The Federal Reserve extended its year-long fight against high inflation Wednesday by raising its key interest rate… Read More »Fed raises key rate by quarter-point despite bank turmoil

Investors Nearing Retirement Show Patience With Markets

Despite last year’s upheaval, many investors are sticking with long-term plans and tightening their budgets instead of moving money out… Read More »Investors Nearing Retirement Show Patience With Markets

Global banking turbulence prompts Wall Street banks to trim hawkish Fed bets

(Reuters) – Goldman Sachs is expecting a pause this week from the U.S. Federal Reserve after a year-long rate increase… Read More »Global banking turbulence prompts Wall Street banks to trim hawkish Fed bets

Silicon Valley Bank left a void that won’t easily be filled

New York (CNN) — It’s difficult to overstate the influence that Silicon Valley Bank had over the startup world and the ripple… Read More »Silicon Valley Bank left a void that won’t easily be filled

First Republic rallies as Yellen says US prepared to give more support

Treasury secretary defends ‘decisive and forceful actions’ by regulators to avert broader crisis Shares of First Republic and other regional… Read More »First Republic rallies as Yellen says US prepared to give more support

Taxpayer services should get more of that $80 billion, advocate says

The IRS should spend more of its $80 billion appropriation over 10 years on taxpayer services and business systems modernization… Read More »Taxpayer services should get more of that $80 billion, advocate says

Logging into Zoom at the beach could land you a tax bill

When does doing a little work on vacation turn into a stay that piques the interest of local tax authorities?… Read More »Logging into Zoom at the beach could land you a tax bill

More Companies Are Going Bust This Year—and It’s Not Just Banks

The collapses of Silicon Valley Bank and Signature Bank over the weekend continue to dominate headlines and send ripples through markets. But even… Read More »More Companies Are Going Bust This Year—and It’s Not Just Banks

Could this meeting have been an email? Employees are over meetings. Now companies are too

Before the pandemic, Logikcull had an office in downtown San Francisco and, like most tech companies, it had a lot of… Read More »Could this meeting have been an email? Employees are over meetings. Now companies are too

Wholesale prices post an unexpected decline of 0.1% in February; retail sales fall

KEY POINTS Wholesale prices posted an unexpected decline in February, providing some encouraging news on inflation as the Federal Reserve… Read More »Wholesale prices post an unexpected decline of 0.1% in February; retail sales fall

Wage growth is cooling — but workers still have bargaining power, economists say

KEY POINTS The pace of wage growth seems to be decelerating, according to the February jobs report issued Friday — but workers… Read More »Wage growth is cooling — but workers still have bargaining power, economists say

Government races to reassure US that banking system is safe

NEW YORK (AP) — Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced… Read More »Government races to reassure US that banking system is safe

U.S. Inflation Cooled in February as Fed Confronts Bank Failures

Inflation eased in February but remained stubbornly high, presenting a challenge for the Federal Reserve as it confronts how to… Read More »U.S. Inflation Cooled in February as Fed Confronts Bank Failures

US court rules Uber and Lyft workers are contractors

A US court has ruled that “gig” economy giants including Uber and Lyft can continue treating their workers as independent… Read More »US court rules Uber and Lyft workers are contractors

This is how a no meeting week boosts employee productivity and wellbeing

If you sometimes feel like your days are being taken up by meeting after meeting, leaving you little time to… Read More »This is how a no meeting week boosts employee productivity and wellbeing

Up to 45 Percent of Americans Have a Side Hustle

73% of workers with a side hustle are actively thinking about quitting their job. 60% of workers said that they… Read More »Up to 45 Percent of Americans Have a Side Hustle

Inflation, talent, labor costs: 3 challenges amid slightly rising optimism

Overall, positivity about the U.S. economy remains muted, with just 23% of respondents to a recent survey saying they are optimistic about… Read More »Inflation, talent, labor costs: 3 challenges amid slightly rising optimism

Biden Fires $6.9 Trillion Salvo to Open Budget Showdown With GOP

(Bloomberg) — President Joe Biden unveiled a $6.9 trillion budget proposal on Thursday, a defiant opening salvo in high-stakes negotiations… Read More »Biden Fires $6.9 Trillion Salvo to Open Budget Showdown With GOP

Long-Term Care Insurance: To Buy or Not to Buy?

Should you buy long-term care insurance or save up to self-insure? There are many trade-offs to consider. And, surprise: It… Read More »Long-Term Care Insurance: To Buy or Not to Buy?

Economic optimism is still low but improving; concerns about inflation remain

After hitting a historic low at the end of 2022, the outlook on the U.S. economy rebounded somewhat in February… Read More »Economic optimism is still low but improving; concerns about inflation remain

US Companies Added More Jobs Than Expected as Demand for Workers Remained Elevated

US companies added more jobs than expected in February, underscoring persistent demand for labor that’s keeping wage growth elevated. Private… Read More »US Companies Added More Jobs Than Expected as Demand for Workers Remained Elevated

Milestones for S Corporation Election

Although the most significant advantage is the limited liability protection it provides its shareholders, the S Corp election also avoids… Read More »Milestones for S Corporation Election

ChatGPT’s Tax Advice Was Wrong 100% Of The Time

ChatGPT can write essays, poetry, letters, and more, so we posed the question—can it do our taxes? Our company, TaxBuzz,… Read More »ChatGPT’s Tax Advice Was Wrong 100% Of The Time

Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated

KEY POINTS Federal Reserve Chairman Jerome Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers… Read More »Fed Chair Powell says interest rates are ‘likely to be higher’ than previously anticipated

ChatGPT’s Impact on CFOs: What is AI’s Limit in Replacing Humans?

As ChatGPT’s trendiness questions the value of some parts of the workforce, the value of human intuition is also up… Read More »ChatGPT’s Impact on CFOs: What is AI’s Limit in Replacing Humans?

U.S. Household Debt Hit a Record $16.90 Trillion in 2022

Household debt rose to new levels in 20 years — jumping $394 billion in the fourth quarter of the year… Read More »U.S. Household Debt Hit a Record $16.90 Trillion in 2022

Millions of Americans nearing retirement age with no savings

Cumberland, Rhode Island — Maryann O’Connor is juggling two jobs, sometimes working up to 11 hours per day, not what she… Read More »Millions of Americans nearing retirement age with no savings

Predictions for 2023: A make-or-break year for startups

I predict 2023 is going to be a year of reordering as the true breakthrough companies separate themselves from the… Read More »Predictions for 2023: A make-or-break year for startups

Businesses and consumers are borrowing more, despite rising interest rates

This week, the Federal Deposit Insurance Corp. released its latest quarterly banking profile. That’s a survey of thousands of large and… Read More »Businesses and consumers are borrowing more, despite rising interest rates

Top 10 tax-planning considerations for 2023

The first quarter of this year finds businesses confronting plenty of tax and business challenges. Rising interest rates and inflation… Read More »Top 10 tax-planning considerations for 2023

4 Ways to Turn Your KPIs Into Strategic Assets

Performance metrics are evolving. It’s time for financial leaders to do the same. In the digital economy, businesses are finding… Read More »4 Ways to Turn Your KPIs Into Strategic Assets

U.S. factories contract for a fourth straight month, ISM shows, but there might be a silver lining

The numbers: A key barometer of American factories was negative for the fourth month in a row at 47.7%, as manufacturers… Read More »U.S. factories contract for a fourth straight month, ISM shows, but there might be a silver lining

Calculate it: How long will it take to grow into old valuations?

It’s a tough pill to swallow, but the entire VC ecosystem is slowly accepting that it will be a long… Read More »Calculate it: How long will it take to grow into old valuations?

NY Times: IRS Decision Not To Tax State Stimulus Payments Carries Fiscal Cost

New York Times, I.R.S. Decision Not to Tax Certain Payments Carries Fiscal Cost: More than 20 state governments, flush with cash… Read More »NY Times: IRS Decision Not To Tax State Stimulus Payments Carries Fiscal Cost

Supreme Court holds FBAR penalty is imposed per report, not per account

The U.S. Supreme Court held Tuesday in a 5-4 decision that the $10,000 penalty for a non-willful failure to file… Read More »Supreme Court holds FBAR penalty is imposed per report, not per account

US consumer confidence retreats, house price inflation cools further

(Reuters) – U.S. consumer confidence unexpectedly fell in February, with the decrease concentrated among lower-middle-income households, though Americans grew more… Read More »US consumer confidence retreats, house price inflation cools further

U.S. retailers’ ocean shipping price woes ending, but new delays threaten

(Reuters) – Collapsing ocean shipping rates would seem to be good news for U.S. retailers, but they are now bracing… Read More »U.S. retailers’ ocean shipping price woes ending, but new delays threaten

Should I Sell or Rent My House When I Relocate for Retirement?

This decision isn’t easy, thanks to investment, tax, and other considerations. Let’s explore the implications of each. After 40 years… Read More »Should I Sell or Rent My House When I Relocate for Retirement?

3 strategies can get you more financial aid for college

KEY POINTS Getting into college is hard enough, but figuring out how to pay for it is another hurdle altogether. Higher education already costs… Read More »3 strategies can get you more financial aid for college

The 2023 US recession now expected to start later than predicted

WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than… Read More »The 2023 US recession now expected to start later than predicted

1 in 6 retirees are mulling a return to work. What to consider before ‘unretiring’

KEY POINTS For some retirees, heading back to work has emerged as an aspiration. Roughly 1 in 6 retired Americans say they… Read More »1 in 6 retirees are mulling a return to work. What to consider before ‘unretiring’

Faster Inflation Portends Higher Fed Peak Rate in Latest Economists’ Survey

Inflation that is proving increasingly stubborn will prompt the Federal Reserve to raise interest rates to an even higher peak… Read More »Faster Inflation Portends Higher Fed Peak Rate in Latest Economists’ Survey

Retirement account balances lost almost 25 percent last year: Fidelity

Average retirement account balances dropped nearly 25 percent last year, according to a new report by Fidelity. Although retirement balances… Read More »Retirement account balances lost almost 25 percent last year: Fidelity

Using Your Real Email to Sign In? Your Privacy Is at Risk

Many people use their primary email to sign in to practically everything. That’s a privacy nightmare, and you might be… Read More »Using Your Real Email to Sign In? Your Privacy Is at Risk

Supreme Court rules Helix Energy oil rig worker who makes $200,000 is entitled to overtime

KEY POINTS The Supreme Court ruled Wednesday that an offshore oil rig worker who earned more than $200,000 annually — and whose company classified… Read More »Supreme Court rules Helix Energy oil rig worker who makes $200,000 is entitled to overtime

8 reasons why you need an EIN for your business and how to apply for one

Business owners can apply for their Employer Identification Number in minutes and use it to hire employees, borrow, pay taxes,… Read More »8 reasons why you need an EIN for your business and how to apply for one

IRS and Treasury Finalize E-Filing Rules for Businesses

The final regulations reflect changes made by the Taxpayer First Act that strengthen e-filing requirements. The IRS and the Treasury… Read More »IRS and Treasury Finalize E-Filing Rules for Businesses

U.S. IPO pick-up offers hope of market re-open

(Reuters) – Is the IPO winter finally easing? A year after Russia’s invasion of Ukraine and an inflation rally fueled… Read More »U.S. IPO pick-up offers hope of market re-open

Taxpayers can now submit information online in response to 9 IRS notices

Taxpayers and tax practitioners can now submit information online in response to nine notices rather than mailing the information, in… Read More »Taxpayers can now submit information online in response to 9 IRS notices

Ways to Avoid the Penalty on Early Retirement Withdrawals

Sometimes you just can’t avoid dipping into a retirement fund, but you might be able to qualify for an exception… Read More »Ways to Avoid the Penalty on Early Retirement Withdrawals

IRS misses Friday deadline to turn over $80 billion spending plan

The IRS will not meet the Friday deadline imposed by Treasury Secretary Janet Yellen to turn over its spending plan… Read More »IRS misses Friday deadline to turn over $80 billion spending plan

Fed Officials Support More Rate Hikes to Ensure Lower Inflation

(Bloomberg) — Two of the Federal Reserve’s most hawkish policymakers signaled they may favor returning to bigger interest-rate hikes in… Read More »Fed Officials Support More Rate Hikes to Ensure Lower Inflation

Dow Lags Market by Most Since 1934 as Stock Rotation Continues

When the stock market reeled last year, the Dow Jones Industrial Average became a place where many found shelter. As… Read More »Dow Lags Market by Most Since 1934 as Stock Rotation Continues

After-Tax 401(k) Contributions: Pros and Cons

Three types of people could benefit from taking advantage of the after-tax 401(k) contributions option in their company’s retirement plan.… Read More »After-Tax 401(k) Contributions: Pros and Cons

Retail sales jump 3% in January, smashing expectations despite an inflation increase

KEY POINTS Sales at retailers rose far more than expected in January as consumers persevered despite rising inflation pressures. Advance… Read More »Retail sales jump 3% in January, smashing expectations despite an inflation increase

Consumer prices rise at a faster pace in January

Consumer prices rose at a more rapid monthly pace in January, the Labor Department said on Tuesday — interrupting a monthslong… Read More »Consumer prices rise at a faster pace in January

Ex-Cisco chief John Chambers says more than 1/3 of all startups will fail in the next two years

If you ask John Chambers, the startup world is about to be hit with a cataclysm: Within the next two… Read More »Ex-Cisco chief John Chambers says more than 1/3 of all startups will fail in the next two years

‘Great Resignation’ becomes ‘Great Regret’ for job-hoppers

Many workers who quit last year in the so-called Great Resignation are now reporting Great Regret as Big Tech layoffs… Read More »‘Great Resignation’ becomes ‘Great Regret’ for job-hoppers

Why Capital Investment in Equipment Doesn’t Hurt Employment

A new study co-authored by Wharton’s Daniel G. Garrett shows that giving businesses tax breaks for investment in new equipment… Read More »Why Capital Investment in Equipment Doesn’t Hurt Employment

How Changing the Connotation of ‘Quiet Quitting’ can Benefit the Workplace

Jim Detert just wants to set the record straight. The University of Virginia professor, who holds a joint appointment in… Read More »How Changing the Connotation of ‘Quiet Quitting’ can Benefit the Workplace

Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago

KEY POINTS Inflation turned higher to start 2023, as rising shelter, gas, and fuel prices took their toll on consumers,… Read More »Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago

IRS Says State-Issued Stimulus Payments are Not Taxable

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will… Read More »IRS Says State-Issued Stimulus Payments are Not Taxable

Rollovers from a 401(k) plan to an IRA: Weigh these 7 factors first

KEY POINTS Moving money from a 401(k) plan to an individual retirement account — an action commonly known as a… Read More »Rollovers from a 401(k) plan to an IRA: Weigh these 7 factors first

IRS seeks information on 21 states regarding special payments, refunds

The IRS has asked a tax group for information from 21 states as it works to determine whether special tax… Read More »IRS seeks information on 21 states regarding special payments, refunds

What Recession? Some Economists See Chances of a Growth Rebound.

The Federal Reserve has raised rates rapidly. But instead of cracking, some data point to an economy that’s thriving. Many… Read More »What Recession? Some Economists See Chances of a Growth Rebound.

Treasury Yield-Curve Inversion Reaches Deepest Level Since the 1980s

US government bond investors pushed two-year yields above 10-year yields by the widest margin since the early 1980s Thursday, a… Read More »Treasury Yield-Curve Inversion Reaches Deepest Level Since the 1980s

NY Times: Black Americans Are Much More Likely To Face Tax Audits, Study Finds

A new report documents systemic discrimination in how the I.R.S. selects taxpayers to be audited, with implications for a debate… Read More »NY Times: Black Americans Are Much More Likely To Face Tax Audits, Study Finds

New IRS feature allows taxpayers electronically filing amended returns to choose direct deposit to speed up refunds

WASHINGTON — In the latest improvement for taxpayers, the Internal Revenue Service announced today that people electronically filing their Form 1040-X,… Read More »New IRS feature allows taxpayers electronically filing amended returns to choose direct deposit to speed up refunds

Half in U.S. Say They Are Worse Off, Highest Since 2009

WASHINGTON, D.C. — Reflecting on their personal financial situations, 35% of Americans say they are better off now than they… Read More »Half in U.S. Say They Are Worse Off, Highest Since 2009

Are State Tax Refunds And Rebates Federally Taxable? It Depends.

Federal taxability of state-issued stimulus payments is causing frustration for taxpayers and tax professionals. Indeed, whether or not state-issued stimulus… Read More »Are State Tax Refunds And Rebates Federally Taxable? It Depends.

Wall Street rallies but trade choppy as investors digest Powell’s comments

(Reuters) – U.S. stocks rallied to a convincingly higher close on Tuesday, but trade was choppy as investors digested comments… Read More »Wall Street rallies but trade choppy as investors digest Powell’s comments

Treasury Secretary Janet Yellen rejects recession fears, says the economy is ‘strong’

Data last week showed that the unemployment rate stands at a 53-year low. Treasury Secretary Janet Yellen rejected recession fears in an… Read More »Treasury Secretary Janet Yellen rejects recession fears, says the economy is ‘strong’

Goldman Cuts US Recession Odds to 25% on Jobs, Business Outlook

Economists at Goldman Sachs Group Inc. said the risk of a US recession is receding amid a persistently strong jobs… Read More »Goldman Cuts US Recession Odds to 25% on Jobs, Business Outlook

SEC Considers Easing Climate-Disclosure Rules After Investor Pushback

Wall Street regulator is revisiting how proposals would affect financial reporting The Securities and Exchange Commission is considering a softening… Read More »SEC Considers Easing Climate-Disclosure Rules After Investor Pushback

Upbeat Economic Data Keep Investors on Edge About Fed

After a strong jobs report, traders are betting the Fed might raise interest rates two more times this year The… Read More »Upbeat Economic Data Keep Investors on Edge About Fed

R&D Tax Credit Misconceptions and Guidelines

The federal research and development (R&D) Tax Credit is a useful credit for businesses of all sizes. The credit is… Read More »R&D Tax Credit Misconceptions and Guidelines

Wait times for practitioner phone line reduced, IRS official says

Starting in January, the IRS has answered calls to its Practitioner Priority Service telephone line in under 10 minutes, thanks… Read More »Wait times for practitioner phone line reduced, IRS official says

Standards Setter Floats New Rule on Crypto Accounting

Financial Accounting Standards Board proposes that U.S. companies use fair-value accounting to measure certain cryptocurrency assets The Financial Accounting Standards… Read More »Standards Setter Floats New Rule on Crypto Accounting

Stock Buybacks Race to Record $132 Billion Start as Companies Snub All Warnings

President Joe Biden dislikes them. The taxman is coming after them. And Wall Street strategists warn the boom won’t last.… Read More »Stock Buybacks Race to Record $132 Billion Start as Companies Snub All Warnings

January job growth is forecast to slow slightly, but the impact of big corporate layoffs is uncertain

KEY POINTS Economists expect slightly slower, but still strong job growth in January, while the impact of corporate layoff announcements… Read More »January job growth is forecast to slow slightly, but the impact of big corporate layoffs is uncertain

78% of CFOs Say Quiet Quitting is a Problem: Weekly Stat

Strategies around talent recruitment and retainment are a principal focus for CFOs, according to a new study by CFO. Competition… Read More »78% of CFOs Say Quiet Quitting is a Problem: Weekly Stat

Taxpayer marital status and the QBI deduction

The law known as the Tax Cuts and Jobs Act (TCJA),1 enacted in 2017, made significant changes to the corporate and… Read More »Taxpayer marital status and the QBI deduction

Fed approves 0.25% hike, softening rate increases again

The Fed has raised interest rates to cut prices but the move risks a recession. The Federal Reserve said Wednesday… Read More »Fed approves 0.25% hike, softening rate increases again

U.S. weekly jobless claims drop to nine-month low; productivity gains speed

WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low… Read More »U.S. weekly jobless claims drop to nine-month low; productivity gains speed

U.S. execs sound a note of caution even as earnings outstrip estimates

CHICAGO/DETROIT, Jan 31 (Reuters) – The companies that produce goods at the heart of the U.S. consumer economy – SUVs,… Read More »U.S. execs sound a note of caution even as earnings outstrip estimates

Even on $100k Plus, More Americans Are Living Paycheck-to-Paycheck

(Bloomberg) — The share of Americans who say they live paycheck-to-paycheck climbed last year, and most of the new arrivals… Read More »Even on $100k Plus, More Americans Are Living Paycheck-to-Paycheck

Dow closes more than 350 points higher, S&P 500 caps best January in four years

Stocks rose on Tuesday as strong earnings and encouraging inflation data pushed the S&P 500 to its best January since… Read More »Dow closes more than 350 points higher, S&P 500 caps best January in four years

WSJ: Whose Name Goes First On Your Joint Tax Return? Probably Not The Woman.

Wall Street Journal, Who Goes First on Your Joint Tax Return? Probably Not the Woman. The IRS doesn’t care, so why… Read More »WSJ: Whose Name Goes First On Your Joint Tax Return? Probably Not The Woman.

Yellen Sees Low Inflation as More Likely Long-Term Challenge

US Treasury Secretary Janet Yellen said persistently weak inflation is likely to return as a long-term challenge for the economy… Read More »Yellen Sees Low Inflation as More Likely Long-Term Challenge

2023 Recession Could Last 3 Quarters

If something’s going to be painful, it’s easier to bear if it’s of short duration, at least in some contexts. … Read More »2023 Recession Could Last 3 Quarters

Sec. 163(j) business interest limitation: New rules for 2022

The business interest expense deductibility limitation provisions of Sec. 163(j) have taken on a broader scope since the passage of… Read More »Sec. 163(j) business interest limitation: New rules for 2022

With fraud on the rise, experts urge taxpayers to file their tax returns early

“It’s safe to assume your Social Security number is in the hands of someone you don’t want to have it,”… Read More »With fraud on the rise, experts urge taxpayers to file their tax returns early

Fed’s words in focus as markets bet rate hikes will soon end

(Reuters) – U.S. central bankers have unambiguously telegraphed this week’s policy decision: a quarter-of-a-percentage-point increase in their benchmark interest rate,… Read More »Fed’s words in focus as markets bet rate hikes will soon end

Highlights of SECURE Act 2.0 for Individuals

SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. Following is a brief roundup of several key changes.… Read More »Highlights of SECURE Act 2.0 for Individuals

Corporate Layoffs Spread Beyond High-Growth Tech Giants

Dow, IBM, and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority Dow Inc., DOW 1.46%increase;… Read More »Corporate Layoffs Spread Beyond High-Growth Tech Giants

The U.S. economy doesn’t look as good as GDP suggests

The U.S. economy grew at a seemingly snappy pace in the waning months of 2022, but it appears to have gotten… Read More »The U.S. economy doesn’t look as good as GDP suggests

Financial Wellness Is Self-Care: 3 Steps to Help Improve Yours

Many people resolve in the new year to get healthier. Taking charge of your financial wellness can help improve your… Read More »Financial Wellness Is Self-Care: 3 Steps to Help Improve Yours

2023 Outlook: 4 Charts to Watch

CFOs should be aware of these data points on employment trends, CPI, and productivity going into 2023. CFOs are number-centric,… Read More »2023 Outlook: 4 Charts to Watch

Mortgage rates continue a downward trend

The average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to… Read More »Mortgage rates continue a downward trend

Faced with a $1,000 emergency, most Americans say they wouldn’t have the money

A majority of Americans say they would struggle to pay for a $1,000 emergency expense, with a record share saying… Read More »Faced with a $1,000 emergency, most Americans say they wouldn’t have the money

Why Older Americans Regret Not Saving Early and Enough

Financial literacy and greater longevity awareness will help fix retirement planning gaps, according to a study that delved into multiple… Read More »Why Older Americans Regret Not Saving Early and Enough

Here’s how much money you need to earn to be in the top 1% in every U.S. state

Being considered rich isn’t just about how much money you make, it’s where you live, too. State by state, the… Read More »Here’s how much money you need to earn to be in the top 1% in every U.S. state

IRS opens a free portal to file information returns; new electronic option can reduce millions of paper Forms 1099 estimated to be filed by businesses in 2023

WASHINGTON — The Internal Revenue Service announced today that businesses can now file Form 1099 series information returns using a… Read More »IRS opens a free portal to file information returns; new electronic option can reduce millions of paper Forms 1099 estimated to be filed by businesses in 2023

64% of CFOs Predict Net Profit Growth in 2023

CFOs are widely focused on reducing costs, spotting M&A opportunities, and restructuring supply chains, per Grant Thornton. The overall economy… Read More »64% of CFOs Predict Net Profit Growth in 2023

How to Pay 0% in Taxes (Without Cheating)

Investors and retirement savers have many tools at their disposal to whittle their incomes down to a point where capital… Read More »How to Pay 0% in Taxes (Without Cheating)

Oscar-nominated ‘Everything Everywhere All At Once’ features an IRS ordeal, but here’s what really happens in an audit, according to tax pros

KEY POINTS Few things are more frightening for everyday taxpayers than a possible IRS audit. But experts say tax exams… Read More »Oscar-nominated ‘Everything Everywhere All At Once’ features an IRS ordeal, but here’s what really happens in an audit, according to tax pros

What’s the 411? Explaining Schedules K-2 and K-3

Consternation and chaos are two of the words used to describe some of the reactions to IRS updates related to… Read More »What’s the 411? Explaining Schedules K-2 and K-3

These common misconceptions can prevent you from achieving that perfect credit score

KEY POINTS Randy had an 850 credit score. According to FICO, the most popular scoring model, that’s as good as… Read More »These common misconceptions can prevent you from achieving that perfect credit score

Am I Going to Be OK in Retirement? Yes, With Focus on 5 Key Areas

All it takes is protecting what you save, having an income plan, knowing your health care options, reducing your tax… Read More »Am I Going to Be OK in Retirement? Yes, With Focus on 5 Key Areas

As Tax Season Starts, a Beleaguered I.R.S. Looks to Bolster Customer Service

The Biden administration is focusing on making the agency more responsive amid concerns that a funding increase will result in… Read More »As Tax Season Starts, a Beleaguered I.R.S. Looks to Bolster Customer Service

The Fed’s new challenge: Stay on the gas or tap the brakes?

As they debate the size of their next rate hike, Federal Reserve officials grapple with the broader needs of an… Read More »The Fed’s new challenge: Stay on the gas or tap the brakes?

Investors Aren’t Sure When to Dive Back Into US Stock Market

The pause in the stock market’s strong start to 2023 underscores the main question vexing much of Wall Street: When… Read More »Investors Aren’t Sure When to Dive Back Into US Stock Market

Fed Governor Waller backs quarter-point interest rate hike at next meeting

KEY POINTS Federal Reserve Governor Christopher Waller said Friday he favors a quarter percentage point interest rate increase at the… Read More »Fed Governor Waller backs quarter-point interest rate hike at next meeting

A growing number of Americans face potentially crippling credit-card debt

Americans are piling on credit-card debt just as interest rates are reaching historic highs.  Multiple polls show American consumers sinking… Read More »A growing number of Americans face potentially crippling credit-card debt

Why Hybrid Work Will Reign in 2023

Hybrid work is here to stay. That’s the prediction from Wharton management professor Martine Haas, who was asked to share what… Read More »Why Hybrid Work Will Reign in 2023

Child Tax Credit Changes and FAQs for Your 2022 Tax Return

The bigger and better child tax credit that applied for 2021 is gone, replaced by a new set of rules… Read More »Child Tax Credit Changes and FAQs for Your 2022 Tax Return

3 Mistakes Business Owners Can’t Afford to Make When Planning Their Exit Strategy

Getting an early start on laying the groundwork for your exit is imperative. Empowering others to make decisions and delegating… Read More »3 Mistakes Business Owners Can’t Afford to Make When Planning Their Exit Strategy

Don’t Make These 3 Big Mistakes This Tax Season

It’s the beginning of every American’s favorite time of the year to hate: tax season. The IRS will begin accepting… Read More »Don’t Make These 3 Big Mistakes This Tax Season

IRS turns to bank data to investigate tax criminals

The Internal Revenue Service’s Criminal Investigation unit is increasingly relying on information provided by financial institutions under the Bank Secrecy… Read More »IRS turns to bank data to investigate tax criminals

FTC Proposes Rule to Ban Noncompete Clauses, Which Hurt Workers and Harm Competition

Agency estimates new rule could increase workers’ earnings by nearly $300 billion per year The Federal Trade Commission proposed a new… Read More »FTC Proposes Rule to Ban Noncompete Clauses, Which Hurt Workers and Harm Competition

Companies race to work around choke points in world trade

Geopolitical risks are driving efforts to diversify but there are no quick solutions It is a year since New York… Read More »Companies race to work around choke points in world trade

Globalization Isn’t Dead. But It’s Changing.

Multinational companies still want cheap and efficient markets, but they also want safety. That’s why they’re rerouting the pathways of… Read More »Globalization Isn’t Dead. But It’s Changing.

China’s population falls in a historic shift

The first decline in 60 years is set to have long-term consequences for domestic and global economies China’s population fell… Read More »China’s population falls in a historic shift

Over 5 Million New US Startups Show Covid-Era Boom Has Legs

(Bloomberg) — More than 5 million businesses were created in the US last year, a sign that the entrepreneurship boom… Read More »Over 5 Million New US Startups Show Covid-Era Boom Has Legs

The rise of the cash balance pension plan

Become familiar with this hybrid type of pension plan and its advantages for the right businesses. Many successful business owners… Read More »The rise of the cash balance pension plan

Tax season 2023: Smaller refunds, higher audit rates, jarring capital-gains bills

The annual rite of filing a federal tax return is kicking into full swing, and this time, millions of Americans… Read More »Tax season 2023: Smaller refunds, higher audit rates, jarring capital-gains bills

Life expectancy can have a greater impact than even record-high inflation on how long your retirement savings will last

KEY POINTS Given today’s ongoing high inflation, many Americans worry they may not have put away enough money for retirement.… Read More »Life expectancy can have a greater impact than even record-high inflation on how long your retirement savings will last

Business Chiefs and Economists Brace for Recession as Davos Begins

(Bloomberg) — The World Economic Forum’s annual meeting began in Davos with corporate executives and economists warning a global recession… Read More »Business Chiefs and Economists Brace for Recession as Davos Begins

The mindset that brings unlimited willpower

Many people believe willpower is fixed and finite. Yet powerful strategies exist that can help us increase it. We all… Read More »The mindset that brings unlimited willpower

IRS sets January 23 as the official start to the 2023 tax filing season; more help is available for taxpayers this year

WASHINGTON — The Internal Revenue Service today announced Monday, January 23, 2023, as the beginning of the nation’s 2023 tax… Read More »IRS sets January 23 as the official start to the 2023 tax filing season; more help is available for taxpayers this year

Tax Implications of Owning a Second Home for a Child in College

Housing is only one of the many costs of sending a child to college, but it is also an area… Read More »Tax Implications of Owning a Second Home for a Child in College

Consumer prices fell 0.1% in December, in line with expectations from economists

KEY POINTS Inflation closed out 2022 in a modest retreat, with consumer prices in December posting their biggest monthly decline… Read More »Consumer prices fell 0.1% in December, in line with expectations from economists

When Social Security beneficiaries can expect the first checks of 2023 to include an 8.7% cost-of-living adjustment

KEY POINTS Starting this month, more than 65 million Social Security beneficiaries will receive benefit checks that include a record-breaking 8.7%… Read More »When Social Security beneficiaries can expect the first checks of 2023 to include an 8.7% cost-of-living adjustment

National taxpayer advocate: IRS in better shape now than a year ago

The IRS will begin the 2023 filing season in much better shape than it was a year ago, with a… Read More »National taxpayer advocate: IRS in better shape now than a year ago

2023 Outlook: 4 Charts to Watch

CFOs should be aware of these data points on employment trends, CPI, and productivity going into 2023. FOs are number-centric,… Read More »2023 Outlook: 4 Charts to Watch

78% of Small Businesses Say TikTok Ads Have Boosted Profits

In addition, one in 10 small businesses went viral on TikTok organically, according to a new survey from Capterra. A new… Read More »78% of Small Businesses Say TikTok Ads Have Boosted Profits

Bond Rally Gives Early Win to Wall Street’s 2023 Yield-Curve Bet

(Bloomberg) — Bond-market bulls are getting an early taste of what they expect to be a winning trade of 2023.… Read More »Bond Rally Gives Early Win to Wall Street’s 2023 Yield-Curve Bet

Phishing attacks are increasing and getting more sophisticated. Here’s how to avoid them

KEY POINTS Phishing is on the rise, and anyone who uses email, text messaging, and other forms of communication is… Read More »Phishing attacks are increasing and getting more sophisticated. Here’s how to avoid them

How to balance retirement and emergency savings in a shaky economy

KEY POINTS It’s not easy to prioritize financial goals, especially when choosing between two essentials in an unsteady economy: saving… Read More »How to balance retirement and emergency savings in a shaky economy

Optimism Makes Comeback on Wall Street With Soft Landing Eyed

(Bloomberg) — There wasn’t much sunshine in the stack of Wall Street forecasts that predicted 2023 would bring a global… Read More »Optimism Makes Comeback on Wall Street With Soft Landing Eyed

3 After-Year-End Tax Strategies For Small Businesses

The 2022 tax year has ended and tax professionals everywhere are encouraging their small business clients to close their books… Read More »3 After-Year-End Tax Strategies For Small Businesses

IRS Audits Dropped Slightly in 2022

The IRS divides taxpayers into different examination classes. The IRS sees the typical taxpayer reporting an income of less than… Read More »IRS Audits Dropped Slightly in 2022

Credit card interest rates are heading to 20% on average — here’s the best way to pay down high-interest debt

KEY POINTS Credit card interest rates reached record highs last year and there is still more to come in 2023,… Read More »Credit card interest rates are heading to 20% on average — here’s the best way to pay down high-interest debt

Remote Meetings Up 60% Since 2020: Weekly Stat

Despite return-to-office initiatives and hybrid work models, virtual meetings are still on the rise. Despite some organizations going as far… Read More »Remote Meetings Up 60% Since 2020: Weekly Stat

Key tax and retirement provisions in the Secure 2.0 Act

The Consolidated Appropriations Act, 2023, P.L. 117-328, enacted on Dec. 29 included (as its Division T) the Secure 2.0 Act, which… Read More »Key tax and retirement provisions in the Secure 2.0 Act

Fed minutes: Officials cited strong hiring to justify hikes

WASHINGTON (AP) — Federal Reserve officials suggested at their most recent meeting that a continuing streak of robust hiring could… Read More »Fed minutes: Officials cited strong hiring to justify hikes

Home price increases weakened sharply in November, posting the smallest annual gain in 2 years

KEY POINTS Home prices are falling into a deep winter chill, as higher mortgage rates push more buyers to the… Read More »Home price increases weakened sharply in November, posting the smallest annual gain in 2 years

MFJ taxpayers need to look out for this tax payment SNAFU

If the ‘secondary’ spouse makes a balance-due payment to the IRS, it may not get credited to their account. Taxpayers… Read More »MFJ taxpayers need to look out for this tax payment SNAFU

Get ready for a ‘slowcession’ in 2023, Moody’s says

New York (CNN) — Many CEOs, investors, and consumers are worried about a recession in 2023. But Moody’s Analytics says the more likely scenario… Read More »Get ready for a ‘slowcession’ in 2023, Moody’s says

Big Banks Predict Recession, Fed Pivot in 2023

More than two-thirds of economists at 23 major financial institutions expect the U.S. to have a downturn this year Big… Read More »Big Banks Predict Recession, Fed Pivot in 2023

IRS 2023 Mileage Rate Rises to 65.5 Cents Per Mile

65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the… Read More »IRS 2023 Mileage Rate Rises to 65.5 Cents Per Mile

These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay

KEY POINTS As the calendar turns to 2023, workers in more than half of all states have something to look… Read More »These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay

Tough Tax Law Test for Real Estate Professionals

Generally, investors in activities such as real estate in which they don’t materially participate can only take deductions up to… Read More »Tough Tax Law Test for Real Estate Professionals

Retail sales jump 7.6% during the critical holiday shopping season

Retail sales jumped despite inflation hitting 7.1% in November Retail sales jumped 7.6% during the critical holiday season that runs from Nov.… Read More »Retail sales jump 7.6% during the critical holiday shopping season

When to Expect 2023 IRS Income Tax Refunds – Estimated Date Chart for Tax Refunds

This chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on information we… Read More »When to Expect 2023 IRS Income Tax Refunds – Estimated Date Chart for Tax Refunds

IRS delays Form 1099-K $600 reporting threshold

The IRS on Friday announced a delay in the $600 reporting threshold for third-party settlement organizations, which had been in… Read More »IRS delays Form 1099-K $600 reporting threshold

Brace for Recession Next Year. But the Outlook Isn’t All Doom and Gloom.

The Fed will keep fighting inflation, and the unemployment rate will rise. But there are positive trends on the horizon.… Read More »Brace for Recession Next Year. But the Outlook Isn’t All Doom and Gloom.

US economic growth revised up to 3.2% in the third quarter in a show of resiliency

Third-quarter GDP was previously reported to have increased by 2.9% The U.S. economy grew at a faster pace in the third quarter… Read More »US economic growth revised up to 3.2% in the third quarter in a show of resiliency

High U.S. inflation is on the wane, PCE price gauge shows

Rate of inflation slows again to 5.5% from 6.1% The numbers: A key gauge of U.S. prices rose just 0.1% in… Read More »High U.S. inflation is on the wane, PCE price gauge shows

Deduction of startup expenses

When is a company allowed to report as deductions on a tax return the expenses that have been incurred during… Read More »Deduction of startup expenses

How to Adjust Your Retirement Portfolio Against a 2023 Recession

Consider these seven retirement portfolio management strategies for a recession. The U.S. economy is getting a head start on a… Read More »How to Adjust Your Retirement Portfolio Against a 2023 Recession

Corporate America isn’t afraid of the Fed’s monster rate hikes

The Federal Reserve’s super-sized interest rates are not scaring most companies into cutting back on spending, according to a survey… Read More »Corporate America isn’t afraid of the Fed’s monster rate hikes

After This Year’s Slump, S&P 500 Faces a Historical Warning Sign

Consecutive down years are rare for US stocks, so after this year’s drop, there’s only a low probability they will… Read More »After This Year’s Slump, S&P 500 Faces a Historical Warning Sign

2023 brings lots of news to the IRS while keeping one problem: backlogs

The new year promises many changes for the IRS, including a new commissioner (nominated, at least) and billions of dollars… Read More »2023 brings lots of news to the IRS while keeping one problem: backlogs

4 Ways to Prepare for a Personal Financial Crisis and Keep Goals on Track

An unexpected loss can send you spinning, but knowing where you stand and where to turn financially if something happens… Read More »4 Ways to Prepare for a Personal Financial Crisis and Keep Goals on Track

Will the 60/40 portfolio stage a comeback in 2023?

Putting 60 percent of a portfolio in stocks and 40 percent in bonds is supposed to hedge against both assets… Read More »Will the 60/40 portfolio stage a comeback in 2023?

Here’s how much pay Americans say they’d need to start a new job

The amount of money workers are demanding to switch jobs has been escalating — recently hitting a new eight-year high… Read More »Here’s how much pay Americans say they’d need to start a new job

The average Social Security retirement benefit fell short by 46% in 2022. Here are the costs that went up the most

KEY POINTS Amid record-high inflation, stretching Social Security benefit checks became more difficult in 2022. Even as a 5.9% cost-of-living adjustment went… Read More »The average Social Security retirement benefit fell short by 46% in 2022. Here are the costs that went up the most

Second Marriage – Second Chances

A second marriage means a new financial plan. Read below to see how this couple navigates building one. Second marriages… Read More »Second Marriage – Second Chances

How governments are trying to ease the impact of inflation

Across the world, governments have intervened to mitigate the effects of inflation on businesses and consumers. Price tags are seen… Read More »How governments are trying to ease the impact of inflation

The Loss Harvesting Tax Dodge: Use It Or Lose It

There’s still time. You’ve got two weeks left to take capital losses, using them to cut your 2022 tax bill.… Read More »The Loss Harvesting Tax Dodge: Use It Or Lose It

BlackRock Bucks Bets on Plunging Inflation

BlackRock Inc. thinks markets are too complacent about inflation staying high for longer and is maximizing assets by hedging that… Read More »BlackRock Bucks Bets on Plunging Inflation

Op-ed: Here are 5 questions to ask your financial advisor before the end of the year

KEY POINTS The end of the year is a time to give thanks and celebrate the holidays with our families.… Read More »Op-ed: Here are 5 questions to ask your financial advisor before the end of the year

FASB set to draft crypto asset disclosure standard

FASB made several tentative board decisions Wednesday related to its project on the disclosure of crypto assets, and the board agreed to… Read More »FASB set to draft crypto asset disclosure standard

88% of employers offer a Roth 401(k) — almost twice as many as a decade ago. Here’s who stands to benefit

KEY POINTS The ranks of employers offering a Roth savings option to 401(k) investors continue to grow, giving more workers… Read More »88% of employers offer a Roth 401(k) — almost twice as many as a decade ago. Here’s who stands to benefit

What’s Next for the IRS?

Tax experts sound off on the funding the IRS will get from Congress and what it could mean for the… Read More »What’s Next for the IRS?

Pay IRS Penalties Or Show Reasonable Cause

Taxpayers claim that IRS penalties are not warranted for many reasons. One of the biggest and most misunderstood is the… Read More »Pay IRS Penalties Or Show Reasonable Cause

Here’s why salaries in the U.S. don’t keep up with inflation

Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior… Read More »Here’s why salaries in the U.S. don’t keep up with inflation

5 Top ERC Myths Businesses Need To Beware Of

In 2021, I published a piece about the top myths regarding the Employee Retention Credit (ERC) that was preventing business owners, charity… Read More »5 Top ERC Myths Businesses Need To Beware Of

Federal Reserve raises interest rates by 0.50 percentage points to curb inflation and predicts a higher peak

The Federal Reserve is going slower but aiming higher. The Fed raised its key short-term interest rate by half a percentage… Read More »Federal Reserve raises interest rates by 0.50 percentage points to curb inflation and predicts a higher peak

US Credit-Card Delinquencies to Rise Next Year, TransUnion Says

US credit card and personal-loan delinquencies are likely to rise in 2023 to the highest in a dozen years, with… Read More »US Credit-Card Delinquencies to Rise Next Year, TransUnion Says

How Your Year-End Bonus Will Be Taxed for 2022

Tax withholding rules mean that a portion of your announced bonus pay won’t make it into your bank account. For… Read More »How Your Year-End Bonus Will Be Taxed for 2022

‘It could be a blessing and a curse.’ Here are 3 unexpected financial pitfalls unmarried couples need to know

KEY POINTS SEATTLE — If you’re living together before marriage or committed long-term without plans to tie the knot, you’ll… Read More »‘It could be a blessing and a curse.’ Here are 3 unexpected financial pitfalls unmarried couples need to know

Consumer prices rose less than expected in November, up 7.1% from a year ago

KEY POINTS Prices rose less than expected in November, the latest sign that the runaway inflation that has been gripping… Read More »Consumer prices rose less than expected in November, up 7.1% from a year ago

The trends that will affect CPAs in 2023

Talent, technology, and ESG remain top concerns against a backdrop of economic pessimism. During the past two years, we’ve witnessed… Read More »The trends that will affect CPAs in 2023

Morningstar Raises “Safe” Retirement Withdrawal Rate to 3.8%

Morningstar researchers say higher interest rates and lower equity evaluations will make starting with a 3.8% withdrawal rate safe for… Read More »Morningstar Raises “Safe” Retirement Withdrawal Rate to 3.8%

The IRS Versus The Clumsy Taxpayer

The penalty for fairly innocent goofs can run into millions of dollars. Is there any limit to how unpleasant the… Read More »The IRS Versus The Clumsy Taxpayer

As a record 8.7% Social Security cost-of-living increase starts in 2023, here’s what beneficiaries should look for in annual statements

KEY POINTS As inflation has kept prices high in 2022, Social Security beneficiaries may look forward to a record-high cost-of-living… Read More »As a record 8.7% Social Security cost-of-living increase starts in 2023, here’s what beneficiaries should look for in annual statements

10 Key Things to Think About in Your New Year Financial Planning

2023 is set to be a tough year economically. Here’s how to get your financial and life plans in the… Read More »10 Key Things to Think About in Your New Year Financial Planning

The average American may spend nearly $1,500 on the holidays

’Tis the season to be spending. Holiday retail sales are predicted to soar as high as $960 billion, according to the… Read More »The average American may spend nearly $1,500 on the holidays

PCAOB report: Audit deficiencies increase in 2021

The percentage of audits found to have deficiencies during PCAOB inspections is expected to increase approximately 25% year-over-year, according to… Read More »PCAOB report: Audit deficiencies increase in 2021

Are You Rich? The Answer May Surprise You

Whether you are considered rich depends on how you measure it – and the bar for that is changing. Have… Read More »Are You Rich? The Answer May Surprise You

Taking required minimum distributions? How to reduce the sting of selling in a down market

KEY POINTS The deadline is fast approaching for mandatory retirement plan withdrawals, which may force some retirees to sell assets… Read More »Taking required minimum distributions? How to reduce the sting of selling in a down market

As supply chains unclog, consumers enjoy (tentative) relief

Back in January, 109 container ships waited off the California coast to unload cargo in Los Angeles and Long Beach,… Read More »As supply chains unclog, consumers enjoy (tentative) relief

‘There is a slowdown happening’ – Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes

KEY POINTS American consumers are tapping the brakes on spending as the Federal Reserve’s interest rate increases reverberate throughout the economy, according… Read More »‘There is a slowdown happening’ – Wells Fargo, BofA CEOs point to cooling consumer amid Fed hikes

Renewing a year-end tradition, companies are throwing holiday parties again to bring employees back together

KEY POINTS After two years of Covid-related cancellations and the desire of many companies to bring remote workers back together,… Read More »Renewing a year-end tradition, companies are throwing holiday parties again to bring employees back together

7 Financial Planning Steps to Take at the End of the Year

These moves are good to make at any time of the year, but doing them before 2023 arrives can help… Read More »7 Financial Planning Steps to Take at the End of the Year

CEO economic outlook tumbles to a two-year low

Slower hiring. Weaker spending. And softer growth. That’s what America’s CEOs are bracing for as the economy heads into 2023… Read More »CEO economic outlook tumbles to a two-year low

SPACs Collapse as $11 Billion of Deals Are Called Off Within an Hour

One of the SPAC industry’s most well-known sponsors and a would-be serial backer have seen deals worth $10.6 billion go… Read More »SPACs Collapse as $11 Billion of Deals Are Called Off Within an Hour

When it comes to IPOs, 2022 was nothing like 2021

Experts suspect the IPO market won’t recover until the second half of 2023, if then 2022 was not a good year… Read More »When it comes to IPOs, 2022 was nothing like 2021

You can control your tax-reporting destiny.’ 4 key year-end tax moves

KEY POINTS With the holiday season in full swing, it can be easy to forget about the finer points of… Read More »You can control your tax-reporting destiny.’ 4 key year-end tax moves

37 Money-Saving Resolutions for the New Year

It’s time once again to make a fresh start. That’s the beauty of the New Year. We can all pause… Read More »37 Money-Saving Resolutions for the New Year

IRS Form 1099-K: Will You Get One From Venmo, PayPal, or Cash App?

A new $600 reporting threshold for IRS Form 1099-K involves payment networks like Venmo, PayPal, Amazon, Square, and Cash App.… Read More »IRS Form 1099-K: Will You Get One From Venmo, PayPal, or Cash App?

Fed to Weigh Higher Interest Rates Next Year While Slowing Rises This Month

Brisk wage growth may lead officials to consider raising the policy rate above 5% in 2023 while approving a 0.5-point… Read More »Fed to Weigh Higher Interest Rates Next Year While Slowing Rises This Month

The US economy adds 263,000 jobs in November, better than expected as hiring remains solid

November jobs report provides critical insight into the health of the US labor market U.S. job growth rose faster than… Read More »The US economy adds 263,000 jobs in November, better than expected as hiring remains solid

U.S. consumer spending powers ahead in October; inflation cooling

U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of… Read More »U.S. consumer spending powers ahead in October; inflation cooling

U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says

Central bank’s business contacts saw greater economic uncertainty amid inflation and higher interest rates U.S. economic growth eased this fall… Read More »U.S. Economic Growth Slowed This Fall, Fed’s Beige Book Says

Fed Chief Jerome Powell Signals Slowdown in Rate Hikes: What the Experts Are Saying

Federal Reserve Chair Jerome Powell signaled that the central bank will slow its pace of rate hikes(opens in new tab) next month,… Read More »Fed Chief Jerome Powell Signals Slowdown in Rate Hikes: What the Experts Are Saying

How to avoid mistakes with required minimum distributions from your retirement accounts

KEY POINTS You’ve got about a month left to make sure you get it right when it comes to mandatory… Read More »How to avoid mistakes with required minimum distributions from your retirement accounts

Interest rates increase for the first quarter of 2023

The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning January 1, 2023. For… Read More »Interest rates increase for the first quarter of 2023

The Way We Pay: Cash Isn’t King in These States

There is growing support for going cashless in the United States. Would you like cash back? When the choice comes… Read More »The Way We Pay: Cash Isn’t King in These States

Watching Rates and Inventory as Home Sales Keep Falling

Nine Straight Months In January of this year, the number of single-family homes sold rose month-over-month, according to the National… Read More »Watching Rates and Inventory as Home Sales Keep Falling

Tech Selloff Catches Up With Private Startups

Markdowns of up to 80% help drum up interest in the secondary market for shares in unlisted companies Tech startups… Read More »Tech Selloff Catches Up With Private Startups

5 Tax Moves to Consider Before Year-End

Careful tax planning can mean fewer surprises when it comes time to file. Here are a few tips to consider… Read More »5 Tax Moves to Consider Before Year-End

The great mismatch: Remote jobs are in demand, but positions are drying up

The job market — although still hot — is slowing, and many Americans who had been working from home are… Read More »The great mismatch: Remote jobs are in demand, but positions are drying up

Fed Officials Say More Rate Hikes Coming; Williams Flags Path to Cuts

Federal Reserve policymakers stressed on Monday that they will raise borrowing costs further to curb inflation, with one key official… Read More »Fed Officials Say More Rate Hikes Coming; Williams Flags Path to Cuts

More Consumers Shopped With Apps Than at Malls on Black Friday

Inflation cast a long shadow over Black Friday 2022. Consumer prices rose 7.7% year over year in October, leaving millions of consumers… Read More »More Consumers Shopped With Apps Than at Malls on Black Friday

7 Wash Sale Facts To Know Before Selling Stock For Tax Loss Harvesting

Are you bullish about the stock markets in 2023? If so, you may be looking at year-end strategies to prepare… Read More »7 Wash Sale Facts To Know Before Selling Stock For Tax Loss Harvesting

New York becomes the first state to restrict cryptocurrency mining

New York Gov. Kathy Hochul (D) on Tuesday signed a law temporarily restricting cryptocurrency mining in the state over environmental concerns, making… Read More »New York becomes the first state to restrict cryptocurrency mining

Recession fears receded this earnings season

Investors appear to have traded in their fleece vests for crystal balls — everyone on Wall Street seems to have… Read More »Recession fears receded this earnings season

U.S. Audit Watchdog Looks to Strengthen Rules on Quality Controls

Audit firms would have to report once a year to the Public Company Accounting Oversight Board and their clients’ audit… Read More »U.S. Audit Watchdog Looks to Strengthen Rules on Quality Controls

Bank of America sees bear rally fizzling out even as equity inflows surge

Investors flocked back into equities at the fastest pace in about eight months on signs of cooling inflation, but Bank… Read More »Bank of America sees bear rally fizzling out even as equity inflows surge

JPMorgan Sees ‘Mild’ US Recession in 2023 on Fed’s Rate Hikes

JPMorgan Chase & Co. economists projected the US will enter a “mild” recession next year thanks to interest-rate hikes that… Read More »JPMorgan Sees ‘Mild’ US Recession in 2023 on Fed’s Rate Hikes

Serious cyberattacks on the rise, report shows

The number of organizations hit with cyberattacks is rising, according to a new report focused on US and UK businesses.… Read More »Serious cyberattacks on the rise, report shows

US retail sales rose 1.3% last month, a sign of resilience

Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the… Read More »US retail sales rose 1.3% last month, a sign of resilience

Employee retention credit: Navigating the suspension test

Establishing eligibility for the employee retention credit (ERC) by satisfying the business operations suspension test (suspension test) is similar to… Read More »Employee retention credit: Navigating the suspension test

Taking Retirement Withdrawals in a Declining Market

Retirees often need to take cash out of retirement accounts to handle basic household expenses on a regular basis. If you have… Read More »Taking Retirement Withdrawals in a Declining Market

New Bull Market or Another Bear Market Fakeout?

Last week’s market rally was an across-the-board move higher in asset prices. Not only did the S&P 500 post a… Read More »New Bull Market or Another Bear Market Fakeout?

Economists See US Inflation Running Even Hotter Through Next Year

Economists see US inflation running hotter through next year than they did a month ago and recession odds continue to… Read More »Economists See US Inflation Running Even Hotter Through Next Year

Brainard says U.S. Fed should probably ‘soon’ slow pace of rate hikes

Federal Reserve Vice Chair Lael Brainard said the central bank should soon moderate the size of its interest-rate increases, signaling… Read More »Brainard says U.S. Fed should probably ‘soon’ slow pace of rate hikes

Fed boosts focus on liquidity, other risks as the economy weakens: Barr

Michael Barr, the Federal Reserve’s top regulatory official, said Monday the U.S. central bank is watching for any stresses to… Read More »Fed boosts focus on liquidity, other risks as the economy weakens: Barr

Consumer prices rose 0.4% in October, less than expected, as inflation eases

KEY POINTS The consumer price index rose less than expected in October, an indication that while inflation is still a… Read More »Consumer prices rose 0.4% in October, less than expected, as inflation eases

IRS still coping with millions of unprocessed tax returns

The Internal Revenue Service had 4.4 million unprocessed individual returns received this year as of Oct. 28, including the tax… Read More »IRS still coping with millions of unprocessed tax returns

The 5 biggest takeaways from earnings season

The third-quarter corporate earnings season is wrapping up: We now have reports from about 450 of the S&P 500, or… Read More »The 5 biggest takeaways from earnings season

US consumer inflation eased to 7.7% over the past 12 months

WASHINGTON (AP) — Price increases moderated in the United States last month in the latest sign that the inflation pressures… Read More »US consumer inflation eased to 7.7% over the past 12 months

Op-ed: Here’s a year-end checklist to help you navigate some complicated financial issues

KEY POINTS The end of the year is one of the most important times for investors because there are so… Read More »Op-ed: Here’s a year-end checklist to help you navigate some complicated financial issues

5 Survival Tips for the Bear Market

It’s been a painful year for investors, but focusing on the long term and implementing constructive actions can help weather… Read More »5 Survival Tips for the Bear Market

Fed warns of ‘low’ market liquidity in $24 trillion Treasury market, in latest financial stability report

The Federal Reserve on Friday confirmed what many investors were saying for some time: the $24 trillion Treasury market has… Read More »Fed warns of ‘low’ market liquidity in $24 trillion Treasury market, in latest financial stability report

Wall Street Hopes History Repeats With a Post-Election Comeback

The stock market’s short-term fate is riding on something that’s been a major boon for equities for more than 70… Read More »Wall Street Hopes History Repeats With a Post-Election Comeback

401(k) Plans Now Let Workers Put Retirement Money Into Cryptocurrency

Though employers and regulators remain cautious, some plans are beginning to offer the option A small group of workers is… Read More »401(k) Plans Now Let Workers Put Retirement Money Into Cryptocurrency

Crypto Gloom Deepens on JPMorgan Team’s Venture Capital Warning

A retrenchment in venture capital funding for the digital-asset sector is the latest sign that a long slump in crypto… Read More »Crypto Gloom Deepens on JPMorgan Team’s Venture Capital Warning

IRS Criminal Investigation Had a 90% Conviction Rate in FY 2022

IRS-CI carried out more than 2,550 criminal investigations during its most recent fiscal year, according to a report. IRS Criminal… Read More »IRS Criminal Investigation Had a 90% Conviction Rate in FY 2022

Newly released IRS Data Book numbers confirm the decline in audit rates

Along with frustrating backlogs, declining audit rates have been the topic of many accountant discussions regarding how IRS budget constraints… Read More »Newly released IRS Data Book numbers confirm the decline in audit rates

5 Ways to Fight Inflation’s Impact on Your Retirement Plan

As high inflation persists, so does worry among retirees and workers who are within a few years of retirement. One… Read More »5 Ways to Fight Inflation’s Impact on Your Retirement Plan

Here’s what the Federal Reserve’s fourth 0.75 percentage point interest rate hike means for you

KEY POINTS The Federal Reserve raised the target federal funds rate by 0.75 percentage points for the fourth time in a row on Wednesday,… Read More »Here’s what the Federal Reserve’s fourth 0.75 percentage point interest rate hike means for you

3 More Money Lessons I Learned by Age 40

A financial planner who has seen a lot and reflected on what brings his clients happiness and fulfillment shares some… Read More »3 More Money Lessons I Learned by Age 40

How AI And Machine Learning Quietly Went Mainstream

The bold, hype-laden pronouncements around AI and machine learning were hard to miss five or six years ago. Headlines about robo-accountants… Read More »How AI And Machine Learning Quietly Went Mainstream

U.S. manufacturing activity slowest in nearly 2-1/2 years in October -ISM

U.S. manufacturing activity grew at its slowest pace in nearly 2-1/2 years in October while a measure of prices paid… Read More »U.S. manufacturing activity slowest in nearly 2-1/2 years in October -ISM

Pros and Cons of Renting Versus Owning in Retirement

Here’s how to decide if you are better off renting in retirement or owning a home. When you’re planning to retire,… Read More »Pros and Cons of Renting Versus Owning in Retirement

Growing tax gap shows need for better service, compliance, IRS says

The annual tax gap averaged $496 billion for tax years 2014 through 2016, and that figure is likely to grow,… Read More »Growing tax gap shows need for better service, compliance, IRS says

Silicon Valley’s Share of Startup Deals Drops Below 20% for First Time

The decline comes as entrepreneurs and investors increasingly set up shop outside the tech mecca Silicon Valley accounted for less… Read More »Silicon Valley’s Share of Startup Deals Drops Below 20% for First Time

When to Expect 2023 IRS Income Tax Refunds – Estimated Date Chart for Tax Refunds

This chart shows an estimated timeline for when a taxpayer is likely to receive their refund, based on information we… Read More »When to Expect 2023 IRS Income Tax Refunds – Estimated Date Chart for Tax Refunds

The Frontier: Accountants are drowning in data

Accountants are truly living in the age of data, where sophisticated gathering techniques combine with computer-guided analytics to produce business… Read More »The Frontier: Accountants are drowning in data

IRS hires 4,000 customer service reps, plans to hire 1,000 more

The IRS has hired 4,000 new customer service representatives and plans to hire another 1,000 to be trained to field… Read More »IRS hires 4,000 customer service reps, plans to hire 1,000 more

Bad S&P 500 Earnings Are Playing Right Into the Fed’s Hands

Bad news we received from some mega caps is necessary: Hogan Almost 25% of firms reporting are coming up short… Read More »Bad S&P 500 Earnings Are Playing Right Into the Fed’s Hands

Myths about the ERC

One CPA said the employee retention tax credit is overlooked by many organizations that might be eligible to take advantage… Read More »Myths about the ERC

Euro zone inflation hits record high of 10.7% as growth slows sharply

KEY POINTS Preliminary data on Monday from Europe’s statistics office showed headline inflation came in at an annual 10.7% this… Read More »Euro zone inflation hits record high of 10.7% as growth slows sharply

Yellen Lauds GDP Report as Evidence of ‘Resilient’ Economy

Treasury Secretary Janet Yellen said that while slower growth would help tame inflation, data released Thursday showed the US economy… Read More »Yellen Lauds GDP Report as Evidence of ‘Resilient’ Economy

Key inflation gauge for the Fed rose 0.5% in September, in line with expectations

KEY POINTS The core personal consumption expenditures price index in September increased 0.5% from the previous month and 5.1% from… Read More »Key inflation gauge for the Fed rose 0.5% in September, in line with expectations

FASB seeks input on proposed changes to accounting for joint ventures

FASB issued a proposed Accounting Standards Update (ASU) on Thursday that is intended to provide investors and other allocators of… Read More »FASB seeks input on proposed changes to accounting for joint ventures

Common Retirement Questions: When Should I Begin Taking Social Security?

Retirement Daily’s Robert Powell sits down with Dana Anspach from Sensible Money to tackle the ten most common questions in… Read More »Common Retirement Questions: When Should I Begin Taking Social Security?

7 Big Retirement Risks to Avoid

As people live longer and costs keep climbing, we offer some tips on how to navigate the changing retirement landscape.… Read More »7 Big Retirement Risks to Avoid

63% of Americans are living paycheck to paycheck — including nearly half of the six-figure earners

KEY POINTS With persistent inflation eroding wage gains, the number of Americans living paycheck to paycheck is near a historic… Read More »63% of Americans are living paycheck to paycheck — including nearly half of the six-figure earners

U.S. GDP accelerated at a 2.6% pace in Q3, better than expected as growth turns positive

KEY POINTS Gross domestic product rose 2.6% in the third quarter versus the estimate of 2.3%. A narrowing trade deficit… Read More »U.S. GDP accelerated at a 2.6% pace in Q3, better than expected as growth turns positive

SEC OKs mutual fund, ETF shareholder report, and executive compensation clawback rules

The Securities and Exchange Commission on Wednesday adopted two final rule packages. The first rule, approved in a 5-0 vote, requires… Read More »SEC OKs mutual fund, ETF shareholder report, and executive compensation clawback rules

SPAC Market Update

Lukewarm SPAC market’s fate is intertwined with IPOs It’s clear now that modern reverse mergers between SPACs and low-revenue, high-growth… Read More »SPAC Market Update

Falling Medicare Costs and a Big Social Security COLA? Don’t Get Too Excited

What You Need to Know The 2023 COLA is 8.7%, and Medicare Part B premiums will fall by 3.1%. Long-term… Read More »Falling Medicare Costs and a Big Social Security COLA? Don’t Get Too Excited

Americans now say they will need $1.25 million to retire comfortably, survey finds

KEY POINTS As everyday costs increase, Americans now say it will cost more to retire. Adults now say it will… Read More »Americans now say they will need $1.25 million to retire comfortably, survey finds

IRS initiates pilot program to thwart line-jumping on PPS calls

The IRS has begun a pilot program that is meant to thwart line-jumping services that let those practitioners who pay… Read More »IRS initiates pilot program to thwart line-jumping on PPS calls

Inflation worries hurt U.S. consumer confidence; house prices decelerating

Summary Consumer confidence index falls 5.3 points to 102.5 Labor market differential drops to 32.5 from 38.1 House price gains… Read More »Inflation worries hurt U.S. consumer confidence; house prices decelerating

JPMorgan chief says geopolitics more concerning than a recession

JPMorgan Chase CEO Jamie Dimon said on Tuesday that he is more concerned about today’s geopolitics than a looming recession, following remarks… Read More »JPMorgan chief says geopolitics more concerning than a recession

Fed’s Bullard, and Evans, shows two paths to the same policy rate

Charles Evans and James Bullard are the U.S. Federal Reserve’s longest-serving monetary policymakers, a pair of PhD economists who’ve been… Read More »Fed’s Bullard, and Evans, shows two paths to the same policy rate

Want a big tax break for a Porsche? Better move fast

The hottest tax move right now doesn’t involve a fancy trust or gift to charity. Instead, it centers on a… Read More »Want a big tax break for a Porsche? Better move fast

When is a Roth conversion beneficial?

This article focuses on some of the considerations that investors should assess when determining whether to convert a traditional IRA… Read More »When is a Roth conversion beneficial?

Global Economic Growth Is Weighed Down by Inflation, Rising Interest Rates

Fresh economic data pointed to a slowdown in U.S. and global growth, as higher prices and interest rates weigh on… Read More »Global Economic Growth Is Weighed Down by Inflation, Rising Interest Rates

BofA Economist: ‘I Don’t See How We Avoid a Recession’

Inflation won’t be cooling off until 2023, and there is likely going to be a recession next year, according to… Read More »BofA Economist: ‘I Don’t See How We Avoid a Recession’

Early Earnings Reports Worry Investors Already Battered by Stock Selloff

Hopeful economic signs compete with challenges to profits including inflation, rising rates, and a strong dollar Early results from the… Read More »Early Earnings Reports Worry Investors Already Battered by Stock Selloff

5 Ways Leaders Unconsciously Sabotage Their Own Success

Here are five ways leaders may be hindering their own success without even realizing it. Most of us think leaders… Read More »5 Ways Leaders Unconsciously Sabotage Their Own Success

Confessions of a personal finance reporter (Part Two): 3 more of my worst money mistakes

KEY POINTS I’ve made many money mistakes that I’m not proud of but that may serve as an object lesson… Read More »Confessions of a personal finance reporter (Part Two): 3 more of my worst money mistakes

Retirement account inflation adjustments issued for 2023

The IRS on Friday announced the 2023 inflation-adjusted dollar-amount ceilings and thresholds for a wide range of qualified retirement plans… Read More »Retirement account inflation adjustments issued for 2023

IRS Warns of Third-Party Employee Retention Credit Claims

These third parties often charge large upfront fees or a fee that is contingent on the amount of the refund… Read More »IRS Warns of Third-Party Employee Retention Credit Claims

U.S. existing home sales slide again in September; jobless claims fall

Sales of existing U.S. homes slid for an eighth straight month in September and will likely fall further in the… Read More »U.S. existing home sales slide again in September; jobless claims fall

The 9-to-5 workday doesn’t work anymore

More than 40 years after Dolly Parton sang about it, the “9 to 5” job is on life support. Gone… Read More »The 9-to-5 workday doesn’t work anymore

Fed’s Harker Expects Rates to Be ‘Well Above’ 4% by Year End

Federal Reserve Bank of Philadelphia President Patrick Harker said officials are likely to raise interest rates to “well above” 4%… Read More »Fed’s Harker Expects Rates to Be ‘Well Above’ 4% by Year End

IRS criminal investigators probe COVID fraud

The Internal Revenue Service’s Criminal Investigation unit has been working with the Justice Department to uncover billions of dollars in… Read More »IRS criminal investigators probe COVID fraud

Worried About Layoffs? Understanding How The IRS Taxes Severance Pay Can Help

With the prospect of a recession, people are worried about layoffs. You may get severance pay when you quit your… Read More »Worried About Layoffs? Understanding How The IRS Taxes Severance Pay Can Help

Sustainability and super apps top Gartner’s Top 10 2023 Trends List

Other trends including the metaverse, adaptive AI, and wireless value realization will be coming into vogue in 2023. Because financial… Read More »Sustainability and super apps top Gartner’s Top 10 2023 Trends List

Consumer spending was flat in September and below expectations as inflation takes its toll

KEY POINTS Retail and food services sales in total were little changed in September against the estimate for a 0.3%… Read More »Consumer spending was flat in September and below expectations as inflation takes its toll

IRS Sets Higher 2023 Tax Brackets, Standard Deductions, And Other Inflation Adjustments

The Internal Revenue Service has released dozens of inflation adjustments affecting individual income tax brackets, deductions, and credits for 2023,… Read More »IRS Sets Higher 2023 Tax Brackets, Standard Deductions, And Other Inflation Adjustments

Forecast for U.S. recession within year hits 100%

A U.S. recession is effectively certain in the next 12 months in new Bloomberg Economics model projections, a blow to… Read More »Forecast for U.S. recession within year hits 100%

Delaying big purchases, reducing debt: 76% of adults are making lifestyle changes to prepare for a potential recession

KEY POINTS Eighty-four percent of adults say they are concerned that a recession is on the horizon, a new survey… Read More »Delaying big purchases, reducing debt: 76% of adults are making lifestyle changes to prepare for a potential recession

Understand the tax consequences of remote work

In a post-pandemic world, 16% of companies have gone fully remote. Many workers have embraced and adapted to this new setup. Yet… Read More »Understand the tax consequences of remote work

Student Loan Forgiveness Website Opens

After almost two months since President Joe Biden signed an executive order to forgive some student loans for many Americans,… Read More »Student Loan Forgiveness Website Opens

Oil prices settle lower on U.S. supply, lower China demand

Oil prices settled lower on Tuesday on fears of higher U.S. supply combined with an economic slowdown and lower Chinese… Read More »Oil prices settle lower on U.S. supply, lower China demand

Economists Now Expect a Recession, Job Losses by Next Year

The US will enter a recession in the coming 12 months as the Federal Reserve battles to bring down persistently… Read More »Economists Now Expect a Recession, Job Losses by Next Year

The global economy is in chaos. Nobody’s coming to the rescue.

The global turmoil provides the latest test of U.S. influence over international affairs after the Biden administration sought to re-engage… Read More »The global economy is in chaos. Nobody’s coming to the rescue.

After two years of shipping snarls, things are starting to turn around

KEY POINTS After two years of port congestions and container shortages, disruptions are now easing as Chinese exports slow in… Read More »After two years of shipping snarls, things are starting to turn around

Developments in state income tax nexus for remote sellers

While many recent changes in state nexus rules are associated with sales and use tax, a movement to reframe the… Read More »Developments in state income tax nexus for remote sellers

You Can Apply Now for Biden’s Student Loan Debt Forgiveness

The Biden administration officially launched the 2022 student loan debt forgiveness application and millions have already applied for relief. President… Read More »You Can Apply Now for Biden’s Student Loan Debt Forgiveness

Should I take Social Security at 62 or wait? Here are 3 smart reasons to start getting paid ASAP

Americans nearing retirement know the advice all too well: When it comes to Social Security, good things come to those… Read More »Should I take Social Security at 62 or wait? Here are 3 smart reasons to start getting paid ASAP

Fed’s Bullard says boost to dollar from interest rate hikes may ease

The Federal Reserve’s rapid interest rate increases have contributed to the strength of the dollar against other currencies, but that… Read More »Fed’s Bullard says boost to dollar from interest rate hikes may ease

The number of baby boomers and Generation X who plan to work past age 70—or forever—is stunning

‘Retirement risks faced by workers are greater than ever before’ Almost half of baby boomers and more than one-third of… Read More »The number of baby boomers and Generation X who plan to work past age 70—or forever—is stunning

Where inflation is getting better, and worse

Everybody’s unhappy with the latest inflation report, which shows that the annual change in price increases dropped by just one-tenth of… Read More »Where inflation is getting better, and worse

Delaying big purchases, reducing debt: 76% of adults are making lifestyle changes to prepare for a potential recession

KEY POINTS Eighty-four percent of adults say they are concerned that a recession is on the horizon, a new survey… Read More »Delaying big purchases, reducing debt: 76% of adults are making lifestyle changes to prepare for a potential recession

Worsening inflation will pressure Fed to keep raising rates

Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households,… Read More »Worsening inflation will pressure Fed to keep raising rates

JPMorgan CEO warns higher inflation could push U.S. rates above 4.5%

JPMorgan Chase & Co (JPM.N) Chief Executive Officer Jamie Dimon on Thursday warned that persistent and elevated inflation could spur interest rates… Read More »JPMorgan CEO warns higher inflation could push U.S. rates above 4.5%

Social Security cost-of-living adjustment will be 8.7% in 2023, the highest increase in 40 years

KEY POINTS Social Security beneficiaries can expect an 8.7% boost to benefits in 2023, the Social Security Administration announced. The… Read More »Social Security cost-of-living adjustment will be 8.7% in 2023, the highest increase in 40 years

‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months

KEY POINTS JPMorgan Chase CEO Jamie Dimon said the U.S. economy was “actually still doing well” at present and consumers were likely… Read More »‘This is serious’: JPMorgan’s Jamie Dimon warns U.S. likely to tip into recession in 6 to 9 months

PREVIEW U.S. banks’ Q3 profits set to shrink on economic risks, deal slump

The biggest U.S. banks are expected to report weaker third-quarter profits as the economy slowed and volatile markets put the… Read More »PREVIEW U.S. banks’ Q3 profits set to shrink on economic risks, deal slump

Two Fed Officials Make Case for Caution With Future Interest Rate Raises

Two Federal Reserve officials began laying out a case for exercising caution in raising interest rates after policymakers last month… Read More »Two Fed Officials Make Case for Caution With Future Interest Rate Raises

S&P 500 closes lower, notches 5-day losing streak ahead of key inflation report

U.S. stocks fell Tuesday, reversing gains from earlier in the day as investors looked ahead to key inflation data out… Read More »S&P 500 closes lower, notches 5-day losing streak ahead of key inflation report

Bridgewater’s Dalio warns of a ‘perfect storm’ for economy

Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, said a “perfect… Read More »Bridgewater’s Dalio warns of a ‘perfect storm’ for economy

IRS to target abusive ERTC claims

One of the biggest issues being discussed by the IRS, Congress, and the AICPA is the millions of businesses that… Read More »IRS to target abusive ERTC claims

U.S. Job Openings Fall by 1.1M, a 10% Drop From July

Despite the drop, there is “a lot more job shedding that needs to occur before the Fed feels like its… Read More »U.S. Job Openings Fall by 1.1M, a 10% Drop From July

The Six Best Ways to Give to Charity (And Cut Your Tax Bill)

Giving your money to charity doesn’t have to be a totally selfless act. It can also be a way to… Read More »The Six Best Ways to Give to Charity (And Cut Your Tax Bill)

Recession Approaching?

Our latest Marcum-Hofstra CEO survey shows that 93.6% of CEOs are concerned that the economy will experience a recession in the coming… Read More »Recession Approaching?

Dallas Fed says inflation surge badly eroding many American’s wage gains

Americans’ wages are losing ground to inflation at a steep rate, a report on Tuesday from the Federal Reserve Bank… Read More »Dallas Fed says inflation surge badly eroding many American’s wage gains

FASB proposes improvements to segment reporting

FASB issued a proposed Accounting Standards Update (ASU) on Thursday that is intended to improve disclosures about a public entity’s… Read More »FASB proposes improvements to segment reporting

Making salaries public: More employers are sharing how much jobs pay. Will it close the wage gap?

With new laws from Colorado to Rhode Island, employers are under growing pressure to publicly share how much a job pays.… Read More »Making salaries public: More employers are sharing how much jobs pay. Will it close the wage gap?

People Still Quit Jobs, but More Office Workers Are Staying Put

American workers quit 4.2 million jobs in August, but one type of employee appears to be getting cold feet about… Read More »People Still Quit Jobs, but More Office Workers Are Staying Put

Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong auto Draft

KEY POINTS Nonfarm payrolls increased by 263,000 for the month, short of the Dow Jones estimate of 275,000. The unemployment… Read More »Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong auto Draft

Global VC Pullback Is Dramatic In Q3 2022

The big global venture capital pullback we were all expecting is truly here.  Venture and growth investors in private companies… Read More »Global VC Pullback Is Dramatic In Q3 2022

WTO predicts trade growth to slow next year amid crises

The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as crises and challenges… Read More »WTO predicts trade growth to slow next year amid crises

OPEC+ was rebuked by the U.S. after cutting output to keep prices high

OPEC+ agreed to make a large production cut to keep oil prices high, drawing an immediate rebuke from the U.S. … Read More »OPEC+ was rebuked by the U.S. after cutting output to keep prices high

Fed’s Bostic Favors Raising Rates as High as 4.5% by Year-End

Federal Reserve Bank of Atlanta President Raphael Bostic said he favors lifting interest rates to between 4% and 4.5% by… Read More »Fed’s Bostic Favors Raising Rates as High as 4.5% by Year-End

Job openings plunged by more than 1.1 million in August

KEY POINTS Job openings in August totaled 10.05 million, a 10% drop from the 11.17 million reported in July and… Read More »Job openings plunged by more than 1.1 million in August

CEOs are preparing for a recession, and they don’t think it will be short

Major CEOs aren’t buying the notion that the US economy could have a soft landing following a series of historically… Read More »CEOs are preparing for a recession, and they don’t think it will be short

U.S. Job Openings Fell in August, Layoffs Up Slightly

U.S. employers pulled back sharply on job openings, while layoffs rose in August, adding to signs the labor market and… Read More »U.S. Job Openings Fell in August, Layoffs Up Slightly

‘Excessive’ policy choices could trigger an economic downturn even worse than the 2008 recession, UN agency says

Governments around the world are determined to bring down inflation whatever the cost, but a growing chorus of voices is pointing out… Read More »‘Excessive’ policy choices could trigger an economic downturn even worse than the 2008 recession, UN agency says

Nearly 50% of CEOs Looking at Job Cuts, and 39% have Frozen Hiring: KPMG Survey

The KPMG 2022 CEO Outlook asked more than 1,300 CEOs of the world’s largest businesses about their strategies and outlook.… Read More »Nearly 50% of CEOs Looking at Job Cuts, and 39% have Frozen Hiring: KPMG Survey

Hurricane Ian Victims Granted Tax Extensions

Hurricane Ian victims throughout Florida now have until February 15, 2023, to file various federal individual and business tax returns… Read More »Hurricane Ian Victims Granted Tax Extensions

The IPO Market Is on Track for Its Worst Performance in 30 Years

Venture capital and private equity have left the market, and the third quarter’s proceeds are the lowest since 2008. Move… Read More »The IPO Market Is on Track for Its Worst Performance in 30 Years

Global shipping costs are plunging as the world economy slows

THE COST OF shipping containers is in retreat around the world, as the shortages and bottlenecks that plagued maritime trade throughout much of… Read More »Global shipping costs are plunging as the world economy slows

OPEC+ to consider an oil cut of over 1 million barrels per day

Summary Cuts could include Saudi voluntary reduction Largest cut since the pandemic reduction Oil fell due to rising Fed rates,… Read More »OPEC+ to consider an oil cut of over 1 million barrels per day

US economy drops at a 0.6% annual rate from April through June

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April… Read More »US economy drops at a 0.6% annual rate from April through June

New U.S. National Security Rule Requires Firms to Disclose Key Owners

Millions of companies in the U.S. will have to report primary ownership, in an effort to close anti-money-laundering loopholes Millions… Read More »New U.S. National Security Rule Requires Firms to Disclose Key Owners

U.S. No. 1 target for ransomware

A recent analysis has found that the United States suffers more ransomware attacks than any other country. The United States… Read More »U.S. No. 1 target for ransomware

Tax Collections Are Up 23% As Inflation, Wages, And Profits Rise

Tax collections this year in the U.S. are up 23% compared to last year, according to a new study by… Read More »Tax Collections Are Up 23% As Inflation, Wages, And Profits Rise

CFOs See Higher Costs and Lack of Skilled Labor; Reduce Outlook for Growth

Financial decision-makers lowered their expectations for real growth in gross domestic product during the third quarter amid concerns over inflation… Read More »CFOs See Higher Costs and Lack of Skilled Labor; Reduce Outlook for Growth

Fed’s Kashkari Says Rate-Hike Pace ‘Appropriate’ to Cool Prices

Minneapolis Fed chief says need to hike until inflation falls Get to policy that restraining economy and then be ‘patient’… Read More »Fed’s Kashkari Says Rate-Hike Pace ‘Appropriate’ to Cool Prices

Supply Chain Pressures Keep Inventories High in Q2

Inconsistent lead times and shipping delays force companies to maintain inventory buffers. Efficient handling of working capital frees up cash… Read More »Supply Chain Pressures Keep Inventories High in Q2

Crypto M&A Slows As Its Own Type Of Winter Sets In

The special per diem rates by which taxpayers may substantiate ordinary and necessary business expenses of travel away from home… Read More »Crypto M&A Slows As Its Own Type Of Winter Sets In

ESG funds are ‘definitely at a crossroads’: EY executive

When the United Nations (UN) first laid out principles for environmental, social, and corporate governance (ESG) investing in 2006, then-Secretary General Kofi… Read More »ESG funds are ‘definitely at a crossroads’: EY executive

This IRS Tax Form Can Cost You 24%

An IRS Form W-9 verifies your taxpayer ID number, typically your Social Security Number, or for a company, your employer… Read More »This IRS Tax Form Can Cost You 24%

Analysis: A crowd of dollar bulls raises the risk of a violent pullback

Some investors are growing concerned the dollar’s meteoric rise is setting the stage for a rapid reversal, which would bruise… Read More »Analysis: A crowd of dollar bulls raises the risk of a violent pullback

Colorado now accepts crypto for taxes

The state has become the first in the U.S. to accept cryptocurrency for tax payments. Colorado has become the first… Read More »Colorado now accepts crypto for taxes

The new minimum tax could hit Berkshire Hathaway and Amazon hardest, a study shows

KEY POINTS The UNC Tax Center used 2021 financials to predict the effect of the Inflation Reduction Act’s minimum corporate… Read More »The new minimum tax could hit Berkshire Hathaway and Amazon hardest, a study shows

UK Market Selloff Slams Gilts, Pound, Piling Pressure on BOE

Currency’s plunge sparks talk of emergency central bank action UK 10-year yield rises above 4% for the first time since… Read More »UK Market Selloff Slams Gilts, Pound, Piling Pressure on BOE

The IPO market went from ‘boom to bust in 2022. Here’s what’s driving the massive slowdown

From the best of times to the worst of times: The market for initial public offerings has fallen off a… Read More »The IPO market went from ‘boom to bust in 2022. Here’s what’s driving the massive slowdown

Crypto M&A Slows As Its Own Type Of Winter Sets In

After a fast start to the year, M&A deal-making in crypto has hit its own type of “winter.” Earlier this… Read More »Crypto M&A Slows As Its Own Type Of Winter Sets In

The Independent Contractor Dilemma

Gig economy companies classifying their workers as independent contractors continue to face lawsuits, state action, and federal agency enforcement For… Read More »The Independent Contractor Dilemma

85% of Companies Still Actively Hiring Despite Recession Fears: Weekly Stat

Less than one-third of HR professionals are preparing for an economic slowdown, according to a new study. While CFOs are… Read More »85% of Companies Still Actively Hiring Despite Recession Fears: Weekly Stat

Fed Signals No Letup in Inflation-Fighting Rate Increases

While Fed officials predict rates going higher than had been expected, we still see rates coming down by the end… Read More »Fed Signals No Letup in Inflation-Fighting Rate Increases

Here’s what the Federal Reserve’s third 75 basis point interest rate hike means for you

KEY POINTS The Federal Reserve raised interest rates by three-quarters of a point, citing persistent inflation. Everything from mortgages and credit… Read More »Here’s what the Federal Reserve’s third 75 basis point interest rate hike means for you

Using Your 401(k) to Delay Getting Social Security and Increase Payments

Your 401(k) can be a bridge from retirement to a higher monthly income. Although you can start collecting Social Security… Read More »Using Your 401(k) to Delay Getting Social Security and Increase Payments

CFO optimism is declining as cost concerns rise

If CFOs had a Magic 8 Ball, it would read: “Outlook not so good.” There is a severe decline in… Read More »CFO optimism is declining as cost concerns rise

Who Actually Qualifies for the Employee Retention Credit?

Even companies that have claimed the ERC may want to review their documentation of qualification for the credit. The Employee… Read More »Who Actually Qualifies for the Employee Retention Credit?

Fed Raises Interest Rates by 0.75 Percentage Point for Third Straight Meeting

The Federal Reserve approved its third consecutive interest-rate rise of 0.75 percentage points and signaled additional large increases were likely even though… Read More »Fed Raises Interest Rates by 0.75 Percentage Point for Third Straight Meeting

52% of Workers are Content with Their Jobs

As part of the survey, employees also shared which incentives they value most that keep them engaged and loyal to… Read More »52% of Workers are Content with Their Jobs

Mortgage demand rises for the first time in six weeks, despite sharply higher interest rates

KEY POINTS The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to… Read More »Mortgage demand rises for the first time in six weeks, despite sharply higher interest rates

U.S. Retirees Aren’t Waiting Till Age 70 to Collect Social Security

There’s big money in waiting to collect Social Security, but most U.S. seniors leave that cash on the table. The… Read More »U.S. Retirees Aren’t Waiting Till Age 70 to Collect Social Security

Boomer’s remorse: Here are the top 5 ‘big money’ purchases you’ll (probably) really regret in retirement

One surprise that hits retirees in their first few years is that even without the costs of working and contributing… Read More »Boomer’s remorse: Here are the top 5 ‘big money’ purchases you’ll (probably) really regret in retirement

Delta, JetBlue: Corp. Travel Ramping Up, No Cracks in Demand

Delta Air Lines and JetBlue Airways each have seen business travel ramp up again in September, with no discernible “cracks”… Read More »Delta, JetBlue: Corp. Travel Ramping Up, No Cracks in Demand

Rising Interest Rates Squeeze Stocks on Both Sides, Constraining Earnings, Multiples

Stocks fell and government bond yields rose to multiyear highs Tuesday ahead of the next decision by the Fed’s rate-setting… Read More »Rising Interest Rates Squeeze Stocks on Both Sides, Constraining Earnings, Multiples

Morgan Stanley, Goldman Sachs Warn of Mounting Risks for US Earnings

Higher rates and shrinking margins are among key concerns Goldman likes companies with the highest returns on capital After a hotter-than-expected inflation… Read More »Morgan Stanley, Goldman Sachs Warn of Mounting Risks for US Earnings

Federal Reserve under pressure to back up hawkishness with rate projections

US central bank to publish first ‘dot plot’ since June after months of persistently high inflation Federal Reserve officials are… Read More »Federal Reserve under pressure to back up hawkishness with rate projections

EXPLAINER: How the strong U.S. dollar can affect everyone

The buck isn’t stopping. The value of the U.S. dollar has been on a tear for more than a year… Read More »EXPLAINER: How the strong U.S. dollar can affect everyone

Central banks set to hit peak rates at a faster pace

Markets are increasingly betting on policymakers raising borrowing costs higher and faster Investors are pricing in a sharper surge in… Read More »Central banks set to hit peak rates at a faster pace

10-year Treasury yield jumps to 3.51%, the highest level since 2011

Treasury yields climbed on Monday as traders anticipated the Federal Reserve’s next moves in the face of persistently high inflation.… Read More »10-year Treasury yield jumps to 3.51%, the highest level since 2011

The ‘taxing’ complication of cryptocurrency

Investors who were lucky enough to hop on the cryptocurrency bandwagon ahead of its sharp rise in popularity were also… Read More »The ‘taxing’ complication of cryptocurrency

US wholesale inflation declined in August to still-high 8.7%

Inflation at the wholesale level jumped 8.7% in August from a year earlier, a slowdown from July yet still a… Read More »US wholesale inflation declined in August to still-high 8.7%

IRS’s extra enforcement funding brings audit worries

Taxpayers are concerned the extra $80 billion will lead to more tax audits The additional $80 billion in funding over… Read More »IRS’s extra enforcement funding brings audit worries

US 2- to 30-Year Curve Reaches Most Inverted Level This Century

The premium of the two-year Treasury yield over the comparable 30-year benchmark increased to a level unseen this century after… Read More »US 2- to 30-Year Curve Reaches Most Inverted Level This Century

WHAT IS ‘QUIET QUITTING’?

From Bartleby, the Scrivener telling his 18th-century employer “I would prefer not to” to George Costanza setting up a nap station beneath his… Read More »WHAT IS ‘QUIET QUITTING’?

There could be a record high Social Security cost-of-living adjustment in 2023, but it’s not set in stone: 3 things to watch

KEY POINTS The Social Security cost-of-living adjustment for 2023 could be 8.7%, according to a new estimate from The Senior… Read More »There could be a record high Social Security cost-of-living adjustment in 2023, but it’s not set in stone: 3 things to watch

IRS delays in processing NOL refund claims cost taxpayers millions in interest

The Internal Revenue Service’s backlog is having an impact in many areas, including the handling of noncorporate applications for refund… Read More »IRS delays in processing NOL refund claims cost taxpayers millions in interest

Sliding Earnings Forecasts Pose Next Test for Markets

Stocks are riding a tentative recovery, with the S&P 500 up 1.1% on Monday, but whether they can keep their… Read More »Sliding Earnings Forecasts Pose Next Test for Markets

Stubbornly high rents and food prices boost U.S. inflation in August

Summary The consumer price index rises 0.1% in August Rents, food, and healthcare account for the increase in CPI Core… Read More »Stubbornly high rents and food prices boost U.S. inflation in August

Fed set for another 75-basis-point rate hike; early pivot unlikely: Reuters poll

The Federal Reserve will deliver another 75-basis-point interest rate hike next week and likely hold its policy rate steady for… Read More »Fed set for another 75-basis-point rate hike; early pivot unlikely: Reuters poll

Finance Chiefs Struggle to Set Guidance as Economy Flashes Mixed Signals

Finance chiefs are finding it harder to peg yearly guidance as they struggle for visibility on the direction of the… Read More »Finance Chiefs Struggle to Set Guidance as Economy Flashes Mixed Signals

Congress And IRS Need To Focus On Those Backlogged Employee Retention Credit Claims

The Employee Retention Credit (ERC) remains one of the best tax benefits out there for small and medium businesses –… Read More »Congress And IRS Need To Focus On Those Backlogged Employee Retention Credit Claims

U.S. SEC to set up a new office for crypto filings

The U.S. securities regulator will set up two new offices to deal with filings related to crypto assets and the… Read More »U.S. SEC to set up a new office for crypto filings

Is it possible to save too much for retirement? Here are the top 3 signs you’re going way overboard

When it comes to retirement, you can’t save enough money — until you do. Saving for a post-work world is… Read More »Is it possible to save too much for retirement? Here are the top 3 signs you’re going way overboard

Slower Inflation Unlikely to Sway Fed From Another Jumbo Hike

US inflation likely slowed for a second month in August as gas prices continued to drop, but that probably won’t… Read More »Slower Inflation Unlikely to Sway Fed From Another Jumbo Hike

Converting an S Corp to a C Corp

Whatever structure your clients launched with, at some point, for various reasons, changing structures may become a valid consideration. Many… Read More »Converting an S Corp to a C Corp

Eurozone interest rates in record rise to fight inflation

The European Central Bank has announced a record rise in eurozone interest rates as it seeks to fight inflation. Prices… Read More »Eurozone interest rates in record rise to fight inflation

IRS Audits With No Time Limit And No Statute Of Limitations

With up to 87,000 new IRS agents on the way now that the Inflation Reduction Act is unleashing a Tougher IRS, there’s… Read More »IRS Audits With No Time Limit And No Statute Of Limitations

The U.S. is on track for a soft landing, Goldman Sachs chief economist says

It’s too soon to declare victory, but Federal Reserve Chair Jerome Powell is on track to navigate the U.S. economy… Read More »The U.S. is on track for a soft landing, Goldman Sachs chief economist says

Fed’s Brainard: Rates to rise higher, stay elevated longer

The Federal Reserve will need to continue lifting its short-term interest rate to a level that restricts economic growth and… Read More »Fed’s Brainard: Rates to rise higher, stay elevated longer

IRS continued to delay business tax refunds from pandemic

The Internal Revenue Service has been slow in processing employer tax credits and tax refunds that businesses were supposed to… Read More »IRS continued to delay business tax refunds from pandemic

Mortgage demand drops further as interest rates shoot back to June high

KEY POINTS The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 5.94% last week… Read More »Mortgage demand drops further as interest rates shoot back to June high

Gallup Poll: ‘Quiet Quitters’ Make Up Half of the U.S. Workforce

Gen Z and younger millennials under 35 are one cohort that has seen a large drop in employee engagement. About… Read More »Gallup Poll: ‘Quiet Quitters’ Make Up Half of the U.S. Workforce

OPEC+ agrees to make a token supply cut to steady the oil market

OPEC+ agreed to make a token oil supply cut for October, a surprise moves that shows the alliance is seeking… Read More »OPEC+ agrees to make a token supply cut to steady the oil market

Fed’s Long-Sought Neutral Goal Proves Elusive and Moving Target

A shift is underway at the Federal Reserve in how to describe neutral — the interest-rate level that neither stimulates… Read More »Fed’s Long-Sought Neutral Goal Proves Elusive and Moving Target

U.S. Dollar Strength Lifts Americans’ Relative Spending Power

Inflation is high, but U.S. consumers’ relative purchasing power has never been higher. An index that considers inflation when measuring… Read More »U.S. Dollar Strength Lifts Americans’ Relative Spending Power

Single workers, families, retirees: How much cash you need in an emergency fund at every career stage, according to advisors

KEY POINTS If you’re feeling unsteady amid stock market volatility, high inflation, and rising interest rates, you may wonder how… Read More »Single workers, families, retirees: How much cash you need in an emergency fund at every career stage, according to advisors

Payrolls rose 315,000 in August as companies keep hiring

KEY POINTS Nonfarm payrolls rose by 315,000 jobs in August, just below the Dow Jones estimate of 318,000. The unemployment… Read More »Payrolls rose 315,000 in August as companies keep hiring

Dollar Gauge Rallies to Record High as Yen Cracks Key 140 Mark

The yen tumbled to its weakest level since 1998 against the US currency Greenback supported after jobless claims, manufacturing data… Read More »Dollar Gauge Rallies to Record High as Yen Cracks Key 140 Mark

How To Avoid State Tax On Student Debt Forgiveness