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

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

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

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

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

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

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

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

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

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

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.

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

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

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

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

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

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

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

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

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?

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

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

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

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

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 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

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

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

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

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

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 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%

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

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

’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

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

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

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

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

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

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

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

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

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

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

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

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

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?

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

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 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

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

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

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

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

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

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

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

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 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

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

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

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 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

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

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

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 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

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

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

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

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

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?

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

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

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

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

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

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

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

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

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-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

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

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

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

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

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 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

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

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

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

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

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

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 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

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

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

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 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 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

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?

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

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

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

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

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

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

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

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

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 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

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

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

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?

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

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’

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

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

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

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

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

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

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

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

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

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

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

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

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

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%

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

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

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 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

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 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.

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

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

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

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

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

‘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

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

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

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 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%

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

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

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 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

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

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

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

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

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)

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+ 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

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

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

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. 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

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

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

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

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

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

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

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 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

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

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

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

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

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

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%

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

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

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

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

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

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

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

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

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

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

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

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

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?

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

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

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

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

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 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

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

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

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

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

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

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

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

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%

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

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

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’?

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

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

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

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

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 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

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

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

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

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

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

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

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 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

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

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+ 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

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

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

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

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

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

There was some rain on the parade of celebration of the student loan debt forgiveness. The Tax Foundation, perhaps with… Read More »How To Avoid State Tax On Student Debt Forgiveness

Summary Snap jumps as it restructures ad business, lays off staff Bed Bath & Beyond sinks on a corporate overhaul… Read More »Wall Street ends August with a whimper on Fed worry

The number of people who applied for unemployment benefits at the end of August fell to a nine-week low of… Read More »Jobless claims tumble to a nine-week low of 232,000. U.S. layoffs are still historically low.

The budget reconciliation bill, P.L. 117-169, known as the Inflation Reduction Act, was signed into law on Aug. 16. It… Read More »A deeper dive into the Inflation Reduction Act’s tax provisions

KEY POINTS Euro zone inflation hit a new record high in August at 9.1%. The rate was above expectations, with… Read More »Euro zone inflation hits another record of 9.1% as food and energy prices soar

There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. labor market… Read More »Job openings top 11.2 million in July, well above estimate and nearly double the available workers

Workers of U.S. small businesses continue to benefit from higher wages, according to the latest Paychex | IHS Markit Small… Read More »Hourly Wage Growth Increases

The Federal Reserve is on track to deliver an instant payment service called FedNow between May and July 2023, the… Read More »Fed’s instant payment service ‘FedNow’ is set to launch by July 2023

The FedNow system is supposed to be a cheaper option than wire transfers or debit card transaction fees. A Federal Reserve official… Read More »Federal Reserve says a real-time payment system could begin as early as May 2023

With the pandemic-fueled demand for more workplace flexibility, could the four-day workweek become the norm in American business? Three Wharton… Read More »Can the U.S. Embrace a Four-day Workweek?

Federal Reserve chair says central bank ‘must keep at it until the job is done on inflation US stocks tumbled… Read More »US stocks tumble more than 3% after Powell stands firm on rate rises

The pace of consumer price gains slowed, though it stayed near a four-decade high Inflation decelerated in July, measured by… Read More »Inflation Eased in July, According to the Fed’s Preferred Measure

Second quarter GDP contracted 0.6%, better than the prior estimate Gross domestic income rose at a 1.4% pace, and spending… Read More »Key US Growth Measures Diverge, Complicating Recession Debate

A measure of US profit margins has reached its widest since 1950, suggesting that the prices charged by businesses are… Read More »US Corporate Profits Soar, Taking Margins to Widest Since 1950

The increase for 2023 may rise even higher as insurance carriers price record inflation into employers’ renewal rates, per a… Read More »Employers Project 5.6% Jump in Health Benefit Costs

The SEC on Thursday adopted amendments that require specific disclosures about the relationship between a public company’s executive compensation and its financial… Read More »SEC adopts ‘pay versus performance’ disclosure rules

KEY POINTS Borrowers who will benefit from student loan forgiveness won’t need to worry about getting hit with a federal… Read More »Here’s what President Biden’s student loan forgiveness means for your taxes

A broad range of tax and information returns for the 2019 and 2020 tax years will receive automatic relief from… Read More »IRS relieves penalties for 2019 and 2020

Pass-through effects have increased during the pandemic Imported input prices have a larger effect on US inflation US consumer inflation,… Read More »Inflation Gets a Boost From Higher Wages and Import Prices, New York Fed Study Says

US business activity contracted for a second straight month in August, reflecting softer demand at both manufacturers and service providers… Read More »US Business Activity Contracts Again, Weakest Since May 2020

The Inflation Reduction Act only offers tax credits on electric vehicles assembled in North America. Those looking to purchase an electric… Read More »Which Vehicles Qualify for New $7,500 Electric Vehicle Tax Credit?

KEY POINTS Sales of existing homes were down last month by 20.2% to 4.8 million properties from 6 million a… Read More »We’re in a ‘housing recession,’ experts say. Here’s what that means for homeowners, sellers, and buyers

Inflation, rising interest rates, and Russia’s invasion of Ukraine sent shock waves through the stock market, putting a freeze on… Read More »IPO Market Faces Worst Year in Two Decades. ‘Really Hard Pill to Swallow.’

Workers are less satisfied with their wages as inflation erodes buying power The number of Americans quitting their jobs for… Read More »Fewer Americans are switching to new jobs, NY Fed survey shows

As the prices of many goods and services continue to skyrocket, there’s been a ton of media coverage on the… Read More »Inflation is through the roof: How the Consumer Price Index measures the cost of living

Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month… Read More »America just got a $100-a-month raise

Federal Reserve Chairman Jerome Powell will use his closely-watched Jackson Hole speech this week to stress that the central bank… Read More »Fed Jackson Hole preview: Powell to stress a recession won’t stop Fed’s fight against high inflation

The U.S. Supply Chain Index in July was back above neutral for the first time in nearly three years on… Read More »RSM U.S. Supply Chain Index: Back to normal for the first time since the pandemic hit

Dive Brief: The U.S. economy probably will not grow this quarter and, after more weakening, may fall into a brief… Read More »The U.S. may fall into recession by early 2023: Conference Board

Dive Brief: Federal Reserve officials last month affirmed their goal of curbing inflation to 2% and favored further increases in… Read More »Fed planned more tightening while noting the risk of going too far

The Inflation Reduction Act that President Biden signed into law this week has a lesser-known provision that could benefit many… Read More »Inflation Reduction Act potentially doubles R&D tax credit

That jump may lead to an increase in tax reporting requirements for companies, according to a recent analysis by tax… Read More »A surge in gig work is evident from 1099 filings

If your organization isn’t letting people go, the one next door probably is. That’s a key finding from a survey… Read More »Layoffs Are Planned at Half of US Companies, PwC Survey Shows

Data from Fidelity found the number of seven-figure retirement accounts down sharply after stocks cratered in the first half of… Read More »Stock Market Plunge Punished 401(k) Millionaires

Rule of 20 has a ‘perfect track record,’ bank strategists say Another indicator from CFRA signals that the market bottom… Read More »BofA Quants Say a Winning Stock Signal Is Bad Omen for Bulls

Federal Reserve officials at their July meeting indicated they likely would not consider pulling back on interest rate hikes until inflation came… Read More »Fed sees interest rate hikes continuing until inflation eases substantially, minutes show

Internal Revenue Service Commissioner Chuck Rettig is promising not to use the nearly $80 billion his agency will be receiving… Read More »IRS pledges not to use the extra funding to audit lower-income taxpayers

KEY POINTS Tips for wait staff and cashiers haven’t taken a hit despite inflation, according to new data. Aggregated sales… Read More »People aren’t cutting back on tips even as inflation surges

KEY POINTS Retail sales for July were flat, compared with the estimate for a 0.1% gain. Excluding autos, sales increased… Read More »Retail sales little changed in July amid a fall in gas prices and a drop in auto sales

KEY POINTS President Joe Biden signed the Inflation Reduction Act into law The new law passed with majority Democratic support… Read More »Biden signs the Inflation Reduction Act into law, setting 15% minimum corporate tax rate

Once-hot blank-check firms have fallen out of favor alongside cryptocurrencies and other speculative investments SPACs were one of the hottest investments… Read More »SPAC Activity in July Reached the Lowest Levels in Five Years

The increase for 2023 may rise even higher as insurance carriers price record inflation into employers’ renewal rates, per a… Read More »Employers Project 5.6% Jump in Health Benefit Costs

The interest rates the Internal Revenue Service uses will go up for the quarter beginning Oct. 1, the agency said.… Read More »IRS interest rates increase for Q4

A number of EVs should become more affordable, but only after a “subsidy winter” when far fewer cars will qualify.… Read More »New Electric Car Tax Credits Are About to Radically Change Buying EVs

An account of the debate at the Federal Reserve’s July policy meeting,set to be published after two weeks of whiplash… Read More »Fed Minutes May Reveal Inclinations on Size of Next Rate Hike

People want to hear from JPMorgan (JPM) CEO Jamie Dimon. He’sinsightful, provocative, and never boring. So it’s little wonder that… Read More »Jamie Dimon sounds off on… almost everything: Morning Brief

An end to corporate America’s record stock-buying spree is givingequity bulls one more thing to worry about. JPMorgan Chase &… Read More »Stock Market Recovery Faces a New Hurdle as Record Buybacks Slow

Venture-capital firms are sitting on a record cash pile. Theirso-called dry powder—money raised but not deployed—has increased bymore than $100… Read More »Venture Capital’s Cash Stockpile Swells Amid Slowdown

A new poll found that a majority of voters (76%) weren’t worried aboutthe prospect of being audited by the IRS.… Read More »Most Americans: ‘I’ve Got 99 Problems, But an IRS Audit Ain’t One

KEY POINTS The Federal Reserve is unlikely to pivot from its hawkish interestrate hikes despite positive signs this week that… Read More »Fed expected to stick with hawkish rate hikes until data show further slowing in inflation

Tax planning for real estate activities often involves a myriad of taxconsiderations. For example, if the real estate produces a… Read More »Rental Activity and Self-Employment Tax

House Democrats on Friday approved a sprawling bill to lowerprescription drug costs, address global warming, raise taxes on somebillion-dollar corporations,… Read More »House passes Inflation Reduction Act, sending climate and health bill to Biden

Summary World demand growth to slow to 3.1 million bpd in 2022In contrasts with IEA, which raised its demand outlookOPEC… Read More »OPEC, in contrast to IEA, sees lower 2022 oil demand growth

Market volatility triggered by Russia’s invasion of Ukraine andsoaring global interest rates have forced investors to pull back frombacking initial… Read More »Factbox: U.S. IPO activity plunges as Ukraine war triggers volatility

Summary Fed now seen delivering 50 bps hike in SeptemberU.S. consumer price growth slows in JulyMusk sells Tesla shares worth… Read More »Wall Street rally lifts Nasdaq 20% from low as inflation fears ebb

Consumers struggling with skyrocketing prices for food, gas, autos,and rent got a tantalizing hint of relief last month when pricesdidn’t… Read More »EXPLAINER: Mixed US inflation signs. Where are prices going?

Workers’ wages are rising briskly, a factor contributing tofour-decade high U.S. inflation. Average hourly earnings grew 5.2% in July from… Read More »Rapid Wage Growth Keeps Pressure on U.S. Inflation

Small and medium-sized businesses (SMBs) are known as the backbone ofthe U.S. economy and play a major role in most… Read More »4 Ways SMBs Can Recession-Proof Their Businesses

The Internal Revenue Service has released a draft version of Form 1040for next tax season, with an expanded question about… Read More »IRS expands crypto question on a draft version of 1040

KEY POINTS The consumer price index rose 8.5% in July from a year ago, belowexpectations, due largely to slumping energy… Read More »Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit

KEY POINTS A new Wells Fargo analysis looked at the best 20 days for the S&P 500between August 1992 and… Read More »On rare days, the market rises 5% — or even 10%, Wells Fargo finds. How to make sure you’re there for it

President Joe Biden signed two bills on Friday that give the federalgovernment more time to catch and prosecute fraud related… Read More »Bills extend the statute of limitation for prosecuting PPP, and EIDL fraud

By a vote of 51 to 50, the U.S. Senate on Sunday passed a budgetreconciliation bill, H.R. 5376, now known… Read More »Key tax provisions in the Senate reconciliation bill

KEY POINTS Senate Democrats on Sunday passed their climate, health, and taxpackage, including nearly $80 billion in funding for the… Read More »Reconciliation bill includes nearly $80 billion for IRS including enforcement, audits: What that means for taxpayers

One doesn’t have to be the loneliest number anymore. For years, soleproprietors weren’t able to choose from as wide a… Read More »Solo 401(k) Plans: Looking Out for Number One

When we think of penalties we naturally think of punishment.  I mean,to channel Steven Wright, if a penalty is not… Read More »Lesson From The Tax Court: Non-Receipt of 1099 Does Not Get You Out of Penalties

The biggest US companies keep stepping up their spending on capitalprojects and encouraging signals to investors in an uncertain economicclimate.… Read More »Companies From Google to Pepsi Are Boosting Capital Spending

The recent scam appears to cut across Intuit’s cloud and desktopproducts. In a worrying development pointing to the increasingsophistication of… Read More »Intuit Issues Phishing Warnings to QuickBooks Users

Stress on global supply chains eased in July to the lowest level sinceJanuary 2021 as port congestion and other snags… Read More »Global supply chain stress at 18-month low in July, NY Fed’s index shows

National Taxpayer Advocate Erin Collins is protesting a decision byInternal Revenue Service officials to postpone the implementation ofscanning technology by… Read More »Taxpayer advocate appeals IRS decision to delay scanning tech

Gig economy companies classifying their workers as independentcontractors continue to face lawsuits, state action, and federalagency enforcement  For much… Read More »The Independent Contractor Dilemma

The IRS is continuing to hone its filters to catch business identitytheft and tax fraud, using 84 selection filters last… Read More »IRS adding more filters trying to catch business tax fraud

US household debt increased by 2% to $16.2 trillion in the secondquarter, with mortgages, auto loans, and credit-card balances allseeing… Read More »US Household Debt Surpasses $16 Trillion on Higher Mortgages

The Federal Reserve is “nowhere near” being almost done in fightingthe hottest inflation in four decades, and officials are fullycommitted… Read More »Fed ‘Nowhere Near’ Finished With Inflation Fight, Daly Says

Equifax this spring sent out incorrect credit scores for millions ofcustomers applying for home and auto loans, the Wall Street… Read More »Equifax issued wrong credit scores for “millions” of customers, report says

KEY POINTS Despite seeing real wage gains this year, Americans must contend witha higher cost of living, which is growing… Read More »Credit card balances jump 13%, the highest leap in over 20 years, as inflation outpaces wage growth

Someone in Illinois bought the winning ticket, and if he or she doeslike most winners, they will take the lump… Read More »Winner Of $1.28 Billion Lottery Gets $433.7 Million After Tax

JPMorgan Chase & Co.’s Marko Kolanovic is quickly emerging as one ofthe very few bulls among Wall Street’s top strategists,… Read More »JPMorgan’s Kolanovic stands apart in saying stocks will rebound

KEY POINTS Home price gains are cooling fast, as demand wanes and supply builds.The annual rate of price appreciation fell… Read More »Home prices cooled at a record pace in June, according to housing data firm

Employers continued hiking workers’ pay at a brisker-than-expectedpace, but the increases still weren’t enough to compensate for theeven faster rise… Read More »Workers’ wages continue to climb, but not as fast as inflation

With the busiest week of the second-quarter earnings season over,investors are relieved that results are holding up better than feared,according… Read More »Goldman’s Kostin Says US Results Season Better Than Feared

The Internal Revenue Service admitted that some married couplesreceived an erroneous balance due notices for their 2021 tax returns. The… Read More »IRS sent incorrect balance due notices to couples

The stock market is wrestling with a “bad news is actually good news” scenario. US gross domestic product shrank in… Read More »Stock Market Has No Fear of a Recession That’s Almost Priced In

KEY POINTS The U.S. economy shrank for a second straight quarter, one definitionof a recession, the Bureau of Economic Analysis… Read More »U.S. economy continues to shrink and many aren’t prepared for an economic downturn. Here’s what advisors are telling clients as recession fears grow

One of the Treasury markets more widely watched yield-curve indicatorsextended its inversion after the Federal Reserve’s decision to liftits benchmark… Read More »Widely Watched Yield Curve at Most Inverted in Decades After Fed Hike

KEY POINTS The Federal Reserve on Wednesday enacted its second consecutive 0.75percentage point interest rate increase, taking its benchmark rate… Read More »Fed hikes interest rates by 0.75 percentage points for the second consecutive time to fight inflation

KEY POINTS Gross domestic product fell 0.9% at an annualized pace for the period,according to the advance estimate.That follows a… Read More »GDP fell 0.9% in the second quarter, the second straight decline, and a strong recession signal

Summary Fed raises policy rate to 2.25%-2.50% rangeU.S. central bank flags weakening economic dataFed’s Powell says failure to tame inflation… Read More »Fed jacks rates again, Powell vows no surrender in inflation battle

As the Federal Reserve prepares to meet this week, Wall Streetinvestors are betting that officials will raise interest ratesaggressively through… Read More »Investors Bet Fed Will Need to Cut Interest Rates Next Year to Bolster the Economy

The US corporate earnings season is turning out to be better thanfeared as consumer spending remains resilient, while stocks havealready… Read More »Citi, UBS Wealth Say US Earnings Holding Up Better Than Feared

Questions hold the potential for change but thought without action is defeat. “It is easier to act yourself into a… Read More »5 UNEXPECTED QUESTIONS THAT CAN CHANGE YOUR LIFE

Disappointing earnings reports from several big companies don’t seemto be fazing investors, with the S&P 500 up nearly 5% this… Read More »Weak Earnings Reports Aren’t Fazing Investors After Brutal Year for Stocks

What inspires us to follow a CEO, founder, or thought leader?Certainly, there is a toughness, particularly in the face ofadversity,… Read More »5 Inspirational ‘Grit in Leadership’ Skills for Overcoming Adversity

Benchmark: “Something that serves as a standard by which others may bemeasured or judged,” according to Merriam-Webster. As necessary as… Read More »The Problem With Traditional Business Benchmarks

From rising interest rates to battling growing inflation and supplychain issues that don’t show any hint of resolving, warning signs… Read More »Is A Recession Looming? Why History Says We Shouldn’t Panic

Amid the “Great Resignation,” many people continue to relish the ideaof being their own boss. While autonomy and flexibility can… Read More »What to know about the financial risks of becoming your own boss

U.S. Treasury Secretary Janet Yellen said on Sunday that U.S. economicgrowth is slowing and she acknowledged the risk of a… Read More »U.S. economy slowing, but recession not inevitable, Yellen says

The bond market wants to believe that Federal Reserve boss JeromePowell will succeed in getting inflation under control. It’s unclear… Read More »Bond Traders Regaining Faith That Fed Can Slay Inflation Dragon

More than 4 million people have left their jobs each month in the U.S.so far this year — and according… Read More »40% of workers are considering quitting their jobs soon—here’s where they’re going

New research that analyzed the impact of same-day pay showed that 60%of working Americans want employers to offer workers immediate… Read More »On-Demand Pay: 60 Percent of U.S. Workers Want Daily Access to Earned Wages

As we enter the home stretch, 2022 has been an eventful year for taxprofessionals. New proposed regulations, court decisions, and… Read More »The top 20 tax developments from 2022

Higher prices can sting retirees harder than others for a number ofreasons, but there are a few specific types of… Read More »Is Inflation Costing You More as a Retiree?

KEY POINTS A CNBC poll found more than 6 out of 10 Americans think there will bea recession next year.Although… Read More »Here are 6 strategies to recession-proof your finances at any age

The slowdown in venture-capital funding has spread to early-stagestartups, with that part of the market suffering one of the biggestinvestment… Read More »Tech Downturn Slows Early-Stage Startup Funding

Improving the taxpayer experience while surmounting operationaldifficulties that include a shrinking workforce are among the goalsthe IRS has set for… Read More »IRS seeks transformation in a new 5-year plan

Citigroup Inc. economists have labeled a global recession a “clear andpresent danger,” while repeating they estimate a 50 percentprobability of… Read More »Citi economists call global recession a present danger

The giants of private credit — the only game in town lately forbig-ticket leveraged buyouts — are dialing back on… Read More »Private Credit Giants Curb Buyout Lending Spree in Big Shift

Talk about recession and inflation has been a dominant topic onsecond-quarter corporate earnings calls that are starting to flood in.… Read More »Wall Street braces for economic ‘hurricane’

KEY POINTS A high rate of inflation — 9.1% in June from a year earlier — hastaken a toll on… Read More »75% of middle-class households say their income is falling behind the cost of living

It may often be a good idea for a small business owner to havechildren and other relatives on the company… Read More »Taxpayer Fails to Prove Compensation Deduction

Stocks rallied Tuesday, with the market resuming a bounce from lastmonth’s lows, as traders bet on strong corporate earnings reports… Read More »Dow rallies more than 750 points as traders bet that the bottom is in

Federal Reserve officials have signaled they’re likely to raiseinterest rates by 0.75 percentage points later this month for thesecond straight… Read More »Fed Officials Preparing to Lift Interest Rates by Another 0.75 Percentage Point

US stocks dipped to start the week as investors considered another setof earnings reports from major companies and looked ahead… Read More »Stocks Lose Ground as Banks Give Quarterly Updates

Lots of questions continue to swirl around the state of like-kindexchanges (real estate in particular) both in the near and… Read More »Near and Long-Term Tax Planning for Section 1031

The legislation would direct the IRS to create software that wouldallow any taxpayer to prepare and file their individual income… Read More »Congress Again Considers Free IRS Income Tax Filing System

Baby boomers have lived through the tech bubble, the 2008 housing andmarket crash, and even double-digit inflation in the 1970s,… Read More »Why Saving for Retirement Is More Difficult in 2022

Inflation at the wholesale level climbed 11.3% in June compared with ayear earlier, the latest painful reminder that inflation is… Read More »Wholesale inflation in June surged 11.3% from a year ago

Most companies use too many incomplete measures and would benefit fromusing one complete measure instead, as railroading company CSX hasimplemented.… Read More »Rethinking the Value of 3 Common Financial Metrics

Deepening fears about the health of the global economy have shoved theeuro down to parity against the US dollar for… Read More »Euro falls to parity with US dollar for the first time in two decades

Recently, FASB issued a new Accounting Standards Update (ASU 2019-12),Simplifying the Accounting for Income Taxes. The new standard amendssection 740… Read More »ICYMI | FASB Streamlines Income Tax Accounting

One of the US bond market’s most widely watched indicators ofpotential recession risk has reached levels last seen in 2007.… Read More »Treasury Curve Inversion Deepens to Level Last Seen in 2007

KEY POINTS The consumer price index increased 9.1% from a year ago in June, abovethe 8.8% Dow Jones estimate.Excluding food… Read More »Inflation rose 9.1% in June, even more than expected, as consumer pressures intensify

Such a frenetic pace of downgrades seen only four times beforeRecession or not, the UBS model shows a 1,100-point gap… Read More »Stock Drubbings Finally Convince Holdout Analysts to Get Real

Remote work is equalizing tech startup pay across the country, withSilicon Valley and San Francisco as the benchmark, and Seattle… Read More »How remote work is changing tech pay: Seattle startup comp equals Silicon Valley, study says

The biggest overhaul of cross-border tax rules in a generation is nowon course to take effect in 2024, the Organisation… Read More »OECD sees global corporate tax overhaul on course for 2024

Monthly consolidated financials need to be prepared within a few daysto be of use to operational leaders. Consolidated financial statements… Read More »Best Organizations Report Consolidated Financials in 4 Days: Metric of the Month

Investors expect concerns about hot inflation and strapped consumersto dominate the corporate earnings season that kicks off this weekcreating winners… Read More »The Stock Market Faces Next Test as Inflation Looms Over Earnings Season

Another record-breaking number of imports passed through the US’smajor container ports this spring — showing no sign of a slowdown… Read More »US ports saw record imports this spring, as port workers’ contract expires

Commerce Secretary Gina Raimondo on Sunday expressed doubt that thenation will head into a significant economic downturn but warnedagainst “talking… Read More »Commerce Secretary Warns against ‘Talking Ourselves into Recession’

After a period of relative sanity, another wave of shipping congestionis expected to happen soon. By now weary retailers are… Read More »Another Wave of Shipping and Supply Chain Challenges is On the Way

You might be feeling pain at the pump, but it could be worse; gas is a lot more expensive in… Read More »Gas Prices Around the World

There’s no need to fret about the timing of a US recession anymore,according to Wells Fargo Investment Institute — because… Read More »US Recession Is Already Here, According to Wells Fargo Investment Group

KEY POINTS The federal minimum wage has been $7.25 per hour since 2009.Starting this month, workers in Connecticut, Nevada, Oregon,… Read More »As states and cities raise minimum wage rates, some experts say a higher federal rate is long overdue

Homebuyers are feeling the squeeze of rising mortgage rates. On top ofthat, housing prices remain high. That may lead many… Read More »Rising mortgage rates are hitting Americans’ wallets. Here’s how to adjust your housing budget

After a nurse bought clothing for work at a clinic at her own expenseand deducted it from her taxes, she… Read More »Tax Court Tailors Outcome to Fit Clothes Deduction

FASB issued an Accounting Standards Update (ASU) that improvesfinancial reporting for investors and other financial statement usersby increasing the comparability… Read More »FASB issues standards to improve fair value guidance for equity securities

Operating cash flows boosted many balance sheets in the 12 monthsending March, but that will be harder to do this… Read More »1 Out of 3 Companies Increased Cash Holdings: Weekly Stat

The coronavirus (COVID-19) pandemic triggered an exodus of workersfrom their comfortable offices to the safety of their homes and otherremote… Read More »ICYMI | Working from Home State Income Tax Complications

Traditional IRAs are set up in a way that basically incentivizes you(and your heirs) into paying the highest tax bill… Read More »Don’t Be Tricked Into Voluntarily Paying Higher Taxes on Your IRA

Federal Reserve officials were concerned at their meeting last monththat consumers were increasingly anticipating higher inflation, andthey signaled that much… Read More »Fed: Sharply higher rates may be needed to quell inflation

The tax agency is the gatekeeper for America’s charity system, butreduced vetting has opened the door to scams. The “American… Read More »NY Times: The IRS Is The Gatekeeper For Charities, But Approves 99.96%Of All Applications; Form 1023EZ = EZ Fraud

Three out of four public company audit partners believe thatinflationary concerns could persist well into 2023 and possiblybeyond, according to… Read More »Audit partners see signs that inflation will persist

The U.S. economy has experienced 12 recessions since World War II, andeach one included two features: Economic output contracted andunemployment… Read More »Economic output is falling, but so is unemployment

-Move could include announcing new probe into China’s subsidies-Easing tariffs seen as way to counter accelerating inflation President Joe Biden… Read More »Biden Close to Rollback of Chinese Tariffs to Fight Inflation

By some early estimates, the U.S. economy, as measured by grossdomestic product, may have shrunk in the three months from… Read More »Explainer: Is the U.S. in a recession? GDP is not the only measure

Fed Chairman Jerome Powell on Wednesday said there was no guarantee that the central bank can engineer a soft landing… Read More »Powell says no guarantee of a soft landing for the U.S. economy

A U.S. Supreme Court decision to curb the Environmental Protection Agency’s power to regulate greenhouse gas emissions may be bad… Read More »U.S. Supreme Court emissions ruling may stop SEC drive for disclosure

How the second half will play out is still a coin toss Inflation will ease in coming quarters: Northwestern Mutual… Read More »S&P 500’s Brutal First Half Has Little Bearing on the Future

FASB issued an Accounting Standards Update (ASU) that improves financial reporting for investors and other financial statement users by increasing the comparability… Read More »FASB issues standards to improve fair value guidance for equity securities

Q. Help! I have been working on a very important Excel file for a client, and suddenly my computer locked up… Read More »2 ways to recover unsaved Excel files

KEY POINTS Thanks to inflation, even a backyard barbecue is more expensive this year. Here are five ways to save… Read More »Inflation is making Fourth of July celebrations more expensive than ever

If your client just set up their startup business, they might not wantto try to write off the costs and… Read More »Tax Court Halts Deduction for Start-Up Costs

KEY POINTS Major corporations tell CNBC that even as the stock market is volatileand recession risk elevated, spending levels will… Read More »The corporate spending that can’t wait for a recession to pass

Summary U.S. consumer expectations sink to a near-decade lowNike slips on downbeat quarterly revenue forecastIndexes down: Dow 1.56%, S&P 2.01%,… Read More »Wall Street stumbles as consumer pessimism stokes growth fears

Companies last year defied the coronavirus pandemic to go public at arecord pace. Now, market volatility, inflation, and fears of… Read More »US IPOs Can’t Shake 2022 Slump After Thriving Through Pandemic

A speedy recovery from a disaster can depend on your recordkeeping.Kiplinger’s Personal Finance writer Rivan Stinson tells us how to… Read More »PODCAST: Which Documents to Keep, Which to Shred, and Which to Scan

The chaotic mix of record fuel prices and an unending supply chaincrisis have retailers considering the unthinkable: Instead ofreturning your… Read More »Just keep your returns: Stores weigh paying you not to bring back unwanted items

Tech firms and banks, including Bank of America, Goldman Sachs,Citigroup, and JPMorgan Chase, add a ‘critical healthcare’ package Many large… Read More »Many US companies move to pay travel costs for employees seeking abortions

A pair of U.S. central bankers said on Friday they supported furthersharp interest rate hikes to stem rapid price rises,… Read More »Fed policymakers embrace more rate hikes, markets a little less

This year has been an especially tough one for seniors on fixedincomes. To stay on track, try these eight financial… Read More »8 Money Tips for Seniors Suffering from Inflation

KEY POINTS The percentage of people who are uncomfortable with the money theyhave set aside is now 58%, up from… Read More »High inflation has 58% of people nervous about their savings, a survey finds. One trick may help you boost your emergency cash

At the end of May 2022, the agency had a backlog of 21.3 millionunprocessed paper tax returns, an increase of… Read More »IRS Still Has Backlog of 21.3 Million Tax Returns

Equities have yet to fully price in the risk of a recession and mayhave further fall, according to Morgan Stanley… Read More »Morgan Stanley and Goldman see more stock market losses

NPR’s Leila Fadel talks to Stephen Cecchetti, professor ofinternational finance at Brandeis University, for a preview ofPowell’s testimony which follows… Read More »Federal Reserve Chair Jerome Powell will testify before 2 congressional panels

And 40% of those surveyed have less than $50,000 save