Economic headwinds: Law firms
Without making significant progress on improving productivity, firms in all sectors risk a sharp decline in profits.
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FASB to propose changes to related party leases guidance
The FASB recently voted to issue proposals on the determination of an arrangement as a lease and the financial reporting requirements for related party lease arrangements for certain entities.
IRS extends retirement plan amendment deadlines
The IRS has provided further extensions of the due dates for plan sponsors to incorporate required operational amendments in their plan documents under the SECURE, CARES, Miners, and Relief Acts.
Avoid these common pitfalls when establishing a retirement plan
When establishing a retirement plan, be sure to avoid common missteps when setting up your company’s retirement plan.
Pending home sales fall to their lowest level since April 2020
Pending home sales in the United States fell by 2% in August, the third straight monthly decline amid a steep rise in mortgage rates.
Amid global economic turmoil, stress grips fixed-income markets
Fixed-income markets are signaling a shift in perceptions of financial stability and raising a caution flag for investors.
How the Student Loan Debt Relief Plan works
President Biden announced a plan to extend the pause on student loan repayments and offer student loan forgiveness to millions of borrowers. Under the Student Loan Debt Relief Plan, eligible borrowers will have up to $20,000 of their student loans forgiven. Watch this video to learn more about the program.
Fed raises its policy rate by 75 basis points and sees more increases
The Federal Reserve raised its policy rate by 75 basis points on Wednesday, the third straight increase of that size and a sign that it is continuing its aggressive push to tame inflation.
Retail sales rebound on strong autos spending
The U.S. retail sales picked up slightly in August, rising by 0.3%, according to government data released on Thursday.
Industrial production falls for the first time since June
Industrial production fell by 0.2% in August, the first decline in three months, amid a slowdown in manufacturing and a sharp drop in electricity production.
Producer prices ease as energy costs fall
Prices paid to domestic producers deflated for the second month in a row as energy prices continued to fall and food prices remained unchanged.
Economic headwinds: Consumer products
The impact of inflationary pressures on consumers and their willingness to spend has left many consumer products companies holding bloated inventory levels.
U.S. August CPI: Core inflation arrives hot even as gas prices fall
Premature calls for the Fed to pause its campaign to tame inflation should be politely dismissed given the 0.1% increase in top-line inflation in August.
Major provisions of the Inflation Reduction Act of 2022
In August 2022, President Biden signed the Inflation Reduction Act (IRA) into law. Learn about the major provisions related to climate, energy, and taxes and how they may affect you and your business.
The Clean Vehicle Tax Credit Program
The Inflation Reduction Act includes the Clean Vehicle Tax Credit program which provides tax credits for purchasing electric vehicles. Learn about the tax credits and limits on qualifications.
Spending remains steady on strong income growth and inflation relief
personal income and spending in July signaled a gradual rebound of the economy in the third quarter after six months of declines in gross domestic product.