Weekly Digest – November 18, 2022
I am thrilled to say that this week’s post is short and sweet as I am still on site at what I consider the most important conference I attend annually for the last 15+ years. We are live at the Crest Hollow Country Club for the first time since November 2019 and it’s been too long. It’s great to be back in person, I could feel the energy in every room, yes this is an accounting conference. For me it’s been wonderful to be able to greet and hug and catch up with my professional friends, sponsors and speakers who have become family. It’s been great to see you all.
Hoping everyone has a great weekend and wonderful plans for their their thanksgiving holiday. We are heading to Michigan to spend the holiday with our family and their local friends.
WEEKLY TAKE AWAY
As convenient as it is to turn on my computer and host or watch a webinar, I have experienced first hand the importance of attending professional conferences in person too. I have learned so much as an attendee, in a session, but been inspired by insights and grateful for the information and feedback I received from my fellow attendees. I intend to make sure to continue to attend seminars and conferences in person whenever possible.
TAX ISSUES/TAX PLANNING
I am still attending classes all day today, but I have been listening carefully and taking notes to share with you over the next few weeks. So tune in next week.
ECONOMY
The Fed Hints That it May Soon Slow Interest Rate Hikes
Federal Reserve Vice Chair Lael Brainard indicated Monday that the central bank could soon ease up on its aggressive interest rate hikes, saying that it may soon be appropriate to move to a slower pace.
OPEC Cuts Demand Growth Forecast Again
OPEC cut its forecast for 2022 oil demand growth for the fifth time since April, citing mounting economic challenges including high inflation and rising interest rates.
Homeowners Choosing to Renovate Instead of Move
Because of rising interest rates, many people looking to buy a new home are instead deciding to stay put and renovate. Although construction and materials costs are also higher, renovation is still a more budget-friendly option than taking out a mortgage at a much higher rate.
GENERAL RESOURCES
- IRS resources for stimulus payments:
- Use the Get My Payment tool to check on EIP payment status
- Eligibility and general information about Economic Impact Payments
- A list of frequently asked questions for stimulus payments
- IRS information about the Advance Child Tax Credit Payments
- Portal to update information
- A list of frequently asked questions on the advance Child Tax Credit Payments
- The best source for up-to-date and accurate health information is the Center for Disease Control (CDC)
- Our Covid-19 Resource Center with relevant blog posts, videos and prior weekly newsletters
- Payroll, HR and benefits company Gusto has put together An Employer’s Guide to Navigating the Coronavirus
- Accounting Today has a special page for articles on COVID-19
- Intuit QuickBooks has a dedicated page to help small businesses
- Entrepreneur put together a listing of free tech resources for remote work
- The Consumer Financial Protection Bureau has warnings about COVID-related scams
- Fast Company has a listing of the best productivity apps for 2020
- The New York Times has an online newsletter on K-12 and higher education
- The Wall Street Journal has a collection of articles on education
- The Louvre has digitized 482,000 artworks from its collection
- PC Magazine explains how to carry your vaccination card on your phone
- How to create a strong password
We sincerely hope that you and your family are well and remain well. If you have any questions or concerns, don’t hesitate to reach out to us. We are here for you.
If you need help with your accounting, want to create a tax minimization plan, want to discuss your business growth plan or your finances, are concerned about retirement goals or need to be held accountable for your 90 day action plan, contact us for a complimentary discovery session or an appointment to just get started.
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