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Estate planning and income tax: Key considerations and planning points

Estate planning and income tax: Key considerations and planning points

You have mapped out your estate plan and feel confident in its estate tax efficiency. However, it is important to consider the income tax ramifications of each decision throughout the planning process to avoid unintended consequences.
US July CPI: Inflation posts likely peak as commodity, gas and transportation prices fall

US July CPI: Inflation posts likely peak as commodity, gas and transportation prices fall

Commodity, oil, and gasoline prices declined noticeably in July, driving the pace of top-line inflation lower even as core inflation continued to increase at a torrid pace.
Inflation Reduction Act passes Senate; House vote expected this week

Inflation Reduction Act passes Senate; House vote expected this week

The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Inflation Reduction Act passes Senate; House vote expected this week

Inflation Reduction Act passes Senate; House vote expected this week

The Inflation Reduction Act contains incentives for investment in the energy sector, a corporate alternative minimum tax, an excise tax on stock buybacks, IRS funding and an extension of business loss limitations.
Initial jobless claims rise amid labor market slowdown

Initial jobless claims rise amid labor market slowdown

New claims for jobless benefits rose by 2.4% to 260,000 for the week ending July 30, after a brief decline in the prior week.
Retirement plan amendment deadlines extended

Retirement plan amendment deadlines extended

The IRS extended the due dates for plan sponsors to incorporate required amendments under the SECURE, CARES, and Miners Acts. Plan sponsors should review these deadlines with their service providers.
Labor force dynamics: 60,000 jobs per month are needed to keep the jobless rate near 4.4%

Labor force dynamics: 60,000 jobs per month are needed to keep the jobless rate near 4.4%

Long-run changes in the labor force have slowed its growth and are likely to result in a shortage of workers even if the economy falls into recession.
How lumber tells the story of homebuilding during the pandemic

How lumber tells the story of homebuilding during the pandemic

Despite a roller-coaster ride, lumber prices are still significantly higher than they were before the pandemic.
Unexpectedly strong durable goods orders and trade data temper recession concerns

Unexpectedly strong durable goods orders and trade data temper recession concerns

Durable goods orders and goods trade deficit in June beat expectations, according to data released Wednesday, tempering recession concerns.
FOMC policy decision: Fed hikes policy rate by 75 basis points

FOMC policy decision: Fed hikes policy rate by 75 basis points

At this critical juncture, with the policy rate residing in neutral terrain, it is natural for the Fed to adjust its rhetoric as it considers next steps.
Wholesale gas futures point to drop below $4 a gallon

Wholesale gas futures point to drop below $4 a gallon

Wholesale gasoline futures imply that the average price per gallon of gas, which stands at $4.44, will most likely fall below $4 per gallon by the end of the summer.
FOMC policy decision preview: Fed to hike lending rate .75% next week

FOMC policy decision preview: Fed to hike lending rate .75% next week

A 100-basis-point increase in the federal funds rate will be on the table during the Federal Open Market Committee meeting next week, but we expect the central bank will hike the policy rate by 75 basis points.
Initial jobless claims rise to eight-month high

Initial jobless claims rise to eight-month high

New filings for jobless benefits rose more than expected last week to an eight-month high of 251,000, continuing to show signs of increases in layoffs amid an economic slowdown.
Tax issues that arise when a shareholder or partner dies

Tax issues that arise when a shareholder or partner dies

This article examines the various federal income tax issues, both from the individual and entity level, to be mindful when an owner of a passthrough entity dies.
U.S. housing supply continues to fall amid rising mortgage rates

U.S. housing supply continues to fall amid rising mortgage rates

There were 1.56 million new housing starts in June on an annualized basis, a 2.0% decline from May and the lowest level since last September.
U.S. June CPI: Persistent top-line inflation hits 9.1%

U.S. June CPI: Persistent top-line inflation hits 9.1%

The top-line consumer price index hit 9.1% in June on the back of a 11.2% increase in gasoline prices and a 7.5% jump in overall energy prices.