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.
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Economic headwinds: Oil and gas sector
RSM examines what economic headwinds mean for the oil and gas sector, which is faring better than the overall economy.
10 issues that affect wealth preservation and what you can do about them
Wealth preservation issues and strategies for multigenerational wealth; how to prioritize grantor intent for future generations while minimizing taxes and reducing conflict.
The new corporate minimum tax: overview and highlights
The Inflation Reduction Act of 2022 imposed a new 15% alternative minimum tax on large corporations. Notably, the tax is based on a corporation’s financial statement income (with adjustments).
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.
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.
Job openings show signs of a slowdown
Job openings declined for the second straight month in May as the Federal Reserve's rate hikes slowed down overall demand.
Fed announces largest rate hike in nearly three decades as it seeks to restore price stability
The Federal Reserve lifted its federal funds policy rate to a range between 1.5% and 1.75% on Wednesday as it moves to restore price stability over the medium term.
IRS increases mileage rates for the remainder of 2022
The IRS provides some relief amid rising gas prices with an optional increase to the standard mileage rate for business travel.
U.S. May CPI: Inflation continues to broaden out on higher gas and housing costs
Inflation continued to broaden out across the American economy in May, rising by 8.6% annually and underscoring the urgency among central bankers to restore price stability through an increase in the federal funds rate and a drawdown in its $8.9 trillion balance sheet.
Reminder – S corporation shareholder basis reporting requirements must not go overlooked
How will the new Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations, impact tax filings for family offices and other taxpayers?
Why excess labor demand is unhealthy
The economy is fewer than 1 million jobs from reaching its pre-pandemic level. Yet there were a record 11.55 million job vacancies.
Get ready for another round of supply chain bottlenecks
Just when middle market businesses where hoping for relief from supply chain disruptions, China's renewed economic shutdowns laying the groundwork from another round.
An update on the tax policy landscape against inflation backdrop
The tax policy landscape in Washington remains unsettled as we approach the summer months, while inflation remains the dominant economic issue. Within the context, we look at what's currently on the legislative agenda for Congress.
Chart of the day: U.S. housing starts fall amid rising mortgage rates
Housing starts fell by 0.2% on the month to 1.724 million annualized, according to the U.S. Census Bureau.
Supreme Court sweeps away rule in tax collection due process practice
Internal Revenue Code section 6330(d)(1)’s 30-day time limit to file a petition for review of a collection due process case is not a jurisdictional deadline and is subject to equitable tolling.