The Federal Reserve raised the target federal funds rate by 0.75 percentage point for the fourth time in a row on Wednesday, marking an unprecedented pace of rate hikes. The U.S. central bank has raised the benchmark short-term borrowing rate a total of six times this year, including 75 basis point increases in June, July and September, in an effort to […]
Doeren Mayhew, a Top 60 Firm based in Troy, Michigan, is adding Kaplan Merzlak PC, a firm in West Bloomfield, Michigan. Kaplan Merzlak PC has been providing accounting, tax and consulting services to privately held companies and high-net-worth individuals for over 35 years. Shareholders Jeffrey Kaplan and Eric Merzlak will join the Doeren Mayhew leadership team and continue to service […]
The federal government has several programs that support farmers and local food enterprises. USDA LAMP Grants are a perfect example. The Local Agriculture Market Program includes several options for funding agriculture projects of various shapes and sizes. Read on for a guide to this program and how to apply for funding. What are USDA LAMP Grants? LAMP stands for Local […]
The U.S. Treasury Department in Washington. Al Drago/Bloomberg via Getty Images Investors purchased Series I bonds in record numbers from the U.S. Department of the Treasury on Friday, just beating a key deadline to lock in a historically high rate of return. I bonds are a nearly risk-free asset tied to the rate of inflation. They’ve proven to be a […]
Chief Justice John Roberts temporarily blocked a House committee from getting Donald Trump’s tax returns, issuing an interim order that gives the U.S. Supreme Court more time to consider the former president’s bid for a lengthier delay. The House Ways and Means Committee had been set to get six years of tax returns as soon as Thursday after a federal […]
As Wisconsin’s gubernatorial election draws near, the spotlight is on a potential flat individual income tax—and its effects on the state’s taxpayers and economy. Unfortunately, there has been much confusion, with bold claims being made based on plans that don’t exist, including claims that a flat tax “would increase taxes on the middle class and working poor.” It’s worth taking a step […]
Skynesher | E+ | Getty Images As inflation has pushed the cost of living higher, those eligible for Social Security retirement benefits may be tempted to claim benefits sooner than they had planned. Social Security beneficiaries stand to get a record 8.7% cost-of-living adjustment in 2023 that will help them contend with higher costs. But the COLA adjustment alone is […]
Key Findings Starting in 2022 and continuing through 2026, businesses will face several tax changes scheduled as part of the Tax Cuts and Jobs Act (TCJA), including a switch to five-year amortization of R&D expenses, the gradual phaseout of 100 percent bonus depreciation, a tighter interest deduction limitation, and an increase in international tax rates. Canceling the business tax changes […]
The IFRS Foundation has finished filling out a new advisory body focused on finding ways to integrate sustainability standards into the general accounting literature. The new advisory body, the Integrated Reporting and Connectivity Council, is meant to complement the foundation’s recently formed International Sustainability Standards Board, which produces standards for environmental, social and governance-based reporting, with an initial focus on […]
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