David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. getty In August of 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA). This legislation extended and increased many tax credits and deductions for green energy projects and energy reduction initiatives.…
Getty Images Key takeaways There’s an agreement in principle in place between President Biden and Speaker McCarthy Neither Republicans or Democrats are happy – the deal needs to pass through the Congress and the Senate, so it’s not set in stone The markets are surprisingly blasé about the crisis, futures are all up on Tuesday…
State-of-the-Consumer Copyright (c) 2023 Popel Arseniy/Shutterstock. No use without permission. In our Annual Outlook for 2023, we raised the possibility that the US economy could potentially avert recession in 2023, powered by full employment and robust consumer spending. Thus far, with roughly a month left in the 2nd quarter, the US economy has proven itself…
The frustration of business owners regarding their federal income tax payments is palpable. Though no major tax legislation has recently been passed, federal income tax payments are increasing dramatically. With rising inflation, workforce shortages, and supply chain woes, businesses are coming face to face with the prospects of retraction and survival versus expansion and entrepreneurship.…
TOPSHOT – Republican gubernatorial candidate for Florida Ron DeSantis with his wife Casey DeSantis … [+] speaks to supporters during an election night watch party at the Convention Center in Tampa, Florida, on November 8, 2022. – Florida Governor Ron DeSantis, who has been tipped as a possible 2024 presidential candidate, was projected as one…
(Photo by Mario Tama/Getty Images) Getty Images Key takeaways Inflation, housing and jobs data all pointing the right direction for taming high inflation while avoiding a recession But the debt-ceiling crisis is putting pressure on the markets as the deadline draws closer If the US defaults on its debt, then the financial consequences would be…
Debt ceiling negotiations are expected to continue today. (Photo by Chip Somodevilla/Getty Images) Getty Images Key Takeaways Debt Ceiling Negotiations Continue Tech Stocks Stay Strong Fed Members Speaking This Week As we head into the last full week of May, it’s become a tale of two markets. While the S&P 500 gained over 1.5% last…
Abraham Lincoln reading the Emancipation Proclamation before his cabinet. From an engraving by … [+] Alexander Hay Ritchie after a painting by Francis Carpenter. Bettmann Archive Unlike the by-and-large ethnically constituted states of the “Old World,” the America of the “New World” is a covenant. Indeed it is a covenant of covenants. The overarching covenant…
US President Joe Biden Biden is scrapping planned stops following his trip to Japan for the G7 … [+] meeting to return for continuing negotiations with Republicans over raising the debt ceiling. Photographer: Al Drago/Bloomberg © 2023 Bloomberg Finance LP While banks and stocks generally had a week of robust gains, the rally was trimmed…
U.S. Secretary of the Treasury Janet Yellen shows concern. (Photo by Alex Wong/Getty Images) Getty Images She was at it again just the other day. Treasury Secretary Janet Yellen was issuing warnings to the American people of the approach of Washington’s debt ceiling. As before when speaking on this subject, she suggested that the constraints…