The Board of Governors of the Federal Reserve System unanimously voted to increase the interest rate paid on reserve balances to 1.65%, effective June 16, 2022. Over the past several months our blogs and articles have intimated that this interest rate increase was looming. The Fed’s intent is to place a governor on rising inflation,...
These are times when fake news has almost become the norm. Most of us don’t trust what we are being told by our politicians, our newscasters, journalists and even our health care providers. We are being told inflation is running at a 7% annual rate. Even a cursory look at the rising costs of housing,...
A recreational vehicle dealer enjoyed years of success and profitability for many years. Over a three-year period, however, this client fell on hard times and posted substantial losses. Before coming to our offices, he tried to seek relief from other professionals. None were able to monetize his recent tax loss and he was forced to...
The current economic climate has impacted many professionals and entities operating businesses or owning real estate. Some of the companies most frequently experiencing these challenges include: Shopping center owners and real estate investors which have been severely impacted by the pandemic. Faced with the decline of brick-and-mortar businesses, and online shopping as the new reality,...