This is the biggest negative revision to payrolls since the global financial crisis.
Crucially, it took place in an election year and was meant to pad the numbers, making the economy appear much stronger than it was
@bhallcpa Have seen the stance for Monetized installment sales - but wasn’t able to find opinion on the DST. Agree it will most likely be next, but wonder how many people will pay all those fees in the meantime..
@bhallcpa While on the topic of trusts, have you seen any input on Deferred Sales Trusts (DST). Not to be confused with Delaware Statutory Trusts (DST). Have seen promoters pushing this strategy to spread out tax liability as installment sale for CRE. Advertised as alternative to a 1031.
@adammarkowitzEA@ForemanTaxLaw It appears we are in luck Adam. I called my local office and they explained the servers are in Texas and the site is down due to weather. They will be adjusting the received date this month, so hopefully no penalties.
The Packers underwent a seismic shift this offseason, trading away a 4-time MVP and turning the keys over to a QB in Jordan Love who had made just 1 start in his career.
Green Bay has the youngest roster in the NFL.
Love just threw for over 4,000 yards and 32 TD (second most in the NFL) and the roster is full of impressive building blocks.
And the Packers are playoff bound. Incredibly impressive job.
@doutaxsolutions As of right now, It really can be used as a retirement account. Max out HSA. Invest all funds. Take no withdrawals. Pay medical expenses out of pocket. Save all receipts. Then when ready to retire, HSA account can reimburse you for the total of qualified medical costs, tax free.
US paid $853 Billion in Interest for $31 Trillion Debt in 2022; More than Defense Budget in 2023.
If the Fed keeps rates at at these levels (or higher) we will be at $1.2 trillion to $1.5 trillion in interest paid on the debt.
The US govt collects about $4.9 trillion in taxes.
Last week, the IRS has stated that Americans must report payments on Venmo, PayPal over $600.
Last week, the Defense Department failed its fifth audit, unable to account for more than 61% its assets, worth about $1.8 trillion.