News & Updates
2024 Tax Season
Tax Day has come and went. Thank you to our wonderful clients for a successful tax season. We'll see you next year! For those that are on extension, we still have some work to do! So, let's get to it.
Interest Rates Hold
The Fed has once again held the interest rate steady at 4.25%-4.50%. This makes sense because inflation has remained stubbornly high. Inflation estimates are about 2.5%-3.2%. The inflation targets the Fed shoots for is 2%.
Tax Cuts Expiring
After 2025, tax rates will increase substantially, unless government implements a new tax plan. The Trump administration wants to make current tax cuts permanent and even lower them further. Only time will tell what happens next.
Tariffs
President Trump has implemented tariffs on imports from countries like China, Mexico, and Canada, aiming to reduce trade imbalances. In response, the stock market has become more volatile, with major indices experiencing declines. Investors are now navigating the uncertainty caused by these new trade policies.