Join us for the next edition of our monthly series where each of our team members at TFP share something their reading that we think you might enjoy too.
Bob Heykoop’s Choice: The Kiplinger Tax Letter
We just passed the S Corp filing deadline of March 15 and we are quickly approaching the Federal and State income tax filing deadline of April 18, 2023 so most of our clients, family and friends have TAX on their minds. I recently read the following articles from the Tax Foundation and The Kiplinger Tax Letter and am passing along for your reading “enjoyment”. If our current administration’s 2024 Budget Proposal would pass without significant changes it would likely drive our economy into a deep recession with the loss of jobs, negative economic growth, while crushing the earnings of the companies that most Americans are invested in and counting on for their retirement. The top 10% of all income earners also invest in businesses and create most of the private sector jobs in addition to paying 73.7% of the 1.7 trillion in federal income tax. 63.8% of all private sector employees work for small businesses (<2500 employees).
Evan Barnes’ Choice: LPL Weekly Commentary – The 36-Hour SVB Collapse and Hierarchy of Blame
Was it the venture capitalists? Institutional mismanagement? The Fed? Government spending? COVID? Who is to blame for the current issues with the global banking system? LPL Research dives into this, and much more, in its recent Weekly Market Commentary.
Drew Barnes’ Choice: First Trust Economic Research Report – All Mixed Up
The Fed has been in a tough position for over a year now having to raise interest rates aggressively in an attempt to slow inflation. They have also been moderately decreasing their balance sheet as they let maturing bonds fall off without reinvestment into new bonds. However, the recent issues in the banking sector have thrown a new wrench into the equation. Brian Wesbury (Chief Economist) and Robert Stein (Deputy Chief Economist) at First Trust weigh in as all eyes remain on the Fed.
Andrew Rhoads’ Choice: Kiplinger’s Interest Rates Outlook: Rates Likely to Rise Again After Banking Crisis is Over
Interest Rates to rise again!
How confident is the Federal Reserve?
Pete Koury’s Choice: Dr. David Kelly – The Recessionary Price of a Faster Decline in Inflation
Read how Dr. David Kelly’s perspective on the consequences of Inflation vs Recession are a significant challenge today for the Fed and the US. Will the declines in inflation allow the US to avoid a recession or will it take higher unemployment and regulation to return inflation to pre-2022 levels?
Shane Wolfe’s Choice: LPL Research – Three Takeaways from the Fed Decision
All eyes on Chairman Powell. Don’t expect rate cuts in 2023. LPL Research lays out their thesis on where they believe the Fed is going with rates and what it means for our economy.
Katy Kappius’ Choice: Kiplinger – Three Tips for Personal Debt Management
April is Financial Literacy Month and with interest rates rising (and apprently continuing to rise), finding ways to manage your personal debt can be key. Check out these three tips to help protect yourself from financial harm no matter the economic conditions.
*Certain information contained herein has been obtained from third party sources and such information has not been independently verified by TFP. No representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by TFP or any other person. While such sources are believed to be reliable, TFP does not assume any responsibility for the accuracy or completeness of such information. TFP does not undertake any obligation to update the information contained herein as of any future date.
