U.S. commercial real estate prices fell more than 11% between March 2022, when the Federal Reserve started hiking interest rates, and January 2024. The potential for steeper losses has chilled the market and still poses significant risks to some property owners and lenders.1 On the residential side of the market, the national median price of […]
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IRS Releases Standard Mileage Rates for 2024
Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2024. However, the standard mileage rates for medical and moving expense purposes are reduced for 2024. The standard mileage rate for computing the deductible […]
Read MoreRising Oil Prices Could Pose the Latest Threat to the Economy
Oil prices have increased more than 30% since late June, driving up transportation costs for consumers and businesses and putting financial markets on edge. On September 27, West Texas Intermediate crude — the U.S. benchmark for oil prices — topped $93 per barrel, the highest level since August 2022. Brent crude (the global oil benchmark) […]
Read MoreREAL ID Deadline Extended Again
After years of numerous delays, the U.S. Department of Homeland Security has once again extended the REAL ID enforcement deadline from May 3, 2023, until May 7, 2025. 1 What is a REAL ID? A REAL ID is a type of enhanced identification card. The REAL ID Act, passed by Congress in 2005, set minimum security […]
Read MoreIRS Releases Standard Mileage Rates for 2023
Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business purposes for 2023. However, the standard mileage rates for medical and moving expense purposes remain the same for 2023. The standard mileage rate for computing the […]
Read MorePrepare Now for Future Emergencies
September is National Preparedness Month, part of an effort by the Federal Emergency Management Agency (FEMA) to raise public awareness and inspire disaster readiness. Most communities could be impacted by some type of natural disaster, whether it’s a wildfire, hurricane, tornado, earthquake, or flood. Here are some tips to help keep your family safe in […]
Read MoreIRS Increases Standard Mileage Rates for Last Half of 2022
Due to recent increases in the price of fuel, the IRS has increased the optional standard mileage rates for computing the deductible costs of operating an automobile for business, medical, and moving expense purposes for the second half of 2022. The standard mileage rate for computing the deductible costs of operating an automobile for charitable […]
Read MoreHigh Inflation: How Long Will It Last?
In March 2022, the Consumer Price Index for All Urban Consumers (CPI-U), the most common measure of inflation, rose at an annual rate of 8.5%, the highest level since December 1981.1 It’s not surprising that a Gallup poll at the end of March found that one out of six Americans considers inflation to be the most […]
Read MoreIs the Russia-Ukraine War a Threat to the Global Economy?
Before Russia stunned the world by invading Ukraine, it was widely believed that the economic ties formed through globalization would help promote peace. But the war is testing that assumption and drawing attention to the vulnerabilities in far-flung supply chains, which were already under pressure because of the pandemic and recovery. In response to the […]
Read MoreGlobal Finance: Kicking Russia Out of SWIFT
Over the past days, the United States and other countries have imposed various sanctions on Russia for its invasion of Ukraine. One sanction that was discussed initially but not implemented immediately was blocking Russia from the SWIFT global banking network. However, the United States and European allies eventually agreed to remove selected Russian banks from […]
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