Month November 2019

Fighting Foreign Terrorism on Homeland Soil, Increased Protections for Clean Water and Low-Income Veterans, and New Appropriations for FY2020
01 Nov 2019 Leave a Comment
Terrorist and Foreign Fighter Travel Exercise Act of 2019 (HR 1590) – This bill promotes the identification and determent of terrorist activity from reaching the homeland, and enhances the United States government’s ability to respond to terrorism, including emerging threats. Specifically, the legislation requires the Department of Homeland [...]

How to Stay Safe with Business Email Compromise on the Rise
01 Nov 2019 Leave a Comment
According to a report by the Financial Crimes Enforcement Network (FinCEN) released in July, financial institutions have incurred more than $9 billion in losses due to Business Email Compromise (BEC) schemes since 2016. With such staggering losses, businesses and even individuals can’t afford to ignore BEC attacks.What is BEC?BEC fraud involves cyber [...]

5 Ways to Save on Holiday Gifting
01 Nov 2019 Leave a Comment
Believe it or not, the holidays are right around the corner. And try as you might, overspending is real – whether you plan ahead or wait until the last minute. With this in mind, here are a few ways to get a handle on spending and save money on gifting.Set Limits. Decide how much you’re going to spend overall on holiday gifts and how many people [...]

What to Expect and How to Prepare for a Recession
01 Nov 2019 Leave a Comment
Economists generally determine that the country has fallen into a recession after two consecutive quarters of negative gross domestic product (GDP) growth. Since 1967, the United States has experienced seven recessions.The thing is, predicting a recession is a little like predicting a tornado. Experts are never exactly sure if or when one will occur, but [...]

How Will Ongoing China Trade Tensions Tensions Impact Consumer Spending?
01 Nov 2019 Leave a Comment
According to the U.S. Department of Commerce and the U.S. Census Bureau, retail sales came in at a negative 0.3 percent for September, even though it's still 4.1 percent more than September 2018's report. The same report followed up on August 2019’s numbers, with a revision by the agency to 0.6 percent, up from 0.4 percent. With the ongoing U.S.-China [...]

LIFO Versus FIFO and How Each Method Values Inventory
01 Nov 2019 Leave a Comment
As the name implies, First-In, First-Out (FIFO) is a way for companies to value their inventory. The first items put into inventory or produced by the company are accordingly the first taken out of inventory or transferred to customers and therefore expensed. When it comes to accounting for acquisition and/or production costs, initial and earlier costs are [...]

Tax Changes 2019
01 Nov 2019 Leave a Comment
With the start of the fourth quarter of 2019 underway, it's time to see what the Internal Revenue Service (IRS) will expect of filers for their 2019 taxes. The following are a list of major changes that filers need to be aware of:1. Removal of the Affordable Care Act's (ACA) Individual Mandate PenaltyWith the passage of the Tax Cuts and Jobs Act (TCJA), [...]
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