Weekly Update – October 14th 2021

Global supply chain delays have become so bad that the biggest U.S. retailers are chartering their own cargo ships to stock shelves this holiday season. Walmart, Home Depot, Costco, and Target are among companies that are paying the additional expense to mitigate holiday disruptions. While the smaller ships these companies will use are far more expensive than the larger ones, they have the advantage of the ability to dock at smaller, less…  Read more

Weekly Update – September 30th 2021

This recent article in the Washington Post has highlighted (please sing as you read) where have all the employees gone…to the legal cannabis industry,  which has been absorbing furloughed, laid-off, and disenchanted retail and restaurant workers at a rapid pace throughout the pandemic. An estimated 321,000 people in the U.S. work in the industry, more than work as dentists, paramedics, or electrical engineers. Burnout, overwork, and challenges with unhappy customers in retail during…  Read more

Weekly Update – September 23rd 2021

Even before the pandemic, some restaurant owners were challenging the model of paying servers only $2.13 an hour and depending on tips from customers to make them whole. Today, as restaurants and bars struggle to find enough workers to stay open, a few are making further changes to their business model. Some are raising wages and offering sign-on bonuses. Others are adding service charges to every bill, and others are simply…  Read more

Weekly Update – September 2nd 2021

While businesses have been mandating vaccines for employees for some time now, some are now beginning to take a harder line. Large corporations like Delta Airlines, are charging unvaccinated employees an extra $200 per month for health insurance, and some are firing unvaccinated employees. Companies that require employees to be vaccinated face several risks. First, the divisive nature of the covid vaccine may lead to workplace bullying or retaliation of unvaccinated…  Read more

Weekly Update – August 19th 2021

Those COVID-19 relief programs which certainly helped keep millions of Americans and businesses afloat during the pandemic,  have unfortunately also been a spectacular bonanza for an array of international scam artists, including Russian mobsters, Chinese hackers, and Nigerian scammers. An estimated $87 million to $400 billion in unemployment benefits may have been lost to fraud; at least half of that is thought to have been stolen by foreign criminals. Many took…  Read more

Weekly Update – July 29 2021

The U.S. economy depends on population growth as a driver, but recent estimates indicate that the COVID-19 pandemic has compounded a decade long fertility slump to result in the lowest population growth rate in history. In half of all states, more people died than were born. The impact is most acutely felt in rural communities, which frequently lack the jobs, child-care options and housing that young families need. The result…  Read more

Weekly Update – July 15th 2021

In the wake of the pandemic, many families may find themselves with medical debt from COVID-related hospitalizations. This article from Acorns has four steps to take to reduce damage to credit scores from medical debt. First, review the bill to make sure it’s accurate. See if you can set up a payment plan with the provider. Try to negotiate with the provider to accept rates that are closer to Medicare…  Read more

Weekly Update – July 8th 2021

While pandemic restrictions are easing in the U.S. as vaccination rates rise and infection rates fall, whether that trend will continue may depend on the interaction of three principles. First, thank goodness current vaccines still seem to be effective against the variants. Per the CDC and current research, those who have been fully vaccinated with any of the vaccines are not as likely to get as sick or to be hospitalized,…  Read more

A Season of Takeaways

Originally published in the June 2021 Nassau/Suffolk Chapter of NCCPAP Newsletter.   I wanted to share my recently published article as I feel so strongly about the message being more far reaching than my immediate accounting community. Message from the Educational Foundation President A Season of Takeaways By Andrea Parness It has been a while since we included our MAP meeting Take-A-Ways in our quarterly newsletters. The great content always made…  Read more

Weekly Update – July 1st 2021

As the pandemic recedes and businesses reopen, millions are quitting their jobs rather than return to their pre-pandemic routine. Some are seeking out positions where they can be fully remote, while others, particularly in the leisure and hospitality sector, are seeking better work-life balance, higher pay, or a less stressful work environment. The lengthy experiment with remote work has changed what people think about where and how they want to…  Read more

Weekly Update – June 24th 2021

Is there a perfect number of hours to work each day? Research shows that five hours seems to be the maximum that people can focus and be creative. The constraint of a shorter workday can also increase productivity as people are forced to find ways to get their work done in less time. While a shorter workday gives people more time for other pursuits, it also has several downsides. People have…  Read more

Weekly Update – June 17th 2021

Before the pandemic, commuting was widely considered the worst part of one’s day and only worsened one’s sense of well-being. However, now that most office workers have skipped the commute for more than a year, the hidden benefits are emerging. Commuting serves as a distinct boundary between the home and office. Interesting that my contribution to a recent article “How to Draw the Line Between Work and Home”  also focused on the…  Read more

Weekly Update – June 9th 2021

As we create our new normal, we look to the summer with warm weather allowing us to meet outside and even begin doing those things we love, like  attending graduations, hosting and attending Bar-B-Ques, hiking, biking, going to the park to play sports or just get out & toss a frisbee around. I’ve shared the story of my daughter who is foster failure, when she “broke down” and adopted her…  Read more

Weekly Update – May 26th 2021

It seems crazy that a year ago, consumers were snapping up essentials like cleaning wipes and toilet paper in a panic-driven frenzy. Today, as economies around the world reopen, businesses are in a similar panic-driven frenzy to stock up. Supply lines have not yet recovered to pre-pandemic capacity, and recent events, including the Suez Canal blockage, a deep freeze in the southeast, and disruption of an East coast pipeline from hacking,…  Read more

COVID-19 Weekly Update – May 12th 2021

Are you feeling exhausted these days (even those non-accountants out there)? Are you struggling with “brain fog”? According to mental health experts interviewed by NPR, fatigue and brain fog may be a response to the stress and trauma of the last year. Many of us have lost loved ones, our lives have been uprooted, and even if we haven’t been sick, there’s a fear that we might catch this strange new…  Read more

COVID-19 Weekly Update – April 28th 2021

A year into the pandemic, and we’d all like to see it behind us. But there are disquieting signs that the virus may part of our lives for longer than we want. The longer the virus can spread through a non-immunized population, the more chances it has to mutate into strains that are more contagious or more dangerous. Although vaccination rates are still far below what is needed to slow…  Read more

COVID-19 Weekly Update – April 7th 2021

Rapid vaccine rollout across the U.S. is helping the economy here recover months ahead of European economies, as a Reuters study of data across many platforms shows. Bookings on OpenTable show that the U.S. is gradually returning to nearly normal, while those in Europe are still flatlining. Air travel is increasing, and commercial activity is also improving, especially as stimulus payments hit bank accounts. I am so grateful to have…  Read more

COVID-19 Weekly Update – March 17th 2021

Eventually, epidemiologists hope that the coronavirus will become a seasonal pathogen, not much worse than the flu. But the path to that state is not a straight line, as this article in Stat describes, breaking the continued pandemic into short-, middle- and long-term phases. With vaccines steadily reaching more people, most agree that we are at least approaching the end of the “crisis” phase. Over the short-term, we may see…  Read more

COVID-19 Weekly Update – March 10th 2021

Today could be the day! Congress is expected to vote on the 1.9 trillion Covid-19 relief bill today, Wednesday March 10th, just before the expanded unemployment insurance benefits end.  As per the Associated Press morning wire : A dominant feature of the bill is initiatives making it one of the biggest federal thrusts in years to assist lower- and middle-income families. Included are expanded tax credits over the next year for children,…  Read more

COVID-19 Weekly Update – March 3rd 2021

Congratulations! You got the COVID vaccine! I have an appointment for my first shot for this afternoon due to an underlying condition.  Now what should you/we do?  As an article in The Atlantic describes, there’s no one-size-fits-all solution, but “When deciding what you can and can’t do, you should think less about your own vaccination status, and more about whether your neighbors, family, grocery clerks, delivery drivers, and friends are…  Read more

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