Weekly Digest – November 17th, 2023-Counting Down the Days Until Thanksgiving

Once again I am happy to be writing this blog as I attend the 21st annual tax practitioner’s symposium ATS 2023 formerly LITPS.   We were live again this year at the Crest Hollow Country Club where I connected with my professional friends, served as a host and participated on a tax panel “The Tax Man Cometh”with Scott Ahroni, esq and several of his partners and associates.  I am keeping this week’s post short and sweet as I hope to sort through my notes and share some great takeaways over the next few weeks.

My Professional Friends at the Wednesday Morning Keynote
My Professional Friends at the Wednesday Morning Keynote
Photo Opp With Jim Bourke, Our Wednesday Keynote Speaker
Photo Opp With Jim Bourke, Our Wednesday Keynote Speaker

As in prior years I stay over at the Inn At Fox Hollow, just down the road from the event, so I can help set up in the morning and then go to dinner with friends and YES we discuss business/tax law/best practices before, during and/or after so this meal is definitely tax deductible, but fun.  My trip to the conference took me to Woodbury Long Island, where I was able to take some photos of the still colorful Long Island NY fall foliage….

Long Island Fall Colors
Long Island Fall Colors

My roommate Mitchie, a 5-month-old service dog in training is very cute, even when he is not quite behaving…

My Tax Symposium Roommate Mitchie
My Tax Symposium Roommate Mitchie

Now that our last major deadline is over I have taken extra time to walk the beach at sunrise…..

Saturday Morning Walk to RIIS Park
Saturday Morning Walk to RIIS Park
Sunday Morning Beach Walk
Sunday Morning Beach Walk
Monday Rockaway Beach Sunrise Over the Jetty
Monday Rockaway Beach Sunrise Over the Jetty
Sun Rising Tuesday Morning
Sun Rising Tuesday Morning

Glad to be able to take advantage of the sunset Monday evening before I left for the conference…

Monday Evening Sky
Monday Evening Sky

I hope everyone has a great weekend and wonderful plans for their thanksgiving holiday.  We are heading to Michigan to spend the holiday with our family and their local friends.  I am so grateful that this year I have so much to be thankful for, but I couldn’t wait another week for turkey and stuffing…

I Couldn't Wait Another Week
I Couldn’t Wait Another Week

WEEKLY TAKE AWAY

Sometimes I focus on a situation that is bothering me, maybe it’s in my control to alter the situation and that’s why it irks me so, this may be true for you as well.  As I write this week’s blog all I can think about is how grateful I am to be hearing good news about the health prospects for my family and friends.  I never want to lose sight of what is really important: our health and happiness and that of our family and friends.  Starting my day with a walk on the beach certainly helps set the stage.

TAX ISSUES/TAX PLANNING

As I attend classes and discuss and evaluate updates in tax law and best business practices, I am taking notes to share with you over the next few weeks AND you can see I was busy taking and posing for photos during the breaks…

Making Good Use of Our Step & Repeat With Karen Tenenbaum, esq Friend and Frequent Speaker
Making Good Use of Our Step & Repeat With Karen Tenenbaum, esq Friend and Frequent Speaker

ECONOMY

Businesses Take Stock of the U.S. Economy & See Reason to Be Cautious

The level of inventories, or unsold goods, that U.S. wholesalers are keeping on hand fell in September to a 13-month low amid uncertainty about whether the economy can maintain its recent momentum.

The US Economy May be Reliving the ‘Roaring ’20s’

According to UBS in this article,  “The economy’s surprising resilience this year could set the stage for a new “roaring ’20s” decade of growth, and that means growth, inflation, and rates will all stay high.”

Rising Delinquencies Offer Economic Warning Signs

According to the New York Fed’s Q3 Household Debt and Credit (HHDC) report, the share of debt newly transitioning into delinquency continues to rise for mortgages, auto loans, and credit cards.

10-Year Treasury Yield Falls as Investors Consider State of U.S. Economy

U.S. Treasury yields fell as investors assessed the outlook for the economy and monetary policy as they awaited economic data and comments from Federal Reserve officials.

Powell saysFederal Reserve ‘Won’t Hesitate’ to Raise Rates Again if Necessary,

According to Jerome Powell, 16th chair of the Federal Reserve of the United States: The Federal Reserve is far from certain that its war on inflation is over and is willing to hike interest rates past their current 22-year high if necessary.

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