Weekly Digest – November 24th, 2023-Happy Thanksgiving 🦃, Happy Holiday

Black Friday, for me is a day to sleep in, post my weekly blog/newsletter and spend the day with family.  We arrived in Michigan late Wednesday evening and have been enjoying this family time.  Take a look at my weekly take away and you will see this week what is most important to me, as I keep this very short and sweet…

Detroit Delta Lounge Meet-Up for Next Flight ✈️
Detroit Delta Lounge Meet-Up for Next Flight ✈️
Row 14 As We Fly into Kalamazoo International Airport,
Row 14 As We Fly into Kalamazoo International Airport,

We arrived and are thrilled to be spending thanksgiving together with family and friends…

Rory Globerson-Katz, Our Granddog
Rory Globerson-Katz, Our Granddog

Thanksgiving morning, a beautiful view from the back deck at sunrise…

Sunrise on Gourdneck Lake, MI
Sunrise on Gourdneck Lake, MI

We had a great time prepping and then drove to Ann Arbor, MI for a great time with family and friends…

Baked Brie; My Daughters Were Art Majors
Baked Brie; My Daughters Were Art Majors
Our Thanksgiving Spread, Ann Arbor, MI
Our Thanksgiving Spread, Ann Arbor, MI

I hope you have great plans for today and the weekend and that you will be enjoying your family and friends.

WEEKLY TAKE AWAY

As I write this week’s blog I am in Michigan visiting with my kids and their significant others. The house is quiet as they all slept in, something we needed after a hectic few days of planning, traveling, cooking and visiting.   All I can think about is how important it is to be present for our friends and family.  In the car ride home from my daughter’s father-in-law’s home we reflected on this.  We say life is short so focus on what is important and make time for who you love and what you love doing.  I actually shot a video back in 2019 as part of a series for intuit about creating time for what’s important and then this short video/blog as well.  Back then I was reflecting on how a huge change in my business focus and practice had helped me create time, and that continues to hold true for me.  Create time for what’s important and then take that time to enjoy those things, like a walk on the beach…

Time to Walk on the Beach
Time to Walk on the Beach

TAX ISSUES/TAX PLANNING

Continuing Appropriations Act, 2024 H.R. 6363

It’s Thanksgiving, in my office we are thankfull that the government shutdown has been temporarily averted: Last week Presidant Joe Biden signed a temporary funding bill H.R. 6363  to keep our government open until next year.   That staves off a government shutdown and postpones a congressional showdown on a wider spending bill into the new year.  That’s something to be thankfull for.  I had been watching the news to find out specifics about the effect on the IRS and our ability to work with the IRS taxpayer’s advocate service (TAS) to help our cleints with lingerging tax issues that need a bit more help.  Right now I know we have until at least mid-January 2024.  It’s a big win for us.

ECONOMY

US Renters Remain Burdened as Insurance Pressures on Landlords Mount

Median renter households in the US remained burdened in the third quarter, with 30% of their income going to rent. Renters are considered “burdened” if their rent payments consume 30% or more of their gross, or pre-tax, income.

Government Shutdown Averted: Biden Signed Temporary Spending Bill to Keep Government Open Until Next Year

Last week President Joe Biden signed a temporary funding bill H.R. 6363 that staves off a government shutdown and punts a congressional showdown on a wider spending bill into the new year.  That’s something to be thankfull for.  I had been watching the news to find out specifics about the effect on the IRS and our ability to work with the IRS taxpayer’s advocate service (TAS) to help our cleints with lingerging tax issues that need a bit more help.  Right now I know we have until at least mid-January 2024

Here’s Why Moody’s ‘Negative’ U.S. Credit Outlook Matters

Ratings firm Moody’s lowered its assessment of U.S. credit outlook from “stable” to “negative” Friday, underscoring America’s worsening fiscal standing and the implications of political dysfunction.

When is Black Friday and Which Deals are Shoppers Looking For?

It’s today and retailers are preparing for what they hope will be yet another record-setting global shopping spree on Black Friday, the fourth Friday of November, which this year is Nov. 24.  I prefer to sleep late, have breakfast with my family then spend the day with them outside enjoying the brisk Michigan weather.  Of course I am probably not the norm as I hate shopping🛍🛒🏪.

Goldman Says Inflation Entering Its ‘Final Descent’ and Interest Rates Will Settle —But They Won’t Return to Near-Zero

The Federal Reserve’s high-stakes campaign to curb inflation will soon begin to show clear signs of deceleration, Goldman Sachs economists said in their 2024 outlook shared Sunday, but they don’t expect interest rates to come back down to the previous low levels any time soon.

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