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President Biden re-entered the United States in the Paris Agreement. This is an international treaty first signed in 2015 in which countries around the globe committed to mitigating climate change. Specifically, the goal of the Paris Accord is to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. This objective would generate what is called a net zero global economy, which means creating a balance between the amount of greenhouse gases produced and the amount of greenhouse gasses removed from the atmosphere. The main engine that places carbon back into the soil is healthy vegetation that grows all years round, theseRead More →

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If you’re 40 or 50 and aren’t where you’d like to be in terms of saving for retirement, don’t despair. You can remedy this situation. And since people are living well into their 80s and 90s, it’s never too late to start. Here are a few things you can do. Max Out Your 401(k) This could be a game-changer. Stuart Ritter, a certified financial planner with T. Rowe Price, recommends that you save at least 15 percent of your income for retirement, including the amount your employer matches. If your company is contributing 3 percent, then you should save 12 percent. If you can’t goRead More →

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Accurate and timely accounting is critical for any business’ survival. At the same time, it’s important for entrepreneurs to pour their energy into core business activities and not waste time on day-to-day bookkeeping. Unfortunately, the cost of setting up a full-time accounting department is prohibitive for small and mid-sized businesses. Thankfully, there is an option to outsource functions such as bookkeeping, payroll, tax services, financing, budgeting, chief finance officer services, and more to a third party. In this article, we discuss how to know if you are ready to outsource, the benefits, and how to choose the right professional. How to Know if You ShouldRead More →

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A bill to provide for the publication by the Secretary of Health and Human Services of physical activity recommendations for Americans (S 1301) – This bill authorizes the Secretary of Health and Human Services to publish guidelines of recommended physical activity for Americans. The bill was introduced by Sen. Sherrod Brown (D-OH) on April 22, passed in the Senate on July 30 and is under consideration in the House. Dr. Lorna Breen Health Care Provider Protection Act (S 610) – This bill was introduced by Sen. Tim Kaine (D-VA) on March 4. The purpose of this legislation is to establish grants and require activities designedRead More →

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Tis the season for summer jobs for high school and college kids. These seasonal jobs are more than just an opportunity for teens and college students to earn some money and gain experience. They also provide the opportunity for seeding a significant retirement nest egg and even a down payment on a home through a Roth IRA. Seems too good to be true? Well, it’s not – but as always, the devil’s in the details, and it is not exactly a free lunch. So, let’s walk through exactly how this all works. Step 1 – Earned Income First, teen or college students must get aRead More →

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According to the Bureau of Economic Analysis, consumer spending has seen some interesting trends over the first half of 2021. May was flat, April was at 0.9 percent, March was 5.0 percent, and February was at 1.0 percent. With varied consumer spending statistics as the nation comes out of the pandemic, it’s important for businesses to get demand forecasting as accurate as possible. According to The University of Tennessee, Knoxville, demand forecasting is “a method for predicting future demand for a product.” It’s a calculated method to plan for inventory and helps prepare the supply chain for the future. Demand forecasting helps businesses forecast theirRead More →

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According to the U.S. Energy Information Administration’s Short-Term Energy Outlook, the June price of $73 per barrel for Brent Crude Oil was up by $5 per barrel over May. With more vaccinations being rolled out, uncertainty over OPEC+’s production moves, and a reduction in worldwide oil availability, the outlook for oil prices seems upward. If the price of energy – especially oil – keeps increasing, will it halt the improving economy in its tracks? As part of the commodity boom, crude oil is not immune from the rapid rise, creating an increase in inflation that’s subject to contention of being “transitory” or longer-term. Based onRead More →

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According to Fidelity Investments, the average 65-year-old couple retiring today will need about $300,000 for out-of-pocket healthcare expenses during retirement. And that doesn’t even include long-term care. One way to help pay for this enormous cost is to open a health savings account (HSA), which is a savings and investment vehicle designed to help people pay for medical-related expenses on a tax-free basis. To open one of these accounts, you must be enrolled in an HSA-eligible, high-deductible health insurance plan (HDHP). These are offered by many employers and also are available on the individual insurance market. One of the little-known advantages of the HSA isRead More →

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You’ve got loads of experience in your field. You know things that only time can teach you. However, all of your experience and knowledge can sometimes work against you. And even though age discrimination is illegal, it doesn’t mean it isn’t prevalent. You can’t turn back the clock, but you can reshape how you present yourself. Here are a few good ways to get started. Learn New Skills If you see a job posting in your industry that requires knowledge of the software you don’t know, hop on YouTube or enroll in an online class. Certifications help, too, and are available in some of theRead More →

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Technology has no doubt changed the traditional way of doing things. Businesses and professionals are left with no choice but to adopt new technology to remain relevant in a changing environment. However, the successful adoption of this new age in accounting can happen only if you prepare your staff in advance. Why it’s Necessary to Prepare for the New Age Accounting Technology offers many benefits; however, the constant rapid changes in technology create a major challenge to organizations and even to the professionals/employees. Some decide to stick with systems with which they are already proficient. Unfortunately, such a decision is not an option if youRead More →