Business Update – 24 May 2023
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Closed on Memorial Day
We remember those who sacrificed so we can live in a free country.
This Memorial Day, we are thankful for those who gave their lives while serving. And we’re thinking of those who have lost someone they love. Thank you for your sacrifice.
In honor of Memorial Day, Lepper & Company, LLC will be closed on Monday, May 29th. We will reopen on Tuesday, May 30th.
“This nation will remain the land of the free only so long as it is the home of the brave.” – Elmer Davis
Bill Gates says the big winner in A.I. will be whoever makes a truly useful smart assistant first
Bill Gates predicts that AI-powered smart assistants will be the big winner in the future. He believes that these assistants will be able to help people with tasks such as scheduling, shopping, and managing finances. He also believes that AI will be able to provide personalized advice and recommendations.
Small business optimism sinks in April to lowest level in a decade
Small business optimism has dropped to its lowest level in a decade, according to the National Federation of Independent Business. The decline is attributed to the economic uncertainty caused by the coronavirus pandemic, with businesses facing decreased sales, layoffs, and other challenges.
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Fed presidents signal more interest rate hikes needed to cool inflation
Federal Reserve presidents have signaled that more interest rate hikes may be necessary to cool inflation. They have expressed concern that inflation could rise too quickly if the economy continues to grow at its current pace. The Fed is expected to raise rates at least two more times this year.
Cash Saved During Pandemic is Letting Shoppers Keep Spending
The pandemic has caused many people to save more money, but some are still spending. This is due to the stimulus checks, unemployment benefits, and other government aid. People are using this money to buy items such as cars, furniture, and appliances, which is helping to keep the economy going.
Understanding America’s Labor Shortage
America is currently facing a labor shortage due to a combination of factors, such as an aging population, a lack of skilled workers, and a decrease in immigration. This shortage is causing businesses to struggle to find qualified workers, leading to increased wages and a decrease in productivity.
We are hiring! Currently, we have openings for staff accountants, seasonal tax preparers, and an administrative assistant. If you or someone you know might be interested in any of these positions, please let us know. We’d love to hear about your career aspirations and see if we may have an opportunity for you. Come grow with us!
Summer Hours
Fast-paced and hectic. If you’ve heard that tax season can be grueling, the rumors are true. Those who work in the tax and accounting profession put in a lot of long and challenging days between
January and April. During the summer, our schedule is different.
Well rested. That’s what we hope our team of professionals at Lepper & Company, LLC are after a three-day weekend each week. Our summer hours are designed to enable our team to have three-day weekends during the summer months while still getting their 40-hour workweek accomplished. This allows for more family life balance and even some additional overtime for those interested.
During the summer, our offices are open from 9:00 A.M. through 5:00 P.M., Monday through Thursday. For general inquiries, please email info@lepperaccounting.com or give us a call at 810-355-1552 and one of our administrative assistants will assist you. If you have a brief tax question, the best way to get an answer is to send an email to tax@lepperaccounting.com, and a member of our tax team will respond to you promptly. For payroll inquiries, please email payroll@lepperaccounting.com.
“The key is not in spending time, but in investing it.” – Stephen R. Covey
Zoom Earnings Top Estimates
Zoom reported a revenue of $328.2 million for Q1 2021, a 369% increase from the same period last year. The company also reported a net income of $186.2 million, a 535% increase from the same period last year. Zoom’s stock price has increased significantly since the start of the year.
Biden and McCarthy to meet as debt ceiling deadline looms
Joe Biden and Kevin McCarthy met to discuss the looming debt ceiling deadline. Biden proposed a plan to raise the debt ceiling and extend government spending, while McCarthy proposed a plan to raise the debt ceiling and cut spending. Both sides are hoping to reach a compromise before the deadline.
Get in touch
Contact us if you have any questions or want to discuss the next steps for your business.
Be well,
Your Team at Lepper & Company, LLC
