A unique item that is happening in our macro economy, in terms of its impact and the headlines it has been generating, are tariffs. We receive a lot of questions about tariffs, especially those between the U.S. and China, and how they affect our economy and individual portfolios. Well, the not so popular answer is…it depends.
On September 1, 2020, the President’s office gave an executive order that would delay certain payroll taxes until 2021. You may or may not have been aware of this payroll tax holiday and may even be asking, what does it mean? Some of you may have already seen this in your paycheck in the form of more money but how does it work?
COVID-19 has turned our world upside down over the last four months or so. The effects have been far reaching on things like work, school, health, and of course, our economy. So, with regards to legislation, what are the current effects of the pandemic? Here are three things to be thinking about now:
The last couple months have been extremely dynamic with nationwide closings due to the COVID-19 pandemic. We are now beginning to see states re-open from an economic standpoint. So, what does that mean? Admittedly it is hard to figure that out at this point. We are going to have to wait and see as we get several weeks and even months into the re-open. Here are a few things to keep in mind, especially if you are a small business owner, about how to approach this time.
There have been several different dynamics we have observed, and of which we have lived, over the last 20 years since North Main Financial Group has been in business. We had the Internet boom, and then bubble, and then the bursting of the bubble at the end of the 1990s and into the early 2000s. We then had what some would describe as a real estate bubble happening from 2005 to about 2007. Then we had the economic crisis of 2008 and 2009 and the subsequent recovery since then. We've seen a lot of things over the last couple of decades, some of them good and some of them not so good.