Traditionally, the month of April causes much angst and nervousness, since tax returns and payments are normally due on April 15, Tax Day. Nevertheless, due to the severe winter storms and snowfall in California last year and early this year, the IRS and the California Franchise Tax Board (FTB) have extended the deadline for tax filings and payments for the 2022 tax year for Californians who are residents or have businesses..
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What a difference a few days make. Early last week, a more hawkish Fed had the market pricing in almost a coin flip between a 25bps rate hike and a 50bps rate hike. The theme was “higher for longer.” However, we ended the week with a run on the banking sector, which saw the collapse of two large regional banks. While there are echoes of the Great Financial Crisis, this time around it isn’t so much a credit issue (bad loans) but a..
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On December 29, 2022, President Biden signed into law the Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0 Act) as part of the Consolidated Appropriations Act (CAA) of 2023, the $1.7 trillion omnibus spending bill funding the U.S. federal government for the 2023 fiscal year. SECURE 2.0 is a follow-up..
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