Is Household Wealth on the Decline?

Based on the latest updates from Thomson Reuters, the average household wealth saw a major drop in the second quarter of the current year. It was predicted that total households lost a record $6.1 trillion in wealth in the second quarter dropping to $143.8 trillion at the end of the second quarter compared to $150 trillion at the end of last year. The federal government is carrying out various initiatives to turn things around including lowering the current interest rate. If you are running a business, especially in the current market, you should keep an eye on the current development in order to stay ahead of time. When was the last time you look at your financial statements and when was the last time you assess your current year-to-date tax position? Are you giving your hard-earned money away to the IRS? If you feel that your business could benefit from better tax planning or financial planning, wait no more, call us today at 832 295 3353. #Business #Economy #Tax #Planning #Finances