Expertise Beyond the Numbers

Weekly News Round Up: Consumer Spending Increases; Small Companies Dropping Health Benefits; and Personal Finance Lessons for Small Children

Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.

This week, we highlight how consumer spending has slightly increased but inflation still remains low. In addition, small companies are moving away from providing health benefits to their employees, and the IRS issues a warning about robocalling scammers.

Consumer Spending Keeps Up Solid Growth

With a four percent gain, consumer spending continued to be a bright spot for the U.S. economy in June, but inflation remained well below the Federal Reserve’s target.

Small Companies Are Dropping Health Benefits

A new study shows that many employers with less than 100 workers have gotten out of the health-care game since the Affordable Care Act’s passage in 2010.

Regulator Seeks Tougher Rules on Debt Collectors

The U.S. Consumer Financial Protection Bureau has proposed new rules for the debt collection industry that include limiting collectors’ communications with debtors.

IRS Proposes to Change Rules for Tuition Expenses

The Internal Revenue Service has proposed new regulations that could change the rules for reporting qualified tuition and related expenses for students.

IRS Warns of Robocalling Scammers

The Internal Revenue Service is seeing a big increase this summer in automated phone calls from con artists pretending to work for the IRS calling innocent taxpayers demanding overdue taxes.

Shareholder Lawsuits Over Big M&A Deals Drop

The percentage of merger and acquisition deals valued over $100 million that have been challenged by shareholder litigation dropped below 90 percent in 2015 and in 2016’s first half for the first time since 2009, according to a new study.

Teach Your Children These 5 Crucial Personal Finance Lessons

US News & World Report is offering these five key personal finance lessons for children.