Weekly News Round Up: Congress Reaches Tax Extenders Deal; Fed Interest Rate Hike; and Personal Finance Tips from Bruce Lee
December 21, 2015
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 Congress has reached a legislative deal on tax extenders, and the Federal Reserve has decided to raise interest rates for the first time since the global financial crisis in 2008. In addition, we offer personal finance lessons from Bruce Lee.
Congress Reaches Deal on Tax Extenders
Last week, Congressional leaders unveiled a broad package of spending and tax legislation that would avert a U.S. government shutdown and lift the 40-year-old ban on crude oil exports.
Fed Ends Seven Years of Zero Interest Rates
The U.S. Federal Reserve finally ended its zero-rate era, voting to raise interest rates to 0.25 percent, but stressed that further tightening of monetary policy will be “gradual.”
Housing Starts Pick Up 10.5 Percent in November
U.S. housing stats in November were at a seasonally adjusted annual rate of 1,173,000 — 10.5 percent above the revised October estimate of 1,062,000 and 16.5 percent above the November 2014 rate of 1,007,000.
AICPA, Rutgers Form Data Analytics Research Initiative
Rutgers Business School and the American Institute of CPAs announced the creation of the Rutgers AICPA Data Analytics Research Initiative, cosponsored by the AICPA and CPA Canada to further the integration of data analytics into the audit process and use research to demonstrate how this can advance the profession.
COSO Offers Internal Control Certification
The Committee of Sponsoring Organizations of the Treadway Commission has introduced an Internal Control Certificate Program.
Most M&A Professionals Don’t Care About The Federal Interest Rate Hike
According to Forbes Magazine, only 28 percent of M&A professionals believe that the Fed rate hike will negatively impact activity during the first-half of 2016.
7 Personal Finance Lessons From Bruce Lee
Nerd Wallet is offering these personal finance lessons from the late martial arts legend Bruce Lee.