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Fed survey of loan officers shows rising impact of higher interest rates

Fed survey of loan officers shows rising impact of higher interest rates

The Federal Reserve's latest survey of bank lending officers confirms that the dampening effect of monetary-policy tightening on borrowing and lending continued in the second quarter.
FedNow set to modernize nation’s payment system

FedNow set to modernize nation’s payment system

In addition to real-time settlement, FedNow is expected to offer several benefits to both businesses and consumers seeking better options for managing their finances.
Private foundation do’s and don’ts: Common self-dealing issues

Private foundation do’s and don’ts: Common self-dealing issues

Private foundations generally may not engage in transactions with disqualified persons, even under terms that are favorable to the private foundation.
RSM US Financial Conditions Index moving toward neutral

RSM US Financial Conditions Index moving toward neutral

With the money market at normal levels of risk, and with surging equities balancing out the caution displayed in the bond market continues to price in the possibility of a recession.
U.S. charitable donations fell last year

U.S. charitable donations fell last year

Donations to charity fell to $499 billion last year, a 3.4% decrease from 2021.
Business orders for equipment rise despite higher borrowing costs

Business orders for equipment rise despite higher borrowing costs

New orders for core capital goods, a proxy for business investment, came in higher than forecast in June, rising by 0.2%, the Commerce Department reported on Thursday.
Resilience defined as American economy continues to defy expectations

Resilience defined as American economy continues to defy expectations

Driven by the household consumption, the American economy expanded at a 2.4% seasonally adjusted annualized rate.
FOMC policy decision: The time for an end to rate hikes has arrived

FOMC policy decision: The time for an end to rate hikes has arrived

With the policy rate standing above two closely watched measures of inflation, it is now time for the Federal Reserve to allow the economy an extended period.
IRS provides guidance for required minimum distributions for SECURE 2.0 Act

IRS provides guidance for required minimum distributions for SECURE 2.0 Act

Notice 2023-54 provides transition relief and guidance relating to certain required minimum distributions based on SECURE 2.0 changes.
IRS clarifies employee retention credit guidance

IRS clarifies employee retention credit guidance

IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.
Tax Court once again denies related party bad debt deduction

Tax Court once again denies related party bad debt deduction

Proper documentation of related party cash advances is imperative if a taxpayer intends to substantiate the advances as debt for tax purposes.
The road to financial transformation

The road to financial transformation

Review RSM's finance function assessment to illuminate specific actions to achieve accounting and finance process optimization.

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  • Johnson & Sheldon, PLLC
    Amarillo Location
    500 S Taylor St Suite 200
    Amarillo, TX 79101

    Phone: 806-371-7661
    Fax: 806-371-0529
    Email: ebaten@amacpas.com

    Johnson & Sheldon, PLLC
    Pampa Location
    2004 N. Hobart
    Pampa, TX 79065

    Phone: 806-665-8429
    Fax: 806-665-8804
    Email: fbeavers@amacpas.com

    Johnson & Sheldon, PLLC
    Hereford Location
    119 E 4th St
    Hereford TX 79045

    Phone: 806-364-4686
    Fax: 806-364-0826
    Email: khollingsworth@amacpas.com

    AICPA
    Texas CPA Certified Public Accountant

    We are clients of the RSM Professional Services+ Practice. As a client, we have access to the Professional Services+ Collaborative, a globally connected community that provides access to an ecosystem of capabilities, collaboration and camaraderie to help professional services firms grow and thrive in a rapidly changing business environment. As a participant in the PS+ Collaborative, we have the opportunity to interact and share best practices with other professional services firms across the U.S. and Canada.