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Accounting Solutions Ltd., 3227 W Bryn Mawr Avenue, Chicago, IL (2026)

We excel at timeliness and communication, while providing results at a reasonable price point.

07/20/2026

2M Eligible Workers Locked Out Of The Workforce

By most key metrics, the U.S. labor market is in fine shape with the economy adding new jobs for the past four months. Overall, the picture is much improved from the end of last year with the unemployment rate decreasing to 4.2%.

Yet nearly two million Americans have been locked out of the job market for at least half a year.

Long-term unemployment, which is defined as people out of work for 27 weeks or more, accounted for 27.3% of all unemployed people in June. This was up 4% from a year earlier.

That's hovering near its highest point since the C19 period. Federal data suggests that white-collar workers are spending the most time on the sidelines, with those in their prime working years particularly affected by long-term unemployment.

American employers are still largely stuck in a low-hire, low-fire mode even though job growth has improved from a very weak 2025. Hiring as a share of employment has barely budged in the last two years.

Labor Department data shows that...

1 - Long-term unemployment is hitting workers most heavily in their prime working years, between the ages of 25 and 54.

2 - Workers from their mid-20s to mid-30s represent both the highest number of overall jobless people and the highest portion of the long-term unemployed.

The jobless drought appears to be hitting white-collar workers especially hard. More than a third of people out of work in the professional-services sector have been unemployed for six months or more.

Other fields with a substantial portion of the long-term unemployed include

1 - Government workers hit by federal cuts
2 - Finance and
3 - Information Technology.

AI’s impact on the job market remains a big question, though some companies have cited AI investments while announcing layoffs. Many firms have also unveiled plans to cut layers of management after a hiring binge following the C19 pandemic.

Let me leave you with this...

Over the past two years, Illinois has experienced a net decline in payroll jobs, shedding thousands of positions across manufacturing, healthcare, logistics, and retail. Though official numbers vary, our state has lost between 2,300 and 3,400 jobs in the past two years.

Our unemployment rate is currently 5.1%. That's the eighth highest in the nation.

And why are so many employers either cutting their workforces or moving out of state?

Our state budget spending has increased by roughly $19.6 billion over the past eight years. General fund spending grew from about $36.4B in Fiscal 2019 to a record $56B for the 2027 state budget.

This represents a total spending increase of nearly 54%.

The median Illinois household pays nearly $1,400 more annually in state taxes compared to levels before 2019. Overall, the typical Illinois family loses nearly 17% of its income to state and local taxes.

This is the highest tax burden in the entire United States

Does anyone even begin to wonder why we're losing so many jobs? And our Governor wants to be President.

Accounting Solutions Ltd. remains your last line of defense against high taxes. If your having problems with your accounting or tax work, or would like to reduce your overall tax burden, please call us today.

We're all going to get through this. Let's get through it together.

Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Payroll Services, Accounting and Tax Work, Tax Planning, or Tax Representation, you have but to ask. I'm here and I remain,

Sincerely yours,

Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300

www.AccountingSolutionsLtd.com

Disclaimer: The content on our website or newsletter is provided solely for general informational purposes and should not be construed as tax, accounting, legal, investment, or professional advice of any kind. Accessing this information does not create, and is not intended to create, an accountant-client relationship. This information may not reflect the most current tax laws, accounting standards, or regulatory developments and may not apply to your specific jurisdiction or circumstances. It is not a substitute for consulting qualified professionals. Before making any decisions or taking any actions, you should seek advice from a professional who is fully informed of all relevant facts pertaining to your situation.

Tax-related content on this site is not intended, nor may it be used by any taxpayer, to avoid penalties that may be imposed under applicable tax laws. To comply with IRS requirements, we inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties or promoting, marketing, or recommending any transaction or matter addressed herein.

All information is provided “as is,” without any guarantee of completeness, accuracy, or timeliness, and without any warranty, express or implied, including but not limited to warranties of performance, merchantability, or fitness for a particular purpose. We disclaim all liability for any loss or damage arising from reliance on this information.

Links to third-party websites are provided for convenience only; we do not endorse or assume responsibility for their content. All materials are the property of our firm and may not be reproduced without prior written consent.

07/17/2026

A New Retirement Planning Concept For Entrepreneurs

The number of entrepreneurs between 55 and 64 years old who incorporated new businesses increased 22% over the past decade, compared with a 0.6% increase in total population. I'm also seeing a larger number of entrepreneurs who alter their businesses instead of retiring completely, to provide continuing income during retirement.

My point is that a business should fit the entrepreneur, rather than the other way around. Therefore, one should consider many options when planning for a long retirement.

The Carpenter

Let's say that you're a contractor, or that you own some other type of business that requires physical labor. You've been climbing ladders and swinging hammers for the past thirty years.

All of a sudden you're in your late sixties and your body isn't cooperating like it used to. In the old days, many would just close up shop, sell off their equipment, and retire based on their savings and a Social Security check.

But you have thirty years of happy and loyal customers who are going to continue to call you. As such, there are options to consider.

I have lots of clients who decided to continue taking those calls and selling those jobs. They simply find another company or someone younger to handle the physical work.

At that point, they can continue to earn much needed retirement income and not have to worry about a long retirement.

The Grocery Store Owner

Let's say that you've owned a retail store for the past forty years. You work fifty hours per week and just can't stock the shelves the way you could in your thirties.

You want to take some time getting to know your grandchildren and are worried about outliving your money. These crazy doctors are keeping people alive much longer than they used to.

Do you face an either - or situation? Do you either work your store or get completely out?

There was a time when that was true, but that's no longer the case.

You could hire a store manager to work the long hours and focus only on the CEO parts of the job that require your skill set. At that point you still have a retirement income and you get to spend time teaching your grandkids to fish.

There's a difference between owning a business and running one. Again, the business should fit you and your lifestyle.

Increasingly, entrepreneurs realize this basic fact and make changes that better reflect the changing world around them.

Let me leave you with this...

If you've read me long enough you probably know that I'm one-third Native and one-sixth Black on my Mother's side. My father died when I was four, and I was raised primarily by my Mother as well as my Grandfather and Grandmother in the Cherokee Tradition.

For thousands of years, when a Cherokee Boy reaches the age of twelve or thirteen and it's time for him to become a man in eyes of the tribe, he is given a test. He's taken out to the woods where he must stay the entire night, by himself without any weapons, and not go home.

If he does go home during the trial, he will never be considered a man and is usually expelled from the tribe altogether. Imagine the bravery that such a test requires.

You're twelve-years-old, spending a night in the woods by yourself. Every rustling leaf, every sound an animal makes in the night scares the living daylights out of you.

You imagine bears coming to eat you, snakes coming to kill you, and anything else your twelve-year-old mind can possibly conjure. It ain't easy.

You want to run home. You need to run home. But you don't because the alternative of no longer having a home is much more scary.

And by some wild happenstance, you make it. The sun rises in the east, and what do you see?

Your Father or Grandfather stands thirty or forty feet away with a forty-five on their hip and a shotgun in their hands. They've been there all night long, making sure you were safe.

You erupt in tears and run to them shouting, "Why? Why would you leave me alone and not let me know that you were here all along?"

Your family member's answer is always the same. It's the same answer Cherokee Boys have heard for millennia.

"So that you would learn that as long as you have family, as long as you are Cherokee and a part of the tribe, that no matter what happens in this life, no matter what troubles befall you, you will never, ever be truly alone."

I tell you this story so that you can understand what my organization actually is to all of our clients

We're that Father or Grandfather standing in the woods, protecting all of our clients in the dark of night. As long as we're there, they're never truly alone.

In other words, we're family.

If you're having problems with your accounting and tax work, I'm waiting for your call.

We're all going to get through this. Let's get through it together...

Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Payroll Services, Accounting and Tax Work, Tax Planning, or Tax Representation, you have but to ask. I'm here and I remain,

Sincerely yours,

Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300

www.AccountingSolutionsLtd.com

Disclaimer: The content on our website or newsletter is provided solely for general informational purposes and should not be construed as tax, accounting, legal, investment, or professional advice of any kind. Accessing this information does not create, and is not intended to create, an accountant-client relationship. This information may not reflect the most current tax laws, accounting standards, or regulatory developments and may not apply to your specific jurisdiction or circumstances. It is not a substitute for consulting qualified professionals. Before making any decisions or taking any actions, you should seek advice from a professional who is fully informed of all relevant facts pertaining to your situation.

Tax-related content on this site is not intended, nor may it be used by any taxpayer, to avoid penalties that may be imposed under applicable tax laws. To comply with IRS requirements, we inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties or promoting, marketing, or recommending any transaction or matter addressed herein.

All information is provided “as is,” without any guarantee of completeness, accuracy, or timeliness, and without any warranty, express or implied, including but not limited to warranties of performance, merchantability, or fitness for a particular purpose. We disclaim all liability for any loss or damage arising from reliance on this information.

Links to third-party websites are provided for convenience only; we do not endorse or assume responsibility for their content. All materials are the property of our firm and may not be reproduced without prior written consent.

07/15/2026

What Everyone Needs To Know About The Current Inflation And Interest Rates

Consumer prices were up 3.5% in June from a year earlier, beating expectations and improving from the 4.2% inflation rate in May. Most analysts had expected the rate to be at 3.8%.

Over the month, consumer gasoline prices dropped substantially from May. But even excluding food and energy products, prices were broadly flat, which is evidence that inflation trends have improved.

But oil prices have recently rebounded after the end of the Iran War Ceasfire. That suggests that July won’t bring as much good news as this current inflation reading.

Let me leave you with this...

Kevin Warsh's swearing-in as the new Fed Chair on May 22, 2026, prompted a great deal of reflection on the tenure of the prior chairs and speculation about the new chair's interest-rate policies. The following chart shows the last eight Fed Chairs, their start dates, and the yield on the 10-Year Treasury Bond at the time.

Fed Chair Date Sworn In 10 Year Yield %

Arthur Burns 1/31/1970 7.754%
G. William Miller 3/8/1978 8.034%
Paul Volcker 8/6/1979 8.914%
Alan Greenspan 8/11/1987 8.722%
Ben Bernanke 2/1/2006 4.559%
Janet Yellen 2/3/2014 2.578%
Jerome Powell 2/5/2018 2.707%
Kevin Warsh 5/22/2026 4.562%

The 10-year Treasury note yield is not a rate controlled directly by the Fed. But it is a good proxy for mortgage interest rates and corporate debt. Mortgages and corporate debt are important drivers of the real economy, and their yields reflect economic conditions generally.

Conventional wisdom suggests the Fed must raise interest rates to control inflation. But raising rates would probably be a mistake given the history and actions of many of the Fed Chairs.

The interest rates shown only tell a small portion of the story. To see the real picture, one must subtract the current rate of inflation to get what is known as a Real Interest Rate.

The concept is that if you're getting a 5% yield on a bond, and inflation is 4%, you're really only getting 1% on your money. In fact given certain conditions, if the interest rate is higher than the yield, you're losing money.

The following chart includes an adjustment for inflation...

Fed Chair Date Sworn In 10 Year Yield % Real Rate %

Arthur Burns 1/31/1970 7.754% 2.03%
G. William Miller 3/8/1978 8.034% 0.44%
Paul Volcker 8/6/1979 8.914% -2.44%
Alan Greenspan 8/11/1987 8.722% 4.29%
Ben Bernanke 2/1/2006 4.559% 1.33%
Janet Yellen 2/3/2014 2.578% 0.96%
Jerome Powell 2/5/2018 2.707% 0.31%
Kevin Warsh 5/22/2026 4.562% 0.76%

The chart revised for real rates shows some interesting data. Kevin Warsh is starting as Fed chair with the fourth-lowest nominal rate and the fourth-lowest real rate out of the last eight chairs.

Looking solely at this data one could conclude that real rates are not particularly high as Warsh enters office. But if inflation rises from here which is likely in the short run, then real rates could actually go negative unless Warsh raises nominal rates.

This would support a policy-rate increase by the Fed in the coming months.

But that knee-jerk reaction to inflation is not the right course. The reason is that inflation has two causes.

1 - Supply-chain disruption, or what economists call cost-push inflation. In effect, higher commodity costs push higher costs up the supply chain until they reach the consumer.

2 - Consumer behavior, or demand-pull inflation. The idea is that consumers pull purchases forward to avoid future price increases. This increases the velocity of money and causes price increases in a way that feeds on itself.

The difference is critical in terms of policy. The cure for cost-push inflation is simply to wait. Higher costs tend to extinguish themselves through demand destruction and substitution. It’s self-negating.

The cure for demand-pull inflation is to raise interest rates. That tends to lower velocity and raise the cost of using credit. Demand-pull inflation is self-reinforcing unless some force intervenes to change behavior. That force can be higher interest rates.

Fed Chair Burns responded to an oil-price shock by raising rates, a decision many economists believe worsened the 1974 recession. He would have done better to keep real rates lower and let the price of gasoline stabilize, which it eventually did.

Fed Chair Paul Volcker caused two of the worst recessions in U.S. history in 1980 and 1981–82 when he raised interest rates to 20% to combat an extreme case of demand-pull inflation. That was needed to some extent, but he could have avoided the worst effects by raising rates sooner.

Burns and Volcker both presided over recessions, but for entirely different reasons. Burns raised rates when he should have refrained. Volcker raised rates but waited too long to do so. The difficulty was that Burns faced a supply-chain disruption while Volcker faced a change in consumer behavioral psychology.

Warsh finds himslef in a situation similar to the one Burns encountered, where inflation is being caused by suppy chain disruptions. Warsh should cut rates to help the economy while cost-push inflation cools down on its own. Instead,

Warsh is being urged to apply the Volker Remedy of higher rates. This may bring down inflation, but at the cost of a recession. Warsh himself in a situation similar to the one Burns encountered, where inflation is being caused by supply-chain disruptions. Warsh should cut rates to help the economy while the cost-push inflation cools down on its own.

Instead, Warsh is being urged to apply the Volcker remedy of higher rates. That may bring down inflation, but at the cost of a recession.

As usual, the Fed staff and mainstream media focus on the myth of Volcker, excluding other analyses and policy choices. Those who don't study history are doomed to repeat it.

I present this evidence as a way for many to plan.

If cooler heads prevail and the Fed doesn't raise interest rates in the short term, our economy has a chance to continue chugging along. But if they raise interest rates, the opposite is quite possible.

And right now, many consider the chances of either eventuality to be a coin flip.

Be cautious and conservative in your business planning. Watch what happens over the next several months.

I wouldn't be in a hurry to begin new business plans. If there's any fat in your organization, cut it now. Horder your cash like a Viking King.

If the music stops, I don't want you to be left without a chair.

The problem is that we don't actually know where Chairman Warsh's head is at. We haven't yet seen him over a course of ground.

Hang in there. Be prepared for any eventuality.

If you're having problems with your accounting and tax work, please don't hesitate to contact us. We'd love to help.

We're all going to get through this. Let's get through it together...

Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Payroll Services, Accounting and Tax Work, Tax Planning, or Tax Representation, you have but to ask. I'm here and I remain,

Sincerely yours,

Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300

www.AccountingSolutionsLtd.com

Disclaimer: The content on our website or newsletter is provided solely for general informational purposes and should not be construed as tax, accounting, legal, investment, or professional advice of any kind. Accessing this information does not create, and is not intended to create, an accountant-client relationship. This information may not reflect the most current tax laws, accounting standards, or regulatory developments and may not apply to your specific jurisdiction or circumstances. It is not a substitute for consulting qualified professionals. Before making any decisions or taking any actions, you should seek advice from a professional who is fully informed of all relevant facts pertaining to your situation.

Tax-related content on this site is not intended, nor may it be used by any taxpayer, to avoid penalties that may be imposed under applicable tax laws. To comply with IRS requirements, we inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties or promoting, marketing, or recommending any transaction or matter addressed herein.

All information is provided “as is,” without any guarantee of completeness, accuracy, or timeliness, and without any warranty, express or implied, including but not limited to warranties of performance, merchantability, or fitness for a particular purpose. We disclaim all liability for any loss or damage arising from reliance on this information.

Links to third-party websites are provided for convenience only; we do not endorse or assume responsibility for their content. All materials are the property of our firm and may not be reproduced without prior written consent.

07/13/2026

What We All Need To Know About A Recent Tax Court Decision

Dr. Keith Schumacher and his wife Rhonda are a Nebraska couple engaged in breeding and training horses. They did what many taxpayers with costly hobbies do, or would like to.

They claimed their horse interest was a business, making the net losses from it deductible against their other income. In the Schumachers’ case, the horse-related losses were largely responsible for reducing their taxes by a total of nearly $200,000 between 2017 and 2019.

Their returns were audited, and the losses were deemed a hobby, making them non-deductible. This created additional tax, interest, and penalties for the Schumachers. The couple appealed, where they also lost.

The case was then presented in Tax Court where the Judge also rejected the couple’s horse-related deductions. One reason was that they didn’t show they intended to make a profit from their horse business during the years in question.

The Tax Court did not impose the maximum penalties, which saved them $34K, but it still left Mr. and Mrs. Schumacher with a monster tax bill.

Let me leave you with this...

Every year I have a customer or two come to me with a hobby that consistently loses money, and they want a tax deduction for it.

The lure of easy deductions can be strong. If you could get another $20,000 in deductions for your baseball trading addiction, then why not?

Proving that a hobby is a for-profit enterprise, which makes those losses deductible, is a slippery slope that everyone should understand. Some of the necessary questions when making this decision are...

1 - Do you carry out the activity in a businesslike manner such as maintaining separate financial records, bank accounts, and business plans?

2 - Do you have the necessary expertise or consult with advisors?

3 - Do you and your employees put in the requisite time and effort?

4 - Do you expect the assets to appreciate in value?

5 - Have you made a profit in similar activities in the past?

6 - What is the overall history of income and losses? Are losses due to startup phases, or unforeseen disasters?

7 - Have there been occasional profits?

8 - Do you rely on the income for your livelihood or stable financial status?

9 - Is the activity undertaken purely for personal pleasure or recreation?

The IRS loves to audit these situations. If you throw large losses on a Schedule C for multiple years, the chance of an audit is high.

And the cards are going to be stacked against you. Walking into the examination, the auditors will already presume that you're guilty.

Think about it. How many people make a reasonable living trading Major League Baseball Cards?

Probably a few, but not many.

I have two hobbies being sailing and wine making. In the 35 years that I've enjoyed these hobbies, I've never tried to deduct a penny from these activities. Why?

Because I could never correctly answer all nine questions that I just presented. Make no mistake about it.

This is not a majority rules type of thing. You must answer all nine correctly. Eight out of nine won't pass muster.

And if they open up one year where you lose, they'll certainly go back to the three year statute of limitations, open up two more years, and hit you with tax, interest, and penalties on all three.

Be smart. Don't take the risk.

As always, if you're having difficulties with your accounting and tax work, please contact us today.

We're all going to get through this. Let's get through it together...

Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Payroll Services, Accounting and Tax Work, Tax Planning, or Tax Representation, you have but to ask. I'm here and I remain,

Sincerely yours,

Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300

www.AccountingSolutionsLtd.com

Disclaimer: The content on our website or newsletter is provided solely for general informational purposes and should not be construed as tax, accounting, legal, investment, or professional advice of any kind. Accessing this information does not create, and is not intended to create, an accountant-client relationship. This information may not reflect the most current tax laws, accounting standards, or regulatory developments and may not apply to your specific jurisdiction or circumstances. It is not a substitute for consulting qualified professionals. Before making any decisions or taking any actions, you should seek advice from a professional who is fully informed of all relevant facts pertaining to your situation.

Tax-related content on this site is not intended, nor may it be used by any taxpayer, to avoid penalties that may be imposed under applicable tax laws. To comply with IRS requirements, we inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties or promoting, marketing, or recommending any transaction or matter addressed herein.

All information is provided “as is,” without any guarantee of completeness, accuracy, or timeliness, and without any warranty, express or implied, including but not limited to warranties of performance, merchantability, or fitness for a particular purpose. We disclaim all liability for any loss or damage arising from reliance on this information.

Links to third-party websites are provided for convenience only; we do not endorse or assume responsibility for their content. All materials are the property of our firm and may not be reproduced without prior written consent.

07/08/2026

New Retirement Accounts Get a Major Boost From The IRS And Major Employers

The accounts known as 530A Accounts (a/k/a Trump Accounts), are available for children under age 18. Parents or guardians of babies born between 2025 and 2028 who open these tax-deferred accounts will receive a $1,000 initial deposit from the U.S. Department of the Treasury.

To help fund these investment accounts, a growing number of employers have said they'll match the federal $1,000 contribution for their employees' children. Those employers include...

1 - Bank of New York Mellon
2 - BlackRock
3 - Charles Schwab
4 - Charter Communications
5 - Chime Financial
6 - Chipotle Mexican Grill
7 - Comcast
8 - Goldman Sachs
9 - Intel
10 - JPMorgan Chase
11 - Micron Technology
12 - Morgan Stanley
13 - Robinhood
14 - SoFi

In addition, the Treasury Department and the IRS issued new guidance for a provision in the One Big Beautiful Bill Act (OBBBA) related to 530A Accounts. It provides a safe harbor so that individual donors to these accounts in a given year will not be subject to gift tax reporting requirements

As long as certain conditions are satisfied, including not exceeding this year's annual gift tax limit of $19,000 per donor, taxpayers covered will not be required to file gift tax returns reporting the contributions. That's $19,000 per donee.

If Granny and Grandpa each pitch in $19K for junior, that becomes $38K per year per child without the need to complete a gift tax return.

As of June 4th, the IRS had received nearly six million elections to open a 530A Account.

Let me leave you with this...

Several warning signals are flashing in our economy. It's important for you understand what's happening.

Devaluation Of The US Dollar

Since the beginning of the new administration, the US Dollar's value has decreased by a little over 6%. This means that every dollar sitting in your savings account has lost a significant amount of its buying power.

I've written a lot about the Mar-A-Lago Accord, when President Trump sat down with Scott Besent and Steve Miran to discuss the economic policies of his second administration. One outcome of this meeting was the intentional reduction of the dollar's value.

Why? This makes our exports more attractive to foreign buyers, which in turn puts more union workers to work. But another factor is at work in this devaluation.

For the last fifty years, if a foreign country wanted to buy oil from middle east producers, the transaction had to be done in U.S. Dollars. The purchase of so-called Petrodollars consistently inflated the value of the dollar.

Greater demand increased its value. But now producers like the U.A.E. are no longer accepting our currency for these transactions.

These purchases are now being completed in Chinese Yuans.

The Treasury Bill Crisis

The Treasury Department routinely auctions off Treasury Bonds to finance our out-of-control spending habits. But there's a new wrinkle that just reared it's ugly head.

The number of buyers for our debt is drying up. At a recent auction, the Treasury Department had to buy back $15B of its own debt because no one else wanted it.

They nicely labeled this a "Liquidity Event", but don't get caught up in the rosy nomenclature. Think about the implications.

Foreign buyers no longer trust our government's ability to pay the interest on these bonds. With the record deficits our country has run over the past fifty years, how can you blame them?

And how did the Treasury come up with the $15B to buy back these notes? They printed it.

When you put more money into circulation, you further devalue any fiat currency, but that's not even the worst part.

Another $9T and $10T of already issued treasury bonds are maturing before the end of this year. Who's going to buy those?

Time will tell.

The Rise Of AI

Artificial Intelligence is a fact of life. You can scream and yell all you want, but it's going to happen.

No one can stop this moving train.

It's conservatively estimated that 11K to 16K jobs are being lost to this phenomenon every month. By 2030, another 10M to 15M jobs are predicted to be lost.

And what are these people going to do to eat? If they stay in the US, they certainly aren't going to be paying any taxes.

What will that do to the deficit? I'll give you 99 guesses as long as the first 98 don't count.

The current administration and our largest tech companies are pulling out all the stops to ensure we win this race. Why?

Because whoever controls AI will probably control most of the world for the next couple of hundred years.

How much money do you think those out-of-work Americans will spend? What will that do to the economy?

Probably not great things.

Did Any Of Us Forget Tariffs?

They didn't go away. They just got smaller.

By definition, this is inflationary. What does higher inflation do to an economy?

Again, not great things. And what will the Fed do to get inflation under control?

Higher Interest Rates

Most economists expect at least one or two interest rate increases next year.

What does all of this add up to?

No one knows. But again, probably not great things.

Our economy is incredibly resilient, but it does have its limits.

It's important to realize that I'm not one of those doomsayers. It's quite possible that America could get through this with flying colors.

Of course, the economy could just as easily go in the other direction, and we all know what that means. No one even wants to say the word "Depression".

This isn't a political statement. Before all of my friends on the far left or right start sending me hate emails, please know that the second I get one, you'll be deleted from my email list.

My column is about helping entrepreneurs attain their dreams, not politics.

The real question becomes...

How does this affect you, your family, and your business?

Again, I don't know. But this is the sort of thing that you need to start thinking about. I wanted to put all of this on your radar. Why?

Because it ain't the snake you see that kills you. It's the one hiding in the bushes.

See all of this for what it is. Make contingency plans. Think through the problem now.

See this snake coming before it bites you.

As always, if you're having problems with your accounting and tax work, contact me today.

We're all going to get through this. Let's get through it together...

Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Payroll Services, Accounting and Tax Work, Tax Planning, or Tax Representation, you have but to ask. I'm here and I remain,

Sincerely yours,

Chris Amundson
President
Accounting Solutions Ltd.
773-267-7500
888-310-0300

www.AccountingSolutionsLtd.com

Disclaimer: The content on our website or newsletter is provided solely for general informational purposes and should not be construed as tax, accounting, legal, investment, or professional advice of any kind. Accessing this information does not create, and is not intended to create, an accountant-client relationship. This information may not reflect the most current tax laws, accounting standards, or regulatory developments and may not apply to your specific jurisdiction or circumstances. It is not a substitute for consulting qualified professionals. Before making any decisions or taking any actions, you should seek advice from a professional who is fully informed of all relevant facts pertaining to your situation.

Tax-related content on this site is not intended, nor may it be used by any taxpayer, to avoid penalties that may be imposed under applicable tax laws. To comply with IRS requirements, we inform you that any U.S. federal tax advice contained herein is not intended or written to be used, and cannot be used, for the purpose of avoiding tax penalties or promoting, marketing, or recommending any transaction or matter addressed herein.

All information is provided “as is,” without any guarantee of completeness, accuracy, or timeliness, and without any warranty, express or implied, including but not limited to warranties of performance, merchantability, or fitness for a particular purpose. We disclaim all liability for any loss or damage arising from reliance on this information.

Links to third-party websites are provided for convenience only; we do not endorse or assume responsibility for their content. All materials are the property of our firm and may not be reproduced without prior written consent.

Address

3227 W Bryn Mawr Avenue
Chicago, IL
60659

Opening Hours

Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm

Website

http://www.AccountingSolutionsLtd.com/

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