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- Nevada has 139 tax returns per accountant
Nevada has 139 tax returns per accountant
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I share the 4-5 most important accounting that actually matter. I scroll so you don’t have to.
So grab your coffee, take a quick break, and lets catch up.
In this issue:
Nevada has 139 tax returns per accountant. Texas needs 25,000 more.
Missouri wants to kill income tax and replace it with something
LIV Golf spent $5 billion and got almost nothing
- Ledger Lowdown Team
WTF of the Day🤯
Nevada Has 139 Tax Returns Per Accountant. Texas Needs 25,000 More.
America is running out of accountants and some states are in serious trouble. A new study ranked every state by accountant shortage and the numbers are kind of alarming.
Nevada is the worst. The state has just 1.75 accountants per 1,000 residents and each one is handling 139 tax returns. That is nearly nine times the ratio in Washington D.C. where there are 13.84 accountants per 1,000 residents and only 16 returns per accountant. Mississippi, Arkansas, Kentucky, and South Carolina round out the bottom five. None of them have more than 2.75 accountants per 1,000 residents.
The most shocking part is that the states already struggling are getting worse. Nevada lost nearly three in ten of its accountants over the last five years. Texas shed nearly 5,000 accountants despite a growing population and now needs about 25,000 more just to meet current demand. That is the biggest absolute shortfall in the country.
For accountants, this is actually interesting. The shortage means leverage. If you are in Nevada or Texas or Mississippi, the supply demand picture is very different from New York or D.C. where there is a surplus. Where you work matters almost as much as what you do.
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What’s poppin in accounting🍿
Missouri Wants to Kill Income Tax. Replace It With... Something
Missouri is putting a question on the November ballot asking voters to let them replace the state income tax with higher sales taxes. Sounds good. Here is the problem. The ballot question does not say which sales taxes will actually go up. It just asks permission to do it someday. Meanwhile the income tax would be gone for sure.
So if voters say yes and future lawmakers do not follow through, Missouri loses a huge chunk of its budget with nothing to replace it. Democrats are calling it a bait and switch. Republicans are saying trust us. The people voting on this will not even be in office when it matters.
One poll shows 52% of Missouri voters like the idea in theory. But when asked about actual specific taxes, support falls.
Weekly Trend Chart 📊
LIV Golf Has Struggled To Generate The Same Buzz On Socials As The PGA Tour
Saudi Arabia's Public Investment Fund has reportedly been trying to pull the plug on LIV Golf after dumping more than $5 billion into it since 2021. The CEO sent an internal memo trying to calm employees saying the season continues uninterrupted. Then he ended the email with it matters. You mattered. Now let's go win. Past tense. So that went well.
They streamed tournaments for free on YouTube and somehow only got 437,000 subscribers. For $5 billion that is basically nothing. They came in swinging wildly with money and trying to buy a sport and it turns out you cannot just do that. The buzz around their potential collapse is the most attention they have gotten in years.
Meme of the Day😂
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