⬇️ The Tuesday Lowdown ⬇️

Out of 1,000 daily articles, only 5 deserve your attention. 

This week, I tracked them down like an unpaid intern with something to prove. 

Let’s dive in!

💎 WTF of the Day

Congress Controls Your Taxes 🏛️

Let’s get real the 2024 election could completely screw with your taxes. Congress is sitting on a bunch of tax breaks that expire in 2025, and if they don’t renew them, your tax bill could shoot up. We’re talking about higher rates, fewer deductions, and the potential loss of some big breaks for businesses and individuals.

The bad? Say hello to higher taxes, especially if you’re a high earner or a business owner. The top tax rate could jump back to 39.6%, and that estate tax you’ve been avoiding?

It might double.

(Source: Accounting Today)

💎 What’s Poppin in Accounting

Bloomberg’s AI Is Coming for Your Spreadsheets

Bloomberg just dropped an AI assistant for accounting firms, and it's set to change the game. Imagine getting the grunt work done without lifting a finger, data entry, reconciliation, all the boring stuff? Gone. Bloomberg’s AI tool is designed to help firms automate those tasks so accountants can spend more time on the stuff that matters like strategy, advising clients, and well, not staring at spreadsheets all day.

#3 💎 Did you know?

Before 1896, Anyone Could Be an Accountant (Yikes) 😬

Before 1896, anyone could call themselves an accountant. no exams, no rules. Then New York passed the first CPA law and gave out the first license to a guy named Frank Broaker, who helped write the law himself.

Standards matter. CPAs earned their credibility, and it’s why our work means something today.

(Source: Various historical records on the 1896 CPA law)

#4 💎 Daily Trend Chart

More Jobs, Less Money. What Gives?

More Americans are working than ever before. Sounds great, right? But here’s the catch, wages aren’t keeping up with inflation, and many are working multiple jobs just to make ends meet. More jobs on paper doesn’t mean everyone’s living large.

Having a job is one thing, getting paid enough to live is another. As we celebrate more jobs, the real challenge is making sure those jobs actually pay the bills.

#5 😂

😂🤣🤣

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