The Economics of Snow Storms

The snow is falling in the Northeast and other parts of the country are seeing snow for the first time in a long time and in some cases ever!  Snowstorms can often have a very significant impact on the economy and business, and in fact the storms of a few winters ago caused the Gross Domestic Product (GDP) of the USA to fall by 2.1% in the first quarter of the year!  There was so much lag time in service that inventory got backed up and the supply chain was interrupted.

Snow storms are particularly bad for hourly employees such as restaurant workers who wont be called into work the day of the storm and possibly for days after.  On the other hand, snow plow drivers and folks who shovel will benefit tremendously from the weather.  In the storms from a few winters’ ago a roofing company we are familiar with had many hourly laborers shoveling off roofs for weeks!  Of course all the skiers love the snow and the economy around the mountains flourish in the snow!

Listen below as Win Damon and Stu talk about this topic on WJOP Joppa radio FM 96.3 in Newburyport.

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About Stu: With more than 29 years of experience as a credentialed tax professional, Stu Steinberg brings a broad depth of knowledge to his work. Stu founded Erock Tax to help provide tax strategies to individuals, families and small businesses. He uses his CPA expertise to help each client navigate their long-term debt and mortgage, gaining them the best deals and rates possible. Stu is passionate about empowering his clients through education about their tax health. He is highly energetic and brings a sense of optimism, creative problem-solving and a deep level of commitment to every Erock client.

 

For more information please visit our website at www.erocktax.com

 

Quick Income Tax Tip to Start the 2017 filing Season

Welcome to the 2017 Income Tax Filing Season.  Electronic submissions start January 29, But many of you won’t file until March or April or beyond.  Quick tip:  Contact your tax advisor right away to see how tax reform affects your for the 2018 year and beyond.  Do not wait until you file your 2017 return to get valuable information you need now.

Below are some important dates on the calendar for 2018 filing.  Please reach out with any questions you may have.

 

For calendar year tax returns reporting 2017 information that are due in 2018, the following due dates will apply.

 

Form  2018 Filing Due Date (Tax Year 2017)
Form W-2 (electronic or mail)Form 1065 – Partnerships

Form 1120S – S Corporations

Form 1040 – Individuals

FinCEN 114 – FBAR (will be allowed to extend)

January 31stMarch 15th

March 15th

April 17th

April 17th

Form 1041 – Trusts and EstatesForm 1120 – C Corporations

Form 990 Series – Tax Exempt Org

Form 5500 Series – Employee Benefit Plan

 

April 17thApril 17th

May 15th

July 31st

 

FormForm 1065 Extended Return

Form 1120S Extended Return

Extended Due DatesSeptember 17th

September 17th

Form 1041 Extended ReturnForm 1120 Extended Return

Form 1040 Extended Return

FinCEN 114 (Extended with Form 1040)

Form 990 Series Extended Return

October 1stOctober 15th

October 15th

October 15th

November 15th

Form 5500 Series Extended Return November 15th

 

 

Like what you have read? Please share with friends.

About Stu: With more than 29 years of experience as a credentialed tax professional, Stu Steinberg brings a broad depth of knowledge to his work. Stu founded Erock Tax to help provide tax strategies to individuals, families and small businesses. He uses his CPA expertise to help each client navigate their long-term debt and mortgage, gaining them the best deals and rates possible. Stu is passionate about empowering his clients through education about their tax health. He is highly energetic and brings a sense of optimism, creative problem-solving and a deep level of commitment to every Erock client.

 

For more information please visit our website at www.erocktax.com

 

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