What is TCJA?

That stands for Tax Cuts Jobs Act

What about Small Businesses?

Congress came up with a 20% deduction

Bonus Depreciation:

-50% first-year bonus depeciation deduction

-Only new assets qualify used assets do not

Qualified Leasehold Improvements:

-All 3 categories now fall under only one qualified Improvement Property

Property

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92% of US Small Businesses Have “Reinvented” Themselves During Pandemic

According to a survey, 92% pivoted their business in at least one way, but many have pivoted in multiple ways. This means only a small minority, or 8% didn’t pivot their business at all to adapt to the current environment.

When these businesses are pivoting, they are changing their business model on the fly. And when they do, they are hitting paydirt. One of the respondents in the survey highlights the need to quickly change a company’s business model.

Bullion is hot in the streets

Gold has been considered a safe harbor for investors for its ability to hold long-term value and hedge against inflation. 

As geopolitical tensions turn up to volume 11 and central banks pump money into global financial systems, “You couldn’t create a better playbook for gold to perform,” Steven Dunn, head of a $2.2 billion gold ETF, told the WSJ.

Investors poured $3.8 billion into precious metals funds the week to July 22—the second-largest weekly amount ever, according to data analyzed by Bank of America.  

COVID-19 update

The U.S. crossed 4 million coronavirus cases yesterday. 

That means at least one in 82 people in the U.S. have been infected, Reuters calculated.

Global supply chains have come under pressure from the pandemic...

...prompting many businesses to rethink how they bring their goods to market.

Businesses are always looking for new ways to optimize and improve their supply chains but figuring out the right approach requires an understanding of the macrotrends that shape trade and manufacturing. 

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Economic Recovery: Handle With Care

New data shows the economy is getting better...but recovery is fragile and largely dependent on historic government intervention. 

Retail sales for June gained 7.5%, a sign that Americans started spending again as states eased lockdowns and people received a heavy dose of extra income from the government. If you exclude purchases at gas stations—which fluctuate widely based on oil prices—retail sales just climbed back to a record high. 

Rising COVID-19 caseloads could put the momentum in retail sales at risk in July.