Putting Corporate Tax Reform in Perspective

Since assuming office in January, the Trump Administration has taken steps to enact policies with a wide range of impacts in the areas of healthcare, environment, immigration, and the economy. Economic policies have not been at the front and center of the media or public discourse lately, but understanding what may come is still extremely important. Potential changes in economic policies may include personal income tax cuts, corporate tax reform, and federal budget shifts, each of which can be quite complex. In this blog, we take a closer look at the different proposals for corporate tax reform.

What Does Your Degree Do For You?

If your accounting degree landed you a job as a financial analyst in the Richmond metro area, Virginia, do you know what that gets you? Well, for starters, your entry-level wages are somewhere around $55,000 per year. The average worker earns $83,000 per year and experienced workers earn $111,000 per year. About 45% of all accountants in the Richmond metro area have a bachelor’s degree while 38% have their masters.

Economic Impact: Increased military spending could benefit Virginia's economy

Virginia stands to receive more benefit than any other state in the country under the president’s plan to increase military spending. In President Trump’s address to Congress last week, his plan “calls for one of the largest increases in national defense spending in American history.” Defense spending contributes to the Virginia economy in multi-facet ways.

According to a 2015 Federal Reserve Bank of New York Staff Report, almost one-half (46%) of recent college graduates were underemployed in 2014. The so-called underemployed workers are employed in an occupation below their level of qualification. For example, a graduate with a Bachelor’s Degree in economics who is waiting tables or working at a retail store is considered underemployed.