November 17, 2024 Retail Sales & Strategies for Retail Business Success  📊

Discover the latest retail sales data, which shows stronger-than-expected growth in September, and inflation drops to its lowest level since early 2021. We also examine potential changes to business taxes in 2025, including the expiration of key provisions in the Tax Cuts and Jobs Act (TCJA). Plus, don’t miss our latest promotions and exclusive offers!

Retail News

Retail Sales Exceed Forecasts, Underscoring Solid 2024 Economic Growth via CFO Dive

Retail sales rose 0.4% last month, surpassing expectations and signaling a robust U.S. consumer spending. With gains across 10 out of 13 retail categories, including apparel and grocery, economists are improving their 2024 growth forecasts.

Despite inflation concerns, strong spending trends are likely to continue, supporting a positive outlook for retail.

A new report shows consumer spending, a key engine of economic growth, continues to show resilience.

An inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels.

Inflation Watch

Inflation Guage Closely Watched by the Feds Falls To Lowest Point Since Early 2021 via AP News

The Commerce Department reported prices rose just 2.1% in September, down from a 2.3% bump in August, nearing the Fed’s 2% target.

This is in line with 2018 levels before prices surged due to the pandemic. The economy also grew at a solid 2.8% annual rate in the Q3, driven by strong consumer spending.

Business Tax

Understanding Potential Tax Changes for Businesses: Preparing for 2025 via Smith & Howard

As we approach 2025, business owners face significant tax changes that could impact everything from daily operations to long-term planning.

Many provisions from the 2017 Tax Cuts and Jobs Act (TCJA), which has been a cornerstone of recent tax policy, are set to expire.

• Corporate Tax Rate

• Pass-Through Entity Deductions

• Depreciation & Expensing

• Individual Tax Provisions

American businesses are scheduled to face changes as the temporary tax cuts from the 2017 Tax Cuts and Jobs Act are set to expire after 2025.

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