Economic Outlook


Amid widespread uncertainty regarding government actions, the real estate market and credit, CPA financial executives expect slow employment and economic growth, according to a survey co-sponsored by the AICPA. However, the outlook for the beleaguered manufacturing sector brightened considerably from the fourth quarter of 2009.

 

Results from the Economic Outlook Survey, 1Q 2010, conducted by the AICPA and the University of North Carolina’s Kenan-Flagler Business School, found that 25% of respondents were optimistic or very optimistic about the outlook for the U.S. economy for the next 12 months. Thirty-eight percent were very pessimistic or pessimistic, and the remainder were neutral. These percentages were virtually unchanged from the previous two quarters.

 

Full survey results are available at fmcenter.aicpa.org. The survey, conducted between Jan. 27 and Feb. 15, includes responses from 998 CPAs in business and industry.

 

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How tax reform will impact individual taxpayers

Amy Wang, a CPA who is a senior technical manager for tax advocacy at the AICPA, answers to some of the most common questions on how the new tax reform law will impact individual taxpayers.