Next week is Thanksgiving, and we’re in the home stretch with only a few weeks left of 2021.
Let’s take stock of where we are.
Without getting into the politics of whether these are good ideas or not, President Biden just signed the infrastructure bill into law, and some version of his Build Back Better package of social spending could be signed soon as well, if approved by Congress. No matter what side of the aisle you sit on, new laws often bring new business opportunities, along with tax implications, and we’ll be keeping a close eye on the latest developments, which seem to change on a very frequent basis (register for our year-end tax forum for the most current information).
Across the country, things are continuing to open up. Times Square will be open to New Year’s Eve revelers this year, as long as they’ve been vaccinated or tested for COVID. Anyone inclined to spend the night standing up, with no access to bathrooms, is welcome to partake. I’ll be watching the ball drop with Tracy and the kids from the comfort of our family room.
In another sign that things are getting back to normal, New York City is heading toward making outdoor dining a permanent fixture on our streetscape, with the City Council soon to vote on a plan to let more restaurants open outdoor patios. Not everyone is happy about it (you can’t please all the people…) and there’s been pushback in restaurant-heavy neighborhoods like Greenwich Village, where space is at a premium and there are always trade-offs between commerce and quality of life. But that’s New York for you!
The transition out of full pandemic mode at Marcum has been very different in each of our local offices, and we’ve had to customize our approach heavily. Just this week, Washington DC dropped its indoor mask mandate, while at virtually the same time, Maryland (or at least Rockville, where our office is located) reinstated theirs. Go figure! Many of our clients with multiple offices are experiencing the same thing.
This trend is likely to continue for a while, and it points to the need for highly localized and nimble strategic planning, whether that means building more flexibility into your job bids or pre-ordering more of your inventory. It’s not an easy time to run a company, but as always, your Marcum advisors are here to help.
Dr. Fauci has given a thumbs up to family gatherings (thank You-Know-Who!). I don’t think any of us could have stood another year of turkey by Zoom.
With the holiday weekend coming up, Marcum will be closed for business on Wednesday, November 24, even though we have to forgo our customary day of service. Usually, the day before Thanksgiving is the annual Marcum Day of Service, where our entire team volunteers in our local communities. That’s not going to be possible again this year, but hopefully we’ll be able to resume this important tradition next year. We’re closing on the 24th anyway (as well as the 25th and 26th, of course) and encouraging our people to use the day to do their own personal giving back in one form or another.
As is our custom, the Weiners will be celebrating Thanksgiving with family and friends in South Florida. And since Marcum is closed next Friday, I get the week off from figuring out what to write about.
Wishing you all a happy, healthy, safe and delicious Thanksgiving!