July furniture order numbers have to be tempered comparatively with the results from the same time period in 2020, as July 2020 was the beginning of a big recovery in the furniture industry. For the first time since June 2020, new orders in July 2021 were down 11% compared to the same month of 2020. But growth still continues overall, as July 2021 orders were up 24% compared to July 2019 in our latest Furniture Insights®.
Much anticipated details have emerged from the House Ways and Means Committee’s draft legislation. We detail many of these tax provisions in question below, and encourage clients to begin planning now for these significant potential changes, particularly from an estate planning perspective.