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November 24, 2021/Furniture Insights

November 2021 Furniture Insights®

September continued the streak of very nice results in our latest Furniture Insights®. Year to date, new orders were up 21% over 2020 and up 32% over the first nine months of 2019.

November 23, 2021/Tax

Tax Implications from 2021 North Carolina Budget Bill

On November 18, after months of political negotiation (and four and half months into the new fiscal year), Governor Cooper signed the state’s 2021 budget bill into law. Smith Leonard provides a brief summary of the more impactful tax provisions, including state treatment of Paycheck Protection Program loan forgiveness, as well as future state tax rates.

November 17, 2021/Mergers and Acquisitions

Pandemic’s Perfect Storm: Why M&A Activity is Surging and What to Expect

The below article was originally published on 11/5/21 in the Triad Business Journal with contributions by Smith Leonard partner Darlene Leonard and Lee Lloyd, founder of J. Lee Lloyd LLC, an M&A and corporate finance consulting firm based in Greensboro.  If you were trying to buy, sell or invest in a company in March 2020, you could […]

October 29, 2021/Tax

Build Back Better Revisions Released

On October 28, 2021, the House of Representatives released a revised text of their Build Back Better Bill to reflect the updated reconciliation framework President Biden conveyed to the nation in a televised press conference.

October 27, 2021/Furniture Insights

October 2021 Furniture Insights®

Once again, as has been the case since the beginning of the pandemic, the raw numbers have to be explained. The results of our survey of residential furniture manufacturers and distributors showed some interesting comparisons. For instance, new orders in August were down 14% from August 2020.

September 30, 2021/Furniture Insights

September 2021 Furniture Insights®

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®.

September 24, 2021/Tax

Proposed Tax Law Changes

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.

August 31, 2021/Furniture Insights

August 2021 Furniture Insights®

Positive news in our latest Furniture Insights®, with new orders were up 7% in June 2021 over the 30% increase reported in the comparisons of June 2020 vs June 2019. Year to date, new orders were up 51% over the first half of 2020 and up for 94% of the participants.

July 30, 2021/Furniture Insights

July 2021 Furniture Insights®

Orders continue to increase as the furniture industry continues to fight challenges of labor, backlogs, availability of materials, and pricing in our latest Furniture Insights®.

June 29, 2021/Furniture Insights

June 2021 Furniture Insights

Our latest Furniture Insights continues to show growth in the furniture industry, with positive reports from the June market. But the good news is dampened by concerns about pricing, backlogs, and availability of key materials.

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