Presidential Tax Service

05/31/2026

That means the purchasing power of many Americans is slipping, even as they continue to earn more on paper.

The inflation rate climbed 0.6% in April, pushing the annual rate up to 3.8%, a three-year high (1).

And consumer prices rose 3.8% year over year while inflation-adjusted hourly wage growth came in at 3.6%, according to CNN (2).

Here’s how these financial planners are battling inflation when it comes to their own personal finances

05/31/2026

The BBQ capital of the world is in serious trouble. Droughts and operating costs have decimated the beef industry, forcing many restaurants who purchase large quantities of beef to shut down.

“This is as bad as it gets,” Houston-area pitmaster Russell Roegels told the Washington Post, "You’re one bad week from closing.”

Ground beef prices have gone up 15% from a year ago, and pitmasters say wholesale brisket now costs $6 per pound before smoking, trimming and labor — meaning restaurants have to charge as much as $35 to $40 per pound just to stay in business.

05/29/2026

Need in-person help from the ? On Saturday, May 30, select Taxpayer Assistance Centers will be open from 9 a.m. to 4 p.m. Be sure to visit IRS.gov/SaturdayHours ahead of time to confirm participating locations and available services before heading to an office. For more information, go to: https://ow.ly/ioJ850Z4Pvi

05/29/2026

“It will be fought. No one’s gonna bow down to this guy, or that company. ... He’s the only one and he’s spending hundreds of millions of dollars in Washington on this thing,” Dimon said in an interview at the Reagan National Economic Forum. “He’s full of sh*t.”

05/28/2026

“Trump is draining the nation’s pile of emergency oil at an even faster pace than Joe Biden ahead of this year’s midterms.”

When he launched his presidential campaign in late 2022, then-candidate Donald Trump blasted his successor for aggressively releasing oil from America’s emergency stockpile ahead of the midterm elections.

05/26/2026

Federal inflation data confirms what you may have been feeling already: Groceries are getting more expensive. Unfortunately, things may be about to get a whole lot worse, economists are warning.
Full story: https://wgntv.com/business/groceries-just-had-the-biggest-price-hike-in-years-its-about-to-get-even-worse-experts-warn/

05/25/2026

05/24/2026

Capital gains exposure is rising as fixed exclusions lag long‑term price growth. Many owners are near or pass limits, with $250K/$500K thresholds increasingly outpaced by appreciation.

05/24/2026

IRS officials ​are considering two versions of Form 1040, the primary ​paperwork individuals use to report earnings and claim tax ⁠benefits, sources say.

05/21/2026

A bond rout is deepening as inflation fears take hold of the Treasury market, threatening to raise borrowing costs across the US economy.

The 30-year US Treasury yield just hit 5.2%, its highest level since 2007, rising on worries about persistent price hikes because of the Iran war.

A bond rout is deepening as inflation fears take hold of the Treasury market, threatening to raise borrowing costs across the US economy.