May Client Bulletin & Client Line

CLIENT BULLETIN


Client Line

MEMORIAL DAY OFFICE HOURS
Memorial Day is a day of remembering the men and women who died while serving in the United States Armed Forces. Formerly known as Decoration Day, it originated after the American Civil War to commemorate the Union and Confederate soldiers who died. By the 20th century, Memorial Day had been extended to honor all Americans who have died in all wars. It marks the unofficial start of the summer vacation season.

Our office will be closed on Monday, May 29th. Have a safe holiday!

SUMMER HOURS
Effective Friday, May 26 through Friday, September 1, our office hours will be modified for the summer.

Monday through Thursday we will be open from 8:30 AM - 4:30 PM, and on Friday’s the office will be closed.

50TH ANNIVERSARY
We are planning to celebrate the Firms’ 50th Anniversary on Thursday, October 26, 2023. Please save the date so you can help us celebrate this milestone.

Here are some interesting facts comparing 1973 to 2023:

• The 1973 inflation rate was 6.22% compared to 6.5% at the end of December 2022 and 5% as of March 31, 2023.
• Regular gasoline sold for 53 cents per gallon in ’73 versus $3.76 per gallon today. 
• In 1973, the highest federal income tax rate on Ordinary Income was 70% and today it is 37%.
• Pennsylvania had a 2.08% income tax rate in 1973 and currently, it is 3.07%.
• Greg “The Bull” Luzinski led the 1973 Phillies with 29 home runs and 97 RBI’s. Michael Jack Schmidt was second with 18 homers and 52 RBI’s.
• The 1972-73 76ers finished the season with a 9–73 record, earning the nickname from the skeptical Philadelphia media of the "Nine and 73-ers." They finished an NBA-record 59 games behind the Atlantic Division champion Boston Celtics. This year, they swept the Brooklyn Nets in four games of the first round of the playoffs and open the second round series in May. What a difference 50 years can make.