The economy continues to be the topic on the minds of everyone, as market volatility continues to try the patience and fortitude of investors across the spectrum. During these times, more than ever, it’s important to remember to take the long-term view.

Death and taxes, as we all know, are the inevitabilities in life. We spend a lot of time and energy avoiding the former and almost as much mental capital trying to prevent the latter. But should we? As unpleasant as they are, taxes are born out of a successful endeavor where we earned or won money in some form. That being said, you should still be “tax-aware” with your finances to minimize the drag that taxes have on your bottom line. After all, we don’t want to line Uncle Sam’s pockets unnecessarily.

In the first two months of 2022, Saratoga County and Saratoga Springs collected a combined $25 million in sales tax revenues, up 22 percent versus the same time in 2021. While its likely that rising prices due to inflation is a key driver, the reality is that since our economy was reopened in June of 2021 that we’ve seen a willingness of residents, businesses, and visitors to spend money in our local economy. 

With so much uncertainty in the current geopolitical and economic landscapes, it’s very difficult to write a timely piece without running the somewhat embarrassing risk of there being any major changes between these keystrokes, and the time you read this. That said, perhaps its uncertainty, itself, that we should be discussing.