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Jacobs & Company, LLP

2161 Palm Beach Lakes Boulevard, Suite #450

West Palm Beach, FL 33409


Phone: 561-615-8585

Fax:     561-615-8888


Website: www.jacobsandcompanyCPA.com

August 2021

August 2021 Short Bits

Short Bits

According to a recent survey by Junior Achievement and Citizens, one-quarter of 2020’s high school graduates delayed their college plans because parents or guardians were less able to provide financial support due to the financial strains of the COVID-19 pandemic. As education costs continue to rise, students’ perspectives about their future are changing. Another survey of high school students found that only 53% think attending a four-year school is a possibility. This is down from 71% in 2019.

Many Americans are bothered by the US federal tax system. According to a Pew Research Center Study, 59% of Americans were concerned that some corporations and some wealthy people don’t pay their fair share. The complexity of the federal tax system is an issue for 47% of Americans while 49% believe that they pay more than their fair share of taxes considering what they get from the federal government in return.

The Veterans Administration is hosting free monthly financial education classes it calls Wellness Wednesday Financial Education, to help transition service members and their families. The classes are held online on the third Wednesday of every month. Previous classes have focused on budgeting, the importance of building an emergency fund and personal financial health.

According to the National Retail Federation, households spent an average of $800 on back-to-school supplies in 2020 while back-to-college households spent $1,059. Most of this was spent on electronics or computer-related equipment, with clothing seeing the second-highest spending amounts.


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