Stamp Prices Increase January 7, 2001

Posted by accountingweb on Dec 6 2000 99 printer friendly

It's going to cost more to mail a letter as of January 7. How does this translate into bottom-line revenue for the Postal Service?

It's official: according to the U.S. Postal Service, the cost of a first-class, U.S. postage stamp will increase to 34 cents each as of January 7. Incremental amounts will continue to be charged after the initial ounce.

What few fail to realize is the impact one penny can have on revenues for the postal service. With an overall increase of 4.6 percent in postage, the postal service expects an increase in revenue of $2.7 billion, including $1 billion from the increase in first class postage.

Faced with a $199 million loss in the fiscal year ending Sept. 30, the Postal Service had no other choice than to increase postage. Many also do not realize that the Postal Service is not a government-run organization, and does not rely on outside funding.

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.

This Week on AccountingWEB

CPAs Mira Finé, Scott Hitchcock, Rob Keasal, Kathy Scorcio, and Ken Travis offer ten pieces of financial advice for the newest Powerball winner.

Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.

Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.