Fed Policy In 2023 Written by Google Bard & Social Security Wage Base

Published: June 8, 2023, 9 a.m.

b"In this episode of the Planned Solutions Incorporated Podcast, We decided to outsource our lead article to Google Bard this week. Google Bard is Google\\u2019s Artificial Intelligence Chatbot. We found that the article generated was mostly accurate, although not completely (see notation in the article), which raises concerns about misinformation or false information when relying on artificial intelligence. This highlights the need to audit any information received from these models to ensure their accuracy\\n\\nAlso, Taxpayers often focus on income taxes, but there are other types of tax that can be just as important when it comes to tax planning and tax savings. Employment taxes (Social Security and Medicare taxes) can exceed 15% of income when both the employee and employer contributions are considered. Therefore, employment tax planning should not be overlooked when engaging in tax planning.\\n\\nAnd, The tax code offers several small tax credits for certain energy-efficient home improvements. However, these credits can be complicated in terms of which projects qualify for the tax credits. In addition, there are annual and lifetime limits which differ based on the type of credit. Therefore, it is important to consult with a knowledgeable tax professional to determine the amount of the tax credit and how to meet the requirements for documentation to be able to claim the credit. \\n\\nPlus a look at the Planned Solutions Incorporated Office Bulletin Board-Following the COVID travel restrictions and the economies around the globe reopening, the summer of 2023 is expected to be a record travel season. This also appears to be the case at Planned Solutions. Several members of the Planned Solutions team have planned, or have recently returned from, vacations that are a bit longer than average. Naturally, we have taken steps to make sure that we have sufficient coverage so that the high-quality service levels that we pride ourselves on do not suffer, especially tasks that are time-sensitive or emergency issues. Even when on vacation our team members take steps to be accessible by phone or e-mail in case\\nan emergency arises, or they are needed to offer some insight on an issue. However, time differences and the availability of internet access while traveling can cause some delays in the ability to respond as quickly as normal. Therefore, there may be some cases where some non-time-sensitive issues may be delayed a little bit longer than would be normal. We ask for your patience and understanding.\\n\\nChase Armer's book- Financial Planning Insights is now available at:\\nhttps://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb\\n\\nTo subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com\\n\\nThe Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.\\n\\nPlanned Solutions, Inc."