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In this episode of the Planned Solutions Incorporated Podcast, There have been several news articles about stock price anomalies over the past year. These stock price spikes have been caused by several short-term trading strategies that have become popular among younger investors and those with limited funds to invest. While the news articles often focus on the large short-term profits that some investors may realize, they often do not cover the big losses that many traders recognize after prices return to their values based on company fundamentals. Also, The IRS views forgiveness of debt as taxable income to the borrower under most circumstances. This means that the amount of any student loan forgiveness that may occur in the future could generate an unexpected tax bill. Therefore, student loan borrowers may benefit from setting money aside for taxes now. And, The IRS has announced that the official start of tax season will be delayed until February 12th this year as the IRS needs time to update their computer system due to the tax changes recently made by Congress. It is also important to remember that unlike last year, the tax filing deadline has not been extended for 2021 so a timely filed tax return must be submitted by April 15th, 2021. Plus a look at the Planned Solutions Incorporated Office Bulletin Board-Before preparing your 2020 income tax return it is important to make sure that you have all of the tax forms and other tax information that you need. In some cases, this may mean being patient until all of your investment forms have been issued. In other cases, it may mean being careful to thoroughly go through your mail looking for tax forms. For example, mortgage companies often send out Form 1098 which reports the interest paid during the year with the monthly mortgage statement. So, it is important to sort through all of the pages in the mailing to see if your tax forms were included with the most recent statement. This year it is especially important to account for the Economic Impact Payments (EIP) that were sent out to most taxpayers as a part of the CARES Act. This form was sent when the EIP was made and reports the amount that taxpayer(s) received. It will be important for your tax preparer to have access to this form or at least have a record of the amount if any, that you received in EIP payments during 2020. Chase Armer's book- Financial Planning Insights is now available at: store.bookbaby.com/book/financial-…anning-insights www.amazon.com/Financial-Plannin…1586894022&sr=8-1 To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com The Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc. ADDRESS: PHONE: 1130 Iron Point Road, Suite 170 (916) 361-0100 Folsom, CA 95630 (800) 750-2111 E-MAIL: FAX: Shannon@PlannedSolutions.com (916) 361-0191 WEB SITE: www.PlannedSolutions.com #finance #invest #investment #stocks #inflation #deflation #bonds