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On this episode of the Planned Solutions Financial Review Podcast we discuss, The fourth quarter 2018 earnings season is expected to reflect strong year-over-year earnings growth as the corporate tax cuts spark an increase in corporate earnings. However, the expectations for the rate of earnings growth have been declining through most of 2018 and into 2019 as analysts digest weaker than expected earnings reports and negative earnings guidance from many companies. This has increased the uncertainty about the rate of earnings growth in 2019. And, Due to the increase in the Standard Deduction many taxpayers will no longer itemize their deductions in 2018 for federal tax purposes. However, many states did not conform to the federal changes so their Standard Deduction amounts remain much lower. Therefore, many taxpayers may still benefit from gathering their Itemized Deductions in order to claim the deduction on their state income tax returns.. What do you need to know? Also,The tax cuts and changes to the tax withholding tables that took effect in 2018 has some worried that many taxpayers will owe more than expected when they file their income taxes this year. To ease the tension the IRS announced that it will lower the threshold for tax underpayment penalties for 2018. Now, as long as a taxpayer has paid in at least 85% of their total tax liability the underpayment penalty should be waived. Historically, the threshold was 90% of the total tax for the year. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- A few things to be aware of as tax time nears it is important to remember that tax forms may be mailed on different schedules depending on the type of account and the information the tax forms report. In addition, if an account was transferred during the year there will likely be multiple tax documents for the account as each custodian will issue their own form to report the income for the period in which they held the account. To subscribe to the written form of all the content we discuss email Katie@plannedsolutions.com