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On this episode of the Planned Solutions Financial Review Podcast we discuss, The fourth quarter US economic data and shed some light on the areas of strength and weakness in the US economy. US households continued to spend in the fourth quarter but at a slower pace than the second and third quarter. Business investment was strong but the trade deficit detracted from growth once again and government spending has slowed as the fiscal stimulus passed in late 2017 and early 2018 has run its course.. What impact can this have on the economy? And, The US goods trade deficit increased by 12% in 2018 despite the tariffs placed on a variety of foreign produced goods. In general, the tariffs and other trade barriers that were imposed by the US caused the global economic growth rate to slow leading to reduced demand for US goods. Meanwhile, US economic growth has proved more resilient with US consumers continuing to purchase foreign made goods. What do you need to know? Also,There is a misconception that home mortgage interest is no longer deductible or is capped. In fact home mortgage interest is still deductible with no cap on the amount of interest paid. However, the limit on the home equity indebtedness that qualifies for a mortgage interest deduction was reduced for mortgages originated after 12/15/17. In addition, interest paid on home equity debt in which the money borrowed was not used to buy, build, or improve the home is no longer tax deductible. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- We are often asked how long an individual should keep their income tax records. We tell you what you need to know. To subscribe to the written form of all the content we discuss email Katie@plannedsolutions.com