Planned Solutions I Filler My Tax Return Where Does The Infomation Go
On this episode of the Planned Solutions Financial Review Podcast we discuss, This time of year millions of Americans prepare their income taxes, sign the e-file forms, and then transmit their financial information to the IRS. Where does the information go? What does the IRS do with it? How does this impact the chances of an audit or notice being generated by the IRS? These are all questions that few people think about but they represent the real inner workings of our tax system. And, The global economy is more interlinked than ever. Following decades of globalization supply chains now stretch across the globe so that the trade deficits and surpluses around the world link trading partners with each other. The mechanism by which trade activity influences economic growth takes time to become apparent in the economic data but the impact can be quite large due to the second-order spillover effects that may occur. What do you need to know? Also,The Tax Cuts and Jobs Act of 2017 expanded the definition of “qualified higher education expenses.” In the past this definition required enrollment in a qualified post-secondary educational program that qualifies for federal financial aid. The new law expands the definition to include $10,000 in annual expenses for tuition in connection with enrollment in elementary or secondary school.. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- January and early February seems to be time of year when many organizations host their economic update events. Chase participated in two presentations and recently attended a third. While three economic updates in less than 30 days may seem like overkill it was useful to compare and contrast the economic outlook from different organizations which emphasized different sources of economic data. However, all of the presentations seem to have similar themes: The rate of economic growth is slowing but it may not slow enough to result in a recession in the near term. Shannon, Candice, and Michele attended a conference in San Francisco hosted by Black Diamond, the software that we use to generate account reports, manage client data, and exchange information with clients through the secure portal. The conference was focused on the more advanced features that Black Diamond’s software offers which may allow us to work more efficiently by gaining faster and easier access to data. To subscribe to the written form of all the content we discuss email Katie@plannedsolutions.com