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In this episode of the Planned Solutions Incorporated Podcast, The stock market, as measured by large company US stocks, has made a full recovery. However, other areas of the stock market, such as small and mid-sized company stocks as well as foreign stocks have yet to make it back into positive territory for the year much less recover to the highs from February. This is likely at least partly due to the difference in the makeup of these stock indexes as well as their access to capital. Also, US retail sales made a full recovery to pre-pandemic levels in July. This occurred despite a new peak in Coronavirus cases which occurred in late July. The increase in spending partially reflects a change in consumer spending patterns and is partially due to the expanded unemployment benefits which were paid through the end of July. And, many people are asking if they can claim the home office tax deduction now that they are required to work from home due to the Coronavirus. The short answer is that the changes made in the 2017 Tax Act eliminated the ability for most people to claim deductions related to employee business expenses. Therefore, employees will not be able to deduct their home office expenses on their federal taxes. However, business owners and independent contracts may benefit from this deduction. It also may provide a state tax benefit in some states. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Chase has once again contributed to the Sacramento Business Review (SBR). The SBR is a collaboration between the Sacramento State University Business School and the Sacramento Society of Chartered Financial Analysts. The August 2020 version of the Sacramento Business Review can be accessed on the SBR website at https://www.sacbusinessreview.com/ Chase Armer's book- Financial Planning Insights is now available at: https://store.bookbaby.com/book/financial-planning-insights https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279/ref=sr_1_1?dchild=1&keywords=chase+armer&qid=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