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b"In this episode of the Planned Solutions Incorporated Podcast, The US stock market has rebounded from its mid-June lows rallying 13% and cutting the losses for the year in half. However, the market is now nearing a key resistance line defined by the mid-March lows and the late-May/early-June highs. Should the market fail to push through this resistance level the lows from mid-June could be revisited. On the other hand, should the market push through this level the next point of resistance is 10% higher than the current price.\\n\\nAlso, The US economy has likely contracted for two consecutive quarters based on the first estimate for the second quarter of 2022 economic output. However, household spending has remained positive for the first two quarters showing that the consumer remains strong. Meanwhile, government spending has declined as the stimulus spending from early 2021 is compared to current spending levels. \\n\\nAnd, Investors typically want to avoid taking distributions from their investment accounts when the markets are down. However, those who own an inherited IRA and are subject to the 10-year distribution rules may benefit from accelerating distributions when investment values are down and then reinvest the money in an after-tax investment account where a recovery in value may be subject to lower tax rates. This will also help free the account owner from the 10-year rule that is related to inherited IRAs.\\n\\nPlus a look at the Planned Solutions Incorporated Office Bulletin Board- The Inflation Reduction Act of 2022 recently passed the Senate and is expected to soon pass the House of Representatives and be signed by the President. While this bill is scaled way back from the original Build Back Better bill it still contains numerous provisions that will take time for us to dig into. The bill includes new taxes, mostly on businesses, that are expected to generate $739 billion in increased tax revenue as well as spending of $433 billion, some of which includes individual tax credits such as those for purchasing electric vehicles.\\n\\nThe bill also includes increased funding for the IRS in an attempt to increase tax collections. Unfortunately, it looks like most of this money will go to tax enforcement (increased audits) rather than IRS customer service which has made it nearly impossible for taxpayers to resolve tax issues. Therefore, taxpayers may face an increase in audits and tax notices with no additional resources to help them get these issues resolved.\\n\\nSave the date for the Harlan D. Wood Memorial Cancer Charity Golf Tournament which is scheduled for Friday, September 9th, 2022. We hope to build on the strong participation that we\\nhad last year and set a new record regarding funds raised for cancer charities again this year. The course should be in good shape and the silent auction items will be great again this year. In\\naddition, we are going to switch things up a bit and play the South Course this year, which plays a little easier but is every bit as good as the North Course for great views and tricky angles to the greens.\\n\\nPlease mark your calendars if you will be able to attend.\\nDate: Friday, September 9th, 2022\\nLocation: Rancho Murieta Country Club \\u2013 South Course\\n7000 Alameda Drive\\n ancho Murieta, CA 95683\\nTime: 12:30 pm shotgun start with a dinner to follow\\nAll profits go to cancer research and education. You can help by attending the tournament or\\ndonating. Not golfing? Bring friends and attend the dinner.\\n\\nChase Armer's book- Financial Planning Insights is now available at:\\nwww.amazon.com/Financial-Planning\\u20261586894022&sr=8-1\\n\\nTo subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com\\n\\nThe 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.\\n\\nPlanned Solutions, Inc."