Los Angeles Wildfire Tax Relief, AI Market Panic, Qualified Charitable Distribution

Welcome to the⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ @plannedsolutions  ⁠⁠⁠⁠⁠⁠Incorporated Podcast. In this episode, we discuss how The IRS has announced several provisions to provide tax relief to those impacted by the Los Angeles wildfire disaster that started on January 7th. The IRS will allow victims an automatic extension of time to file their income tax returns, make certain tax-deductible contributions, and make tax payments that would normally be due in 2025. In addition, some penalty relief is available for those who access retirement funds early.The release of a China-based AI model calledEver since the Secure Act created the option for IRA owners to make Qualified Charitable Distributions (QCDs), this option has become more and more popular. Originally, the law allowed an IRA owner to contribute up to $100,000 to charity using QCDs. However, this amount was indexed for inflation, so it increases over time. For 2025, the increased limit for QCDs is $108,000 per taxpayer, per year.Plus a look at the Planned Solutions Incorporated Office Bulletin Board -Carter Osborn recently joined the Planned Solutions team. Some may have met Carter when he To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail ⁠⁠⁠⁠⁠⁠⁠⁠⁠[email protected]⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action Chase Armer's book- Financial Planning Insights is now available at: ⁠https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠Intro 00:00Los Angeles Wildfire Tax Relief 01:18AI Market Panic 09:40Qualified Charitable Distribution (QCD) LimitsIncrease 17:35Bulletin Board 20:13Planned Solutions, Inc.