US Market Test Key Level Series I Savings Bonds IRS Form 1099 - K

In this episode of the Planned Solutions Incorporated Podcast, The stock market is currently testing a key level that could impact the performance of the market over the first six months of 2022. After declining in January, and then falling further in March, the stock market is now testing its lows from March. Should the market rebound in May it may create a double bottom which could be a positive sign going forward. However, if the market declines further, dipping below the March / April lows, it could mean that another leg down will come before the market finds a bottom. Also, Series I US Government Savings Bonds are currently offering attractive interest rates. The rates on these bonds are based on the rate of inflation which is currently quite high compared to other interest rates. However, investors should understand the rules surrounding these bonds including the limits on the amount that can be purchased, required holding periods, and the income tax implications. And, In an effort to uncover untaxed income the IRS is now requiring more and more companies to issue Form 1099-K to report transactions. This means that more credit card and third-party networks will be reporting income to taxpayers. In some cases, this may be taxable income that should have been reported anyway but in others, it may be payments for personal expenses, such as a friend reimbursing an individual for tickets to a concert or sporting event. Therefore, taxpayers may need to be more cautious when using these payment platforms. Plus a look at the Planned Solutions Incorporated Office Bulletin Board- Save 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 had last year and set a new record in regard to 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 addition, 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. Please mark your calendars if you will be able to attend. Date: Friday, September 9th, 2022 Location: Rancho Murieta Country Club – South Course 7000 Alameda Drive ancho Murieta, CA 95683 Time: 12:30 pm shotgun start with a dinner to follow All profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner. Chase Armer's book- Financial Planning Insights is now available at: www.amazon.com/Financial-Planning…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 [email protected] 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: [email protected] (916) 361-0191 WEB SITE: www.PlannedSolutions.com