Custodial Accounts And Tax Planning, Stock Earnings Increase, Interest Rates And Tax Withholding Planned Solutions

In this episode of the Planned Solutions Incorporated Podcast, In a real-life case study, we explore just one way that a financial advisor can use strategic timing along with the integration of investment and tax planning to increase the long-term financial benefits from a savings and investing strategy. Here we explore the intersection of long-term investing (the compounding of returns), counterintuitive tax strategies (tax-gain harvesting), and estate planning an efficient transfer of wealth to the next generation.

Also, Earnings for the S&P 500 companies increased by 21.7% year-over-year in the fourth quarter. Most companies beat their earnings expectations and analysts predict that earnings will continue to climb in 2024. However, the pace of earnings growth has slowed recently with earnings still more than 10% below the high from the fourth quarter 2021.

And, Higher interest income has led to an increase in income tax for taxpayers who have a significant balance in savings or money
market accounts. This occurs because interest income typically
does not have income taxes withheld unless the taxpayer is subject to backup withholding. For some this may necessitate
more detailed tax planning to create a plan to pay the tax due on
interest income in order to avoid a large tax bill at tax time and the
potential for an underpayment penalty.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board - There is a new method that scammers are using to steal personal information online: SearchEngine Optimization (SEO) scams. In this case, scammers are using fake websites that imitate the websites of trusted financial institutions and then use Search Engine Optimization to make their fake website appear near the top of online search results, making it seem like it is the
legitimate website.

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_mpb

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 biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.

Planned Solutions, Inc.