27 Min.
US First Quarter Economic Growth Rate, Home Insurance Cancelations & IRS Audits Planned Solutions
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- Wirtschaft
Welcome to the @plannedsolutions Incorporated Podcast. The US economy is estimated to have increased by just a 1.6% annualized rate in the first quarter. The most important categories of personal consumption expenditures and investment expenditures reported reasonably strong growth rates of 2.5% and 3.2%, respectively. However, government spending, especially in national defense, fell in the first quarter and the balance of trade subtracted from growth as the growth in imports outpaced the growth in exports.
Also, we are seeing a disturbing trend of people reporting to us that their homeowner’s insurance policy is being cancelled or not renewed. In this case, it is important to talk to a professional about the options available. This may include asking your insurance company to reconsider their decision or looking for alternative insurance, such as your state’s FAIR Plan, which may result in a big increase in insurance premiums.
As well, Individual income tax returns have a three-year statute of limitations. This means the IRS has three years to audit a taxpayer’s income tax returns unless there is a gross misstatement of income or the IRS suspects fraud, in which case the time period is extended or unlimited. Taxpayers also have a three-year period to make changes to their tax return to either self-report additional tax due or to file for a refund which may have been missed. The three year period starts on the due date of the return or when it is filed, whichever is later.
Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Chase and Daryl attended the FPA of Northern California Spring Symposium which featured two speakers, including Chase, giving an update on the current market environment along with an Inspirational Speaker giving us Tools to Overcome Adversity.
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.
US First Quarter Economic Growth Rate 01:45
Home Insurance Cancelations 12:20
IRS Audits 18:20
PSI Office Bulletin Board 22:30
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
Planned Solutions, Inc.
https://www.plannedsolutions.com/
Welcome to the @plannedsolutions Incorporated Podcast. The US economy is estimated to have increased by just a 1.6% annualized rate in the first quarter. The most important categories of personal consumption expenditures and investment expenditures reported reasonably strong growth rates of 2.5% and 3.2%, respectively. However, government spending, especially in national defense, fell in the first quarter and the balance of trade subtracted from growth as the growth in imports outpaced the growth in exports.
Also, we are seeing a disturbing trend of people reporting to us that their homeowner’s insurance policy is being cancelled or not renewed. In this case, it is important to talk to a professional about the options available. This may include asking your insurance company to reconsider their decision or looking for alternative insurance, such as your state’s FAIR Plan, which may result in a big increase in insurance premiums.
As well, Individual income tax returns have a three-year statute of limitations. This means the IRS has three years to audit a taxpayer’s income tax returns unless there is a gross misstatement of income or the IRS suspects fraud, in which case the time period is extended or unlimited. Taxpayers also have a three-year period to make changes to their tax return to either self-report additional tax due or to file for a refund which may have been missed. The three year period starts on the due date of the return or when it is filed, whichever is later.
Plus a look at the Planned Solutions Incorporated Office Bulletin Board - Chase and Daryl attended the FPA of Northern California Spring Symposium which featured two speakers, including Chase, giving an update on the current market environment along with an Inspirational Speaker giving us Tools to Overcome Adversity.
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.
US First Quarter Economic Growth Rate 01:45
Home Insurance Cancelations 12:20
IRS Audits 18:20
PSI Office Bulletin Board 22:30
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
Planned Solutions, Inc.
https://www.plannedsolutions.com/
27 Min.
Top‑Podcasts in Wirtschaft