In this episode of the Planned Solutions Incorporated Podcast, The Institute of Supply Management (ISM) reported a strong rebound in manufacturing and non-manufacturing (services) sector activity in June. This is another in a long line of positive economic reports showing that the US economy rebounded quickly in May and June as many states lifted some economic restrictions.

Also, Car sales dropped sharply in the second quarter but showed strong signs of a recovery in the last weeks of the quarter. Dealers that were willing to offer discounts and attractive financing terms earlier in the month have shifted to a focus on profitability and more conventional financing making it more difficult for consumers to find a deal despite the continued economic challenges.

And, The CARES Act suspended Required Minimum Distributions (RMDs) for the 2020 tax year. However, some people had already taken their RMDs before the CARES Act was passed. The IRS recently issued guidance that anyone who took their RMD before June 23, 2020, may return to the money to their retirement account by August 31st to undo the distribution. This may allow some taxpayers to reduce their tax liability for 2020 by returning their RMDs and reducing their taxable income.

Plus a look at the Planned Solutions Incorporated Office Bulletin Board- It is that time of year again … charity golf tournament season. It is the time of year when we can get outside, enjoy the warm weather, have fun, and support worthwhile causes in a socially distanced environment. With that said we hope you will join us again this year in playing golf and raising money for cancer charities.

The Harlan D. Wood Memorial Cancer Charity Golf Tournament is just a few months away. We hope you will sign up to attend or support the cause by donating to a cancer charity of your choice.

Date: Thursday, October 1st, 2020

Location: Rancho Murieta Country Club – North Course

7000 Alameda Drive

Rancho Murieta, CA 95683

Time: 12:30 pm shotgun start

All profits go to cancer research and education. You can help by attending the tournament or donating.

Chase Armer's book- Financial Planning Insights is now available at:

https://store.bookbaby.com/book/financial-planning-insights

https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279/ref=sr_1_1?dchild=1&keywords=chase+armer&qid=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

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