Planned Solutions

We have already reviewed several of the new tax code provisions from the passing of the One Big Beautiful Bill Act (OBBBA). To expand the review to be more comprehensive, we are including a review of three additional provisions: the no tax on overtime, the deduction for auto loan interest, and the expanded deductions for charitable contributions for taxpayers who do not itemize their deductions.

The Bureau of Labor Statistics announced that the US economy added just 74,000 jobs in July. At the same time, the Bureau revised down its job growth numbers for May and June by 225,000 jobs. This means the US economy added just 107,000 jobs in the past three months, a low average of just 36,000 jobs per month.

The new tax law promised to eliminate taxes on Social Security income. That did not happen, but a compromise was reached to give seniors (those over age 65) a larger standard deduction of up to $6,000 per taxpayer. However, the new deduction comes with income limits. Single taxpayers with income over $75,000 will begin to have the deduction reduced, while married taxpayers with income over $150,000 will not be eligible for the full deduction and may have it reduced to zero.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - The second of our two summer interns from 2024 has officially joined the Planned Solutions team. Matt Young finished his degree from Oregon State this past semester, took some time off between school and joining the workforce, and officially joined Planned Solutions on July 30th. Matt will be joining his counterpart, Carter Osborne, in studying for the Certified Financial Planner exam, learning how to apply the knowledge and skills they learned in college to real-world situations, and supporting the financial planners in the office through a paraplanner role.

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

⁠Intro 00:00

Jobs Data and Drama 01:10

Increased Standard Deduction for Seniors 12:02

Increased Standard Deduction for Seniors 17:56

Bulletin Board 22:36

Planned Solutions, Inc.

ADDRESS:

1130 Iron Point Road, Suite 170

Folsom, CA 95630

PHONE: (916) 361-0100 or (800) 750-2111

E-MAIL: [email protected]

FAX: (916) 361-0191

WEBSITE:

www.PlannedSolutions.com

The IRS has released its recent "Dirty Dozen" list of tax scams that taxpayers should be aware of. This year, the list once again includes scams in which criminals attempt to impersonate the IRS or other tax authorities to get access to taxpayers’ private financial information. In addition, misleading or false tax advice being spread on social media has led many taxpayers astray by convincing them that they can file incorrect tax returns in an attempt to claim credits or deductions that don’t exist or that they do not qualify for.

The US inflation rate ticked up in June. However, the main reason that inflation increased was not the expected impact of tariffs being passed on to US consumers. In fact, the cost of goods had a very minor impact on inflation. Instead, it was housing that continues to be the primary cause of US inflation, accounting for about half of the overall inflation rate

The new tax and budget bill that passed Congress and was signed by the President will increase the allowable deduction for State and Local Taxes (SALT). Before the passing of the bill, the deduction for SALT was limited to $10,000, making it so that many taxpayers did not have sufficient deductions to itemize their tax deductions. However, the SALT deduction limit has been increased to $40,000, which may benefit taxpayers with large state income tax and/or local property tax bills.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - We are now taking registrations for our annual charity golf tournament. Giveaways for the

tournament are being delivered daily, and we are gathering donations for the silent auction. We

hope you will be able to attend (either golf or the reception) or donate to a cancer charity to support

our efforts.

The Harlan D. Wood and Debbie Druivenga Memorial Cancer Charity Golf Tournament

Date: Friday, October 10, 2025

Location: Rancho Murieta Country Club – North Course

7000 Alameda Drive

Rancho Murieta, CA 95683

Time: 1:00 pm shotgun start (boxed lunch included), 5:30 pm reception

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

donating. Not golfing? Bring friends and attend the reception.

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

⁠Intro 00:00

The IRS Dirty Dozen 01:27

Inflation Ticks Up in June 13:04

SALT Deduction for 2025 19:03

Bulletin Board 25:44

Planned Solutions, Inc.

ADDRESS:

1130 Iron Point Road, Suite 170

Folsom, CA 95630

PHONE: (916) 361-0100 or (800) 750-2111

E-MAIL: [email protected]

FAX: (916) 361-0191

WEBSITE:

www.PlannedSolutions.com

The Federal Reserve cut interest rates multiple times in late 2024 but has since paused on the path toward its stated goal of normalizing interest rates. Given the uncertainty from the impact of changing fiscal and trade policies, it may have been prudent for the Fed to hold interest rates steady while waiting to see the impact of the policy shift. However, the data from the first five months of this year has held steady and become more supportive of a resumption of the Fed’s previous interest rate policy, increasing the odds of a July cut.

Investors are always looking for an edge in the competitive world of investing. One of the tools that investors have added to their toolkit is monitoring betting markets where betters can make bets on economic and financial events. These markets tend to be very accurate as the “wisdom of the crowd” tends to create a market that assigns odds of an event occurring that are difficult to beat, as all relevant information is priced in.

The American Opportunity Tax Credit is a very valuable tax benefit for those who are paying college tuition costs for a beneficiary. However, not everyone qualifies as the benefit is phased out and then eliminated for those in higher income tax brackets. Therefore, it may be beneficial for taxpayers to plan ahead to see if they can reduce their taxable income to qualify to claim the tax credit.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - We will soon be sending out the registration forms for our annual charity golf tournament. We are busy ordering the giveaways for the tournament and gathering donations for the silent auction. We hope you will be able to attend (either golf or attend the dinner) or donate to a cancer charity to support our efforts.

The Harlan D. Wood and Debbie Druivenga Memorial Cancer Charity Golf Tournament Date: Friday, October 1o, 2025 Location: Rancho Murieta Country Club – North Course 7000 Alameda Drive Rancho Murieta, CA 95683 Time: 1:00pm shotgun start, 5:30pm dinnerAll profits go to cancer research and education. You can help by attending the tournament or donating. Not golfing? Bring friends and attend the dinner.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠

⁠Intro 00:00

The Federal Reserve’s Dilemma 01:25

What the Betting Markets Tell Us About the US Economy 12:31

American Opportunity Tax Credit (AOTC) 19:00

Bulletin Board 23:26

Planned Solutions, Inc.

There is a lot for investors to be worried about in the current investment environment as US trade policy, deficit spending, and interest rate policy all have investors on edge. However, the stock market has “climbed the wall of worry” in recent months, as data has shown that some worries have not materialized and others were not as severe as expected. As a result, the S&P 500 regained the key level of 6,000 in early June. This could be a key point of delineation for future market moves.

The US Government borrows money by issuing Treasury bonds in regular auctions. These auctions are a way to set interest rates and secure the funding that government needs to refinance maturing debt and pay for deficit spending. These auctions are usually quite routine but recently they have demanded more attention from investors as limited demand for Treasury bonds has caused interest rates to rise higher than expected.

The May jobs report issued by the Bureau of Labor Statistics showed that the US labor market remained strong in May. The US economy added 139,000 jobs for the month and the unemployment rate remained steady at 4.2%. So far, the job losses predicted from government efficiency efforts and the uncertainty around trade policy have not materialized. However, future jobs reports will likely be scrutinized closely for signs of a slowing US economy.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - Daryl recently attended the 53rd FPA Norcal Conference in San Francisco, a local conference where financial planners from across the nation gather to learn about new financial planning strategies, practice management topics, and share best ideas with colleagues.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠

⁠Intro 00:00

US Stock Market Regains Key Level 01:25

Treasury Auctions: The New Market Indicator 13:37

US Labor Market Remains Strong 19:14

Bulletin Board 23:49

Planned Solutions, Inc.

The House of Representatives recently passed a budget/ tax bill that would make the 2017 tax cuts permanent as well as eliminate taxes on tips for some taxpayers and eliminate tax on overtime income. In addition, the bill will increase and make permanent the estate tax exemption and extend tax breaks for small businesses. However, the bill is projected to increase the US budget deficit by $4.3 trillion over the next ten years, which has drawn the disapproval of Republicans in the Senate and the financial markets.

The interest rates offered on Series I Bonds change every six months. This includes the fixed rate paid on new bonds and the inflation rate paid on new and existing bonds for the following six-month period. As these rates change it can make existing bonds (bonds issued in the past) less attractive and new bonds more attractive. For this reason, it is important to review the options available regularly.

Many prospective homebuyers are holding out for a period when home prices may be more affordable due to lower prices, lower interest rates, or a combination of the two. But these two considerations are not equal. The “Date the Rate, Marry the House” strategy highlights the fact that buying a home is a long-term commitment while a mortgage may be a short-term commitment. Therefore, finding the right home should be the priority over the mortgage rate which may be refinanced in the future.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - It is graduation season at Planned Solutions. Carter graduated from Sacramento State University with a degree in Financial Planning. After a short vacation to celebrate he will now be working full-time going forward. Matt Young also graduated from Oregon State University. He plans to travel with his family over the summer and study for the Certified Financial Planner® exam. Currently, the plan is that his start date will be August 4th. The Planned Solutions team is growing with the addition of two bright and motivated young men.

Chase and Michele also have graduates in their family who completed high school this year and will soon be moving out to attend college. Chase’s oldest will be attending Sacramento State University to major in Engineering while Michele’s oldest will be attending San Diego State University.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠

⁠Intro 00:00

House Passes Budget/Tax Bill 02:02

Reviewing Series I Savings Bonds 14:48

Date the Rate, Marry the House 19:25

Bulletin Board 26:12

Planned Solutions, Inc.

The prospect of paying for higher education can be daunting. To lower the overall after-tax cost, it can be advantageous to incorporate tax planning to find ways to use funds that will be tax-advantaged. This may include claiming tax credits, using accounts that have special tax benefits for education savings, or accessing retirement accounts penalty-free.

After a tumultuous April, following the April 2nd announcement of a shift in the US tariff policy, the US stock market has rebounded, erasing the post-April 2nd losses. However, the market remains down slightly for the year and down 6% from its all-time high in February. In addition, there is still a lot of uncertainty about how trade negotiations will proceed and the impacts it will have on global trade.

The State of California tax agency (the Franchise Tax Board or FTB) has increased its efforts to combat tax-related identity theft. As a result, the FTB is issuing far more Information and Document Requests this tax year to confirm the identity of taxpayers before processing their tax returns and issuing their refunds. These requests are not an audit, but taxpayers must take them seriously nonetheless as their tax return will not be processed until the requested information is submitted.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board - Schwab has identified a new twist on the "smishing" fraud threat which is being used by fraudsters hoping to capitalize on market volatility and investor emotion to steal funds and data.As a reminder, do not respond to any text messages that purport to be from Planned Solutions or Charles Schwab. If you receive a message and are unsure, please call our office at our main number: 916-361-0100.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠Intro 00:00

The US Economy Contracted in Q1 but It’s Complicated 01:27

US Stock Market Regains Pre-Tariff Levels 14:08

FTB Information and Document Request 17:53

Bulletin Board 21:24

Planned Solutions, Inc.

With the tariff announcement on April 2nd, many investors have rethought their investment strategy and changed their focus from US stocks to other stock, commodity, or currency asset classes. This has created volatility within the financial markets as investors attempt to discern the potential future winners and losers from the trade war. However, it is important to remember that it is still early, and the initial responses may not indicate the longer-term implications.

The prospect of paying for higher education can be daunting. To lower the overall after-tax cost, it can be advantageous to incorporate tax planning to find ways to use funds that will be tax-advantaged. This may include claiming tax credits, using accounts that have special tax benefits for education savings, or accessing retirement accounts penalty-free.

Variable annuities are complex savings and investment vehicles that come with some unique benefits but also have some drawbacks. Among these drawbacks are high fees, lockup periods, and less favorable taxation in the long term. Therefore, investors should ensure they understand all the pros and cons of purchasing a variable annuity and weigh their options against other investment options.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board -

This year Planned Solutions will be breaking up into small teams to examine different areas of our business to uncover ways that we can better systemize some processes, address areas were better organization will allow us to be more proactive in meeting our client’s needs, and ways we can improve our communications so that our clients are informed about any changes that may be occurring.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠Intro 00:00

The Winners and Losers So Far from the Trade War 01:40

Funding College 11:55

Variable Annuities 16:10

Bulletin Board 21:10

Planned Solutions, Inc. https://www.plannedsolutions.com/

The US negotiating strategy when it comes to tariffs started as a valid game theory strategy to achieve fairer terms of trade with our trading partners. However, the current policy seems to have deviated from the optimal strategy into a territory where the optimal strategy for our trading partner is to continue to escalate tariffs in retaliation to the US policy of competition, rather than cooperation. Taken to its logical end this could lead to tariff rates so high that they don’t just raise prices but effectively put a ban on foreign imports.

The recent increase in US bond yields may be a signal that US trading partners are selling US government bonds in response to the trade war. This could lead to a scenario where the US economy enters a recession due to supply chain disruptions, while at the same time interest rates increase rather than decrease as they do in recessions, making it more challenging for the economy to return to growth.

Target date retirement funds are sold as an easy retirement accumulation vehicle that takes very little thought or monitoring. However, while these funds can be somewhat effective during the retirement accumulation phase,their generic asset allocations often are not a good fit for savers or retirees who do not fit the cookie cutter assumptions that were used in creating the target date funds.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board -

It is important to remember that investment strategies involve altering investment risk in different market environments to preserve capital during difficult markets. For example, the trend following risk management model used by Planned Solutions is an investment strategy designed to reduce risk when the market enters a negative trend to preserve capital and have proceeds available to buy at more attractive prices should the market decline continue.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠Intro 00:00

Negotiating Strategies and Tariffs 01:07

Trade War and Interest Rates 13:01

Target Date Funds Upon Retirement 20:35

Bulletin Board 27:17

Planned Solutions, Inc.

Periods of market volatility can be stressful, and studies show that stress can cause long-term investors to make poor short-term decisions that hurt their long-term performance. In some cases, one poor short-term decision could put long-sought-after financial goals at risk. Therefore, it is valuable to know how to take a different perspective on short-term market volatility to make it easier to stay grounded and objective during periods when stock market prices appear erratic.

Diversification has long been a tenet of investment strategy. Yet in the past few years it has actually paid to be less diversified as long as the portfolio was concentrated into the largest growth stocks on the US stock exchange. However, so far in 2025 there are signs that this trend may be reversing as value stocks have outperformed growth stocks and foreign stocks have surged while US stocks have slumped.

Variable annuities can be a complex and confusing investment vehicle. This is especially true when it comes to the rules around taxation and the distribution options for the annuity contract beneficiaries. Therefore, it is very important for annuity owners and anyone considering investing in an annuity to make sure they have a full understanding of the potential income tax and estate planning drawbacks of annuities.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board -

As a reminder, taxpayers are allowed to file for an automatic extension of time to file their personal income taxes if they are unable to complete their tax returns by the April 15th deadline. This extension gives taxpayers six additional months to file their taxes, making the extended deadline October 15th.

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_mpb⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⁠Intro 00:00

How to Deal with Market Volatility 01:07

Benefits of Diversification 13:19

Inherited Annuities 18:24

Bulletin Board 23:19

Planned Solutions, Inc.