Hello and Welcome to our March 2020 Financial Planning and Capital Market Update!
If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast audio format as well as Video!
We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets and current events!
Hope you enjoy!
March – 2020 Video
Financial Planning Tip –
Tax Filing/Payment Due Date Extended
- This from the IRS Announcement:“Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.
The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.”
Capital Market Comments
Unknown that will eventually be Known
Unique to this slowdown is that it is needed and self designed.
In the prior two slow downs, the economy was stretching the limits of the system and slowed with many other outside items adding to the decrease.
This event, while unknown at the moment, will be very measurable, likely more than any recent slowdown.
The speed of the slowdown may lead to the speed of the recovery.
The stimulus being put into the system is large by any measure and will eventually gain traction.
Have a Great Day – Talk to you at the end of April!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth