Whew, that was easy…. tax season is finally mostly over ….
We wanted to look back one last time on our personal taxes before we sunset those tax strategies for the high point of the season….
As a reminder, we started with an Audio Podcast format for those that are unable to SEE the video or just prefer to listen to the audio… this makes the review slightly longer, but more descriptive.
April 2017 Video
Financial Planning Tip(s)-
AMT Tax Reminder
We ran across a lot of AMT or Alternative Minimum Taxes this season
Here are the key thoughts from our detailed post on AMT earlier this month-
- Incomes between $170k and $313k joint and singles over $100k – you are in the cross hairs of AMT
- Deferring income may be useful
- Accelerate income
There is not a lot of planning changes with AMT, but in this case knowledge may be power!
Possible MAJOR tax reform
Late in the month an overview of major tax reform was released.
Here is a link from the White House
Here is a link from Barron’s that does a pretty good analysis
Here is our article on the possibilities earlier this month
What to do if you overfund your 401k/retirement plan
In our overfunding 401k post here, we discuss how your 401k/retirement plan can get overfunded….. here are the main points
- Refund the extra amount ASAP
- Apply the extra to the new year
- If its a super small amount, its not the end of the world
Capital Market Comments
First Double Digit Earnings growth since 2011 expected
From our friends at Factset, who do a terrific job of outlining historic and future earnings.
Earnings are the ultimate driver of capital markets!
What is nice about these estimates are that historically companies have been beating the street estimates … if this continues, the actual earnings may be even better double digit growth…. time will tell and we will be watching!
John A. Kvale CFA, CFP
Will the European Union/Euro Survive ?
The neat thing about listening and visiting with so many “Experts” last week is when several crossovers occur. By crossover, we mean different experts unknowingly saying the same thing.
European Union Survival?
The Euro, a combination of 28 different countries (founded in 1999) all linked to one currency with a common goal of trade and a common currency to ease flow of funds, had a shot fired across the bow of its boat in 2016 with the British vote – Brexit – vote to leave, costing David Cameron his job.
David Cameron (the newly much higher respected) former Prime Minister/President of Britain, who lost his job over the locals vote to leave, said there is only one thing that would cause the Euro to split.
Oddly, a terrific crossover by Canadian Economist, Derek Burleton (more fantastic info to come soon) echoed the same EXACT kryptonite for the European Union.
Marine Le Pen elected as France leader would mean possible end to European Union
We do not have a say, we are not familiar with Mrs. Le Pen, we are only announcing what two VERY distinguished experts said exactly the same un-knowingly at different moments at our event.
Mark the calendars as the election is April 23, 2017 !
Of course a split up of the European Union would have consequences for the global economy. We have interesting thoughts on these possible “consequences” should this occur….closer to the vote !
For the record, both Cameron and Burleton gave a very low probability of Mrs. Le Pen being elected.
Thanks for the forecast !
Have a GREAT “Forecast” Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
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Posted in Investing/Financial Planning, Market Comments, Political, World Political
Tagged David Cameron, Derek Burleton, EU, Euro, European Union, Marine Le Pen