Whew…. that was easy…. NOT!
Finally we can say goodbye to 2019 taxes … Wednesday Marked the due day for personal Federal Income Tas Extensions.
Luckily (where work and opportunity cross – neat saying heard recently) in the fall of 2019 we went through EVERY taxable portfolio and confirmed tax basis – both reported and unreported to the IRS…. never knowing what this year would bring. This exercise effectively minimized tax documents to one report per account.
Glad we are done!
A Nerd Incident with Robert Kaplan and the Dallas Federal Reserve
On Wednesday of this week, yours truly attended a Virtual Town Hall chaired by Robert Kaplan (pretty big Fan, here is a link to nine articles we have written for those interested).
In true nerd multitasking form, the Zoom meeting started, on the Cell, why not listen while jogging? Cell inserted into runners band on arm and away we go!
Expect comments on the talk, it was very good and interesting…..
Post jog, cell back off runners arm band and onto the couch as the live question and answer session had commenced.
“Next Question is from John! “Quick glance to the cell and an Unmute flashing button was covering my entire screen! Yikes
“John you must Unmute your device“
Twice from the moderator then twice from Robert Kaplan
With no question, the Unmute button was not going to be touched! Finally after what was likely 5 seconds, but felt like 5 awkward minutes, the moderator and Kaplan moved on!
Whew, embarrassing moment averted… or was it!
A question or two later and then this:
“Ok, that was our last question, let’s go back to John and see if we can get his question answered!“Oh No!!!!
This time the Zoom video was shut off before the Unmute logo hit the phone screen….
Can’t make this up!
Hope you enjoyed a nerds chance encounter with Robert Kaplan and maybe even got a chuckle.
Enjoy your Friday, and your weekend …. going to be chilly for the first time in our neck of the woods…. talk next week!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
February 2023 – Financial Planning and Capital Market Review – Tax Preparation(s) and Reminders – ODTE’S (What?) – Advanced Analysis Series – When Good Economic News is Bad – By John Kvale CFA, CFP
Hello and Welcome to our February 2023 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 thoughts and current events!
Hope you enjoy!
February 2023 Video –
Financial Planning Tip(s)
All About Taxes or the Getting Ready for the Processing of Personal 1040’s
Corrected 1099 Reminder
Just last Friday we reminded of the Corrected 1099 time frames …. and NOT to rush your taxes if you have after tax accounts that generate the all encompassing 1099 Misc and Int Tax Forms ….
With originals due on or around the end of February …. aka NOW – hah The good ole Corrected’s are a few weeks out yet… not to worry we will let you know who those lucky ones are that get a Corrected and a headcount that let’s us know if those early planners/filers may be safe to go forward !
IRS Pointer and J.K. Financial, Inc. Important Reminder too
Also, early in the month here, which may seem like and eternity ago (or not) we highlighted an IRS heads up email about prepping for Taxes AND we added our most important thought, which has come into play multiple times already this season…hence the happy repeat and acknowledgment :
” … We would add, just because you did not receive a tax notice, DOES NOT mean the IRS did not and is looking for the appropriate notation on your tax return (Huge amount of time this occurs with cashing Series EE bonds) … a missing item is an easy automated paper letter audit….and as mentioned here absolutely requires a response …”
Capital Market Comments – Advanced Analysis Series Begins
ODTE’S — Zero Dated to Expire Options – Part Two of our Advanced Analysis Series
Here in this Post we talk about a VERY heavy topic …. ODTE (Zero Dated to Expire Options) their unusual quantities, as well as their possible Capital Market manipulation …. not only that, but this post also is Part 2 of our Multiple part series that we intend to do this year… in addition, here is a screencast video during market hours to help explain our point too…
When “Good” News can be Bad – Fast Economic Reminders
In another reminder like post, here we speak of when “Good” News can be seen as bad due to the FOMC (Federal Open Market Committee) attempt to slow the economy…
The good news is from this report lots of jobs and more than expected…. Bad News… Fed may continue to be aggressive in slowing the economy… aka Higher short term rates…
Two year at the time was 4.41% now 4.81% a LARGE move for such a short term of 2 years!
Have a Great Day, Talk to You at the End of March!
John A. Kvale CFA, CFP
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Posted in Audio, FOMC, General Financial Planning, Investing/Financial Planning, Market Comments, Monthly Review, Podcast, Retirement Planning, Video
Tagged Form 1040, Income Taxes, IRS, John Kvale, Monthly Review, personal tax returns, Personal Taxes