Daily Reads 4/15/2019
Happy Monday! We hope you had a great weekend. Today is tax day so we provide reads on how to cipher your 2018 tax return, the trajectory of the US Economy, and taxable accounts vs employer-sponsored retirement plans.
Market & Economy
After large economic growth in 2018, our economy is now slowing, but records indicate that this has been the largest economic expansion in history, coming up on 10 years since the financial panic.
This week, the US will release consumer spending data and international trade data which will provide more insight on the trajectory of our economy. Nearly seven months after President Trump and Japanese Prime Minister Shinzo Abe agreed to start two-way trade talks, officials are finally getting to work.
Happy Tax Day! Here is what you can learn about your 2018 tax return. Thanks to the new tax laws that went into effect last year, the just-ended tax season was a doozy. Although many fewer taxpayers are expected to itemize their deductions under the new tax regime, tax preparers still had to run the numbers to compare deductions eligible for itemization with the new, higher standard deduction.
If you’re one of the tens of millions in line for a big tax refund check this season, there’s one other step you should think about taking before you spend a dime
“More people are stashing their money in taxable accounts and less so in employer-sponsored retirement plans.” People want to be able to withdraw money faster and easier. Ownership of taxable brokerage accounts jumped 10 percentage points over the last five years, and checking, saving and CD accounts increased 9 percentage points, according to retail investor data firm Hearts & Wallets.