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.
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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: Shannon@PlannedSolutions.com
FAX: (916) 361-0191
WEBSITE:
www.PlannedSolutions.com