Episode 1305: The Weekly Wrap 06.22.24

Winning at Life with Gregory Ricks: The Weekly Wrap

Market insights, Covid Employer Tax-Credit Claims, Social Security , and 401K options.
Winning at Life Show Contributor joins the show.

CPA Jude Heath with J Heath & Co., LLC. (10am hour)
Gregory and Jude discuss the IRS to Reject Billions of Dollars in Covid Employer Tax-Credit Claims.

The Internal Revenue Service is planning to deny billions of dollars of what it says are improper claims for a popular pandemic-era tax credit, while starting to gradually pay out some claims that have been sitting at the tax agency for more than nine months.
Weekly Market Insights
The Federal Reserve said last week it plans for only one rate cut in 2024 — and that it likely won’t happen until November or December. That’s a big change from earlier in the year when markets were expecting six or even seven rate cuts before year-end.

Markets seemed to shrug off the news, with the S&P 500 and Nasdaq both hitting new record highs. The indices have been buoyed by great performance by companies like Nvidia, which completed a 10-to-1 stock split earlier this month. Markets are also hoping the Fed will change course and that we’ll actually see multiple rate cuts this year or that they’ll start earlier than November.
Caller questions include:

401K

Social Security