Decrease In Inflation , Tax Loss Harvesting , Gift Tax Exclusion
b"In this episode of the Planned Solutions Incorporated Podcast, The US inflation rate declined to 7.1% in November, the fifth consecutive month of decline. While food and energy inflation remain high year-over-year, both show shorter-term improvement with the pace of the increase in food prices declining and energy prices dropping in four of the last five months. Meanwhile, services prices have increased, but not by enough to offset the weakness in goods prices, which is a positive sign that inflation may continue to decline.\\n\\nAlso, 2022 may be a good year for tax loss harvesting. With the difficult year in the financial markets, many investment holdings may have unrealized tax losses. These losses can be converted into\\nrealized tax losses, which can be deducted on an income tax return, by selling the investment and reinvesting the money into a different investment.\\n\\nAnd, The amount that an individual can give to another individual in\\na year without having to file a gift tax return will increase from\\n$16,000 in 2022 to $17,000 in 2023. Married couples may also\\nengage in gift-splitting in which each gives an individual the\\namount of the gift tax exclusion so that the total that can be gifted in a year will increase from $32,000 in 2022 to $34,000 in 2023.\\n\\nPlus a look at the Planned Solutions Incorporated Office Bulletin Board- With the holidays quickly approaching, we want to make sure you are aware of our holiday schedule for this year. \\nDecember 26th Closed\\nDecember 30th Closed\\nGiven the above holiday schedule, as well as the holiday schedule of many of the companies that we work with, we ask that any forms or other requests that must be completed before year-end be submitted as soon as possible. If any paperwork or requests come in close to the end of the year, we will make our best efforts to process the forms or fulfill the requests but cannot guarantee that it will be completed in time due to factors beyond our control.\\n\\nChase Armer's book- Financial Planning Insights is now available at:\\nwww.amazon.com/Financial-Planning\\u20261586894022&sr=8-1\\n\\nTo subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail Katie@PlannedSolutions.com\\n\\nThe Personal Finance Review is published and distributed on a biweekly basis by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.\\n\\nPlanned Solutions, Inc."