Planned Solutions

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. Also, 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 realized tax losses, which can be deducted on an income tax return, by selling the investment and reinvesting the money into a different investment. And, The amount that an individual can give to another individual in a year without having to file a gift tax return will increase from $16,000 i