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Weekly Wealth of Knowledge - Week of 11/8/21

November 09, 2021

The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. November kicks off "giving" month at MONECO, as we welcome in all that we should give thanks for. This year, like last, it means more than anything after all that we have been through over the past 18 months. All month long we will be providing you content on how to give back in many ways, to your friends, your community and to your family. And let’s do our best to continue this trend, not just this month, but throughout the entire year!

In this issue: 

  • Tax Law Changes : What's In, What's Out? (2 min read)
  • FED's Asset Purchases To Slow (2 min read)
  • Ways To Give Back To Veterans (4 min read) 

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Tax Law Changes : What’s In, What’s Out?

While it’s still too early to draw any final conclusions, Congress is getting closer to outlining what tax law changes are under consideration to pay for the proposed $1.75 trillion Build Back Better Plan.1

For now, it appears that changes to capital gains and personal tax rates are off the table. The conversation is shifting to a new corporate minimum tax while adjustments to estate taxes may be still under consideration.1

Investors cheered as some of the tax-law uncertainty was lifted. In October, the Standard & Poor’s 500 stock index tacked on nearly 7 percent.2

While some initiatives are left behind, others are seeing renewed interest. A growing number also appear to be warming up to the idea of a “billionaire’s tax,” a special tax designed to focus on the 800 or so wealthiest Americans.3

Critics of the billionaire’s tax remind the legislature that when the Alternative Minimum Tax (AMT) was introduced in 1969, it was targeted at 155 individuals with adjusted gross incomes above $200,000 who paid zero federal income tax on their 1967 tax return. But by 2017, nearly five million taxpayers were assessed a minimum tax.4,5

“It ain’t over till it’s over,” said baseball legend Yogi Berra, when his 1973 New York Mets appeared out of the National League Pennant race. (The Mets eventually won the pennant but lost the World Series in 7 games to the Oakland Athletics.)6

If you’re feeling unsettled as Congress continues to work on these tax law changes, please reach out. Or if you want to talk about World Series baseball,
give us a call.


FED's Asset Purchases To Slow

The Federal Reserve announced this week that it will begin to slow its monthly asset purchases, the first step in changing its Covid-era monetary policies. This process is known as "tapering" and often has a negative impact on the financial markets. As of this writing, investors have thus far shrugged it off as a secondary indication that the FED is still seeing signs of economic recovery.

Click here to read the full article


Ways To Give Back To Veterans

With November being "giving" month at MONECO, and Veteran's Day coming up this week, we figured it appropriate to include ways that we can all give back to our veterans, not just in November, but throughout the year. The list below includes some of the most popular organizations that support our servicemen and women. As always, if we can help in any way or you have any questions, do not hesitate to reach out!

Click here to read the full article

1., October 25, 2021
2., October 31, 2021
3., October 25, 2021
4., 2021
5., March 4, 2020
6., September 23, 2015

This article is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and financial professionals before modifying your overall tax strategy.

The S&P 500 Composite Index is an unmanaged group of securities considered to be representative of the stock market in general. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. 

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.