The Weekly Wealth of Knowledge is your download of this week's most important topics related to financial planning, the markets, and our community. As we close out May and Eldercare month at MONECO Advisors, we now prepare to kick off June with an emphasis on safety. Our content all month long will focus on things you should be aware off and the steps you need to be taking to protect you and your families, your homes and your assets.
In this issue:
• Long-Term Care Premium Deductibility For 2022 (2 min read)
• April Retail Sales Rise (3 min read)
• Father's Day Activities For Seniors (3 min read)
BONUS: Fairfield Police Sunset 5k - Presented by MONECO Advisors
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Long-Term Care Premium Deductibility For 2022
With the complexities of the tax code in the U.S. and the constant changes that the IRS makes, it is important to take advantage of any deductions that you qualify for. This week we look at the potential deductibility of long-term care insurance premiums, the limits and what else you need to be aware of in 2022.
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April Retail Sales Rise
Despite inflationary headwinds, the consumer, which is a driving force behind Gross Domestic Product (GDP), continued to spend in April, pushing up retail sales. Some believe if inflationary pressures begin to ease, this indicator could potentially contribute to a rebound in economic growth for the second quarter. As always, if you have any questions, do not hesitate to reach out.
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Father's Day Activities For Seniors
As we close out "eldercare" month in May, we will kick off "safety" month for June, but before we do, we leave you with one last article on how we can help celebrate all those special elder fathers in our lives. Below is a list of gift ideas as well as activities that you can engage them with as we ring in Father's Day on June 19th.
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Fairfield Police Sunset 5k Presented by MONECO Advisors
The 4th Annual Fairfield Police Sunset 5K is Presented by MONECO Advisors. All proceeds will be donated to the Fairfield Police Union Scholarship Fund & the newly formed Fairfield Police Foundation. You can run (3.1 mile) or walk (1 mile) course. We were able to increase the number of participants to 1000 this year and do expect to sell out, so don't delay, sign up today for Fairfield's most memorable night of the summer! Sponsorship opportunities available via the registration link as well.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.