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November 2022 Update: Austin Housing Market, US Stock Market Presentation on 12/19/22, Deadlines to Know Over The Near Term

I hope you had a great Thanksgiving! This month’s update covers three items.

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  • As a follow up to our real estate analysis last month, here are two interesting articles. They have been uploaded to your vault/articles folder.

  • I will be presenting to the American Association of Individual Investors (AAII) Austin and San Antonio Chapters on The Challenges and Opportunities of the US Stock Market on Monday, December 19th at 7 pm. The meeting will occur in person as well as via video.

    • During the presentation I plan on discussing investment return expectations over the intermediate term, where there are opportunities for US stocks and timeless investment lessons.

    • The presentation will take place in the Lost Creek Limited District Building at 1301 Quaker Ridge Drive, Austin, TX 78746. If you would like to attend or watch a video of the presentation just let me know.

  • Personal finance task deadlines can pile up this time of year. Below are some deadlines.

    • November or December: Most employers have employee open enrollment related deadline

    • 12/7/22: Medicare open enrollment due

    • 12/31/22: Last day to make charitable contributions~, receive required minimum distributions for qualified accounts and claim losses on taxable accounts for 2022 federal tax returns

    • 3/15/23: Last day to use your 2022 Flexible Spending Account (FSA) balances if your employer offered a grace period. Otherwise, the 2022 FSA spend deadline is 12/31/22.

    • 4/18/23: Last day to contribute to most IRA accounts, Roth IRA accounts, Health Savings Accounts^ for 2022 federal tax year

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 ^ For non-Texas residents consult your state for Health Savings Account state income deduction deadlines


~ Note on charitable contributions to 529 education savings plans- The IRS treats contributions toward 529 college savings plans as gifts for tax purposes. An individual can gift up to $16,000 in 2022 or $17,000 in 2023 to any other individual without needing to report the funds to the IRS for purposes of a gift tax. Married couples can contribute the same amount (e.g., husband $16,000 in 2022, wife $16,000 in 2022) to one individual. Usually, annual contributions to any individual above the threshold would count against your lifetime gift tax exemption (2022: single $12.06 million, married couples $24.12 million, 2023: single $12.92 million, married couples $25,84 million). However, there is an exception made for contributions within a 529 plan. You can give five years' worth of contributions in a one-time lump sum. For example, a grandparent can give an $85,000 one-time lump-sum contribution to a 529 plan ($17,000 per year multiplied by five years) with the understanding that it would cover five years’ worth of gifts. As long as that person doesn’t contribute again in the next five years, there are no tax consequences. Source: Investopedia.com

Have a great holiday season!

William E. Hawes, CFA, CFP®
President and Chief Investment Officer
Candor Asset Advisors
 
512 522-8501
bhawes@candorassetadvisors.com

www.candorassetadvisors.com
 
If you would like to catch up my scheduling link is below.
https://calendly.com/bhawes-1/brief_conversation

Disclosures
Investment advisory and financial planning services offered through Candor Asset Advisors, LLC, a registered investment adviser. Consult your attorney, CPA, real estate or insurance professional for advice in those areas. Links to third-party articles are for informational/marketing purposes only. 

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