On It with Offit - February 2023

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FEB | 2023 For Current Clients, be sure to watch out from tax notices from Kestra, Fidelity, Assetmark, and various other investment firms.  You will need to include your 1099s and 5498s on your tax filing for 2022!   If you have a long term care insurance policy, you have some tax deduction opportunities! Learn More   If you are a business owner with a 401k you have some other tax savings opportunities!  Learn More Offit Advisors' Financial Advisor Rachel Burk Featured on Nasdaq.com  Check out this article from Nasdaq.com featuring Offit Advisors' Financial Advisor & Financial Planning Specialist Rachel Burk, who lends some key insight to an article entitled Want a Higher Savings Rate? Ask Your Bank for a Raise. Read More Ben Featured on The Financial Advisor's Workshop Podcast with Brian Kasal Join Ben Offit and Host Brian Kasal on the Financial Advisor's Workshop podcast for Episode #36 | The Real Risk Is Not Being Ready For When The Market Rebounds. Listen Now proACTION℠ Planning Series Episode 4 | Mortgage Planning and Refinancing Join Ben Offit, CFP® for a crash course in mortgage planning, and discover what you should consider before refinancing. Shell became the latest oil giant to report eye-watering profits last year. It earned nearly $40 billion in 2022, making last year its most profitable in its 115-year history. Morning Brew, February 3, 2023   As of last Monday morning, Jan 16, the Russell 3000 benchmark for the entire U.S. stock market was up about 4.85% over the three-month period since late October 2022. By contrast, the MSCI World ex-U.S. index has surged more than 19%, while the pan-European Stoxx 600 was up more than 12%. CNBC, January 24, 2023 Several states are raising their minimum wages this year. The tight labor market has forced employees' wages that are much higher than the legal minimum. Average hourly pay for nonsupervisory retail workers rose 4% in December from a year earlier, to $19.93. The Wall Street Journal, January 24, 2023   The San Antonio Zoo is offering a special Valentine’s Day greeting for exes who just won’t bug off. For $10, the zoo will name a cockroach after your not-so-special someone and feed it to an animal. Those not into bugs can choose a rodent for $25 instead. Donors can opt to send their ex-boo a digital Valentine’s Day Card informing them that a cockroach or rodent was named after them and fed to an animal. Last year they received more than 8,000 donations from all 50 states and over 30 different countries. CNN, January 29, 2023   In October of 2022, billionaire Larry Ellison was pulled over for running a stop sign and speeding on the Hawaiian Island of Lanai – which is 98% owned by Ellison. RepublicWorld, January 13, 2023   “A lie can travel halfway around the world while the truth is putting on its shoes." Mark Twain S&P 500 Index is an unmanaged group of securities considered to be representative of the stock market in general. You cannot directly invest in the index. Dow Jones Industrial Average - The Dow Jones Industrial Average is a popular indicator of the stock market based on the average closing prices of 30 active U.S. stocks representative of the overall economy.  NASDAQ Composite Index measures all NASDAQ domestic and international based common type stocks listed on The NASDAQ Stock Market. Today the NASDAQ Composite includes approximately 5,000 stocks, more than most other stock market indices. Because it is so broad-based, the Composite is one of the most widely followed and quoted major market indices. Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 8% of the total market capitalization of the Russell 3000 Index which includes the 3,000 largest companies in the U.S., based on market capitalization. As of the latest reconstitution, the average market capitalization was approximately $762.8 million; the median market capitalization was approximately $613.5 million. The largest company in the index had an approximate market capitalization of $2.0 billion and a smallest of 218.4 million.  Russell 1000® Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values.  Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.  Government bonds are guaranteed by the U. S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. Securities offered through Kestra Investment Services, LLC (Kestra IS), Member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Offit Advisors is not affiliated with Kestra IS or Kestra AS. Offit Advisory Services, LLC is a tax firm but neither Kestra IS nor Kestra AS provide legal or tax advice and are not Certified Public Accounting firms.For more information on the Five Star Wealth Manager and the research/selection methodology go to: www.fivestarprofessional.com. Investor Disclosures: https://bit.ly/KF-Disclosures 6990 Columbia Gateway Drive Suite 150 Columbia, MD 21046, US Phone + Fax:  410 600 PLAN (7526) E – Office@OffitAdvisors.com W- www.OffitAdvisors.com   To schedule an appointment with us, click here! The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.