Lance Pelky and Associates, Inc.

03/16/2026

A newly introduced tax deduction aimed at older Americans could reduce taxable income for millions of households.

Under the proposal, individuals age 65 and older could claim an additional $6,000 deduction on their federal taxes. Lawmakers say the measure is designed to provide relief for retirees facing rising living costs.

If enacted, the deduction could apply to both single filers and married couples who meet income requirements. Supporters argue that the change may help offset later-in-life expenses for housing, healthcare, and everyday costs.

Because the proposal is still moving through the legislative process, details, which include eligibility thresholds and how the deduction would be phased in, could still change.

Tax rules can be complex, so it may be helpful to review any updates with a qualified tax professional. I’m always happy to connect if that would be helpful.

A new tax deduction for senior citizens is kicking in this tax season, potentially providing bigger refunds to millions, the AARP says.

03/16/2026

Stocks logged a third-straight down week as investors digested the latest news out of the Middle East, navigated more volatility, and mulled the latest economic data. The Standard & Poor’s 500 Index declined 1.60 percent, while the...

03/14/2026

Whether you are already retired or just starting to prepare, take a look at your home. Is rightsizing the right decision?

What does your home really cost?

03/11/2026

A potential leadership change is underway at the Federal Reserve.



Kevin Warsh, a former Federal Reserve governor, has been nominated to serve as the next chair of the central bank. If confirmed by the Senate, he would succeed Jerome Powell, the current chair, and serve a four-year term.



The Federal Reserve chair plays an important role in shaping U.S. monetary policy, including decisions related to interest rates, inflation management, and overall economic conditions.



Leadership transitions at the central bank often draw attention from markets and economists alike, as policy direction can influence borrowing costs, investment activity, and broader economic expectations.

Sen. Thom Tillis has said he would block Kevin Warsh's nomination until a federal criminal investigation of Fed Chair Jerome Powell is dropped

03/09/2026

Stocks fell last week as investors assessed the implications of a fresh Middle East conflict while digesting mixed reports on the jobs market.The Standard & Poor’s 500 Index fell 2.02 percent, while the Nasdaq Composite Index slid 1.24...

03/09/2026

Some lawmakers are exploring changes to capital gains taxes on home sales to address the ongoing housing shortage.



Currently, homeowners can exclude up to $250,000 in profits for single filers and $500,000 for married couples filing jointly when selling a primary residence. These limits have remained unchanged since 1997.



However, rising home values mean more sellers may now exceed those thresholds. Estimates suggest that about 8 million households—roughly 10 percent—could exceed the $500,000 exemption for married couples.



Supporters of potential changes argue that adjusting the rules could encourage long-time homeowners with significant equity to sell, potentially increasing housing supply. Others question whether tax adjustments alone would meaningfully address affordability challenges.



As housing policy discussions continue, proposals like these highlight the complex relationship between tax policy, housing supply, and market dynamics.

Some lawmakers want to reduce or eliminate capital gains on home sales. Here's how that could impact housing affordability.

03/07/2026

What should you look for in a personal finance app?

An increasing number have been developed to help individuals with their personal finances.

03/06/2026

If you live in California - remember this Saturday night...

03/05/2026

You might be paying more in taxes than you need to—and not even realize it.

From investment timing to account selection, small decisions can have a big impact on your total tax bill. Here are five areas to keep in mind this tax season.

03/05/2026

Stocks were mixed in February as AI disruption concerns and escalating geopolitical tensions weighed on investor sentiment. The S&P 500 slipped 0.87% and the Nasdaq fell 3.38%, while the Dow edged up 0.17%. Canada’s S&P/TSX advanced 7.57%. As attention turns to the Fed’s March meeting and its updated Summary of Economic Projections, markets will be watching closely for signals on the path ahead. From 73% of the world’s maple syrup produced in Canada to a \$1.64 billion global market, this month’s by-the-numbers highlights the industry behind one of North America’s most iconic products.

U.S. stocks struggled in February amid fears that artificial intelligence would disrupt a wide swath of industries, unsettling investors. Late in the month, geopolitical concerns weighed on the market amid tensions in the Middle East.

03/04/2026

Consumer confidence edged up in February, according to new data from The Conference Board.

The confidence index rose 2.2 points to 91.2, reflecting a more optimistic view of the labor market. A higher share of respondents said jobs are “plentiful” versus “hard to get,” following January hiring gains of 130,000 positions.

Short-term expectations for income, business conditions, and employment also improved, though they remain below the level that historically signals stronger economic momentum.

At the same time, price concerns persist. Survey responses showed continued unease about inflation and elevated household costs, even as perceptions of hiring conditions improved modestly.

Spending intentions for larger purchases increased, particularly for used vehicles, furniture, TVs, and smartphones, while housing demand expectations were mostly unchanged.

Consumers' perceptions of employment conditions improved slightly in February, helping bolster overall confidence in the economy.

03/03/2026

Did you know that Fed Chair Nominee Kevin Warsh was a member of the Federal Reserve Board of Governors from 2006 to 2011—a period marked by the Global Financial Crisis? His Senate confirmation process will start soon, so it’s time to start to recognize the name!