For most of the first half of the year, mega capitalization tech stocks pulled the overall averages much higher than most equities. This reflects the market weighted impact of these mega capitalization equities.

The third quarter of the year lived up to its historic reputation of being a difficult three-month period. The S&P 500 declined 3.2% in the quarter and 4.9% on an equal-weighted basis.

A mere 12 months ago, the outlook for the stock market seemed bleak. Inflation was soaring, consumer defaults were on the rise, and prominent business leaders were sounding alarms about an impending recession.

As tax season ramps up, Bethany Thompson, Certified Tax Specialist™, put together a list of some of our most asked tax questions. As always, please consult your tax advisor, as FCA and its affiliates are not tax or legal advisors.