Page 26 - Boca Club News - March '24

Page 26, Boca Club News

Nature & Pets

You and Your Pet…Understanding Canine

Osteoarthritis: Symptoms, Treatments and

Management with Spotlight on Librela

By Dr. Sookhoo DVM, Calusa Veterinary Center, 6900 side effects reported have been urinary tract infections, skin 5. Surgery: In severe cases there are surgical intervention
Congress Avenue, Boca Raton, FL 33487 (561) 999-3000. infections (bacterial), dermatitis and increased blood urea options such as joint replacement or arthroscopy.
www.CVCBocacom nitrogen (BUN). Canine osteoarthritis is a common condition that
Dogs are cherished members of our families, offering 3. Physical therapy: Therapeutic exercise, massages, affects dogs of all ages and breeds, significantly impacting
unconditional love and companionship. However, as they age hydrotherapy, and acupuncture can help with joint mobility mobility and quality of life. Being able to recognize the
many dogs experience health issues, including osteoarthritis, and muscle strength. symptoms, seeking immediate veterinary care, and by
a common condition that affects their joints. Osteoarthritis 4. Dietary Supplements: Omega-3 fatty acids and creating a comprehensive treatment plan dog parents
can significantly impact a dog’s quality of life and requires antioxidants may help with anti-inflammatory benefits and can help with their pet’s pain and improve their overall
proactive management and treatment. support joint health. well-being.
Osteoarthritis, often referred to as degenerative joint
disease, is a progressive condition characterized by the
deterioration of joint cartilage and the underlying bone.
In dogs it commonly affects weight-bearing joints such as
the hips, elbows, knees and spine. While osteoarthritis can
develop due to factors such as genetics or joint abnormalities,
it most frequently arises from wear and tear on the joints over
time. Minimizing Taxes of Highly Appreciated Assets
Recognizing the signs of osteoarthritis in dogs is important
for early intervention and management. Common symptoms Introduction
include: If the value of your stocks, bonds, or other capital investments has increased substantially, there are a few steps you can take to
1. Limping or favoring certain limbs: Dogs with minimize taxation. These include timing the sale of your capital assets, using capital losses effectively, and passing assets to heirs at your
osteoarthritis may exhibit lameness or difficulty bearing death. In addition, you might consider charitable giving.
weight on affected limbs.
2. Stiffness and reluctance to move: Arthritic dogs may be Timing the sale of assets is important
hesitant to engage in physical activities they once enjoyed, Generally, you can choose when to sell your investments, potentially shifting taxes owed. Therefore, if your capital assets have
such as running or playing fetch. appreciated substantially, you can control when you recognize the profit (capital gain) on these investments. If you are in a high tax
3. Decreased activity levels: A noticeable decrease in bracket, you may want to hold on to your highly appreciated investments for longer than 12 months in order to get favorable long-
energy or reluctance to participate in exercise can be a sign term capital gains tax treatment. Long-term capital gains are generally taxed at special capital gains tax rates of 0%, 15%, and 20%
depending on your taxable income. By contrast, because short-term capital gains are taxed as ordinary income, the top short-term
of joint discomfort. capital gains tax rate can be 37%. Higher-income taxpayers should be aware that they may be subject to an additional 3.8% Medicare
4. Visible signs of pain: Dogs may display signs of unearned income tax on net investment income (unearned income includes capital gains) if their adjusted gross income exceeds
discomfort, such as whimpering, panting or licking at affected $200,000 (single filers) or $250,000 (married joint filers). As you can see, a little patience can pay off handsomely.
joints. Moreover, if you expect to have substantial tax deductions in a particular year, it may be wise to wait until that year to sell, so
5. Changes in behavior: Some dogs may be more irritable that the resulting gain can be offset.
or withdrawn due to chronic pain with osteoarthritis.
Dogs are masters at masking pain, so subtle changes in Using capital losses effectively
behavior or activity level should not be overlooked. You can minimize taxation of your capital gain income by using capital losses effectively. More specifically, you can generate capital
Diagnosing osteoarthritis in dogs involves a combination losses to offset capital gains, and you can use your capital gain income to utilize unused losses. Capital losses must be netted against
of physical examination, medical history review, and capital gains in a specific manner. Excess losses may offset up to $3,000 ($1,500 if married filing separately) of ordinary income per year.
diagnostic imaging such as radiographs (X-rays) or joint Losses remaining after the limit may be carried forward indefinitely to offset future income.
Planning with capital losses can be an important method of minimizing taxes on highly appreciated assets. If you expect to recognize

fluid analysis. Once diagnosed, the goal of treatment is to a substantial capital gain this year, you should review your portfolio to make use of any capital losses you may have.
alleviate pain, improve joint function and slow the disease
progression. Is it better to gift highly appreciated assets during your lifetime or to pass them to others at death?
Treatment for osteoarthritis includes: Property that has already appreciated substantially may not be the best candidate for a lifetime transfer or gift. That is because the
1. Weight management: Having a healthy weight decreases recipient of a gift takes a carryover basis in the property; that is, the recipient's basis in the property is the same as your basis was. In contrast,
the stress on the joints and can help alleviate symptoms. the basis of property passed at your death is generally stepped up (or down) to its fair market value (FMV) at the time of your death.
2. Medications: Non-steroidal anti-inflammatory You may not want to give highly appreciated property if the donee will recognize a substantial capital gain when the property is sold.
drugs (NSAIDs), pain relievers, and joint supplements On the other hand, you may want to make that gift if the sale of the property is imminent anyway and the donee is in a lower tax bracket.
containing glucosamine and chondroitin sulfate, as well as You (the donor) may increase the basis of appreciated property by the portion of any federal gift and generation-skipping transfer taxes
eggshell membrane are commonly used to manage pain and you pay that are attributable to the appreciation element. Since the donee takes a carryover basis, the capital gain recognized by the donee
inflammation. There is also a new injection called Librela will be less than it would have been without the adjustment. You cannot increase the basis of the property any higher than the property's fair
market value on the date of the gift.
labelled for osteoarthritis that is available for osteoarthritic Remember, you can currently make federal tax-free gifts of $15,000 per recipient under the annual gift tax exclusion. If you exceed this
pain. Librela by Zoetis is a once-a-month injection for amount, you may owe gift tax, however, gift tax owed may be offset by your applicable exclusion amount to the extent that is available.
controlling osteoarthritic pain by targeting nerve growth
factor. Librela was approved by the FDA in January of 2022. Gifting highly appreciated assets to charity
However, it has been used in Europe for more than two When you donate stock or other intangible long-term capital gain property to a qualified public charity, you can deduct the full FMV
years with good results. Librela provides an alternative to of the property to the extent that it does not exceed 30 percent of your adjusted gross income. Any amount that cannot be deducted in the
using NSAIDs as a choice for control of osteoarthritic pain. current year can be carried over and deducted for up to five succeeding years. You benefit in two ways: (1) you get a tax deduction, and
Librela has only been evaluated in dogs with osteoarthritis of (2) you remove interest, dividends, and/or capital gains from your investment portfolio. If you wish to donate highly appreciated assets
the limb joints and not of the spine. It should not be used in to charity, however, it is important to apprise yourself of all relevant rules. Also, certain types of property may be more advantageous to
breeding or pregnant and lactating dogs. The most common donate to charity than others.
This information, developed by an independent third party, has been obtained from sources considered to be reliable, but Raymond James Financial Services, Inc. does not guarantee that the foregoing
material is accurate or complete. This information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. The
information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This information is not intended as a solicitation
or an offer to buy or sell any security referred to herein. Investments mentioned may not be suitable for all investors. The material is general in nature. Past performance may not be indicative of future
results. Raymond James Financial Services, Inc. does not provide advice on tax, legal or mortgage issues. These matters should be discussed with the appropriate professional. Securities offered through
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Raymond James Financial Services

Arthur Rottenstein

Registered Securities Principal

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Boca Raton, FL 33431
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Arthur.Rottenstein@RaymondJames.com
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