Cornerstone Financial Advisory

OCTOBER 9, 2023

The Internal Revenue Service (IRS) has a handy tool called the Tax Withholding Estimator, which can help you manage having too much or too little tax withheld from your wages. This information is not intended to substitute for specific individualized tax advice. a Registered Investment Advisor.

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Cornerstone Financial Advisory

AUGUST 7, 2023

Markets were rattled initially by news that the Treasury raised its borrowing requirement for the third quarter by more than a quarter of a trillion dollars and on news that the Bank of Japan announced it would allow bond yields to rise after years of capping them. The information in this material is not intended as tax or legal advice.

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Cornerstone Financial Advisory

JULY 3, 2023

Weekly Market Insights: Economy Continues Upward Trend Presented by Cornerstone Financial Advisory, LLC Stocks posted gains for the week to close out a stellar month, aided by positive economic data and reports that all major banks had passed the Federal Reserve’s annual stress test. The Nasdaq Composite index added 2.19%.

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Cornerstone Financial Advisory

APRIL 3, 2023

Banking Crisis Fears Dim; Markets Rally Presented by Cornerstone Financial Advisory, LLC Stocks rallied last week on receding fears of a widening banking crisis, led by resurging investor interest in technology and communication services names. This information is not intended to substitute for specific individualized tax advice.

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Cornerstone Financial Advisory

MAY 8, 2023

1,2,3 Stocks See-Saw Renewed regional bank concerns weighed on investor sentiment last week, despite the rescue of a troubled bank before the start of the trading week. But worries were not isolated to regional banks. ” – Charlotte Brontë Need Last Year’s Tax Returns? Order a tax transcript.

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Cornerstone Financial Advisory

AUGUST 14, 2023

1,2,3 Tech Weighs On Stocks Stocks struggled last week, beginning on a strong note ahead of key inflation data and selling off mid-week in response to a downgrade of the banking sector by credit rating agency Moody’s and news of a steep drop in China’s exports. We suggest you discuss your specific tax issues with a qualified tax professional.

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Cornerstone Financial Advisory

MARCH 13, 2023

Stocks also were rattled when a west coast bank was placed into receivership on Friday following a run on deposits. The lower move was triggered by a specialty bank’s liquidity issues, though regional and money center banks could not escape the selling. The Nasdaq Composite index fell 4.71% for the week.

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Cornerstone Financial Advisory

OCTOBER 31, 2022

Did you know that the IRS has an app that makes it easy to check some things off your tax to-do list? Free File is a tax prep software for taxpayers whose 2021 total adjusted gross income was $73,000 or less. Find payment options, including IRS Direct Pay which allows you to pay tax bills directly from your bank account.

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Cornerstone Financial Advisory

JULY 24, 2023

1,2,3 Earnings In Focus Entering its first big week of the second quarter earnings season, solid reports from the nation’s big banks rewarded investor optimism, sparking a rally that continued into mid-week. When sold, investments may be worth more or less than their original cost. a Registered Investment Advisor.

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Cornerstone Financial Advisory

APRIL 17, 2023

This Week: Companies Reporting Earnings Monday: The Charles Schwab Corporation (SCHW), M&T Bank Corporation (MTB). NFLX), Bank of America Corporation (BAC), Johnson & Johnson (JNJ), Lockheed Martin Corporation (LMT), The Goldman Sachs Group, Inc. (GS). The information in this material is not intended as tax or legal advice.

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Cornerstone Financial Advisory

MAY 1, 2023

Stocks Rally As Attention Shifts To Fed’s May Meeting Presented by Cornerstone Financial Advisory, LLC Strong earnings from several mega-cap technology companies offset renewed regional banking jitters and weak economic data, leaving stocks higher for the week. The Nasdaq Composite index rose 1.28% for the week. Armed Forces.

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Cornerstone Financial Advisory

SEPTEMBER 26, 2022

Global central banks moved in tandem with the Fed, as the Bank of England, Swiss National Bank, and Norway’s Norges Bank, among others, also hiked rates. Tax-Deductible Educator Expenses. This information is not intended to be a substitute for specific individualized tax advice. Another Rate Hike.

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Cornerstone Financial Advisory

OCTOBER 3, 2022

During the previous week, the Bank of England (BOE) raised interest rates, and its prime minister announced unfunded tax cuts that the markets interpreted as inflationary. The Bank Of England Acts. With Shared Custody, Taxes Can Get Complicated. It may help if you research the Child Tax Credit as well.

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Cornerstone Financial Advisory

JANUARY 17, 2023

Stocks extended their gains to end the week as a few money center banks kicked off a new earnings season with upbeat reports. Tax Benefits For Charitable Giving. Giving back to others feels good and is a great way to support your community and those in need, but it also has tax advantages. Inflation’s Cooling Trend.

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Cornerstone Financial Advisory

AUGUST 28, 2023

1,2,3 Stocks Manage Gains Stock rallied on Monday on upbeat sentiment over the earnings release from a mega-cap semiconductor company scheduled for mid-week, only to see that momentum fizzle the following day on weak retail earnings and a credit downgrade of a handful of banks. a Registered Investment Advisor.

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Cornerstone Financial Advisory

JULY 17, 2023

Despite some positive earnings surprises from several big banks and a major healthcare provider, stocks closed out a good week with a slight decline. In this case, a cash payment includes US or foreign currency and can also include cashier’s checks, bank drafts, traveler’s checks, or money orders. PNC), Prologis, Inc.

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Cornerstone Financial Advisory

AUGUST 21, 2023

banks by Fitch, a credit-rating agency. There’s no better time than the present to check your withholding status and make sure your paycheck accurately reflects the taxes you should be paying. You can also adjust your withholding status if you want to change how much tax you withhold due to other circumstances.

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Cornerstone Financial Advisory

JUNE 12, 2023

Amid little news, stocks drifted lower to start the week until Wednesday, when a solid early-day rally evaporated on news of the Bank of Canada’s surprise interest rate hike. State and local income tax refunds may be taxable and should be reported on your federal taxes. State taxes may apply to inheritances.)

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Cornerstone Financial Advisory

MAY 22, 2023

Aiding the market’s upbeat mood was a positive update on deposit growth at a troubled regional bank. Here’s How It May Affect Your Taxes Taxpayers who work in the gig economy may benefit from having a better understanding of how their work affects their taxes. ” – John Steinbeck Taking A Side Gig?

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Cornerstone Financial Advisory

JANUARY 3, 2023

What Is The Premium Tax Credit? The premium tax credit (PTC) is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. Not filing a tax return using the filing status Married Filing Separately. ” – Adam Smith.

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Cornerstone Financial Advisory

JUNE 21, 2022

Stocks resumed their slide on Thursday as global central banks followed with their own rate hikes. While the IRS website might not be in your top bookmarks, the website is helpful for a lot of things regarding taxes. Use the IRS e-file system: a safe, easy, and common way to file your tax return. a Registered Investment Advisor.

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Cornerstone Financial Advisory

SEPTEMBER 12, 2022

Stocks added to their gains on Thursday as the market digested another speech from Fed Chair Powell and a 0.75% hike by the European Central Bank. How Tax Transcripts Can Help You File an Accurate Tax Return. They suggest making an online account to see estimated tax payments, prior year adjusted gross income, and more.

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Cornerstone Financial Advisory

JANUARY 9, 2023

Friday: Bank of America Corporation (BAC), JPMorgan Chase & Co. An Offer in Compromise is an agreement between a taxpayer and the IRS that settles a tax debt for less than the total amount owed; this is a genuine service offered by the IRS. This information is not intended to be a substitute for specific individualized tax advice.

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Cornerstone Financial Advisory

AUGUST 29, 2022

Thursday’s rally also got a boost from regional Federal Reserve Bank presidents, who suggested future rate hikes may be in line with market expectations. How to Check the Status of Your Federal Tax Refund. Filing taxes has become more seamless in recent years due to e-filing. a Registered Investment Advisor.

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Cornerstone Financial Advisory

OCTOBER 17, 2022

Monday: Bank of America Corporation (BAC), The Charles Schwab Corporation (SCHW). Correctly classifying your workers is essential to avoid issues with taxes or liability. This information is not intended to be a substitute for specific individualized tax advice. a Registered Investment Advisor. Hiking In Fall.

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The Big Picture

FEBRUARY 6, 2024

You wouldn’t be surprised to learn the tax consequences of owning a mutual fund is a part of it. Tremendous track record, unusual background comes from computer science and software and, and pivoted into quantitative investing. My mental image was that he worked in the bank of, back of a bank approving mortgage applications.

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Cornerstone Financial Advisory

JULY 18, 2022

Monday: Bank of America (BAC), International Business Machines (IBM), The Goldman Sachs Group (GS), The Charles Schwab Corporation (SCHW). This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

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ClearMoney

DECEMBER 5, 2021

The UK Financial Conduct Authority cited a number of concerns as it prohibited the sale of “cryptoasset” investment products to retail investors last year. UNITED STATES: Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission.

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Cornerstone Financial Advisory

JANUARY 16, 2024

On Friday, the start of earnings season brought mixed results from a handful of major banks. Bancorp (USB), Alcoa (AA) Thursday: M&T Bank Corporation (MTB), Northern Trust Corporation (NTRS) Friday: Schlumberger Limited (SLB), The Travelers Companies, Inc. 1,2,3,4,5 Source: YCharts.com, January 13, 2024.

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Cornerstone Financial Advisory

FEBRUARY 12, 2024

Create Digital Copies Of Important Documents: Most financial organizations, such as banks and insurance companies, provide digital copies of bank statements, tax returns, and insurance policies anyway, and keeping all these digital copies saved and organized is an excellent practice to get into. a Registered Investment Advisor.

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ClearMoney

NOVEMBER 4, 2021

Momentum-focused strategies are banking on the sheer size of the premium outweighing the costs of that turnover. Exhibit 4 shows marked inconsistency in valuation characteristics for the three largest US equity momentum funds during the value premium rally of late 2020 through early 2021. Please read the prospectus before investing.

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Cornerstone Financial Advisory

MAY 6, 2024

or foreign currency and can also include cashier’s checks, bank drafts, traveler’s checks, or money orders. This information is not intended to be a substitute for specific, individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.

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Cornerstone Financial Advisory

JANUARY 22, 2024

The four-day trading week began with more Q4 bank earnings, which disappointed. The yield on the 10-year Treasury climbed after a Fed Governor said the central bank may adjust rates as much as markets expect. You can also choose not to claim exclusion, in which case you must report the gain on your tax return.

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Brown Advisory

JULY 1, 2015

Rising rates also have a direct, negative impact on bond prices, and they tend to constrain stock valuations. It’s not clear yet exactly how she intends to put her own stamp on the central bank. That makes U.S. exports less competitive and reduces the profits of U.S. companies denominated in foreign currencies. SOURCE: BLOOMBERG.

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Cornerstone Financial Advisory

APRIL 24, 2023

Poor earnings results hit communication services stocks and regional banks, while margin pressures put pressure on auto stock valuations. ” – Queen Elizabeth II Tax Benefit And Credits: FAQs For Retirees Lots of questions can come up about income taxes after retirement. Why is my pension taxed?

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Cornerstone Financial Advisory

MAY 15, 2023

Attention Turns To The Debt Ceiling Presented by Cornerstone Financial Advisory, LLC Stocks were mixed last week as good inflation news was offset by mounting debt ceiling concerns and rekindled regional banking fears. Married filing jointly: If a taxpayer is married, they can file a joint tax return with their spouse.

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Cornerstone Financial Advisory

SEPTEMBER 18, 2023

On Thursday, investors welcomed the European Central Bank, signaling its rate-hiking campaign may be nearing its conclusion and a successful IPO that revived optimism in the capital markets. This information is not intended to substitute for specific individualized tax advice.

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