Cornerstone Financial Advisory

NOVEMBER 6, 2023

There’s no better time to check your withholding status and make sure your paycheck accurately reflects the taxes you should be paying. These expenses can also impact your tax liability. This information is not intended to substitute for specific individualized tax advice. a Registered Investment Advisor.

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Marketing Marketing Taxes Economics 102

Cornerstone Financial Advisory

APRIL 22, 2024

This Week: Companies Reporting Earnings Monday: Verizon Communications Inc. (VZ) ” – Larry Niven Can You Claim The Child Tax Credit For Other Dependents? Even if you cannot claim the child tax credit, you may be able to claim the credit for other dependents under your care. The forecasts also are subject to revision.

Marketing 52

Marketing Marketing Taxes Economics 52

Cornerstone Financial Advisory

MARCH 18, 2024

1,2 Following Tuesday, caution lingered as investors parsed the underlying data behind headline consumer inflation numbers. You must include all capital gains in your income, and you may be subject to the Net Investment Income Tax if your income is above certain amounts. Consult a qualified tax expert for help.

Marketing 91

Marketing Marketing Taxes Economics 91

Cornerstone Financial Advisory

OCTOBER 2, 2023

However, beneath the headline number, consumer spending was cut to a 0.8 ” –John Steinbeck Who Can Deduct Car Expenses On Their Tax Returns? Can you deduct expenses such as gas, depreciation, and lease payments on your tax returns? This information is not intended to substitute for specific individualized tax advice.

Marketing 94

Marketing Marketing Taxes Economics 94

Cornerstone Financial Advisory

FEBRUARY 5, 2024

” – Jim Rohn Vacation Home Rentals If you receive money for the use of your primary residence, you may have to report this rental income on your tax return; this means that the “vacation home rental” classification can apply to your home, even if you don’t own multiple short-term rental properties.

Marketing 82

Marketing Marketing Taxes Economics 82

Cornerstone Financial Advisory

DECEMBER 18, 2023

A solid retail sales number, which reflected a strong consumer and supported the soft landing thesis, also boosted enthusiasm. ” – Charles Schulz Tax Benefit And Credits: FAQs For Retirees Lots of questions can come up about income taxes after one has retired. a Registered Investment Advisor.

Marketing 97

Marketing Marketing Taxes Economics 97

Cornerstone Financial Advisory

OCTOBER 30, 2023

2) The regular method allows you to specifically calculate the actual expenses like rent, mortgage interest, taxes, repairs, depreciation, and utilities you pay for the portion of your home used for the business. This information is not intended to substitute for specific individualized tax advice. a Registered Investment Advisor.

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Marketing Marketing Economics Taxes 100

Cornerstone Financial Advisory

SEPTEMBER 5, 2023

4,5 Finally, the government’s monthly employment report showed the number of nonfarm payroll gains continued to decelerate in August, while June and July estimates were revised lower by 110,000. ” – Aristotle Protect Your Tax Data Protecting your data is very important in today’s digital age.

Marketing 88

Marketing Marketing Economics Taxes 88

Cornerstone Financial Advisory

NOVEMBER 27, 2023

There are some important tax tips to know to set yourself up for success. Here are some tips that the IRS shares for new business owners: Choose the right business structure: The form of business determines which income tax return a business taxpayer needs to file. a Registered Investment Advisor.

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Marketing Marketing Taxes Economics 86

Cornerstone Financial Advisory

NOVEMBER 20, 2023

1,2,3 Stocks March Higher A better-than-anticipated consumer inflation number on Tuesday sent bond yields sharply lower, igniting a powerful, exceptionally broad-based rally that saw 91% of all New York Stock Exchange volume advancing in price and a similarly substantial advance (85%) on the NASDAQ. .” a Registered Investment Advisor.

Marketing 95

Marketing Marketing Taxes Economics 95

Cornerstone Financial Advisory

APRIL 1, 2024

.” – George Washington IRS Offers Free Tax Prep Option For Military Personnel Each year, the Internal Revenue Service takes a moment to remind active duty military personnel that the “IRS Free File” offers them multiple choices for free federal tax preparation. a Registered Investment Advisor.

Marketing 52

Marketing Marketing Economics Taxes 52

Cornerstone Financial Advisory

APRIL 10, 2023

Stocks trended lower again after a lower-than-expected open-jobs number and a slowdown in private-sector hiring. This information is not intended to substitute for specific individualized tax advice. We suggest you discuss your specific tax issues with a qualified tax professional. days in the garlic group.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

AUGUST 28, 2023

Here’s a tip that the Internal Revenue Service shares for new business owners: Choose an appropriate business structure: The form of business determines which income tax return a business taxpayer needs to file. This information is not intended to substitute for specific individualized tax advice. a Registered Investment Advisor.

Marketing 52

Marketing Marketing Economics Taxes 52

Cornerstone Financial Advisory

JANUARY 17, 2023

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. According to the IRS, most charitable contributions are deductible as an itemized deduction when you file your taxes, including cash and property contributions.

Marketing 59

Marketing Marketing Taxes Investment Advisor 59

Cornerstone Financial Advisory

APRIL 17, 2023

After reports of a more pronounced slowdown in producer prices on Thursday, stocks surged higher, with technology and communication services companies leading the charge. A weak retail sales number on Friday shaved the gains to close out the week. This information is not intended to substitute for specific individualized tax advice.

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Marketing Marketing Medical Economics 59

Cornerstone Financial Advisory

MAY 22, 2023

This Week: Companies Reporting Earnings Monday: Zoom Video Communications, Inc. (ZM) 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. We suggest you discuss your specific tax issues with a qualified tax professional.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

MAY 30, 2023

.” – Mariah Carey Be On Alert For IRS Scams The Internal Revenue Service is on a constant lookout for tax-related scams. Demand that you immediately pay your taxes over the phone. Take a debit or credit card number over the phone. This information is not intended to substitute for specific individualized tax advice.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

JULY 11, 2022

Employers added 372,000 jobs in June, a number that was above economists’ estimates of 250,000. The Small Business Health Care Tax Credit. In an effort to extend health care benefits to more people, the IRS introduced the small business healthcare tax credit. 35% of premiums paid for small tax-exempt employers.

Marketing 52

Marketing Marketing Taxes Economics 52

Cornerstone Financial Advisory

FEBRUARY 20, 2023

The year-over-year inflation number (6.4%) came in lower than December’s 12-month rise of 6.5%, making it the seventh consecutive month of declining year-over-year inflation. Year-over year, producer prices rose 6.0%, a slight improvement from December’s number. Yet some tax benefits reward the philanthropic.

Marketing 59

Marketing Marketing Taxes Distribution 59

Cornerstone Financial Advisory

NOVEMBER 21, 2022

DELL), Zoom Video Communications, Inc. (ZM). If you hire an independent contractor for your business, you are generally not responsible for withholding income taxes, Social Security, or Medicare taxes from their compensation. This information is not intended to be a substitute for specific individualized tax advice.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

JANUARY 30, 2023

It was corporate results and continued labor market strength, along with a solid, if weakening, fourth-quarter Gross Domestic Product (GDP) growth number, however, that raised investors’ hopes that a potential recession may be mild and likely pushed out to later in the year. GDP Report The U.S. economy expanded at a 2.9% growth rate.

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Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

FEBRUARY 13, 2023

The concern was that the surprise job number would change Powell’s outlook coming out of the last FOMC meeting. ” – Sandy Fries The Two Types Of IRS Volunteer Programs Every year, IRS-certified volunteers help people file their tax returns accurately. The information in this material is not intended as tax or legal advice.

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Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

JANUARY 9, 2023

However, stocks staged a powerful rally on Friday despite another strong job number, partly due to a deceleration in wage growth. The Fed has communicated that it’s looking for weakening in the labor market before it can feel confident higher rates are working to slow inflation. . a Registered Investment Advisor.

Marketing 59

Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

MAY 8, 2023

” – Charlotte Brontë Need Last Year’s Tax Returns? Help is available for taxpayers who need tax information for prior years but who did not keep copies of their returns. This is often the easiest way to get a copy of your tax returns. Order a tax transcript. There are ways to get the information you need.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

AUGUST 22, 2022

Despite the week’s losses, stocks exhibited resiliency in the face of a string of troubling economic news that included flat retail sales, weak housing numbers, an inversion in the yield curve, and tepid economic data out of China. PANW), Zoom Video Communications, Inc. (ZM). The IRS has a question about their tax return.

Marketing 59

Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

JANUARY 23, 2023

5,6 Many economists viewed these lackluster numbers as evidence of a weakening consumer. This Week: Companies Reporting Earnings Tuesday: Microsoft Corporation (MSFT), General Electric Company (GE), Verizon Communications, Inc. (VZ), This information is not intended to be a substitute for specific individualized tax advice.

Marketing 59

Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

NOVEMBER 14, 2022

A cooling inflation number ignited a powerful rally on Thursday, sending stocks to strong gains for the week. Both numbers were below market expectations of 0.6% A look behind the numbers shows that October’s 7.7% This information is not intended to be a substitute for specific individualized tax advice. from a year ago.

Marketing 59

Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

JULY 3, 2023

” – Pablo Neruda Can You Claim The Child Tax Credit For Other Dependents? Even though you may not be able to claim the child tax credit, you may be able to claim the credit for other dependents under your care. These conditions include: Dependents who are age 17 or older on December 31 of the tax year.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

DECEMBER 12, 2022

But stock prices were under pressure Friday following a disappointing Producer Price Index (PPI) number. Though the PPI number dented the optimism around cooling inflation, November’s PPI report represented an improvement from its 11.7% This information is not intended to be a substitute for specific individualized tax advice.

Marketing 59

Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

MAY 1, 2023

annualized growth rate as healthy consumer spending helped offset a decline in business investment and a slowdown in nonresidential investment. The business inventory investment slowdown reduced the headline GDP number by 2.26%. Earned Income Tax Credit You may include nontaxable combat pay in your taxable income.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

JUNE 19, 2023

year-over-year (the lowest 12-month number in two years), and producer prices increased 1.1% If your total net capital loss is more than the limit you can deduct, you may be able to carry it over to next year’s tax return. This information is not intended to substitute for specific individualized tax advice. from a year ago.

Marketing 59

Marketing Marketing Economics Taxes 59

Cornerstone Financial Advisory

MARCH 6, 2023

1,2,3 Stocks Resume Climb After rebounding to start the week, stocks weakened following higher inflation numbers out of Europe and higher-than-expected manufacturing activity. ” – Steve Jobs Outstanding Tax Bill? This information is not intended to be a substitute for specific individualized tax advice.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

SEPTEMBER 19, 2022

Instead, the elevated inflation number not only undercut those easing hopes but raised the possibility of a more significant rate hike. That number was well above the 5.9% How to Find Tax Help in Other Languages. The IRS currently translates important and helpful tax information in seven languages, including: Spanish.

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Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

DECEMBER 5, 2022

And Job Numbers Cheer Markets. Here are some quick facts about both of them: A traditional IRA is a tax-advantaged personal savings plan where contributions may be tax deductible. Generally, the money in a traditional IRA isn’t taxed until it’s withdrawn. Qualified distributions to a Roth IRA are tax-free.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

OCTOBER 17, 2022

An above-consensus consumer inflation number sent stocks tumbling in early Thursday trading before inexplicably surging higher in a stunning reversal that saw the Dow Jones Industrial Average rally 1,500 points from its intraday low. (UAL), Friday: Verizon Communications, Inc. (VZ), a Registered Investment Advisor.

Marketing 52

Marketing Marketing Taxes Economics 52

Cornerstone Financial Advisory

AUGUST 15, 2022

Bureau of Labor Statistics released a better-than-expected Consumer Price Index (CPI) number, with buying momentum building throughout the trading session. The IRS has a handy tool called the IRS Tax Withholding Estimator that can help taxpayers better understand their withholding. Claiming credits such as the child tax credit.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

NOVEMBER 28, 2022

Backup withholding is when a taxpayer must withhold at the current rate of 24%, which is taken from any future payments, to ensure that the IRS receives the tax due on this income. This information is not intended to be a substitute for specific individualized tax advice. a Registered Investment Advisor.

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Marketing Marketing Economics Taxes 59