Cornerstone Financial Advisory

OCTOBER 2, 2023

” –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. The information in this material is not intended as tax or legal advice.

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Marketing Marketing Taxes Economics 111

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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Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

FEBRUARY 19, 2024

Here’s How It May Affect Your Taxes Taxpayers who work in the gig economy may benefit from a better understanding of how their work affects their taxes. Taxpayers who work in the gig economy may benefit from a better understanding of how their work affects their taxes. a Registered Investment Advisor.

Marketing 105

Marketing Marketing Taxes Economics 105

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.

Marketing 105

Marketing Marketing Economics Taxes 105

Cornerstone Financial Advisory

JULY 10, 2023

” – Maya Angelou IRS Program Helps Seniors Prepare Taxes The Internal Revenue Service (IRS) has a tool called Free File, which offers online tax preparation, direct deposit of refunds, and electronic filing choices. Free File has a majority of the most common forms needed when filing your taxes.

Marketing 105

Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

JANUARY 2, 2024

” – Bertrand Russell Need Last Year’s Tax Returns? Help is available for taxpayers who need tax information for prior years but still need to keep copies of their returns. This is often the easiest way to get a copy of your tax returns. Order a tax transcript. “To conquer fear is the beginning of wisdom.”

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Taxes Numbers Investment Advisor Investing 104

Cornerstone Financial Advisory

DECEMBER 18, 2023

” – Charles Schulz Tax Benefit And Credits: FAQs For Retirees Lots of questions can come up about income taxes after one has retired. 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.

Marketing 105

Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

SEPTEMBER 5, 2023

” – Aristotle Protect Your Tax Data Protecting your data is very important in today’s digital age. The Internal Revenue Service shared guidelines tax pros should follow to protect taxpayer data. This information is not intended to substitute for specific individualized tax advice. a Registered Investment Advisor.

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Marketing Marketing Economics Food 105

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.

Marketing 105

Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

JANUARY 29, 2024

” – Albert Einstein Couples Who Work Together, Tax Together As more households decide to start a business, many couples learn about the tax responsibilities related to such businesses. These relationships involve different tax situations. We suggest you discuss your specific tax issues with a qualified tax professional.

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Marketing Marketing Economics Taxes 105

Cornerstone Financial Advisory

OCTOBER 16, 2023

Here are the ten fundamental rights you have as a taxpayer when interacting with the IRS: The right to be informed: As a taxpayer, you have the right to know what is required to comply with tax laws. The right to pay no more than the correct amount of tax: You only pay what is legally due, including interest and penalties.

Marketing 105

Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

AUGUST 1, 2022

Don’t Forget to Take Advantage of the Work Opportunity Tax Credit. The work opportunity tax credit is a federal tax credit for business owners that have hired individuals from target groups that would have otherwise faced significant barriers when looking for a job. a Registered Investment Advisor.

Marketing 104

Marketing Marketing Taxes Economics 104

Ballast Advisors

JUNE 18, 2024

Join us as we delve into the tax strategy, legal documentation, and insurance coverage considerations needed to successfully balance the ownership of multiple residences for snowbirds. When it comes to tax considerations for snowbirds, there are several factors to keep in mind.

Insurance Coverage 52

Insurance Coverage Insurance Taxes Financial Planning 52

Cornerstone Financial Advisory

MARCH 18, 2024

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. The IRS allows you to deduct capital losses on the sale of investment property. a Registered Investment Advisor.

Marketing 105

Marketing Marketing Taxes Economics 105

Ballast Advisors

NOVEMBER 21, 2022

What are appropriate checklists for year-end tax planning? Tax planners often develop checklists to guide taxpayers toward year-end strategies that might help reduce taxes. Certain tax benefits may be available if you can claim an individual as a dependent. Family tax planning. Filing status and dependents.

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Tax Planning Taxes Planning Sales 52

Cornerstone Financial Advisory

DECEMBER 11, 2023

. “The whole fun of living is trying to make something better” – Charles Kettering Tax Tips For Children Or Grandchildren With Part-Time Job Many of us have kids or grandkids who work part-time. If they are self-employed, however, they may be responsible for paying these taxes directly to the IRS.

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Marketing Marketing Taxes Economics 98

Cornerstone Financial Advisory

NOVEMBER 20, 2023

These Tips Can Help You Understand The Tax Situation Whether picking up painting or cooking new concoctions in your kitchen, starting a new hobby is always fun and a great way to learn something new. Did you know there are some tax considerations when starting a new hobby? a Registered Investment Advisor.

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Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

NOVEMBER 13, 2023

Even better, these donations may qualify for a tax deduction if you itemize the deductions and show proof of the donations. 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.

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Marketing Marketing Taxes Economics 105

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.

Marketing 105

Marketing Marketing Economics Taxes 105

Cornerstone Financial Advisory

DECEMBER 4, 2023

Did you know that if you are receiving Social Security benefits, you may have to pay federal income tax on a portion of these benefits? 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.

Marketing 105

Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

MARCH 25, 2024

The regular method allows you to specifically calculate the actual expenses, such as 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 be a substitute for specific, individualized tax advice.

Marketing 105

Marketing Marketing Taxes Economics 105

Cornerstone Financial Advisory

MARCH 11, 2024

State and local income tax refunds may be taxable and should be reported on your federal taxes. If a policy is surrendered prematurely, the policyholder may also pay surrender charges and have income tax implications. The information in this material is not intended as tax or legal advice. a Registered Investment Advisor.

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Marketing Marketing Insurance Taxes 103

Cornerstone Financial Advisory

JANUARY 8, 2024

The interactive tax assistant tool can also help to determine your filing status and any relevant credits you should (or should not) claim. 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.

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Marketing Marketing Taxes Economics 98

Cornerstone Financial Advisory

MARCH 4, 2024

Here’s How To Pay If you owe federal taxes, you must pay by the April deadline. Remember, if you get an extension to file your taxes, payment is still due by the April deadline. Pay when you e-file: If you file your federal tax return electronically, you can pay directly from your bank account using electronic funds withdrawal.

Marketing 101

Marketing Marketing Economics Taxes 101

Brown Advisory

MARCH 26, 2020

Tax Loss Harvesting: Upside To A Down Market ajackson Thu, 03/26/2020 - 14:08 The market's path forward is extremely uncertain right now, but there are still planning steps that investors can implement today to generate positive results down the line. TAX LOSS HARVESTING: WHAT IS IT? Assets should not be sold solely for tax reasons.

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Taxes Marketing Marketing Clients 52

Brown Advisory

MARCH 26, 2020

Tax Loss Harvesting: Upside To A Down Market. Tax loss harvesting (the process of realizing a loss on the sale of an asset, in order to mitigate taxes on subsequent capital gains) is one of those planning steps. TAX LOSS HARVESTING: WHAT IS IT? TAX LOSS HARVESTING: KEY TAKEAWAYS. TAX LOSS HARVESTING 101.

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Taxes Marketing Marketing Clients 52

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.

Marketing 105

Marketing Marketing Economics Taxes 105

Ballast Advisors

NOVEMBER 27, 2023

Here are some things to consider as you weigh potential tax moves between now and the end of the year. Defer income to next year Consider opportunities to defer income to 2024, particularly if you think you may be in a lower tax bracket then. Doing so may enable you to postpone payment of tax on the income until next year.

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Taxes Retirement Planning Distribution Retirement 40

Ballast Advisors

SEPTEMBER 22, 2023

The IRS has announced guidance for the home energy audit tax credit. Fortunately, there is a federal income tax credit available equal to 30% of the amount paid for home energy audits, up to $150 per tax year. If you claim the credit, the home energy audit should be kept as part of your tax records.

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Taxes Certification Communication Investment Advisor 40

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. Tuesday: Microsoft Corporation (MSFT), General Electric Company (GE), Verizon Communications, Inc. (VZ), Why is my pension taxed? The forecasts also are subject to revision. VZ), Visa, Inc.

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Marketing Marketing Taxes Economics 59

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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Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

JANUARY 22, 2024

NFLX), Verizon Communications Inc. (VZ) ” – Aristotle Keep These Tips In Mind When Selling A Home If you are selling your home, you may be able to exclude the sale’s capital gain from your tax return. You can also choose not to claim exclusion, in which case you must report the gain on your tax return.

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Marketing Marketing Economics Taxes 64

Ballast Advisors

AUGUST 16, 2023

An HSA is a tax-advantaged account that enables you to save money to cover health-care and medical costs that your insurance doesn’t pay. The funds contributed are made with pre-tax dollars if you contribute via payroll deduction or are tax deductible if you make them yourself using after-tax dollars.

Accounting 52

Accounting Numbers Medical Taxes 52

Cornerstone Financial Advisory

AUGUST 22, 2022

PANW), Zoom Video Communications, Inc. (ZM). The IRS has a question about their tax return. The IRS changed their tax return. You should also keep a copy of the letter for your tax records. This information is not intended to be a substitute for specific, individualized tax advice. a Registered Investment Advisor.

Marketing 59

Marketing Marketing Economics Taxes 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. This information is not intended to substitute for specific individualized tax advice. The information in this material is not intended as tax or legal advice.

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Marketing Marketing Medical Economics 59

Cornerstone Financial Advisory

AUGUST 29, 2022

Wall Street focused on Powell’s presentation in the hope it might provide greater clarity on future Fed direction, though his remarks ultimately went no further than restating past communications. How to Check the Status of Your Federal Tax Refund. Filing taxes has become more seamless in recent years due to e-filing.

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Marketing Marketing Economics Taxes 59

Ballast Advisors

JUNE 18, 2024

At Ballast Advisors, we understand the unique challenges faced by snowbirds and are here to provide guidance and support on this journey. Join us as we delve into the tax strategy, legal documentation, and insurance coverage considerations needed to successfully balance the ownership of multiple residences for snowbirds.

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Insurance Coverage Management Insurance Taxes 52