Cornerstone Financial Advisory

APRIL 15, 2024

.” – William Shakespeare More Digital Choices For Filing The IRS has made it easier to file your taxes. Forms now contain electronic signature options, meaning tax professionals can conduct remote transactions. This information is not intended to be a substitute for specific, individualized tax advice.

Marketing 52

Marketing Marketing Taxes Economics 52

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.

Marketing 75

Marketing Marketing Insurance Taxes 75

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.

Marketing 81

Marketing Marketing Economics Taxes 81

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.

Marketing 83

Marketing Marketing Taxes Economics 83

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.”

Taxes 78

Taxes Investment Advisor Numbers Investing 78

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

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.

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Marketing Marketing Economics Taxes 71

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.

Marketing 82

Marketing Marketing Taxes Investment Advisor 82

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.

Marketing 78

Marketing Marketing Taxes Economics 78

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. a Registered Investment Advisor.

Marketing 77

Marketing Marketing Taxes Economics 77

Cornerstone Financial Advisory

AUGUST 7, 2023

.” – Desmond Tutu Add Social Security Numbers Of Your Dependents On Your Return On your tax return, add the Social Security Numbers for your children and other dependents. Otherwise, the Internal Revenue Service (IRS) might deny any dependent credits you might be due, including the Child Tax Credit.

Marketing 88

Marketing Marketing Medicine 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.

Marketing 80

Marketing Marketing Taxes Economics 80

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 90

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.

Marketing 89

Marketing Marketing Taxes Economics 89

Cornerstone Financial Advisory

OCTOBER 23, 2023

” – Og Mandino Gig Economy Tax Tips There are some essential tips to remember if you work as a gig worker: All income is taxable, regardless of whether you receive information returns, including full-time and part-time work and those paid in cash. This information is not intended to substitute for specific individualized tax advice.

Marketing 84

Marketing Marketing Taxes Economics 84

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 96

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.

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Marketing Marketing Taxes Economics 86

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.

Marketing 83

Marketing Marketing Economics Taxes 83

Cornerstone Financial Advisory

AUGUST 14, 2023

The combination of higher yields and earnings that failed to validate tech’s elevated valuations has dragged the sector and the larger market. Child support payments are not taxable income for the recipient or tax-deductible for the payer. This information is not intended to substitute for specific individualized tax advice.

Marketing 52

Marketing Marketing Taxes Economics 52

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 83

Marketing Marketing Economics Taxes 83

Cornerstone Financial Advisory

SEPTEMBER 6, 2022

The overhang of Fed Chair Powell’s Jackson Hole speech the previous week carried over into last week as investors recalibrated stock valuations amid a seemingly more assertive monetary policy stance. The IRS can scan tax returns for potential fraud, and if a tax return seems suspicious, they will flag it for further review.

Marketing 59

Marketing Marketing Taxes Investment Advisor 59

Cornerstone Financial Advisory

MARCH 27, 2023

.” – Melissa Viviane “Lizzo” Jefferson Who Can File Your Taxes? Many people file their taxes, but others choose to have a third party represent them. Power of Attorney – allows someone to represent a taxpayer in tax matters. This information is not intended to substitute for specific individualized tax advice.

Marketing 59

Marketing Marketing Taxes Banking 59

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 10, 2023

.” – Dora Russell How To Choose A Tax Preparer It’s essential to choose a tax preparer that is suitable for your needs as well as reliable and ethical. 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 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

FEBRUARY 13, 2023

.” – Sandy Fries The Two Types Of IRS Volunteer Programs Every year, IRS-certified volunteers help people file their tax returns accurately. This volunteer opportunity is perfect for people who want to learn more about tax preparation, need to earn continuing education credits, or want to give back to their community.

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

AUGUST 21, 2023

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. These expenses can also impact your tax liability.

Marketing 52

Marketing Marketing Economics Taxes 52

Cornerstone Financial Advisory

MARCH 20, 2023

” – Brenda Song 5 Things You Can Find on IRS.gov The IRS website has a wealth of information outside of just tax filing information. Resources on how to apply for 501(c)(3) status – There are webinars and resources to help organizations apply for and maintain their tax-exempt status. a Registered Investment Advisor.

Marketing 59

Marketing Marketing Taxes Banking 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

FEBRUARY 6, 2023

.” – John Cena Don’t Miss Out On The 2021 Child Tax Credit Did you know that not just biological parents are eligible for the 2021 child tax credit? If you claim at least one child as your dependent, you may be eligible to benefit from the child tax credit. In 2021, the IRS expanded the child tax credit.

Marketing 59

Marketing Marketing Taxes Investment Advisor 59

Cornerstone Financial Advisory

APRIL 3, 2023

Using this platform, they provide tax-related content in several formats, including: Text-only Braille-ready files (available in English and Spanish) Browser-friendly HTML Accessible PDF (available in English and Spanish) Large print PDF (available in a variety of languages) The IRS also offers enhanced accessibility services.

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Marketing Marketing Taxes Economics 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

MAY 1, 2023

” – Keith David Tax Tips For Those In The Military The Internal Revenue Service has certain special tax breaks and programs for members of the U.S. Earned Income Tax Credit You may include nontaxable combat pay in your taxable income. This information is not intended to substitute for specific individualized tax advice.

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. This information is not intended to substitute for specific individualized tax advice. a Registered Investment Advisor.

Marketing 59

Marketing Marketing Taxes Investment Advisor 59

Cornerstone Financial Advisory

JULY 24, 2023

When sold, investments may be worth more or less than their original cost. ” – Mahatma Gandhi Tax Tips For Side Gigs There are some important tips to remember if you work a side gig: All income from these sources is taxable, including both full-time and part-time work and any cash payment received.

Marketing 52

Marketing Marketing Taxes Investment Advisor 52

Cornerstone Financial Advisory

JUNE 12, 2023

State and local income tax refunds may be taxable and should be reported on your federal taxes. State taxes may apply to inheritances.) If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. a Registered Investment Advisor. Welfare benefits.

Marketing 59

Marketing Marketing Insurance Taxes 59

Cornerstone Financial Advisory

JUNE 19, 2023

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. We suggest you discuss your specific tax issues with a qualified tax professional.

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Marketing Marketing Economics Taxes 59